The Initiative For Digital
- Assets
- $42.2m
- Revenue
- $15.0m
- Investments
- $0.0
- Employees
- 2
- Location
- Falmouth, ME
- Founding
- 03/2019
- Data as of
- 12/2023
- EIN
- 83-1372987
Organization Overview
The Initiative For Digital is located in Falmouth, ME. The organization was established in 2019. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., under the broad grouping of Education and related organizations. As of 12/2023, Initiative For Digital employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Initiative For Digital 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 12/2023, Initiative For Digital generated $15.0m in total revenue. All expenses for the organization totaled $47.3k during the year ending 12/2023.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONDUCTED MASTER PLANNING AND ACQUIRED 13.5 ACRE B&M BAKED BEANS FACTORY SITE TO CONVERT INTO ROUX CAMPUS. PARTNERED WITH ROUX INSTITUTE AND NORTHEASTERN UNIVERSITY TO DEVELOP THE NORTHEASTERN UNIVERSITY ROUX CENTER CAMPUS. SELECTED ARCHITECTURAL FIRM TO DESIGN ROUX INSTITUTE FACILITY AND AT-RISK CONSTRUCTION MANAGER. (APPROPRIATE EXPENDITURES CAPITALIZED RATHER THAN REPORTED AS EXPENSES).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Roux Board Member | 2.5 | $0 | |
Charles Hewett Board Member/executive Director | 40 | $363,000 | |
David Roux Board Chair | 10 | $0 | |
Ford Reiche Chief Operating Officer | 40 | $440,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Vanasse Hangen Brustlin Inc | 12/30/23 | $276,678 |
Cambridge Seven Associates Inc | 12/30/23 | $7,306,632 |
Consigli Construction Co Inc | 12/30/23 | $4,515,187 |
Woodard & Curran Inc | 12/30/23 | $660,341 |
Brunercott Architects | 12/30/23 | $394,439 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $15,000,000 |
| Interest on Savings | $28,369 |
| Dividends & Interest | $0 |
| Net Rental Income | $6,000 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $15,034,369 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $7,763 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $13,067 |
| Printing and publications | $0 |
| Other expenses | $26,256 |
| Total operating and administrative expenses | $47,346 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $47,346 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $189,856 |
| Savings and temporary cash investments | $3,351,610 |
| 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 | $5,150 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $11,409,539 |
| Other assets | $27,281,718 |
| Total assets | $42,237,873 |
| Accounts payable and accrued expenses | $1,247,996 |
| 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 | $1,247,996 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
White Mountain Science Incorporated Littleton, NH | $1,077,109 | $701,934 |
1833 Society Peterborough, NH | $9,994 | $0 |
Society For Promoting Theological Education Dublin, NH | $4,215,728 | $90,619 |
Foundation For Catholic Education Inc Wilmot, NH | $22,501 | $0 |
Mollyb Foundation Concord, NH | $2,096 | $0 |
Windham High School Jaguar Boosters Windham, NH | $88,150 | $0 |
The Initiative For Digital Falmouth, ME | $42,237,873 | $15,034,369 |
St Louis Alumni Association Inc Biddeford, ME | $1,097,417 | $33,205 |
Eleazar Wheelock House Inc Hanover, NH | $5,036,194 | $988,248 |
Fall Mountain Educational Endowment Association Charlestown, NH | $394,799 | $46,782 |
S Thomaston Library And Community Center Auxiliary South Thomaston, ME | $1,604 | $0 |
Newbury Public Library Foundation Of New Hampshire Newbury, NH | $247,683 | $0 |
Bowery Beach School Building Maintenance Trust South Portland, ME | $27,500 | $985 |
171 Watson Road Of Dover Holding Corporation Dover, NH | $0 | $0 |