Novi Educational Foundation
- Assets
- $1.2m
- Revenue
- $413.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Novi, MI
- Founding
- 06/1986
- Data as of
- 06/2022
- 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 06/2022, Novi Educational Foundation generated $413.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.8% each year . All expenses for the organization totaled $367.0k during the year ending 06/2022. While expenses have increased by 22.0% per year over the past 7 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 2017, Novi Educational Foundation has awarded 14 individual grants totaling $420,572. 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
2022
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 |
|---|---|---|---|
Sue Collins-Schroeder Executive Di | OfficerTrustee | $0 | |
Tia Marie Sanders Vice Presdie | Officer | $0 | |
Punita Dani-Thurman President | Officer | $0 | |
Sharon Trumpy Secretary | Officer | $0 | |
Alison Dolin Treasurer | Officer | $0 | |
Sanya Weston Trustee | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $200,729 |
| All other contributions, gifts, grants, and similar amounts not included above | $96,139 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $296,868 |
| Total Program Service Revenue | $0 |
| Investment income | $14,087 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $44,171 |
| Net Income from Fundraising Events | $58,189 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $413,315 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $243,745 |
| Grants and other assistance to domestic individuals. | $44,978 |
| 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 | $54,800 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,466 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,138 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,988 |
| Fees for services: Other | $0 |
| Advertising and promotion | $188 |
| Office expenses | $3,452 |
| 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 | $1,476 |
| All other expenses | $20 |
| Total functional expenses | $366,981 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $408,286 |
| 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 | $799,587 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,207,873 |
| Accounts payable and accrued expenses | $25,008 |
| Grants payable | $236,402 |
| 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 | $261,410 |
| 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 | $946,463 |
| Total liabilities and net assets/fund balances | $1,207,873 |
Grants Awarded
Over the last fiscal year, Novi Educational Foundation has awarded $231,414 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
NOVI COMMUNITY SCHOOL DISTRICT PURPOSE: DISTRICT PROGRAMS | $180,000 |
NOVI COMMUNITY SCHOOL DISTRICT PURPOSE: TEACHERS/NEW EQUIP | $44,463 |
NOVI COMMUNITY SCHOOL DISTRICT PURPOSE: TEACHER/SUPPORT PERS | $6,951 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Novi Educational Foundation has recieved totaling $53,270.
| Awarding Organization | Amount |
|---|---|
Bosch Community Fund Farmington Hills, MI PURPOSE: ECO+STEM | $35,000 |
The Sievert Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $10,000 |
Credit Unions Chartered In The State Of Michigan Plymouth, MI PURPOSE: GENERAL SUPPORT | $6,000 |
Skillman Foundation Detroit, MI PURPOSE: MATCHING GIFT | $2,050 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $220 |
Endowment Analysis
| Beg. Balance | $575,077 |
| Earnings | $58,258 |
| Ending Balance | $633,335 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ohio University Foundation Athens, OH | $641,559,157 | $75,179,430 |
Iu Medical Group Foundation Inc Indianapolis, IN | $256,189,183 | $45,380,536 |
Western Michigan University Foundation Kalamazoo, MI | $431,026,780 | $43,479,998 |
Pelotonia Columbuus, OH | $27,807,886 | $34,892,875 |
Miami University Foundation Inc Oxford, OH | $724,573,926 | $28,643,439 |
Bowling Green State University Foundation Inc Bowling Green, OH | $269,755,787 | $28,051,237 |
Ball State University Foundation Muncie, IN | $262,845,495 | $25,627,270 |
The University Of Toledo Foundation Toledo, OH | $690,162,176 | $41,543,760 |
Ics Support Organization Inc Franklin, WI | $552,959,577 | $28,861,342 |
Youngstown State University Foundation Youngstown, OH | $318,269,128 | $38,933,738 |
Michigan State University Foundation East Lansing, MI | $535,425,307 | $55,850,938 |
Ivy Tech Foundation Inc Indianapolis, IN | $133,152,328 | $30,082,278 |