Civic Intelligence

Fuel Education Inc

990 • Fiscal year 2020 • EIN 27-1462229

Jan 01, 2020 to Dec 31, 2020 • Filed on May 11, 2021

Organization ProfileWWW.INVERSANT.ORG
561 Boylston Street 4th FloorBoston, MA 02116-3632

(617) 423-0211

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$1,714,535

Flat from 2020

Net Assets

Flat

$1,308,902

Flat from 2020

Liabilities

Flat

$405,633

Flat from 2020

Revenue And Expenses

Revenue

Flat

$2,732,725

Flat from 2020

Expenses

Flat

$1,618,019

Flat from 2020

Net Income

Flat

$1,114,706

Flat from 2020

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $78,773Liabilities 2011: $12,744Net Assets 2011: $66,0292011Assets 2012: $141,579Liabilities 2012: $10,031Net Assets 2012: $131,5482012Assets 2014: $548,934Liabilities 2014: $305,572Net Assets 2014: $243,3622014Assets 2016: $531,967Liabilities 2016: $323,965Net Assets 2016: $208,0022016Assets 2017: $265,548Liabilities 2017: $9,601Net Assets 2017: $255,9472017Assets 2018: $185,157Liabilities 2018: $2,164Net Assets 2018: $182,9932018Assets 2019: $218,947Liabilities 2019: $24,750Net Assets 2019: $194,1972019Assets 2020: $1,714,535Liabilities 2020: $405,633Net Assets 2020: $1,308,9022020Assets 2020: $1,714,535Liabilities 2020: $405,633Net Assets 2020: $1,308,9022020Assets 2021: $1,260,534Liabilities 2021: $646,244Net Assets 2021: $614,2902021Assets 2022: $837,041Liabilities 2022: $788,272Net Assets 2022: $48,7692022

Highlighted filing

2020

Assets$1,714,535
Liabilities$405,633
Net Assets$1,308,902
Open 2020 Filing

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $809,5082011Expenses 2012: $896,4592012Revenue 2014: $1,145,948Expenses 2014: $991,160Net Income 2014: $154,7882014Revenue 2016: $1,205,446Expenses 2016: $1,112,597Net Income 2016: $92,8492016Revenue 2017: $1,111,630Expenses 2017: $1,063,685Net Income 2017: $47,9452017Revenue 2018: $1,078,536Expenses 2018: $1,151,490Net Income 2018: -$72,9542018Revenue 2019: $1,181,330Expenses 2019: $1,170,126Net Income 2019: $11,2042019Revenue 2020: $2,732,725Expenses 2020: $1,618,019Net Income 2020: $1,114,7062020Revenue 2020: $2,732,725Expenses 2020: $1,618,019Net Income 2020: $1,114,7062020Revenue 2021: $1,077,205Expenses 2021: $1,712,455Net Income 2021: -$635,2502021Revenue 2022: $499,150Expenses 2022: $1,064,672Net Income 2022: -$565,5222022

Highlighted filing

2020

Revenue$2,732,725
Expenses$1,618,019
Net Income$1,114,706
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 11, 2021
Return Version
2020v4.1
Gross Receipts
$2,732,725
Mission and Program Overview

Mission

Inversant's mission is to ensure that through parental engagement every low-to-moderate income family has the resources and understanding they need to achieve their goals for higher education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$22,248$1,150,443▲ $1,128,195
Savings and Temporary Cash Investments$170,579$437,389▲ $266,810
Land, Buildings, and Equipment, Net$26,120$100,059▲ $73,939
Prepaid Expenses and Deferred Charges-$26,644-
Total Assets$218,947$1,714,535▲ $1,495,588
Liabilities
Unsecured Notes Loans Payable-$149,900-
Accounts Payable and Accrued Expenses$24,750$140,933▲ $116,183
Other Liabilities$0$114,800▲ $114,800
Total Liabilities$24,750$405,633▲ $380,883
Net Assets / Fund Balance
Net Assets With Donor Restrictions$25,000$1,150,443▲ $1,125,443
Net Assets Without Donor Restrictions$169,197$158,459▼ $10,738
Total Net Assets Fund Balance$194,197$1,308,902▲ $1,114,705
Total Liabilities and Net Assets / Fund Balance$218,947$1,714,535▲ $1,495,588

