Saga Innovations
- Assets
- $30.2m
- Revenue
- $39.2m
- Investments
- $0.0
- Employees
- 584
- Location
- Framingham, MA
- Founding
- 02/2015
- Data as of
- 06/2022
- 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 06/2022, Saga Innovations employed 584 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 06/2022, Saga Innovations generated $39.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.8% each year . All expenses for the organization totaled $21.4m during the year ending 06/2022. While expenses have increased by 21.9% per year over the past 7 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
2022
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 FY22, SAGA CONTINUED TO GROW ITS PROGRAMS AND MISSIONS IN NEW YORK, CHICAGO, WASHINGTON DC, BROWARD COUNTY FLORIDA, 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 | $175,089 |
Christopher Dupuis COO | Officer | 40 | $146,596 |
Thomas Fischaber VP Technical Operations | 40 | $132,600 | |
Sean Kelly VP Engineering | 40 | $132,600 | |
R Brent Milne VP Product R&d | 40 | $132,600 | |
Jeffrey Ward Principal Software Enginee | 40 | $132,600 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,681,214 |
| All other contributions, gifts, grants, and similar amounts not included above | $27,703,052 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,384,266 |
| Total Program Service Revenue | $7,837,789 |
| Investment income | $14,635 |
| 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 | $39,236,690 |
| 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. | $1,092,200 |
| Compensation of current officers, directors, key employees. | $485,486 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,206,117 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $748,815 |
| Payroll taxes | $1,161,134 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,545 |
| Fees for services: Accounting | $28,775 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $916,807 |
| Advertising and promotion | $971,740 |
| Office expenses | $255,724 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $218,586 |
| Travel | $259,015 |
| 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 | $82,096 |
| All other expenses | $0 |
| Total functional expenses | $21,415,589 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,026,445 |
| Savings and temporary cash investments | $15,406,357 |
| Pledges and grants receivable | $4,928,174 |
| Accounts receivable, net | $2,797,225 |
| 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 | $224,078 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,847,322 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $30,229,601 |
| Accounts payable and accrued expenses | $778,710 |
| 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 | $778,710 |
| Net assets without donor restrictions | $6,245,041 |
| Net assets with donor restrictions | $23,205,850 |
| 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 | $30,229,601 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Saga Innovations has recieved totaling $4,224,742.
| Awarding Organization | Amount |
|---|---|
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: K-12 EDUCATION | $2,470,000 |
Walton Family Foundation Inc Bentonville, AR PURPOSE: SUPPORT STATE POLICY ADVOCACY WORK AND THE CREATION OF MODEL POLICY FOR HIGH-DOSAGE TUTORING. | $500,000 |
Clark Charitable Foundation Inc Bethesda, MD PURPOSE: SUPPORT TUTORING PROGRAMS IN DC SCHOOLS | $375,000 |
New Profit Inc Boston, MA PURPOSE: PROGRAM EXPANSION | $250,000 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: K-12 EDUCATION | $202,772 |
New Schools Fund Oakland, CA PURPOSE: INNOVATIVE SCHOOLS | $200,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Amsterdam House Continuing Care Retirement Community Inc Port Washington, NY | $223,728,704 | $36,044,280 |
Sponsors For Educational Opportunity Inc New York, NY | $71,324,699 | $43,724,114 |
The Achievement Network Ltd Boston, MA | $23,559,572 | $30,118,976 |
Leadership For Educational Equity New York, NY | $8,736,194 | $32,582,451 |
Foundation For City College New York, NY | $332,549,861 | $102,453,904 |
Saga Innovations Framingham, MA | $30,229,601 | $39,236,690 |
Transcend Inc Hastingsonhudson, NY | $40,245,682 | $36,384,149 |
The Baruch College Fund New York, NY | $295,690,612 | $67,294,185 |
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 |