Health And Science Innovations Inc
- Assets
- $886.8k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 18
- Location
- Indianapolis, IN
- Founding
- 01/2012
- Data as of
- 12/2023
- EIN
- 45-2836061
Organization Overview
Health And Science Innovations Inc is located in Indianapolis, IN. The organization was established in 2012. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 12/2023, Health And Science Innovations Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Health And Science Innovations Inc 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 12/2023, Health And Science Innovations Inc generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 36.0% each year . All expenses for the organization totaled $559.6k during the year ending 12/2023. While expenses have increased by 27.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO UNLOCK INNOVATIVE POTENTIAL THROUGH STEM EDUCATION FOR A DIVERSE AUDIENCE IN AN INCLUSIVE AND EQUITABLE MANNER
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023, INNOVATION BOULEVARD (IBLVD) EMPOWERED 99 YOUTH THROUGH ITS AFTER-SCHOOL AND SUMMER PROGRAMS. AS PART OF THE NATIONAL 21ST CENTURY COMMUNITY LEARNING CENTERS, IBLVD PROVIDED A HOLISTIC APPROACH TO EDUCATION, OFFERING MENTORING, HOMEWORK ASSISTANCE, PHYSICAL ACTIVITIES, AND PROJECT-BASED LEARNING. THE PROGRAM NOT ONLY IMPROVED ACADEMIC PERFORMANCE BUT ALSO FOSTERED A STRONG SENSE OF COMMUNITY AMONG PARTICIPANTS
ADDITIONAL EXPENSES ALLOCATED TO STEM OUTREACH SERVICES AND THE OVERALL PERFORMANCE OF PROGRAMS
TWO IMMERSIVE STEM PROGRAMS WERE OFFERED DURING THE SUMMER OF 2023: THE YOUNG INNOVATORS QUEST (YIQ) PROGRAM AND THE IDEAA SUMMER PROGRAM. THESE PROGRAMS OFFER A VARIETY OF STEM SKILLS AND EXPERIENCES TO HIGH SCHOOL STUDENTS WITH FOCUS ON INNOVATION, RESEARCH AND PRODUCT DEVELOPMENT. PARTICIPANTS OF THESE PROGRAMS ATTENDED INDUSTRY VISITS, GAINED EXPERIENCE THROUGH PROJECT-BASED-LEARNING, VISITED COLLEGE CAMPUSES AND HAD HANDS-ON EXPERIENCE IN LABORATORIES. STEM ENRICHMENT ACTIVITIES INCLUDE: RESEARCH, 3D PRINTING, LASER ENGRAVING, COMPUTER AIDED DESIGN (CAD), COMPUTER AIDED ENGINEERING (CAE), TECHNICAL COMMUNICATIONS, MECHATRONICS, WET LAB BIOLOGICAL BIOLOGICAL PREPARATION, LAB INSTRUMENTS OVERVIEW, FORENSICS, DNA EXTRACTION, VIRTUAL AND AUGMENTED REALITY, MICROSCOPY, AND HUMAN ANATOMY AMONG OTHER. IN 2023, YIQ SERVED 9 HIGH SCHOOL AGE STUDENTS AND THE IDEAA SUMMER SERVED 4 HIGH SCHOOL AGE STUDENTS. THESE PROGRAMS MOTIVATE AND TRAIN HIGH SCHOOL STUDENTS TO BECOME INNOVATORS IN STEM, BETTER PROBLEM SOLVERS, BETTER TEAM COLLABORATORS, BETTER COMMUNICATORS; AND HELP THEM WITH MAKING BETTER INFORMED CAREER CHOICES.
THE AWARD-WINNING TECH LITERACY PROGRAM PROVIDED AN INTRODUCTION TO COMPUTER SOFTWARE SKILLS TO 68 STUDENTS IN GRADES 5 THROUGH 8. THE SKILLS THEY LEARNED ARE COMMONLY USED IN THE WORKFORCE, HELP IMPROVE ACADEMIC ACHIEVEMENT, AND REINFORCE COMPUTER SCIENCE LEARNING. TECH LITERACY EQUIPS UNDERPRIVILEGED CHILDREN WITH SKILLS THAT WILL PREPARE THEM FOR SUMMER INTERNSHIPS OR JOBS, COLLEGE, AND THE WORKFORCE. WORKSHOPS INCLUDED AN INTRODUCTION TO WORD PROCESSORS, SPREADSHEETS, PRESENTATIONS, INTERNET SAFETY, EMAILING, AND COMPUTER HARDWARE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Luis A Palacio Executive Di | Officer | 40 | $141,865 |
Dinesh Castellino Board Memebe | Trustee | $0 | |
Paula Franco Treasurer | OfficerTrustee | $0 | |
Eric Van Gorp President | OfficerTrustee | $0 | |
Rimple Patwardhan Board Member | Trustee | $0 | |
Joerg Schrelber Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $9,600 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $526,759 |
| All other contributions, gifts, grants, and similar amounts not included above | $582,075 |
| Noncash contributions included in lines 1a–1f | $9,600 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,118,434 |
| Total Program Service Revenue | $9,840 |
| Investment income | $7,759 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,136,621 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $141,865 |
| Compensation of current officers, directors, key employees. | $4,137 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $236,703 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,477 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $22,399 |
| Office expenses | $5,732 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,821 |
| Travel | $1,130 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,110 |
| Interest | $13,750 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,323 |
| Insurance | $10,208 |
| All other expenses | $30,921 |
| Total functional expenses | $559,647 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $873,770 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $12,982 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $886,752 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $500,000 |
| Other liabilities | $15,986 |
| Total liabilities | $515,986 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $370,766 |
| Total liabilities and net assets/fund balances | $886,752 |