Innovators For Purpose
- Assets
- $215.8k
- Revenue
- $452.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Acton, MA
- Founding
- 01/2015
- Data as of
- 06/2023
- 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 06/2023, 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 06/2023, Innovators For Purpose generated $452.5k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 44.4% each year . All expenses for the organization totaled $406.2k during the year ending 06/2023. While expenses have increased by 45.3% per year over the past 4 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
2023
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 LABS - INTRODUCES 7-8TH GRADE STUDENTS TO IFPS UNIQUE APPROACH TO STEM EDUCATION AT THE INTERSECTION OF DESIGN, TECHNOLOGY AND SOCIAL IMPACT.IFP STUDIOS - OFFERS STUDENTS AGED 14 AND OLDER A PAID, WORK-BASED DESIGN AND INNOVATION STUDIO EXPERIENCE. COLLABORATING WITH PROFESSIONALS, STUDENTS CREATE PRODUCTS AND EXPERIENCES THAT PROMOTE SOCIAL JUSTICE AND GENERATE POSITIVE SOCIAL IMPACT.IFP NEXT - FOCUSES ON MENTORSHIP AND THE CONTINUED BUILDING OF SOCIAL CAPITAL TO HELP FACILITATE INTERNSHIPS AND JOB OPPORTUNITIES FOR IFP GRADUATES.
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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 | $62,500 |
Dr Amon Millner Board Director | Trustee | 1 | $0 |
Jess Pina Board Director | Trustee | 1 | $0 |
Chokdee Rutirasiri Board Director | Trustee | 1 | $0 |
Ron Walker Board Chair | 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 | $406,051 |
| Noncash contributions included in lines 1a–1f | $27,900 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $406,051 |
| Total Program Service Revenue | $46,450 |
| 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 | $452,501 |
| 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. | $137,500 |
| Compensation of current officers, directors, key employees. | $27,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $137,343 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,329 |
| Payroll taxes | $25,508 |
| 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 | $1,170 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $45,969 |
| Advertising and promotion | $971 |
| Office expenses | $4,095 |
| Information technology | $4,565 |
| Royalties | $0 |
| Occupancy | $807 |
| Travel | $758 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,899 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,947 |
| All other expenses | $2,912 |
| Total functional expenses | $406,179 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $190,623 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,200 |
| 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 | $215,823 |
| Accounts payable and accrued expenses | $33,462 |
| Grants payable | $0 |
| Deferred revenue | $100,000 |
| 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 | $133,462 |
| Net assets without donor restrictions | $82,361 |
| 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 | $215,823 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ulster Youthbuild Llc Kingston, NY | $379,110 | $663,020 |
Cure Innovations Llc Groton, CT | $4,513,049 | $437,421 |
Innovators For Purpose Acton, MA | $215,823 | $452,501 |
Lcl Rockstars Seneca Falls, NY | $515,727 | $418,167 |
Boston Girls Empowerment Network Inc Boston, MA | $134,389 | $99,500 |
Watotoworld Inc Haverhill, MA | $520,972 | $154,584 |
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 |