<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xsi:schemaLocation="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2021v4.2">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2022-08-10T14:07:23-05:00</ReturnTs>
    <TaxPeriodEndDt>2021-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>MILLER COOPER &amp; CO LTD</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>1751 Lake Cook Road Suite 400</AddressLine1Txt>
        <CityNm>Deerfield</CityNm>
        <StateAbbreviationCd>IL</StateAbbreviationCd>
        <ZIPCd>60015</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990EZ</ReturnTypeCd>
    <TaxPeriodBeginDt>2021-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>800633175</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>The Innovation Foundation Inc</BusinessNameLine1Txt>
      </BusinessName>
      <InCareOfNm>% BRADLEY A KEYWELL</InCareOfNm>
      <BusinessNameControlTxt>INNO</BusinessNameControlTxt>
      <PhoneNum>3122763200</PhoneNum>
      <USAddress>
        <AddressLine1Txt>1130 W Monroe</AddressLine1Txt>
        <CityNm>Chicago</CityNm>
        <StateAbbreviationCd>IL</StateAbbreviationCd>
        <ZIPCd>60607</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>Bradley Keywell</PersonNm>
      <PersonTitleTxt>Director</PersonTitleTxt>
      <PhoneNum>3122763200</PhoneNum>
      <SignatureDt>2022-06-15</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <SigningOfficerGrp>
      <PersonFullName>
        <PersonFirstNm>Bradley</PersonFirstNm>
        <PersonLastNm>Keywell</PersonLastNm>
      </PersonFullName>
      <SSN>XXX-XX-XXXX</SSN>
    </SigningOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>Kate Czaja</PreparerPersonNm>
      <PTIN>P01421192</PTIN>
      <PhoneNum>8472055000</PhoneNum>
    </PreparerPersonGrp>
    <AdditionalFilerInformation>
      <TrustedCustomerGrp>
        <TrustedCustomerCd>2</TrustedCustomerCd>
      </TrustedCustomerGrp>
    </AdditionalFilerInformation>
    <TaxYr>2021</TaxYr>
    <BuildTS>2022-09-23 18:48:47Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="3">
    <IRS990EZ documentId="IRS990EZ" referenceDocumentId="IRS990ScheduleO">
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
      <WebsiteAddressTxt>www.cttfuture.com; www.chicagoideas.com</WebsiteAddressTxt>
      <Organization501c3Ind referenceDocumentId="IRS990ScheduleA">X</Organization501c3Ind>
      <TypeOfOrganizationCorpInd>X</TypeOfOrganizationCorpInd>
      <GrossReceiptsAmt>5893</GrossReceiptsAmt>
      <InfoInScheduleOPartIInd>X</InfoInScheduleOPartIInd>
      <ContributionsGiftsGrantsEtcAmt>682</ContributionsGiftsGrantsEtcAmt>
      <MembershipDuesAmt>5211</MembershipDuesAmt>
      <CostOrOtherBasisExpenseSaleAmt>0</CostOrOtherBasisExpenseSaleAmt>
      <GainOrLossFromSaleOfAssetsAmt>0</GainOrLossFromSaleOfAssetsAmt>
      <SpecialEventsDirectExpensesAmt>0</SpecialEventsDirectExpensesAmt>
      <SpecialEventsNetIncomeLossAmt>0</SpecialEventsNetIncomeLossAmt>
      <CostOfGoodsSoldAmt>0</CostOfGoodsSoldAmt>
      <GrossProfitLossSlsOfInvntryAmt>0</GrossProfitLossSlsOfInvntryAmt>
      <TotalRevenueAmt>5893</TotalRevenueAmt>
      <SalariesOtherCompEmplBnftAmt>252071</SalariesOtherCompEmplBnftAmt>
      <FeesAndOtherPymtToIndCntrctAmt>77913</FeesAndOtherPymtToIndCntrctAmt>
      <OccupancyRentUtltsAndMaintAmt>700</OccupancyRentUtltsAndMaintAmt>
      <OtherExpensesTotalAmt>100537</OtherExpensesTotalAmt>
      <TotalExpensesAmt>431221</TotalExpensesAmt>
      <ExcessOrDeficitForYearAmt>-425328</ExcessOrDeficitForYearAmt>
      <NetAssetsOrFundBalancesBOYAmt>587846</NetAssetsOrFundBalancesBOYAmt>
      <NetAssetsOrFundBalancesEOYAmt>162518</NetAssetsOrFundBalancesEOYAmt>
      <InfoInScheduleOPartIIInd>X</InfoInScheduleOPartIIInd>
      <CashSavingsAndInvestmentsGrp>
