Innogroup Foundation Inc
- Assets
- $6.9m
- Revenue
- $864.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Zeeland, MI
- Founding
- 08/2014
- Data as of
- 12/2023
- EIN
- 46-1522579
Organization Overview
Innogroup Foundation Inc is located in Zeeland, MI. The organization was established in 2014. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innogroup Foundation Inc 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 12/2023, Innogroup Foundation Inc generated $864.3k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $648.5k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Innogroup Foundation Inc has awarded 54 individual grants totaling $2,281,586. 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
SUPPORT ORGANIZATIONS WHOSE PURPOSE IS TO IMPROVE COMMUNITY RESOURCES SUCH AS WATER, HOUSING, EDUCATION, AND JOB OPPORTUNITIES IN POVERTY STRICKEN COMMUNITIES. CONTINUED ON SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING HOUSING AND WATER TO POVERTY STRICKEN AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jane Lanser Secretary | OfficerTrustee | 4 | $2,500 |
Michael Lanser President | OfficerTrustee | 1 | $0 |
Peter Lanser Vice-President | OfficerTrustee | 1 | $0 |
Carolyn Vanwieren Treasurer, Secretary | OfficerTrustee | 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 | $401,790 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $401,790 |
| Total Program Service Revenue | $372,000 |
| Investment income | $21,221 |
| 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 | $864,323 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $171,562 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $109,067 |
| 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 | $5,420 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,451 |
| Fees for services: Accounting | $8,560 |
| 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 | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $17,095 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $139,833 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $168,051 |
| Insurance | $0 |
| All other expenses | $1,205 |
| Total functional expenses | $648,518 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,051,831 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,500 |
| 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 | $5,573,122 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $72,170 |
| Intangible assets | $0 |
| Other assets | $244,304 |
| Total assets | $6,943,927 |
| Accounts payable and accrued expenses | $0 |
| 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 | $3,076,038 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,076,038 |
| 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 | $3,867,889 |
| Total liabilities and net assets/fund balances | $6,943,927 |
Grants Awarded
Over the last fiscal year, Innogroup Foundation Inc has awarded $63,338 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
MISSION OF HOPE PURPOSE: General Purpose | $43,658 |
ALL SHORES WESLEYAN CHURCH PURPOSE: General Purpose | $6,000 |
COMMUNITY ACTION HOUSE PURPOSE: General Purpose | $13,680 |