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$97,450$19,490$116,940
Leasehold Improvements$2,092$29,292$31,384
Equipment$517$4,868$5,385
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Heidi HanckockDirector of AdvancementFT$135,000$17,546$152,546
Charles DesmondCEO-$101,500-$101,500

Board Members and Trustees

NameTitle
Robert J HildrethPresident/chairman
Angela ErvinDirector
Dean AtkinsDirector
Donna StewartsonDirector
Fernando ReimersDirector
Jon RotenbergDirector
Laurent De GreefDirector
Michael DouvadjianDirector
Michael TaylorDirector
Richard ReidyDirector
Robert CashmanDirector
Roz HillDirector
Ruth MoormanDirector
Sally CurrierDirector
Stacy ScottDirector
Gladys VegaFormer Director
Meghan BurkeFormer Director
Winston LangleyFormer Director
Benjamin HildrethTreasurer/clerk

Highest Paid Contractors

ContractorServicesLocationCompensation
Brilla LLCDigital Strategy & Marketing Consulting1309 COFFEEN AVESTE 1247, Sheridan, WY 82801$309,731
Revenue and Support

Revenue Composition

Contributions and Grants
$2,732,711
Program Service Revenue
$0
Investment Income
$14
Other Revenue
$0
All Other Contributions
$2,732,711
Change in Net Assets
$1,114,706

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeReported AmountValuation Method
Other Non Cash Contri Table$46,715Hours Time Reduced
Total Noncash Contributions$46,715-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,732,724
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$339,930
Total Revenue per Audited Statements
$3,072,654
Total Revenue per Form 990
$2,732,724
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$799,080
Other Expenses$588,403
Total Fundraising Expense$303,683
Grants and Similar Amounts Paid$179,647
Professional Fundraising Fees$50,889

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$352,450$82,533$160,489$595,472
Fees for Services Other$248,971$32,740$25,688$307,399
Occupancy$72,382$15,048$22,459$109,889
Grants to Domestic Orgs$105,832--$105,832
Current Officers, Directors, Trustees, and Key Employees$76,125$25,375-$101,500
Grants to Domestic Individuals$73,815--$73,815
Payroll Taxes$33,796$8,502$12,689$54,987
Fees for Services Professional Fundraising--$50,889$50,889
Fees for Services Accounting-$47,220-$47,220
Other Employee Benefits$28,758$7,143$11,220$47,121
Depreciation Depletion$26,429$6,649$9,923$43,001
Office Expenses$20,547$9,442$4,524$34,513
Information Technology$15,216$4,961$5,316$25,493
Conferences and Meetings$12,837--$12,837
Advertising$4,811--$4,811
Travel$2,300$454$486$3,240
Total Functional Expenses$1,074,269$240,067$303,683$1,618,019

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,957,949
Expenses per Audited Statements$1,618,019
Total Expenses per Form 990$1,618,019
Expenses Not Reported on Form 990$339,930
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Boys and Girls Club of BostonBoston, MA-To Fund Partner Program$50,646
Salem Public SchoolsSalem, MA-To Fund Partner Program$36,405
La Vida IncLynn, MA-To Fund Partner Program$11,000
Kipp Academy Lynn Collegiate High SchoolLynn, MA-To Fund Partner Program$5,545
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$50,889
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Managing Member of LLC Is a Member of the Board of DirectorsThe Organization Leases Office Facility From Llc.No$101,306
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Conditional Grant Advance$114,800
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with 35% controlled entity
Yes
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, Section A, Line 2

“The president and treasurer/clerk of the organization are father and son.”

Form 990, Part VI, Section A, Line 8B

“Individual committees are not authorized to vote on behalf of the governing board.”

Form 990, Part VI, Section B, Line 11B

“A copy of the 990 is provided to the governing body of the organization prior to filing.”

Form 990, Part VI, Section B, Line 12C

“The organization requires all board members and key employees to sign a conflict of interest disclosure form annually. Board members are questioned as to any changes in their relationship with the organization at monthly board meetings.”

