Innovators For Purpose
- Assets
- $171.4k
- Revenue
- $392.6k
- Investments
- $0.0
- Employees
- 2
- Location
- Acton, MA
- Founding
- 01/2015
- Data as of
- 06/2022
- EIN
- 30-0841640
Organization Overview
Innovators For Purpose is located in Acton, MA. The organization was established in 2015. According to its NTEE Classification (O19) the organization is classified as: Support N.E.C., under the broad grouping of Youth Development and related organizations. As of 06/2022, Innovators For Purpose employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovators For Purpose 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 06/2022, Innovators For Purpose generated $392.6k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 46.9% each year . All expenses for the organization totaled $315.6k during the year ending 06/2022. While expenses have increased by 36.0% per year over the past 5 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
YOUTH DEVELOPMENT AND STEM EDUCATION ORGANIZATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
IFP STUDIOS-TEENS WORK IN COLLABORATION WITH DESIGNERS, ARTISTS TO CREATE REAL-PROJECTS WITH REAL-IMPACT. IFP ROBOTICS LAB-STUDENTS TAKE A HUMANITIES FIRST APPROACH TO ROBOTICS BY DEVELOPING AND UNDERSTANDING OF THE CHALLENGES PEOPLE WITH DISABILITIES FACE EACH DAY. STUDENTS UNCOVER PROBLEMS OF INTEREST THEN CREATE ROBOTIC PROTOTYPES TO ADDRESS CHALLENGES. IFP DIGITAL FABRICATION LAB-STUDENTS LEARN TO DREAM, DESIGN, AND MAKE ALMOST ANYTHING WITH DIGITAL FABRICATION TOOLS INCLUDING 3D-PRINTERS, LASER CUTTER, AND MORE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael K Dawson Director Co-Founder CEO | OfficerTrustee | 60 | $75,000 |
Donna Dawson Director Co-Founder VP | OfficerTrustee | 40 | $50,000 |
Dr Amon Millner Board Director | Trustee | 1 | $0 |
Ron Walker Board Chair | Trustee | 1 | $0 |
Dr Larry Myatt Board Secretary | Trustee | 1 | $0 |
Kristina L Sansone Board Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $316,952 |
| Noncash contributions included in lines 1a–1f | $25,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $316,952 |
| Total Program Service Revenue | $75,600 |
| 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 | $392,552 |
| 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 | $179,720 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,214 |
| Payroll taxes | $17,687 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,120 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $5,040 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,158 |
| Office expenses | $0 |
| Information technology | $10,138 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $427 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,288 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,982 |
| All other expenses | $1,838 |
| Total functional expenses | $315,616 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $146,435 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,000 |
| 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 | $171,435 |
| Accounts payable and accrued expenses | $22,904 |
| Grants payable | $0 |
| Deferred revenue | $84,900 |
| 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 | $107,804 |
| Net assets without donor restrictions | $63,631 |
| 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 | $171,435 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Innovators For Purpose has recieved totaling $129,000.
| Awarding Organization | Amount |
|---|---|
Linde Family Foundation Boston, MA PURPOSE: OPERATION NEXT STEP | $75,000 |
Akamai Foundation Inc Cambridge, MA PURPOSE: IFP STUDIOS: 2BLOCKS - TOOLS OF CURIOSITY | $25,000 |
Cambridge Community Foundation Cambridge, MA PURPOSE: PROGRAM ASSISTANCE | $10,000 |
Nellie Mae Education Foundation Inc Quincy, MA PURPOSE: SUPPORTING STAFF MENTAL HEALTH | $6,000 |
Charter Oak Foundation West Simsbury, CT PURPOSE: GENERAL SUPPORT | $5,000 |
Albert O Wilson Foundation Inc Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ulster Youthbuild Llc Kingston, NY | $187,107 | $615,959 |
Cure Innovations Llc Groton, CT | $4,823,325 | $352,861 |
Innovators For Purpose Acton, MA | $171,435 | $392,552 |
Boston Girls Empowerment Network Inc Boston, MA | $134,389 | $99,500 |
Watotoworld Inc Haverhill, MA | $426,892 | $0 |
Lcl Rockstars Rochester, NY | $348,168 | $203,855 |
Backpack Marathon Inc Stoughton, MA | $0 | $0 |
Hingham Girl Scout House Inc Hingham, MA | $573,025 | $94,005 |
Book Prose Inc Reading, MA | $0 | $0 |