        <BOYAmt>570326</BOYAmt>
        <EOYAmt>88828</EOYAmt>
      </CashSavingsAndInvestmentsGrp>
      <LandAndBuildingsGrp>
        <BOYAmt>72111</BOYAmt>
        <EOYAmt>72111</EOYAmt>
      </LandAndBuildingsGrp>
      <OtherAssetsTotalDetail>
        <BOYAmt>8917</BOYAmt>
        <EOYAmt>6634</EOYAmt>
      </OtherAssetsTotalDetail>
      <Form990TotalAssetsGrp>
        <BOYAmt>651354</BOYAmt>
        <EOYAmt>167573</EOYAmt>
      </Form990TotalAssetsGrp>
      <SumOfTotalLiabilitiesGrp>
        <BOYAmt>63508</BOYAmt>
        <EOYAmt>5055</EOYAmt>
      </SumOfTotalLiabilitiesGrp>
      <NetAssetsOrFundBalancesGrp>
        <BOYAmt>587846</BOYAmt>
        <EOYAmt>162518</EOYAmt>
      </NetAssetsOrFundBalancesGrp>
      <PrimaryExemptPurposeTxt>THE INNOVATION FOUNDATION WAS FORMED TO INSTITUTIONALIZE THE NON-PROFIT ACTIVITIES OF CHICAGO IDEAS WEEK. ONE PROGRAM WITH THE GOAL OF PHILANTHROPICALLY CREATING A POSITIVE IMPACT ON THE EDUCATIONAL AND INTELLECTUAL COMMUNITY OF CHICAGO.</PrimaryExemptPurposeTxt>
      <ProgramSrvcAccomplishmentGrp>
        <DescriptionProgramSrvcAccomTxt>CHICAGO IDEAS WEEK'S MISSION IS TO PROMOTE AND ENCOURAGE SHARING IDEAS, INSPIRING ACTION, AND IGNITING CHANGE TO POSITIVELY IMPACT THE WORLD. THE PROGRAM ANNUALLY HOSTS CHICAGO IDEAS WEEK WHICH BRINGS TOGETHER SOME OF THE WORLD'S MOST OUTSTANDING SPEAKERS TO PRESENT THEIR IDEAS AND INSPIRE THE INNOVATIONS OF TOMORROW AT VARIOUS SESSIONS ACROSS THE CITY OF CHICAGO. DUE TO THE COVID-19 PANDEMIC, PROGRAM SERVICES ARE EXCLUSIVELY HELD VIRTUALLY.</DescriptionProgramSrvcAccomTxt>
        <ProgramServiceExpensesAmt>354083</ProgramServiceExpensesAmt>
      </ProgramSrvcAccomplishmentGrp>
      <TotalProgramServiceExpensesAmt>354083</TotalProgramServiceExpensesAmt>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>BRADLEY A KEYWELL</PersonNm>
        <TitleTxt>Chairman</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>1.0</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
        <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
        <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>KIM KEYWELL</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>1.0</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
        <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
        <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>SCOTT SMITH</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>1.0</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>50000</CompensationAmt>
        <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
        <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>NORA DALEY</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>1.0</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
        <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
        <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
      <ChgMadeToOrgnzngDocNotRptInd>false</ChgMadeToOrgnzngDocNotRptInd>
      <OrganizationHadUBIInd>false</OrganizationHadUBIInd>
      <SubjectToProxyTaxInd>false</SubjectToProxyTaxInd>
      <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
      <Form1120PolFiledInd>false</Form1120PolFiledInd>
      <MadeLoansToFromOfficersInd>false</MadeLoansToFromOfficersInd>
      <EngagedInExcessBenefitTransInd>false</EngagedInExcessBenefitTransInd>
      <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
      <StatesWhereCopyOfReturnIsFldCd>IL</StatesWhereCopyOfReturnIsFldCd>
      <BooksInCareOfDetail>
        <PersonNm>BRADLEY A KEYWELL</PersonNm>
        <USAddress>
          <AddressLine1Txt>1130 W MONROE STREET</AddressLine1Txt>
          <CityNm>Chicago</CityNm>
          <StateAbbreviationCd>IL</StateAbbreviationCd>
          <ZIPCd>60607</ZIPCd>
        </USAddress>
        <PhoneNum>3122763200</PhoneNum>
