Variis Institute
- Assets
- $36.7k
- Revenue
- $168.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Ypsilanti, MI
- Founding
- 01/2020
- Data as of
- 12/2022
- EIN
- 83-3556327
Organization Overview
Variis Institute, operating under the name The Variis Institute, is located in Ypsilanti, MI. The organization was established in 2020. According to its NTEE Classification (B30) the organization is classified as: Vocational & Technical Schools, 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. Variis Institute 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 12/2022, Variis Institute generated $168.4k in total revenue. The organization has seen a slow decline revenue. Over the past 3 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $159.3k during the year ending 12/2022. 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
THE VARIIS INSTITUTE(501C(3)) WORKS TO EMPOWER TODAYS YOUTH WITH THE SKILLS OF TOMORROW BY PROVIDING INTEGRATED, PROJECT-BASED STEM (SCIENCE, TECHNOLOGY, ENGINEERING, AND MATHEMATICS) AND EXPLORATORY LEARNING EXPERIENCES IN AN ENGAGING ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OVER THE COURSE OF THE PAST YEAR, OUR NONPROFIT ORGANIZATION HAS COMMITTED TO ENHANCING THE QUALITY OF SCIENCE, TECHNOLOGY, ENGINEERING, AND MATHEMATICS (STEM) EDUCATION FOR CHILDREN WITHIN THE COMMUNITY. WE TAKE PRIDE IN LISTING OUR SIGNIFICANT ACHIEVEMENTS IN LINE WITH THIS OBJECTIVE FOR THIS TAX YEAR:STEM CAMPS: WE HOSTED FIVE COMPREHENSIVE STEM CAMPS CENTERED AROUND ROBOTICS AND DRONE TECHNOLOGIES. THESE CAMPS PROVIDED ENRICHING EDUCATIONAL EXPERIENCES, PROMOTING TECH-SAVVINESS AND FOSTERING AN ENVIRONMENT OF CREATIVITY AND INNOVATION AMONG THE YOUTH.DONATION OF STEM EQUIPMENT: OUR ORGANIZATION DONATED $50,000 WORTH OF ADVANCED MICRO:BIT AND DFROBOT ROBOTICS EQUIPMENT. THIS DONATION WAS AIMED AT FACILITATING CUTTING-EDGE TECHNOLOGY EXPOSURE AND HANDS-ON LEARNING EXPERIENCES FOR STUDENTS.STUDENT EVENTS: WE ORGANIZED THREE MAJOR STUDENT-CENTERED EVENTS TO PROVIDE ADDITIONAL PLATFORMS FOR ENGAGEMENT, SKILLS DEVELOPMENT, AND EXPERIENTIAL LEARNING IN STEM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrea Pisani President | Officer | 40 | $0 |
Frank Norton Chief Executive Officer | Officer | 40 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $167,516 |
| Investment income | $0 |
| 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 | $168,424 |
| 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. | $49,584 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $29,993 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,072 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,571 |
| Advertising and promotion | $2,090 |
| Office expenses | $13,667 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,047 |
| 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 | $18,839 |
| All other expenses | $0 |
| Total functional expenses | $159,258 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,370 |
| 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 | $21,361 |
| 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 | $36,731 |
| Accounts payable and accrued expenses | $10,660 |
| 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 | $1,649 |
| Total liabilities | $12,309 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $7,927 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $16,495 |
| Total liabilities and net assets/fund balances | $36,731 |