Nextfifty Initiative
- Assets
- $244.3m
- Revenue
- $9.6m
- Investments
- $240.6m
- Employees
- 6
- Location
- Denver, CO
- Founding
- 02/2009
- Data as of
- 12/2023
- EIN
- 26-2700185
Organization Overview
Nextfifty Initiative, operating under the name Innovage Foundation, is located in Denver, CO. The organization was established in 2009. According to its NTEE Classification (E19) the organization is classified as: Support N.E.C., under the broad grouping of Health Care and related organizations. As of 12/2023, Innovage Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovage Foundation 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 12/2023, Innovage Foundation generated $9.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 36.2% each year . All expenses for the organization totaled $12.2m during the year ending 12/2023. While expenses have increased by 19.1% per year over the past 6 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.
Since 2015, Innovage Foundation has awarded 1,069 individual grants totaling $57,206,504. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUSTAIN AND ENHANCE THE INDEPENDENCE AND QUALITY OF LIFE ON THEIR TERMS BY INCREASING COMMUNITY AWARENESS AND SUPPORT FOR THE PROGRAMS OF INNOVAGE AFFILIATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INNOVAGE FOUNDATION'S PURPOSE IS TO SECURE BROAD-BASED COMMUNITY SUPPORT FOR THE PROGRAMS AND SERVICES OF TOTAL COMMUNITY OPTIONS, INC. DBA INNOVAGE. THE FOUNDATION SEEKS TO EDUCATE THE COMMUNITY AS WELL AS OBTAIN FINANCIAL SUPPORT FROM A VARIETY OF FUNDING SOURCES TO INCLUDE INDIVIDUALS, CORPORATIONS, AND FOUNDATIONS. THE FOUNDATION'S OPERATIONS ARE FULLY SUBSIDIZED BY INNOVAGE, WHICH ENSURES THAT 100% OF ALL CONTRIBUTIONS ARE UTILIZED FOR PROGRAM SUPPORT AS DIRECTED BY THE DONOR. IN ADDITION TO DONOR CULTIVATION AND RECOGNITION, THE FOUNDATION WORKS COLLABORATIVELY WITHIN THE ORGANIZATION TO ENSURE THAT GIFTS ARE ADMINISTERED APPROPRIATELY AND IN ACCORDANCE WITH DONOR INTENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Kaldes President & CEO (as Of 9/23) | 40 | $146,892 | |
Joie Glenn Chair | 1 | $0 | |
Maureen Hanrahan Vice Chair | 1 | $0 | |
Eric Kuhn Secretary | 4 | $0 | |
Ken Taylor Treasurer | 1 | $0 | |
Kristine Burrows Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Goldman Sachs Advisors | 12/30/23 | $854,071 |
Lincoln Asb At The Colorado Center | 12/30/23 | $183,099 |
Taloma Partners | 12/30/23 | $330,000 |
Kittleman & Associates | 12/30/23 | $103,137 |
Prosono | 12/30/23 | $58,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $13,870 |
| Dividends & Interest | $4,692,080 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,798,328 |
| Capital Gain Net Income | $4,798,328 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $70,597 |
| Total Revenue | $9,574,875 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $155,742 |
| Other employee salaries and wages | $1,284,638 |
| Pension plans, employee benefits | $316,237 |
| Interest | $61 |
| Taxes | $130,077 |
| Depreciation | $22,710 |
| Occupancy | $208,576 |
| Travel, conferences, and meetings | $71,761 |
| Printing and publications | $418 |
| Other expenses | $231,753 |
| Total operating and administrative expenses | $3,933,669 |
| Contributions, gifts, grants paid | $8,271,129 |
| Total expenses and disbursements | $12,204,798 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $400,911 |
| Savings and temporary cash investments | $2,285,995 |
| Net Accounts receivable | $250 |
| 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 | $40,579 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $41,148,676 |
| Net Land, buildings, and equipment | $175,082 |
| Other assets | $824,455 |
| Total assets | $244,297,749 |
| Accounts payable and accrued expenses | $51,969 |
| Grants payable | $878,410 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $912,963 |
| Total liabilities | $1,843,342 |
Grants Awarded
Over the last fiscal year, Nextfifty Initiative has awarded $7,169,871 in support to 128 organizations.
| Grant Recipient | Amount |
|---|---|
ABOLITIONIST LAW CENTER PURPOSE: GENERAL SUPPORT | $75,000 |
ALZHEIMER'S LOS ANGELES PURPOSE: GENERAL SUPPORT | $55,023 |
BELL POLICY CENTER PURPOSE: STRENGTHENING CAREGIVING AND CAREGIVERS FOR OLDER COLORADANS | $194,827 |
BLUE SAGE CENTER FOR THE ARTS PURPOSE: REACHING OLDER ADULTS THROUGH THE ARTS | $50,000 |
BOULDER COUNTY AIDS PROJECT PURPOSE: SERVICES FOR OLDER ADULTS WHO ARE LIVING WITH HIV AND AT RISK OF ACQUIRING HIV/HCV | $50,000 |
BOULDER COUNTY ARTS ALLIANCE PURPOSE: DANCE IS LIKE A FINE WINE | $7,500 |