Innovart Foundation
- Assets
- $219.8k
- Revenue
- -$30.3k
- Investments
- $185.8k
- Employees
- 0
- Location
- Cupertino, CA
- Founding
- 09/2014
- Data as of
- 12/2022
- EIN
- 47-1412108
Organization Overview
Innovart Foundation is located in Cupertino, CA. The organization was established in 2014. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovart Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
YOUTH ART AND DRAMA ACTIVITIES - PURCHASED EQUIPMENT AND PROVIDED GRANTS TO LOCAL MIDDLE SCHOOL DRAMA PROGRAM; ORGANIZED LOCAL YOUTHS FOR VALENTINE CARD WRITING ACTIVITY FOR COMMUNITY SENIOR CENTER; PROVIDE WORKSHOP AND TRAINING TO LOCAL HIGH SCHOOL STUDENTS FOR MOSAIC ARTWORKS FOR SCHOOL AND COMMUNITY SENIOR CENTER
YOUTH MENTORING ACTIVITIES - PROVIDE GRANTS TO LOCAL NPO AND SCHOOLS OFFERS MENTORING PROGRAMS; PROVIDE GRANTS TO LOCAL HIGH SCHOOL AND UNIVERSITY FOR OUTSTANDING COMMUNITY SERVICES.
UNDERSERVED CHILDREN SUPPORT ACTIVITIES - PROVIDED GRANTS TO LOCAL LITERACY PROGRAM AND NON-PROFIT ORGANIZATIONS SERVE AND INSPIRE CHILDREN WITH FINANCIAL HARDSHIP AND DISADVANTAGE.
YOUTH COMMUNITY SERVICE ACTIVITIES - HELD A YOUTH TEAM BUILDING WORKSHOP AND SPONSORED LOCAL SCHOOL STUDENTS IN OFFERING COMMUNITY SERVICE ACTIVITIES OF LOCAL SENIOR CENTER CRAFT CLASS AND VALENTINE CARD WRITING ACTIVITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol Zhang Cfo/treasurer | 3 | $0 | |
Jenny Wang Secretary | 5 | $0 | |
Maggir Tsai President | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $110 |
| Dividends & Interest | $7,757 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$38,138 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | -$30,271 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $98 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $4,835 |
| Total operating and administrative expenses | $9,048 |
| Contributions, gifts, grants paid | $10,021 |
| Total expenses and disbursements | $19,069 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,445 |
| Savings and temporary cash investments | $26,641 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $185,760 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $219,846 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Innovart Foundation has awarded $10,021 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
SARATOGA HIGH SCHOOL FOUNDATION PURPOSE: CHARITY | $800 |
TRUST IN EDUCATION PURPOSE: CHARITY | $1,200 |
PALO ALTO UNIVERSITY PURPOSE: CHARITY | $8,000 |
WIKIMEDIA FOUNDATION PURPOSE: CHARITY | $21 |