Novation Education Opportunities
- Assets
- $353.2k
- Revenue
- $541.0k
- Investments
- $0.0
- Employees
- 3
- Location
- Eagan, MN
- Founding
- 12/2009
- Data as of
- 06/2021
- EIN
- 27-1268650
Organization Overview
Novation Education Opportunities is located in Eagan, MN. The organization was established in 2009. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2021, Novation Education Opportunities employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Novation Education Opportunities 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 06/2021, Novation Education Opportunities generated $541.0k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $476.9k during the year ending 06/2021. While expenses have increased by 15.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
NEO, AS A MINNESOTA CHARTER SCHOOL AUTHORIZER, OVERSEES AND EVALUATES CHARTER SCHOOLS FOR THE PURPOSE OF IMPROVING STUDENT LEARNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH CONSISTENT, ONGOING AND ROBUST EVALUATION, NEO OVERSAW 28 CHARTER SCHOOLS SERVING 5,000 STUDENTS, TO ACHIEVE SIGNIFICANT AND MEASURABLE GROWTH IN STUDENT LEARNING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wendy J Swanson-Choi Ex Officio | Officer | 50 | $105,000 |
Wafa Qureshi Treasurer | Officer | 4 | $0 |
Salman Mitha Board Chair | Officer | 4 | $0 |
Muath Asamarai Board Member | Officer | 2 | $0 |
Mohammad Azher Islam Board Member | Officer | 2 | $0 |
Nabeel Syed Board Member | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $105,083 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $105,083 |
| Total Program Service Revenue | $435,872 |
| Investment income | $0 |
| 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 | $540,955 |
| 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. | $104,500 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $100,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,332 |
| Payroll taxes | $15,261 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $915 |
| Fees for services: Accounting | $12,455 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $2,317 |
| Royalties | $0 |
| Occupancy | $702 |
| Travel | $0 |
| 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 | $2,850 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,194 |
| All other expenses | $30,794 |
| Total functional expenses | $476,860 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $281,300 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $71,915 |
| 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 | $0 |
| Total assets | $353,215 |
| Accounts payable and accrued expenses | $9,644 |
| 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 | $3,053 |
| Total liabilities | $12,697 |
| Net assets without donor restrictions | $340,518 |
| 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 | $353,215 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wallin Education Partners St Paul, MN | $25,848,040 | $10,926,258 |
New American Development Center Minneapolis, MN | $3,930,676 | $9,122,032 |
Bluesky Charter School Bloomington, MN | $6,912,497 | $6,906,603 |
Us Math Recovery Council Eagan, MN | $3,296,483 | $6,771,005 |
Racine Charter One Inc Racine, WI | $5,378,275 | $6,487,272 |
Woodbury Leadership Academy Woodbury, MN | $4,350,331 | $5,912,313 |
Uw-Platteville Real Estate Foundation Inc Platteville, WI | $45,856,338 | $5,901,983 |
Barr Center St Louis Park, MN | $8,287,138 | $8,108,042 |
Great Mn Schools Minneapolis, MN | $411,897 | $3,619,260 |
Iowa Western Community College Foundation Council Bluffs, IA | $36,011,501 | $4,880,435 |
West River Foundation Sturgis, SD | $7,568,333 | $3,921,124 |
Sicangu Owayawa Oti-Rosebud Dormitory Mission, SD | $5,924,789 | $2,325,210 |