Innovation Fund Foundation
- Assets
- $0.0
- Revenue
- $391.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 11/2015
- Data as of
- 12/2021
- EIN
- 47-1881242
Organization Overview
Innovation Fund Foundation is located in Atlanta, GA. The organization was established in 2015. According to its NTEE Classification (B05) the organization is classified as: Research Institutes & Public Policy Analysis, 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. Innovation Fund 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 12/2021, Innovation Fund Foundation generated $391.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (23.7%) each year. All expenses for the organization totaled $5.9k during the year ending 12/2021. 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
THE INNOVATION FUND FOUNDATION, INC. SUPPORTS THE WORK OF THE GOVERNOR'S OFFICE OF STUDENT ACHIEVEMENT IN PLANNING, IMPLEMENTING OR SCALING INNOVATIVE EDUCATION PROGRAMS. THE GOVERNOR'S OFFICE OF STUDENT ACHIEVEMENT OVERSEES AND ADMINISTERS THE INNOVATION FUND, WHICH INVESTS IN INNOVATIVE PROJECTS FOCUSED ON THE GOVERNOR'S EDUCATONAL PRIORITY AREAS. THE INNOVATION FUND FOUNDATION, INC. WILL SUPPORT THE INNOVATION FUND'S WORK AS WELL AS THE GOVERNOR'S HONOR PROGRAM GHP, A STATEWIDE RESIDENTIAL SUMMER PROGRAM FOR GIFTED AND TALENTED HIGH SCHOOL STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INNOVATION FUND FOUNDATION EXISTS TO IMPROVE STUDENT ACHIEVEMENT IN GEORGIA BY FUNDING INNOVATIVE PARTNERSHIPS TO REDESIGN PUBLIC EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Dudgeon Chairman | OfficerTrustee | 0.5 | $0 |
Jodie Snow Treasurer | OfficerTrustee | 0.5 | $0 |
Ed Chang Director | Trustee | 0.5 | $0 |
Jason Anavitarte Director | Trustee | 0.5 | $0 |
Joy Hawkins Secretary | OfficerTrustee | 0.5 | $0 |
Jack Parish Director | Trustee | 0.5 | $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 | $124,572 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $124,572 |
| Total Program Service Revenue | $0 |
| Investment income | $32 |
| 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 | $391,026 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| 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 | $5,680 |
| 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 | $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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,890 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $0 |
Grants Awarded
Over the last fiscal year, Innovation Fund Foundation has awarded $304,284 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
AMANA ACADEMY INC PURPOSE: Innovative Education | $10,000 |
EARLY CTY HIGH SCHOOL PURPOSE: Innovative Education | $10,000 |
PELHAM CITY SCHOOL SYSTEM PURPOSE: Innovative Education | $10,000 |
RICHMOND COUNTY SCHOOL SYSTEM PURPOSE: Innovative Education | $10,000 |
GOVS OFFICE OF PLAN & BUDGET PURPOSE: Innovative Education | $244,784 |
STONE MOUNTAIN ELEMENTARY PURPOSE: Innovative Education | $9,500 |