Foundation For Innovation In Education
- Assets
- $367.5k
- Revenue
- $278.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Marshall, MN
- Founding
- 09/2018
- Data as of
- 06/2024
- EIN
- 82-4640555
Organization Overview
Foundation For Innovation In Education is located in Marshall, MN. The organization was established in 2018. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For Innovation In Education is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION FOR INNOVATION IN EDUCATION WILL PROVIDE ON-GOING SUPPORT FOR DEVELOPING, IMPLEMENTING, AND SUSTAINING OF REGIONAL STUDENT ENRICHMENT PROGRAMS AND ACTIVITIES. IN ADDITION, THE FOUNDATION FOR INNOVATION IN EDUCATION WILL PROVIDE ON-GOING SUPPORT FOR DESIGNING AND IMPLEMENTING INNOVATIVE TEACHING PRACTICES IN THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOSTER COLLABORATION BETWEEN SCHOOL DISTRICTS, BUSINESS AND INDUSTRY, AND SWWC SERVICE COOPERATIVE IN THE ESTABLISHMENT OF PUBLIC/PRIVATE PARTNERSHIPS TO ENHANCE THE MISSION AND PURPOSE OF THE FOUNDATION.
PROMOTE FURTHER DEVELOPMENT AND IMPLEMENTATION OF INNOVATIVE TEACHING PRACTICES THROUGH REGIONAL COLLABORATION.
AID, SUPPORT, AND ASSIST SWWC SERVICE COOPERATIVE AND OTHER ORGANIZATIONS BY GIFTS, CONTRIBUTIONS, OR OTHERWISE FOR CHARITABLE AND EDUCATIONAL PURPOSES TO PROVIDE GREATER ACCESS TO STUDENT ACADEMIC ENRICHMENT ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Coleman Vice Chair | OfficerTrustee | $0 | |
Becky Foster Board Member | Trustee | $0 | |
Jan Fransen Board Member | Trustee | $0 | |
Carla Olson Board Member | Trustee | $0 | |
Steve Schnieder Board Member | Trustee | $0 | |
Tom Walsh Chair | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $8,950 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $267,817 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $276,767 |
| Total Program Service Revenue | $0 |
| Investment income | $1,763 |
| 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 | $278,530 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $183 |
| Office expenses | $2,215 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,005 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $188,124 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,236 |
| Savings and temporary cash investments | $324,532 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $35,727 |
| Total assets | $367,495 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $367,495 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $367,495 |