Innovateedu Inc
- Assets
- $3.7m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 83
- Location
- Brooklyn, NY
- Founding
- 08/2014
- Data as of
- 06/2021
- EIN
- 46-3636238
Organization Overview
Innovateedu Inc is located in Brooklyn, NY. The organization was established in 2014. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2021, Innovateedu Inc employed 83 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovateedu 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 06/2021, Innovateedu Inc generated $3.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $3.4m during the year ending 06/2021. While expenses have increased by 8.8% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ELIMINATE THE ACHIEVEMENT GAP BY ACCELERATING INNOVATION IN COMMON CORE ALIGNED, NEXT-GENERATION LEARNING MODELS AND TOOLS THAT SERVE, INFORM, AND ENHANCE TEACHING AND LEARNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
URBAN EDUCATION FELLOWSHIP:INNOVATEEDU RUNS A FELLOWSHIP PROGRAM THROUGH WHICH NEW EDUCATORS TUTOR MIDDLE SCHOOL STUDENTS FOR 11 MONTHS WHILE RECEIVING TRAINING TO PREPARE THEM FOR TEACHING ROLES.
WORK ON DATA INTEROPERABILITY IN K-12 EDUCATION: INNOVATEEDU LEADS A NATIONWIDE EFFORT TO IMPROVE DATA INTEROPERABILITY IN K-12 EDUCATION; CONVENES SCHOOL-BASED PRACTITIONERS WORKING SOLVE CHALLENGES AND RECEIVE PROFESSIONAL DEVELOPMENT RELATED TO DATA IN EDUCATION; AND PROVIDES TECHNICAL ASSISTANCE TO SCHOOLS/DISTRICTS.
DEVELOPMENT OF DIGITAL TOOLS TO SUPPORT SCHOOLS, TEACHERS, AND STUDENTS:INNOVATEEDU DEVELOPS ONLINE TOOLS TO HELP SCHOOLS, TEACHERS, AND STUDENTS BETTER VISUALIZE THEIR DATA AND USE DATA TO INFORM DECISIONS ABOUT INSTRUCTION AND SCHOOL OPERATIONS.
OTHER PROGRAMS INCLUDE:- AFTER SCHOOL PROGRAM FOR MIDDLE SCHOOL STUDENTS- BRINGING TOGETHER STAKEHOLDERS IN THE FIELD OF EDUCATION TO SOLVE SHARED CHALLENGES INCLUDING AROUND STAFFING, TECHNOLOGY, AND SUPPORTING STUDENTS WITH DISABILITIES- IMPROVING RESEARCH AND DEVELOPMENT INFRASTRUCTURE IN EDUCATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erin Mote - Ex-Officio Board Member / Executive Director | Officer | 50 | $329,446 |
Marcos E Aloczer Director Of Product | 45 | $126,639 | |
Patrick T Yoho Engineering Manager & Lead Dev. | 45 | $102,453 | |
Susmita Pratihast Project Director | 45 | $101,543 | |
Catherine Cochran Chief Of Staff | 45 | $101,536 | |
Richard Boly Board Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Happy Fun Corporation Software Development | 6/29/16 | $363,770 |
Thoughtworks Inc Software Development | 6/29/16 | $693,648 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $432,109 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,785,713 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,217,822 |
| Total Program Service Revenue | $962,903 |
| Investment income | $29 |
| 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 | $3,180,754 |
| 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. | $249,909 |
| Compensation of current officers, directors, key employees. | $24,991 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,680,093 |
| Pension plan accruals and contributions | $17,353 |
| Other employee benefits | $87,469 |
| Payroll taxes | $154,207 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,942 |
| Fees for services: Accounting | $134,530 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $681,687 |
| Advertising and promotion | $22,813 |
| Office expenses | $46,798 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $47,455 |
| 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 | $15,435 |
| Insurance | $23,460 |
| All other expenses | $0 |
| Total functional expenses | $3,449,535 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,980,565 |
| Savings and temporary cash investments | $300,323 |
| Pledges and grants receivable | $183,497 |
| Accounts receivable, net | $45,676 |
| 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 | $49,457 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $164,803 |
| Total assets | $3,724,321 |
| Accounts payable and accrued expenses | $304,040 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $599,757 |
| Total liabilities | $903,797 |
| Net assets without donor restrictions | $1,004,077 |
| Net assets with donor restrictions | $1,816,447 |
| 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 | $3,724,321 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Innovateedu Inc has recieved totaling $22,900.
| Awarding Organization | Amount |
|---|---|
Edtech Evidence Exchange Inc Arlington, VA PURPOSE: TO SUPPORT PARTICIPATION IN THE FEDERATED DATA SYSTEM PLANNING PROCESS | $22,900 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Transcend Inc Hastingsonhudson, NY | $40,245,682 | $36,384,149 |
The Baruch College Fund New York, NY | $295,690,612 | $67,294,185 |
Collier Services Wickatunk, NJ | $8,471,748 | $15,685,679 |
S&p Global Foundation New York, NY | $10,276,249 | $7,071,664 |
Workforce Outsource Services Inc Uniondale, NY | $10,340,814 | $13,464,902 |
North Star Academy Foundation Inc New York, NY | $177,913,521 | $11,304,915 |
Hyde Leadership Charter School-Brooklyn Brooklyn, NY | $3,932,564 | $12,878,236 |
Teach Plus Incorporated Boston, MA | $12,001,505 | $12,042,496 |
Onward Israel Internships And Opportunities Ltd New York, NY | $897,895 | $11,379,184 |
Goodwin College Educational Services Inc East Hartford, CT | $19,577 | $10,789,035 |
Education Resource Strategies Inc Watertown, MA | $16,861,900 | $10,099,352 |
Entrepreneurial Ventures In Education Quincy, MA | $4,865,485 | $11,072,937 |