Novi Educational Foundation
- Assets
- $1.1m
- Revenue
- $102.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Novi, MI
- Founding
- 06/1986
- Data as of
- 06/2023
- EIN
- 38-2665305
Organization Overview
Novi Educational Foundation is located in Novi, MI. The organization was established in 1986. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Novi Educational 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 06/2023, Novi Educational Foundation generated $102.2k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $148.5k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Novi Educational Foundation has awarded 12 individual grants totaling $395,563. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
WORK IN CONJUNCTION WITH THE NOVI COMMUNITY SCHOOL DISTRICT BY PROVIDING EDUCATIONAL OPPORTUNITIES AND PROGRAM ENHANCEMENTS TO HELP DEVELOP EACH STUDENT'S POTENTIAL WITH A WORLD CLASS EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL ENRICHMENT THROUGH THE FUNDING OF GRANTS, SCHOLARSHIPS AND PROGRAMS OF THE NOVI COMMUNITY SCHOOL DISTRICT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Punita Dani-Thurman Secretary | Officer | $0 | |
Alison Dolin President | Officer | $0 | |
Sanya Weston Trustee | Trustee | $0 | |
Karen Katinas Trustee | Trustee | $0 | |
Jill Viet Treasurer | Officer | $0 | |
Sue Collins-Schroeder Executive Di | Trustee | $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 | $46,872 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $46,872 |
| Total Program Service Revenue | $0 |
| Investment income | $22,295 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$31,740 |
| Net Income from Fundraising Events | $64,726 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $102,153 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $71,090 |
| Grants and other assistance to domestic individuals. | $33,500 |
| 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 | $24,425 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,353 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,721 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,479 |
| Office expenses | $2,406 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,049 |
| All other expenses | $20 |
| Total functional expenses | $148,452 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $349,836 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $798,116 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,147,952 |
| Accounts payable and accrued expenses | $775 |
| Grants payable | $186,218 |
| 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 | $0 |
| Total liabilities | $186,993 |
| Net assets without donor restrictions | $0 |
| 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 | $960,959 |
| Total liabilities and net assets/fund balances | $1,147,952 |
Grants Awarded
Over the last fiscal year, Novi Educational Foundation has awarded $53,269 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NOVI COMMUNITY SCHOOL DISTRICT PURPOSE: DISTRICT PROGRAMS | $10,000 |
NOVI COMMUNITY SCHOOL DISTRICT PURPOSE: TEACHERS/NEW EQUIP | $43,269 |