Octane Foundation for Innovation
Public records show a registered, tax-exempt organization in good standing.
Points to look into
- It owes more than it owns.
These come from the organization's own tax return. There may be a good explanation; ask the charity.
What it says it does
OCTANE FOUNDATION FOR INNOVATION (OFI) IS TARGETED TO ADVANCE EQUITY, DIVERSITY, AND INCLUSIVENESS ACROSS ALL INDUSTRY SECTORS WITH THE MISSION OF GROWING & STRENGTHENING THE SOUTHERN CALIFORNIA INNOVATION ECOSYSTEM BY CREATING JOBS, SCALING STARTUPS, AND DEVELOPING BUSINESSES. OFI ENHANCES THE ECONOMIC VITALITY OF THE REGION, CONTRIBUTING TO A SUSTAINABLE ECOSYSTEM AND AUGMENTING THE LIVE/WORK EXPERIENCE IN ORANGE COUNTY, CA.
- Income
- $909,812
- Spending
- $964,270
- Spent on programs
- 100%
- Reserves
- -5.8 months of spending
- Largest source of income
- donations and private grants, 52%
- Employees
- 0
- Volunteers
- 300
- Highest pay
- $433,732, executive director
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Weak: 24 out of 100. Higher than 2% of charities in its peer group (community improvement, $250k to $1m).
Reserves
0 of 35Spendable reserves are negative: it owes or has committed more than it holds.
Debt
0 of 20It owes 144% of what it owns.
Living within its means
4 of 15Spending exceeded income by 6% of income.
Income trend
5 of 15Income fell 18% on the year before.
Spending floor
15 of 15100% of spending went to programs and raising each dollar of donations cost 0 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Good: 81 out of 100. Higher than 59% of charities in its peer group (community improvement, $250k to $1m).
Independent board
25 of 2522 of 23 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
0 of 10Did not give the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
6 of 15Its accounts were not audited or reviewed by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $964,270 spent. THE OCTANE FOUNDATION FOR INNOVATION (OFI) WAS LAUNCHED AS A COMPLEMENT TO OCTANE'S MISSION OF CREATING 55,000+ HIGH-PAYING JOBS BY 2030. THE FOUNDATION IS TARGETED TO ADVANCE EQUITY, DIVERSITY, AND INCLUSIVENESS ACROSS ALL INDUSTRY SECTORS ALONGSIDE OCTANE'S AMBITIOUS MISSION OF GROWING & STRENGTHENING THE SOUTHERN CALIFORNIA INNOVATION ECOSYSTEM BY CREATING JOBS, SCALING STARTUPS, AND DEVELOPING BUSINESSES. OCTANE AND OFI WORK WITH PARTNERS TO ENHANCE THE ECONOMIC VITALITY OF THE REGION, CONTRIBUTE TO A SUSTAINABLE ECOSYSTEM AND AUGMENT THE LIVE/WORK EXPERIENCE IN ORANGE COUNTY.OCTANE FOUNDATION FOR INNOVATION'S WORK IS ACHIEVED THROUGH OUR INITIATIVES, LAUNCHPAD SBDC, WOMEN LEADERS OF OCTANE, NON-PROFIT ACCELERATOR, STEAM AHEAD, AND HEALTHSOCAL.AI. THESE INITIATIVES COVER THE SPECTRUM OF OPPORTUNITIES FOR STARTUP ENTREPRENEURS, STUDENTS, WOMEN, AND UNDERSERVED AND UNDERREPRESENTED COMMUNITIES. LAUNCHPAD SBDC:ACCELERATES ENTREPRENEURS AND START-UPS THROUGH A COMPREHENSIVE PROGRAM THAT QUICKLY IDENTIFIES AND CONNECTS GREAT PEOPLE, CAPITAL