Civic Intelligence

Edison Innovation Foundation

990 • Fiscal year 2021 • EIN 22-3442892

Jan 01, 2021 to Dec 31, 2021 • Filed on Oct 25, 2022

Organization ProfileWWW.THOMASEDISON.ORG

View Organization Page

1 Riverfront Plaza 3rd FloorNewark, NJ 07102

(973) 648-0500

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

42nd percentile

0.03x

Higher debt load relative to assets than 42% of similar nonprofits.

2021 filings • NTEE A • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

42nd percentile

0.07x

Higher debt load relative to revenue than 42% of similar nonprofits.

2021 filings • NTEE A • $1M-$5M nonprofits • Source year 2021

Net Margin

60th percentile

27%

Higher net margin than 60% of similar nonprofits.

2021 filings • NTEE A • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

94th percentile

$185,640

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 21.4% of source-year revenue.

2021 filings • NTEE A • $1M-$5M nonprofits • Source year 2021

Asset Growth

71st percentile

27%

Faster asset growth than 71% of similar nonprofits.

2021 filings • NTEE A • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

48th percentile

14%

Faster revenue growth than 48% of similar nonprofits.

2021 filings • NTEE A • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets42nd percentile

Assets

Up

$2,401,369

Up $505,692 (+27%) from 2020

Net Assets

Up

$2,338,648

Up $476,304 (+26%) from 2020

Liabilities

Up

$62,721

Up $29,388 (+88%) from 2020

Revenue And Expenses
Liabilities / Revenue42nd percentileNet Margin60th percentile

Revenue

Up

$867,148

Up $106,015 (+14%) from 2020

Expenses

Down

$632,001

Down $31,581 (-4.8%) from 2020

Net Income

Up

$235,147

Up $137,596 (+141%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth71st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $2,975,635Liabilities 2011: $35,121Net Assets 2011: $2,940,5142011Assets 2012: $3,474,662Liabilities 2012: $37,762Net Assets 2012: $3,436,9002012Assets 2013: $2,727,595Liabilities 2013: $32,544Net Assets 2013: $2,695,0512013Assets 2014: $2,682,243Liabilities 2014: $36,124Net Assets 2014: $2,646,1192014Assets 2015: $2,303,563Liabilities 2015: $34,734Net Assets 2015: $2,268,8292015Assets 2016: $1,865,246Liabilities 2016: $33,753Net Assets 2016: $1,831,4932016Assets 2017: $1,555,121Liabilities 2017: $33,213Net Assets 2017: $1,521,9082017Assets 2018: $1,724,654Liabilities 2018: $63,922Net Assets 2018: $1,660,7322018Assets 2019: $1,784,674Liabilities 2019: $32,653Net Assets 2019: $1,752,0212019Assets 2020: $1,895,677Liabilities 2020: $33,333Net Assets 2020: $1,862,3442020Assets 2021: $2,401,369Liabilities 2021: $62,721Net Assets 2021: $2,338,6482021Assets 2022: $2,149,726Liabilities 2022: $31,439Net Assets 2022: $2,118,2872022Assets 2023: $2,133,476Liabilities 2023: $38,535Net Assets 2023: $2,094,9412023

Highlighted filing

2021

Assets$2,401,369
Liabilities$62,721
Net Assets$2,338,648
Open 2021 Filing

Operations Trend

Revenue Growth48th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2011: $586,387Expenses 2011: $612,368Net Income 2011: -$25,9812011Revenue 2012: $1,017,279Expenses 2012: $577,834Net Income 2012: $439,4452012Revenue 2013: $358,434Expenses 2013: $1,232,764Net Income 2013: -$874,3302013Revenue 2014: $471,656Expenses 2014: $627,946Net Income 2014: -$156,2902014Revenue 2015: $514,282Expenses 2015: $757,690Net Income 2015: -$243,4082015Revenue 2016: $384,538Expenses 2016: $835,596Net Income 2016: -$451,0582016Revenue 2017: $407,095Expenses 2017: $785,260Net Income 2017: -$378,1652017Revenue 2018: $975,382Expenses 2018: $673,478Net Income 2018: $301,9042018Revenue 2019: $448,888Expenses 2019: $615,667Net Income 2019: -$166,7792019Revenue 2020: $761,133Expenses 2020: $663,582Net Income 2020: $97,5512020Revenue 2021: $867,148Expenses 2021: $632,001Net Income 2021: $235,1472021Revenue 2022: $755,080Expenses 2022: $679,442Net Income 2022: $75,6382022Revenue 2023: $621,683Expenses 2023: $707,143Net Income 2023: -$85,4602023

