Ingenuity Project Inc
- Assets
- $1.5m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 94
- Location
- Baltimore, MD
- Founding
- 10/1995
- Data as of
- 06/2022
- EIN
- 52-1942495
Organization Overview
Ingenuity Project Inc is located in Baltimore, MD. The organization was established in 1995. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2022, Ingenuity Project Inc employed 94 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ingenuity Project 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, Ingenuity Project Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $1.8m during the year ending 06/2022. While expenses have increased by 5.1% 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
THE MISSION OF THE INGENUITY PROJECT IS TO PREPARE AND LAUNCH THE NEXT DIVERSE GENERATION OF NATIONALLY COMPETITIVE STEM (SCIENCE, TECHNOLOGY, ENGINEERING AND MATHEMATICS) LEADERS FROM BALTIMORE CITY PUBLIC SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INGENUITY PROJECT IS A COMPREHENSIVE, ADVANCED MATH, SCIENCE, AND RESEARCH INSTRUCTIONAL PROGRAM FOR STUDENTS IN GRADES SIX THROUGH TWELVE WITH MORE THAN 25 YEARS OF POSITIVE, DEMONSTRATED STUDENT ACHIEVEMENT OUTCOMES. THE PROGRAM IDENTIFIES, RECRUITS, AND SUPPORTS GIFTED AND ADVANCED STUDENTS WHO REPRESENT BALTIMORE CITY. INGENUITYS CURRICULUM IS DEVELOPED BY EXPERIENCED TEACHERS WITH BACKGROUNDS IN STEM. THROUGH A UNIQUE HIGH SCHOOL RESEARCH PRACTICUM, STUDENTS CONDUCT INDEPENDENT INVESTIGATIONS INTO TOPICS OF INTEREST, WITH RESEARCH MENTORS WHO GUIDE THEIR PURSUIT OF SCIENTIFIC AND TECHNOLOGICAL DISCOVERIES. ALUMNI ENROLL IN SOME OF THE NATIONS' MOST COMPETITIVE COLLEGES AND ENTER STEM CAREERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisette Morris Executive Dir. | Officer | 40 | $142,711 |
Peter Griffin III Chairman | OfficerTrustee | 3 | $0 |
Maxwell Eblaghie PHD Secretary | OfficerTrustee | 3 | $0 |
Christopher Gibson Treasurer | OfficerTrustee | 3 | $0 |
Ariel Bowers Co-Chair | OfficerTrustee | 3 | $0 |
Joshua Barnes Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $929,915 |
| All other contributions, gifts, grants, and similar amounts not included above | $951,487 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,881,402 |
| Total Program Service Revenue | $0 |
| Investment income | $350 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $24,526 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,906,278 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $15,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $143,673 |
| Compensation of current officers, directors, key employees. | $43,102 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,161,787 |
| Pension plan accruals and contributions | $22,989 |
| Other employee benefits | $122,690 |
| Payroll taxes | $99,515 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,675 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $32,962 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,362 |
| Travel | $22,347 |
| 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 | $9,059 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,840,354 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $57,390 |
| Savings and temporary cash investments | $779,451 |
| Pledges and grants receivable | $385,000 |
| Accounts receivable, net | $295,425 |
| 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 | $805 |
| Net Land, buildings, and equipment | $9,563 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,527,634 |
| Accounts payable and accrued expenses | $49,230 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $49,230 |
| Net assets without donor restrictions | $1,073,404 |
| Net assets with donor restrictions | $405,000 |
| 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 | $1,527,634 |