Innovateedu Inc
- Assets
- $5.3m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 93
- Location
- Brooklyn, NY
- Founding
- 08/2014
- Data as of
- 06/2022
- EIN
- 46-3636238
Organization Overview
Innovateedu Inc is located in Brooklyn, NY. The organization was established in 2014. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2022, Innovateedu Inc employed 93 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovateedu 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 06/2022, Innovateedu Inc generated $5.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $3.7m during the year ending 06/2022. While expenses have increased by 8.6% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ELIMINATE THE ACHIEVEMENT GAP BY ACCELERATING INNOVATION IN COMMON CORE ALIGNED, NEXT-GENERATION LEARNING MODELS AND TOOLS THAT SERVE, INFORM, AND ENHANCE TEACHING AND LEARNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IMPROVING RESEARCH AND DEVELOPMENT INFRASTRUCTURE IN EDUCATION:INNOVATEEDU BRINGS STAKEHOLDERS TOGETHER IN THE FIELD OF EDUCATION TO SOLVE SHARED CHALLENGES INCLUDING AROUND STAFFING, TECHNOLOGY, AND SUPPORTING STUDENTS WITH DISABILITIES
URBAN EDUCATION FELLOWSHIP:INNOVATEEDU RUNS A FELLOWSHIP PROGRAM THROUGH WHICH NEW EDUCATORS TUTOR MIDDLE SCHOOL STUDENTS FOR 11 MONTHS WHILE RECEIVING TRAINING TO PREPARE THEM FOR TEACHING ROLES.AFTER SCHOOL PROGRAM FOR MIDDLE SCHOOL STUDENTS:INNOVATEEDU OPERATES AN AFTERSCHOOL PROGRAM FOR MIDDLE SCHOOL STUDENTS WITH ACTIVITIES INCLUDING ARTS, ATHLETICS, STEM, AND LEADERSHIP DEVELOPMENT.DEVELOPMENT OF DIGITAL TOOLS TO SUPPORT SCHOOLS, TEACHERS, AND STUDENTS: INNOVATEEDU DEVELOPS ONLINE TOOLS TO HELP SCHOOLS, TEACHERS, AND STUDENTS BETTER VISUALIZE THEIR DATA AND USE DATA TO INFORM DECISIONS ABOUT INSTRUCTION AND SCHOOL OPERATIONS.
WORK ON DATA INTEROPERABILITY IN K-12 EDUCATION:INNOVATEEDU LEADS A NATIONWIDE EFFORT TO IMPROVE DATA INTEROPERABILITY IN K-12 EDUCATION; CONVENES SCHOOL-BASED PRACTITIONERS WORKING SOLVE CHALLENGES AND RECEIVE PROFESSIONAL DEVELOPMENT RELATED TO DATA IN EDUCATION; AND PROVIDES TECHNICAL ASSISTANCE TO SCHOOLS/DISTRICTS.
IMPROVING RESEARCH AND DEVELOPMENT INFRASTRUCTURE IN EDUCATION:INNOVATEEDU WORKS TO BRING STAKEHOLDERS IN EDUCATION TOGETHER TO SOLVE SHARED CHALLENGES RELATED TO DATA AND IMPROVING RESEARCH AND DEVELOPMENT INFRASTRUCTURE IN K-12 EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erin Mote - Ex-Officio Board Member / Executive Director | Officer | 50 | $240,597 |
Susan Bearden Director Of Digital Programs | 45 | $131,820 | |
Patrick T Yoho Engineering Manager & Lead Dev. | 45 | $112,813 | |
Susmita Pratihast Project Director | 45 | $102,017 | |
Catherine Cochran Chief Of Staff | 45 | $109,859 | |
Richard Boly Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Happy Fun Corporation Software Development | 6/29/16 | $363,770 |
Thoughtworks Inc Software Development | 6/29/16 | $693,648 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,101,339 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,823,509 |
| Noncash contributions included in lines 1a–1f | $54,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,924,848 |
| Total Program Service Revenue | $793,793 |
| Investment income | $29 |
| 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 | $5,723,231 |
| 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. | $272,713 |
| Compensation of current officers, directors, key employees. | $27,271 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,745,955 |
| Pension plan accruals and contributions | $16,307 |
| Other employee benefits | $118,479 |
| Payroll taxes | $141,301 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,153 |
| Fees for services: Accounting | $58,775 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $635,999 |
| Advertising and promotion | $14,571 |
| Office expenses | $34,883 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $218,792 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,281 |
| Insurance | $24,839 |
| All other expenses | $0 |
| Total functional expenses | $3,718,083 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,016,623 |
| Savings and temporary cash investments | $300,352 |
| Pledges and grants receivable | $1,702,520 |
| Accounts receivable, net | $18,473 |
| 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 | $1,100 |
| Net Land, buildings, and equipment | $44,911 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $236,547 |
| Total assets | $5,320,526 |
| Accounts payable and accrued expenses | $230,627 |
| Grants payable | $0 |
| Deferred revenue | $236,671 |
| 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 | $0 |
| Other liabilities | $27,556 |
| Total liabilities | $494,854 |
| Net assets without donor restrictions | $1,500,509 |
| Net assets with donor restrictions | $3,325,163 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $5,320,526 |