Highlighted filing

2021

Revenue$867,148
Expenses$632,001
Net Income$235,147
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Oct 25, 2022
Return Version
2021v4.0
Gross Receipts
$1,044,030
Mission and Program Overview

Mission

To preserve and promote the historical facilities and papers of thomas edison where and in which he invented the products that shaped the modern world;to benefit minorities and children providing the necessary skills to pursue careers in science and technology.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,558,183$1,924,222▲ $366,039
Savings and Temporary Cash Investments$220,376$366,306▲ $145,930
Land, Buildings, and Equipment, Net$27,980$27,728▼ $252
Prepaid Expenses and Deferred Charges$8,099$2,074▼ $6,025
Cash and Non-Interest-Bearing Accounts-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,895,677$2,401,369▲ $505,692
Other Assets Total$81,039$81,039→ $0
Liabilities
Accounts Payable and Accrued Expenses$31,474$60,658▲ $29,184
Other Liabilities$1,859$2,063▲ $204
Total Liabilities$33,333$62,721▲ $29,388
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,862,344$2,338,648▲ $476,304
Total Net Assets Fund Balance$1,862,344$2,338,648▲ $476,304
Total Liabilities and Net Assets / Fund Balance$1,895,677$2,401,369▲ $505,692

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$27,500$119,380$146,880
Equipment$228$4,150$4,378
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleFull / Part TimeBaseTotal
John P KeeganChairman,PresPT$185,640$185,640
Thomas UngerlandExec Vice PresPT$75,000$75,000
George Q KeeganTreasurer/Secr-$22,600$22,600
Wade KnowlesVice President-$10,600$10,600

Highest Paid Contractors

ContractorServicesLocationCompensation
None---
Revenue and Support

Revenue Composition

Contributions and Grants
$700,768
Program Service Revenue
$0
Investment Income
$166,380
Other Revenue
$0
All Other Contributions
$700,768
Change in Net Assets
$235,147

Audited Revenue Reconciliation

Revenue per Audited Statements
$867,148
Revenue Not Reported on Form 990
$241,157
Total Revenue per Audited Statements
$1,108,305
Total Revenue per Form 990
$867,148
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$457,121
Other Expenses$113,102
Total Fundraising Expense$112,898
Grants and Similar Amounts Paid$61,778
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$185,640$108,200$293,840
Other Salaries and Wages-$134,891-$134,891
Occupancy-$68,876-$68,876
Grants to Domestic Individuals$36,778--$36,778
Fees for Services Accounting-$30,566-$30,566
Grants to Domestic Orgs$25,000--$25,000
Payroll Taxes-$22,811-$22,811
Insurance-$4,634-$4,634
Other Employee Benefits-$4,379-$4,379
Office Expenses-$2,900-$2,900
Advertising--$2,618$2,618
Pension Plan Contributions-$1,200-$1,200
Other Expenses-$505$1,799$505
Conferences and Meetings--$267$267
Depreciation Depletion-$252-$252
Travel--$14$14
Total Functional Expenses$61,778$457,325$112,898$632,001

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$632,001
Total Expenses per Audited Statements$632,001
Total Expenses per Form 990$632,001
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Llewellyn Park Pres FoundtnWest Orange, NJ501(c)3To Support Preservation of the Park$12,500
New Jersey Hall of FameNewark, NJ501(c)3To Support Mobile Museum$12,500
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Taxes Payable$2,063
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“John p. Keegan, chairman and president of the edison innovation foundation is the father of george q. Keegan, secretary/treasurer/trustee.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Form 990 is reviewed prior to its filing by john p. Keegan, chairman and president of the edison innovation foundation, as well as a trustee of the foundation”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The foundation monitors and enforces compliance with the conflict of interest policy semi-annually at board meetings.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“SEE ANSWER FOR 15B BELOW”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“There is an annual review of compensation by the compensation committee of the board of trustees, through which the committee reviews compensation data and statistics regarding comparable organizations from the council on foundations and association of small foundations for guidance, and then makes its recommendations to the board regarding the appropriate amount of compensation.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The foundation does not disclose its governing documents, conflict of interest policy or its financial statements to the general public.please see continiuation of schedule o for other items”

Filing and Contact Details

Filer

Filer Name
Edison Innovation
EIN
22-3442892
Phone
9736480500
Address
1 RIVERFRONT PLAZA 3RD FLOOR, NEWARK, NJ 07102

Signing Officer

Name
John P Keegan
Title
Chairman and Pres
Signed
2022-10-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John P Keegan
Formed
1996
Legal Domicile
Nj
Voting Board Members
4
Independent Board Members
2
Employees
3
Volunteers
1

