Technovation
- Assets
- $3.1m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 32
- Location
- Menlo Park, CA
- Founding
- 05/2007
- Data as of
- 12/2021
- EIN
- 20-8386654
Organization Overview
Technovation is located in Menlo Park, CA. The organization was established in 2007. According to its NTEE Classification (U20) the organization is classified as: General Science, under the broad grouping of Science & Technology and related organizations. As of 12/2021, Technovation employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Technovation 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 12/2021, Technovation generated $3.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $2.9m during the year ending 12/2021. While expenses have increased by 0.1% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EMPOWER THE WORLDS UNDERREPRESENTED YOUNG PEOPLE, ESPECIALLY GIRLS, THROUGH ENGINEERING AND TECHNOLOGY, TO BECOME INNOVATORS AND LEADERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE STATEMENT 1
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tara Chkovski Founder/ceo | Officer | 60 | $153,000 |
Hee Young Kim Chief Operating Officer | Officer | 40 | $107,000 |
Ann Weeby Chairman | OfficerTrustee | 1 | $0 |
Brad Stroia Treasurer | OfficerTrustee | 1 | $0 |
Kate Parker Secretary | OfficerTrustee | 1 | $0 |
Sonya Park Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $368,780 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,312,080 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,680,860 |
| Total Program Service Revenue | $164 |
| Investment income | $460 |
| 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 | $3,683,772 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $238,250 |
| 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 | $1,898,943 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $222,629 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,992 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $89,938 |
| Advertising and promotion | $164,100 |
| Office expenses | $77,692 |
| Information technology | $39,234 |
| Royalties | $0 |
| Occupancy | $49,492 |
| Travel | $2,165 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,869 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,387 |
| Insurance | $17,111 |
| All other expenses | $19,498 |
| Total functional expenses | $2,921,177 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,478,065 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $545,487 |
| 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 | $26,548 |
| Net Land, buildings, and equipment | $12,470 |
| Investments—publicly traded securities | $52,839 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,890 |
| Total assets | $3,118,299 |
| Accounts payable and accrued expenses | $39,184 |
| 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 | $232,491 |
| Total liabilities | $271,675 |
| Net assets without donor restrictions | $2,846,624 |
| 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 | $3,118,299 |
Grants Awarded
Over the last fiscal year, Technovation has awarded $81,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Boston, MA PURPOSE: Education | $30,000 |
HARRISON COUNTY LIBRARY SYSTEM PURPOSE: Education | $12,000 |
El Paso, TX PURPOSE: Education | $10,000 |
CARLETON ELEMENTARY SCHOOL PURPOSE: Education | $8,000 |
Lathrup Vlg, MI PURPOSE: Education | $8,000 |
Detroit, MI PURPOSE: Education | $7,000 |
Grants Recieved
Over the last fiscal year, we have identified 17 grants that Technovation has recieved totaling $979,330.
| Awarding Organization | Amount |
|---|---|
The Patrick J Mcgovern Foundation Inc Boston, MA PURPOSE: TO SUPPORT AND EQUIP HUNDREDS OF UNDERSERVED GIRLS AROUND THE WORLD TO USE RESPONSIBLE AI TO DEVELOP INNOVATIVE SOLUTIONS TACKLING CLIMATE CHANGE. | $200,000 |
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Education | $161,150 |
Nuance Foundation Inc Burlington, MA PURPOSE: RECIPIENT WILL RECEIVE 1/3 OF REMAINING ASSETS. EXACT AMOUNT TO BE DETERMINED ON FINAL DISSOLUTION | $115,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $113,866 |
Elbaz Family Foundation Tr Beverly Hills, CA PURPOSE: TO SUPPORT THE ORGANIZATION'S MISSION TO EMPOWER GIRLS AND FAMILIES TO BECOME LEADERS, CREATORS, AND PROBLEM-SOLVERS. | $100,000 |
Medtronic Communities Foundation Minneapolis, MN PURPOSE: SPOTLIGHT GRANT MILESTONE PAYMENT | $80,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alfred E Mann Foundation For Scientific Research Santa Clarita, CA | $374,343,975 | $128,538,828 |
Oak Crest Institute Of Science Monrovia, CA | $4,897,984 | $4,671,335 |
Oregon Community Programs Eugene, OR | $4,423,506 | $4,611,357 |
Mind Research Inc Irvine, CA | $3,941,316 | $4,172,778 |
Chabot Space & Science Center Foundation Oakland, CA | $6,788,703 | $6,494,123 |
Society For The Advancement Of Material & Process Engineering Diamond Bar, CA | $8,577,702 | $1,437,457 |
Technovation Menlo Park, CA | $3,118,299 | $3,683,772 |
Foundation For Animal Care Andeducation San Diego, CA | $1,478,690 | $1,368,884 |
The Jupiter Research Foundation Los Altos, CA | $436,660 | $882,871 |
Buckminster Fuller Institute San Francisco, CA | $680,672 | $1,086,568 |
Decentralized Trails & Research All San Diego, CA | $2,135,392 | $2,240,290 |
Elementary Institute Of Science San Diego, CA | $5,969,051 | $1,449,596 |