Innovation Foundation Inc
- Assets
- $258.6k
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Wilton, CT
- Founding
- Data as of
- 12/2022
- EIN
- 85-4306455
Organization Overview
Innovation Foundation Inc is located in Wilton, CT. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovation Foundation 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 12/2022, Innovation Foundation Inc generated $1.3m in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $1.5m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION RESEARCHES PROGRAMS IN EDUCATION THROUGHOUT THE COUNTRY TO INCREASE THE QUALITY AND QUANTITY OF RESOURCES RELATED TO TECHNOLOGICALLY-ENABLED DISRUPTIVE INNOVATION EDUCATION. THE FOUNDATION ALSO BUILD CURRICULA THAT WILL ALLOW EDUCATION THROUGH THE LENS OF TECHNOLOGICALLY ENABLED INNOVATION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Caitlin Wood Secretary | 40 | $97,558 | |
Catherine Wood Board Chair | 2 | $0 | |
Carrie Amos Director | 40 | $200,000 | |
Lisa Dodd Director | 1 | $0 | |
Kellen Carter Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mary Zeman | 12/30/21 | $130,000 |
Stephen Masiclat | 12/30/21 | $116,664 |
Ramani Dealwis | 12/30/21 | $130,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,323,463 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,323,463 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $297,558 |
| Other employee salaries and wages | $480,822 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $69,026 |
| Printing and publications | $0 |
| Other expenses | $373,657 |
| Total operating and administrative expenses | $1,233,780 |
| Contributions, gifts, grants paid | $264,500 |
| Total expenses and disbursements | $1,498,280 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $73,163 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $185,472 |
| Total assets | $258,635 |
| Accounts payable and accrued expenses | $14,501 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $14,501 |
Grants Awarded
Over the last fiscal year, Innovation Foundation Inc has awarded $264,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
XYLO ACADEMY PURPOSE: TO PARTNER TOGETHER TO ADVANCE THE COMMON MISSION OF EDUCATION THROUGH THE LENS OF TECHNOLOGICALLY ENABLED INNOVATION. | $64,500 |
NOTRE DAME ACADEMY PURPOSE: TO SUPPORT THE PLANS FOR GROWTH AND EXPANSION OF THE DUDDY INNOVATION CENTER FOR EXCELLENCE (DICE) COURSE OFFERING. IT OFFERS A CHALLENGING EDUCATION FOR YOUNG WOMEN EAGER TO STRETCH THEIR LEARNING BEYOND THE TRADITIONAL ACQUISITION OF KNOWLEDGE WHILE INFLUENCING A NEW WAY OF THINKING AND LEARNING THROUGHOUT THE CAMPUS. | $100,000 |
JERICO PARTNERSHIP PURPOSE: TO PROVIDE SUPPORT OF JERICHO'S ACADEMIC PROGRAMS AS STUDENTS DISCOVER THEIR POTENTIAL AND GROW IN FAITH. IT WILL ALLOW THEM TO ACCESS IF'S CUTTING-EDGE CURRICULUM AND GUIDANCE. | $100,000 |