Preparer

Firm
Krim Landau LLC
Address
518 PROSPECT AVE, LITTLE SILVER, NJ 07739
Preparer
Robert S Krim
Phone
7329457600
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IRS990/OtherExpensesGrp/Desc0Printing and Publications
IRS990/OtherExpensesGrp/Desc1TELEPHONE
IRS990/OtherExpensesGrp/Desc2BANK FEES
IRS990/OtherExpensesGrp/FundraisingAmt01799
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0671
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1505
IRS990/OtherExpensesGrp/TotalAmt01799
IRS990/OtherExpensesGrp/TotalAmt1671
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IRS990/PayrollTaxesGrp/TotalAmt022811
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IRS990/PensionPlanContributionsGrp/TotalAmt01200
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt08099
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02074
IRS990/PrincipalOfficerNm0JOHN P KEEGAN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgSrvcAccomActy2Grp/Desc0EIF'S PRIMARY GOAL IS TO RAISE $90 MILLION FOR THE RESTORATION AND UPKEEP OF EDISON'S LEGACY THROUGHOUT AMERICA. ON OCTOBER 9TH, 2009, THE LEGENDARY EDISON LABS IN WEST ORANGE, NJ OPENED AFTER MORE THAN FIVE YEARS OF MAJOR RENOVATIONS. THESE BUILDINGS WERE IN CRITICAL NEED OF REPAIR, AND THE COLLECTIONS INCLUDING, NOTEBOOKS, EARLY PROTOTYPES, AND THOUSANDS OF EARLY RECORDINGS WERE IN DANGER OR BEING LOST DUE TO DETERIORATION. THE INITIAL FOCUS OF THIS CAMPAIGN WAS TO SUPPORT THE NEWLY RENAMED THOMAS EDISON NATIONAL HISTORICAL PARK("TENHP') AND ASSOCIATED EDUCATIONAL AND RESEARCH EFFORTS IN GENERAL. HOWEVER, DURING THIS INITIAL PHASE, EIF IS ALSO WORKING ON INDIVIDUAL PUBLIC SECTOR PROJECTS AS WELL AS FORMING ALLIANCES WITH OTHER ORGANIZATIONS AND FOUNDATIONS IN ORDER TO ACHIEVE EDUCATIONAL INITIATIVES. SOME RECENT PUBLIC SECTOR WORK IS DESCRIBED IN SECTION BELOW. (CONTINUED ON SCH O)
IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/PYOtherExpensesAmt0152983
IRS990/PYRevenuesLessExpensesAmt097551
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IRS990/PYTotalRevenueAmt0761133
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0674049
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0890597
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0413784
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03047998
IRS990ScheduleA/TotalSupportAmt03229368
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt0228
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04150
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04378
IRS990ScheduleD/ExpensesSubtotalAmt0632001
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0263706
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt027500
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0119380
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0146880
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02063
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL TAXES PAYABLE
IRS990ScheduleD/OtherRevenueAmt0-22549
IRS990ScheduleD/RevenueNotReportedAmt0241157
IRS990ScheduleD/RevenueSubtotalAmt0867148
IRS990ScheduleD/TotalBookValueLandBuildingsAmt027728
IRS990ScheduleD/TotalExpensesPerForm990Amt0632001
IRS990ScheduleD/TotalLiabilityAmt02063
IRS990ScheduleD/TotalRevenuePerForm990Amt0867148
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01108305
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0632001
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt010000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0TEACHERS AWARDS/STIPENDS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1PITCH CONTEST
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt2EDISON BULB/BASE/BUSTS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt3PITCH CONTEST
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt4GIFT CARDS
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceAmt1855
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceAmt219827
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceAmt31975
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc03D PRINTERS/STEM MAKER KITS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc1EDISON BULB/BASE/BUSTS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc2CONTEST KITS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc3GIFT CARDS
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt18
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt224
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt3159
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt428
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc0COST
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc1COST
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc2COST
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc3COST
IRS990ScheduleI/RecipientTable/CashGrantAmt012500
IRS990ScheduleI/RecipientTable/CashGrantAmt112500
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)3
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(C)3
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO SUPPORT PRESERVATION OF THE PARK
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1TO SUPPORT MOBILE MUSEUM
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0LLEWELLYN PARK PRES FOUNDTN
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1NEW JERSEY HALL OF FAME
IRS990ScheduleI/RecipientTable/RecipientEIN0202290473
IRS990ScheduleI/RecipientTable/RecipientEIN1223291935
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt021 GLEN AVE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1614 FRELINGHUYSEN AVE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0WEST ORANGE
IRS990ScheduleI/RecipientTable/USAddress/CityNm1NEWARK
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NJ
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1NJ
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd007052
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd107114
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0EDISON INNOVATION FOUNDATION (EIF) RECOMMENDS THAT A GRANT REQUEST BE SUBMITTED ON THE REQUESTING ORGANIZATIONS LETTERHEAD AND BE SIGNED BY AN OFFICIAL ON BEHALF OF THE GOVERNING BOARD. EIF DOES NOT REQUIRE OR SUPPLY APPLICATION FORMS. THE REQUEST SHOULD BE DETAILED, COMPLETE AND INCLUDE BACKGROUND INFORMATION ABOUT THE ORGANIZATION, A FULL EXPLANATION OF THE PROJECT AND ITS COSTS, AND A FINANCIAL REPORT, CURRENT BUDGET AND EVIDENCE OF TAX-EXEMPT STATUS OF THE REQUESTING ORGANIZATION. EIF MEETS TWICE A YEAR, USUALLY IN DECEMBER AND JULY AT WHICH TIME REQUESTS WHICH HAVE BEEN SUBMITTED AT LEAST THREE WEEKS PRIOR TO THE MEETING WILL BE CONSIDERED. PROGRESS REPORTS AND A FINAL ACCOUNTING OF THE USE OF THE GRANT FUNDS ARE REQUIRED OF ALL GRANT RECIPIENTS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Grantmaker's Description of How Grants are Used
IRS990ScheduleI/Total501c3OrgCnt02
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/FirstClassOrCharterTravelInd0X
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0185640
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOHN P KEEGAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Chairman,Pres
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0185640
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SubstantiationRequiredInd0true
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0ALL TRAVEL AND RELATED EXPENSES ARE AUTHORIZED AND APPROVED BY THE BOARD OF TRUSTEES AT MEETINGS IN ADVANCE OF TRAVEL RELATED EXPENDITURES TAKING PLACE.
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt1THERE IS NOT A WRITTEN POLICY, THE FOUNDATION FOLLOWS AN INFORMAL POLICY, WHEREAS ALL TRAVEL AND RELATED EXPENSES ARE AUTHORIZED AND APPROVED BY THE BOARD OF TRUSTEES IN ADVANCE OF RELATED EXPENDITURES AS DESCRIBED IN THE RESPONSE TO LINE 1A, ABOVE.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 1a: Relevant information in regards to selections on 1a.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc1Part I, Line 1b: Reason for not following policy regarding payment provisions for expenses
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleJ/TravelForCompanionsInd0X
IRS990ScheduleJ/WrittenPolicyRefTAndEExpnssInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0JOHN P. KEEGAN, CHAIRMAN AND PRESIDENT OF THE EDISON INNOVATION FOUNDATION IS THE FATHER OF GEORGE Q. KEEGAN, SECRETARY/TREASURER/TRUSTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED PRIOR TO ITS FILING BY JOHN P. KEEGAN, CHAIRMAN AND PRESIDENT OF THE EDISON INNOVATION FOUNDATION, AS WELL AS A TRUSTEE OF THE FOUNDATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FOUNDATION MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY SEMI-ANNUALLY AT BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SEE ANSWER FOR 15B BELOW

