Innovation Reform Action Project
- Assets
- $110.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Arlington, VA
- Founding
- 05/2015
- Data as of
- 12/2020
- EIN
- 47-3272993
Organization Overview
Innovation Reform Action Project is located in Arlington, VA. The organization was established in 2015. According to its NTEE Classification (S21) the organization is classified as: Community Coalitions, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovation Reform Action Project is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2020, Innovation Reform Action Project generated $100.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (14.2%) each year. All expenses for the organization totaled $3.2k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (49.2%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3
IRAP CONTINUED ITS WORK TO ADVANCE A CONSTRUCTIVE, BIPARTISAN DIALOGUE ABOUT THESE QUESTIONS WITH MEMBERS OF CONGRESS, THEIR STAFF, AND OTHER INTERESTED STAKEHOLDERS. BECAUSE OF LIMITED FUNDING IN THIS YEAR (AND THE STATE OF THE ISSUES IRAP WORKS ON), IRAP.S LEVEL OF ACTIVITY WAS SIGNIFICANTLY BELOW THAT OF THE RECENT PAST. ACTIVITIES INCLUDED MEETINGS AND OTHER PUBLIC AND PRIVATE FORMS OF DIALOGUE. IRAP DOES NOT UNDERTAKE ANY POLITICAL ACTIVITIES I.E. CONTRIBUTIONS TO POLITICAL CANDIDATES OR ADVERTISING IN POLITICAL CAMPAIGNS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sam Thernstrom President | 10 | $0 | |
Ashley Hanna Secretary | 1 | $0 | |
Michael Greve Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $100,000 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $2 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $100,002 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $1,108 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $2,053 |
| Total expenses | $3,161 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $110,318 |
| Other assets | $0 |
| Total assets | $110,318 |
| Total liabilities | $130 |
| Net assets or fund balances | $110,188 |
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