Innogroup Foundation Inc
- Assets
- $6.9m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Zeeland, MI
- Founding
- 08/2014
- Data as of
- 12/2021
- 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 12/2021, Innogroup Foundation Inc generated $1.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $972.4k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Innogroup Foundation Inc has awarded 45 individual grants totaling $2,009,986. 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
2021
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 |
|---|---|---|---|
Peter Lanser Vice-President | OfficerTrustee | 1 | $0 |
Michael Lanser 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 | $641,801 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $641,801 |
| Total Program Service Revenue | $372,000 |
| Investment income | $940 |
| 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 | $1,016,023 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $479,742 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $148,182 |
| 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 | $3,087 |
| 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 | $3,908 |
| 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 | $2,282 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $170,882 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $153,683 |
| Insurance | $0 |
| All other expenses | $1,399 |
| Total functional expenses | $972,386 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,548,830 |
| 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 | $5,315,581 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $72,170 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,936,581 |
| 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 | $3,545,539 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,545,539 |
| 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 | $3,391,042 |
| Total liabilities and net assets/fund balances | $6,936,581 |
Grants Awarded
Over the last fiscal year, Innogroup Foundation Inc has awarded $256,073 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
Cedar Rapids, IA PURPOSE: General Purpose | $136,000 |
Grand Rapids, MI PURPOSE: General Purpose | $32,500 |
Phoenix, AZ PURPOSE: General Purpose | $11,000 |
Boone, NC PURPOSE: General Purpose | $10,783 |
Jenison, MI PURPOSE: General Purpose | $10,000 |
Lawn, TX PURPOSE: General Purpose | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Innogroup Foundation Inc has recieved totaling $75,823.
| Awarding Organization | Amount |
|---|---|
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: SUPPORT | $75,798 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $25 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
16 Tech Community Corporation Indianapolis, IN | $90,414,871 | $43,820,376 |
Invest Detroit Foundation Detroit, MI | $154,389,743 | $12,808,930 |
Wright Brothers Institute Inc Dayton, OH | $23,307,656 | $22,085,089 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
The Convention And Visitors Bureau Of Greater Cleveland Inc Cleveland, OH | $25,296,918 | $17,425,666 |
Columbus Downtown Development Corporation Columbus, OH | $118,710,723 | $12,117,471 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
Metropolitan Detroit Convention & Vistors Bureau Detroit, MI | $36,765,048 | $14,015,809 |
Detroit Economic Growth Corp Detroit, MI | $7,209,211 | $10,420,774 |
Lawrence Economic Development Corporation South Point, OH | $62,339,240 | $9,945,474 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Southwest Michigan First Corporation Kalamazoo, MI | $10,945,070 | $8,560,798 |