Saga Innovations
- Assets
- $32.7m
- Revenue
- $28.8m
- Investments
- $0.0
- Employees
- 693
- Location
- Framingham, MA
- Founding
- 02/2015
- Data as of
- 06/2023
- EIN
- 47-2168942
Organization Overview
Saga Innovations is located in Framingham, MA. The organization was established in 2015. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2023, Saga Innovations employed 693 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Saga Innovations 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 06/2023, Saga Innovations generated $28.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.7% each year . All expenses for the organization totaled $27.2m during the year ending 06/2023. While expenses have increased by 22.5% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SAGA INNOVATIONS IS A NONPROFIT ORGANIZATION BASED IN BOSTON, MA DEDICATED TO TRANSFORMING AMERICAN PUBLIC EDUCATION. SAGA DRIVES THE EXPANSION OF NATIONALLY RECOGNIZED INNOVATION OF HIGH-DOSAGE, INTENSIVE DAILY TUTORING WHERE TUTORING IS A PART OF THE REGULAR SCHOOL DAY FOR STUDENTS AS A SCHEDULED CLASS PERIOD. WE PARTNER WITH DISTRICT PUBLIC SCHOOLS TO PROVIDE STUDENTS THE OPPORTUNITY TO WORK WITH A QUALIFIED, ENGAGING TUTOR WHO TAILORS INSTRUCTION TO THE NEEDS OF TWO STUDENTS AT A TIME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN FY23, SAGA HAD A PRESENCE WITH PROGRAMS IN NEW YORK, CHICAGO, WASHINGTON DC, CHARLESTON, AND PROVIDENCE SCHOOL SYSTEMS WHILE EXPANDING ITS SERVICE SCOPE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Safran CEO & Chair | OfficerTrustee | 40 | $238,260 |
Antonio Gutierrez Chief Policy & Public Affairs Officer & Vice Chair | OfficerTrustee | 40 | $204,220 |
Meredith Liu Treasurer (resigned 05/23) | OfficerTrustee | 2 | $0 |
Jared Taillefer Clerk | OfficerTrustee | 2 | $0 |
Anthony Luckett Director | Trustee | 2 | $0 |
Alex Cortez Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Whiteboard Advisors Llc Communications, Advocacy And Coalition-b | 6/29/23 | $198,491 |
Leslie Wade Llc Organizational Improvement Consultant | 6/29/23 | $133,678 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,998,008 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,387,858 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,385,866 |
| Total Program Service Revenue | $9,859,583 |
| Investment income | $540,858 |
| 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 | $28,786,307 |
| 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. | $1,049,675 |
| Compensation of current officers, directors, key employees. | $493,244 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $17,949,822 |
| Pension plan accruals and contributions | $148,172 |
| Other employee benefits | $1,085,884 |
| Payroll taxes | $1,433,506 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $60,149 |
| Fees for services: Accounting | $44,637 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,039,666 |
| Advertising and promotion | $1,271,926 |
| Office expenses | $586,606 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $221,254 |
| Travel | $581,101 |
| 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 | $99,488 |
| All other expenses | $0 |
| Total functional expenses | $27,184,992 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,988,368 |
| Savings and temporary cash investments | $15,692,325 |
| Pledges and grants receivable | $8,308,939 |
| Accounts receivable, net | $1,428,430 |
| 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 | $185,712 |
| Net Land, buildings, and equipment | $81,571 |
| Investments—publicly traded securities | $5,000,000 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $32,685,345 |
| Accounts payable and accrued expenses | $1,633,139 |
| 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 | $1,633,139 |
| Net assets without donor restrictions | $21,716,356 |
| Net assets with donor restrictions | $9,335,850 |
| 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 | $32,685,345 |