AND TECHNOLOGY. LAUNCHPAD PROVIDES CRITICAL, INDIVIDUALIZED AND VALUE-ADDED SUPPORT TO EARLY STAGE BIOMEDICAL AND INFORMATION TECHNOLOGY COMPANIES THROUGH MENTORING, COACHING, AND EDUCATION. THE LAUNCHPAD SBDC IS HOSTED BY OCTANE FOUNDATION FOR INNOVATION AND IS FUNDED IN PART THROUGH A COOPERATIVE AGREEMENT WITH THE U.S. SMALL BUSINESS ADMINISTRATION AND CALIFORNIA STATE UNIVERSITY FULLERTON AND EXTENDED TO THE PUBLIC ON A NON-DISCRIMINATORY BASIS. LAUNCHPAD SBDC IS PART OF THE ORANGE COUNTY/INLAND EMPIRE REGIONAL SBDC NETWORK. ORANGE COUNTY TECHNOLOGY ACTION NETWORK (DBA OCTANE) CONTRIBUTES A 100% CASH MATCH, ALONG WITH SBDC/SBA, TO ANY EXPENSES INCURRED THROUGH THIS CONTRACT.NON-PROFIT ACCELERATOR:THE NON-PROFIT ACCELERATOR PROVIDES NON-PROFITS WITH THE TOOLS THEY NEED TO EXPAND THEIR IMPACT IN THE COMMUNITY, SPECIFICALLY THOSE NON-PROFITS THAT SERVE UNDER-REPRESENTED PEOPLE IN STEAM AND HEALTHCARE. BY ADAPTING OCTANE'S AWARD-WINNING LAUNCHPAD SBDC EVALUATION PROCESS, NON-PROFITS RECEIVE A SIMILAR EVALUATION OF THEIR ORGANIZATION AND EXPERT ADVICE. THE GRADUATES OF THE NON-PROFIT ACCELERATOR EMERGE MORE EMPOWERED AND CAPABLE OF IMPROVING THE LIVES AND COMMUNITIES OF THE PEOPLE THEY SERVE.WOMEN LEADERS OF OCTANE:THE PURPOSE OF WOMEN LEADERS OF OCTANE (WLO) IS TO GROW THE STRENGTH AND IMPACT OF THE OC INNOVATION ECOSYSTEM BY INCREASING THE RANKS OF WOMEN ENTREPRENEURS AND BUSINESS LEADERS, ACCESS TO FUNDING, AND MORE INFLUENCE ON BOARDS, FUELED BY OCTANE NETWORKS AND RESOURCES.STEAM AHEAD: THE STEAM AHEAD PROGRAM PROVIDES PRACTICAL, REAL-WORLD EXPERIENCES THAT ENCOURAGE STUDENTS TO LEARN AND EXPLORE JOBS, CAREERS, AND ENTREPRENEURSHIP OPPORTUNITIES. THIS EXPERIENCE DELIVERS AN INTERACTIVE PROGRAM THAT FOSTERS CAREER AND WORKPLACE READINESS AND INSPIRES AN INTER-GENERATIONAL CULTURE OF PURPOSEFUL LEADERSHIP. PARTICIPATION INCLUDES ACCESS TO OCTANE MEDTECH AND TECH EVENTS, SUBJECT MATTER EXPERTS, WEBINARS, AND INVITATIONS TO PARTNER EVENTS OPENING THE DOOR TO ORANGE COUNTY'S INNOVATION ECOSYSTEM.NEXT WAVE LEADERS: THE NEXT WAVE INITIATIVE IS DESIGNED TO RECRUIT AND ENGAGE NEW GENERATIONS OF INDUSTRY AND COMMUNITY LEADERSHIP IN THE CONTINUOUS DEVELOPMENT AND RESPONSIBLE GROWTH OF THE ORANGE COUNTY INNOVATION ECOSYSTEM. IN ADDITION TO CONTRIBUTING TO THE QUALITY OF THE LIVE/WORK EXPERIENCE, THIS INITIATIVE SEEKS TO INSPIRE THE NEXT GENERATION OF INDUSTRY LEADERSHIP TO A PURPOSE-DRIVEN, INTENTIONAL LEADERSHIP CULTURE THAT WILL STRENGTHEN AND DISTINGUISH ORANGE COUNTY AND POSITION IT TO COMPETE FAVORABLY FOR RETAINING AND ATTRACTING TALENT.HEALTHSOCAL.AIHEALTHSOCAL.AI IS AN END-TO-END ECOSYSTEM OF WORLD-CLASS HEALTHCARE AND AI EXPERTS THAT COLLABORATE ON SOLVING COMPLEX HEALTHCARE CHALLENGES. FROM PERSONALIZED HEALTH STRATEGIES TO DATA-DRIVEN CARE COORDINATION, WE AIM TO TRANSFORM THE WAY WE APPROACH HEALTHCARE.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since August 2005.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.