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,401,369
Liabilities
$62,721
Net assets
$2,338,648
Revenue
$867,148
Expenses
$632,001
Net income
$235,147
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$2.13$0.04$2.09$0.62$0.71$0.09
2022Summary only. Only limited summary data is available for this year.$2.15$0.03$2.12$0.76$0.68$0.08
2021Detailed filing. Detailed filing data is available for this year.$2.40$0.06$2.34$0.87$0.63$0.24
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.90$0.03$1.86$0.76$0.66$0.10
2019Summary only. Only limited summary data is available for this year.$1.78$0.03$1.75$0.45$0.62$0.17
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.72$0.06$1.66$0.98$0.67$0.30
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.56$0.03$1.52$0.41$0.79$0.38
2016Summary only. Only limited summary data is available for this year.$1.87$0.03$1.83$0.38$0.84$0.45
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.30$0.03$2.27$0.51$0.76$0.24
2014Detailed filing. Detailed filing data is available for this year.$2.68$0.04$2.65$0.47$0.63$0.16
2013Detailed filing. Detailed filing data is available for this year.$2.73$0.03$2.70$0.36$1.23$0.87
2012Summary only. Only limited summary data is available for this year.$3.47$0.04$3.44$1.02$0.58$0.44
2011Summary only. Only limited summary data is available for this year.$2.98$0.04$2.94$0.59$0.61$0.03
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2021 filings • 501(c)3 • $1M-$5M nonprofits