      </BooksInCareOfDetail>
      <ForeignFinancialAccountInd>false</ForeignFinancialAccountInd>
      <ForeignOfficeInd>false</ForeignOfficeInd>
      <DonorAdvisedFndsInd>false</DonorAdvisedFndsInd>
      <OperateHospitalInd>false</OperateHospitalInd>
      <TanningServicesProvidedInd>false</TanningServicesProvidedInd>
      <RelatedOrganizationCtrlEntInd>false</RelatedOrganizationCtrlEntInd>
      <TransactionWithControlEntInd>false</TransactionWithControlEntInd>
      <PoliticalCampaignActyInd>false</PoliticalCampaignActyInd>
      <LobbyingActivitiesInd>false</LobbyingActivitiesInd>
      <SchoolOperatingInd>false</SchoolOperatingInd>
      <TrnsfrExmptNonChrtblRltdOrgInd>false</TrnsfrExmptNonChrtblRltdOrgInd>
      <FiledScheduleAInd>true</FiledScheduleAInd>
    </IRS990EZ>
    <IRS990ScheduleA documentId="IRS990ScheduleA">
      <PublicOrganization170Ind>X</PublicOrganization170Ind>
      <GiftsGrantsContriRcvd170Grp>
        <CurrentTaxYearMinus4YearsAmt>1920502</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>2884610</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>3049500</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>682243</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>682</CurrentTaxYearAmt>
        <TotalAmt>8537537</TotalAmt>
      </GiftsGrantsContriRcvd170Grp>
      <TaxRevLeviedOrgnztnlBnft170Grp>
        <TotalAmt>0</TotalAmt>
      </TaxRevLeviedOrgnztnlBnft170Grp>
      <GovtFurnSrvcFcltsVl170Grp>
        <TotalAmt>0</TotalAmt>
      </GovtFurnSrvcFcltsVl170Grp>
      <TotalCalendarYear170Grp>
        <CurrentTaxYearMinus4YearsAmt>1920502</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>2884610</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>3049500</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>682243</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>682</CurrentTaxYearAmt>
        <TotalAmt>8537537</TotalAmt>
      </TotalCalendarYear170Grp>
      <SubstantialContributorsTotAmt>4398340</SubstantialContributorsTotAmt>
      <PublicSupportTotal170Amt>4139197</PublicSupportTotal170Amt>
      <GrossInvestmentIncome170Grp>
        <TotalAmt>0</TotalAmt>
      </GrossInvestmentIncome170Grp>
      <UnrelatedBusinessNetIncm170Grp>
        <TotalAmt>0</TotalAmt>
      </UnrelatedBusinessNetIncm170Grp>
      <OtherIncome170Grp>
        <TotalAmt>0</TotalAmt>
      </OtherIncome170Grp>
      <TotalSupportAmt>8537537</TotalSupportAmt>
      <GrossReceiptsRltdActivitiesAmt>644296</GrossReceiptsRltdActivitiesAmt>
      <PublicSupportCY170Pct>0.48482</PublicSupportCY170Pct>
      <PublicSupportPY170Pct>0.72070</PublicSupportPY170Pct>
      <ThirtyThrPctSuprtTestsCY170Ind>X</ThirtyThrPctSuprtTestsCY170Ind>
    </IRS990ScheduleA>
    <IRS990ScheduleO documentId="IRS990ScheduleO">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990EZ PART I LINE 16</FormAndLineReferenceDesc>
        <ExplanationTxt>Description:INSURANCE Amount:15007</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990EZ PART I LINE 16</FormAndLineReferenceDesc>
        <ExplanationTxt>Description:MARKETING Amount:5041</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990EZ PART I LINE 16</FormAndLineReferenceDesc>
        <ExplanationTxt>Description:M&amp;E Amount:328</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990EZ PART I LINE 16</FormAndLineReferenceDesc>
        <ExplanationTxt>Description:OFFICE EXPENSE Amount:11179</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990EZ PART I LINE 16</FormAndLineReferenceDesc>
        <ExplanationTxt>Description:OTHER EXPENSES Amount:10274</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990EZ PART I LINE 16</FormAndLineReferenceDesc>
        <ExplanationTxt>Description:WEBSITE Amount:57135</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>
