Innovation Institute Corporation
- Assets
- $7.0k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 19
- Location
- Belmont, MA
- Founding
- 09/2018
- Data as of
- 06/2023
- EIN
- 37-1853577
Organization Overview
Innovation Institute Corporation is located in Belmont, MA. The organization was established in 2018. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2023, Innovation Institute Corporation employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovation Institute Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Innovation Institute Corporation generated $55.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (24.0%) each year. All expenses for the organization totaled $50.8k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (22.0%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
THE ORGANIZATION IS CURRENTLY IN THE PROCESS OF DISSOLVING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marilyn Jackson Treasurer/director | 0 | $0 | |
Karen Allendoerfer Clerk/director | 0 | $0 | |
Jennifer Montana President/exec Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $55,824 |
| Total Revenue | $55,824 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $36,500 |
| Professional fees and other payments to independent contractors | $7,631 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $6,658 |
| Total expenses | $50,789 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $7,021 |
| Other assets | $0 |
| Total assets | $7,021 |
| Total liabilities | $0 |
| Net assets or fund balances | $7,021 |