Form 990, Part VI, Section B, Line 15

“All compensation of the organization's key employees is approved by the board of directors.”

Form 990, Part VI, Section C, Line 18

“AVAILABLE UPON REQUEST”

Form 990, Part VI, Section C, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Inversant Inc
EIN
27-1462229
Phone
6174230211
Address
561 BOYLSTON STREET 4TH FLOOR, BOSTON, MA 02116-3632

Signing Officer

Name
Heidi Hancock
Title
CEO
Phone
6174230211
Signed
2021-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Heidi Hancock
Formed
2009
Legal Domicile
Ma
Voting Board Members
16
Independent Board Members
16
Employees
12
Volunteers
40

Preparer

Firm
Smith Sullivan & Brown Pc
Address
80 FLANDERS ROAD - SUITE 200, WESTBOROUGH, MA 01581
Preparer
Sandra M Brown CPA
Phone
5088717178
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Other professional fees: program service expenses 248,971. Management and general expenses 32,740. Fundraising expenses 25,688. Total expenses 307,399.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0IN 2020, INVERSANT INCREASED THE TOTAL NUMBER OF FAMILIES SERVED FROM 1,800 TO 2,000, CELEBRATING 164 ACCOMPLISHED 2020 HIGH SCHOOL GRADUATES FROM 159 INVERSANT FAMILIES IN EIGHT BOSTON-AREA CITIES. 145 FAMILIES RECEIVED $103,296 IN SAVINGS MATCH DISTRIBUTIONS. AS THE COVID-19 PANDEMIC CREATED WIDE-RANGING IMPACTS ON OUR OPERATIONS, WE DESIGNED, BUILT, AND IMPLEMENTED A COMPREHENSIVE WEB-BASED DIGITAL INFRASTRUCTURE THAT WILL PROVIDE ACCESS TO ALL OF OUR EDUCATIONAL RESOURCES. IN RESPONSE TO THE ADDITIONAL FINANCIAL STRAIN THE PANDEMIC HAD ON INVERSANT'S STUDENTS AND FAMILIES, WE DEPLOYED AN ALUMNI ASSISTANCE EMERGENCY FUND WHICH PROVIDED $43,500 IN EMERGENCY FUNDS TO 435 INVERSANT ALUMNI FAMILIES. WE ALSO LAUNCHED A NEW NEEDS-BASED SCHOLARSHIP FOCUSED ON ADDRESSING STUDENTS AT HIGH RISK OF DROPPING OUT OF HIGHER EDUCATION. 7,123 STUDENTS INITIATED APPLICATIONS AND 1,147 SUBMITTED THEM. TEN STUDENTS RECEIVED A TOTAL OF $25,000 FROM THIS PILOT SCHOLARSHIP.
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt200
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT/CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2FORMER DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10FORMER DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13TREASURER/CLERK
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18FORMER DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR OF ADVANCEMENT
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IRS990/FormationYr02009
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IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt016
IRS990/GrantAmt0179647
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt073815
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt073815
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt0105832
IRS990/GrantsToDomesticOrgsGrp/TotalAmt0105832
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IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt02732725
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt016
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IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/FundraisingAmt05316
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt04961
IRS990/InformationTechnologyGrp/ProgramServicesAmt015216
IRS990/InformationTechnologyGrp/TotalAmt025493
IRS990/InvestmentIncomeGrp/ExclusionAmt014
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt014
IRS990/InvestmentInJointVentureInd00
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IRS990/LandBldgEquipCostOrOtherBssAmt0153709
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IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0INVERSANT'S MISSION IS TO ENSURE THAT THROUGH PARENTAL ENGAGEMENT EVERY LOW-TO-MODERATE INCOME FAMILY HAS THE RESOURCES AND UNDERSTANDING THEY NEED TO ACHIEVE THEIR GOALS FOR HIGHER EDUCATION.
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IRS990/MoreThan5000KToOrgInd00
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IRS990/NondeductibleContributionsInd00
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IRS990/OccupancyGrp/ManagementAndGeneralAmt015048
IRS990/OccupancyGrp/ProgramServicesAmt072382
IRS990/OccupancyGrp/TotalAmt0109889
IRS990/OfficeExpensesGrp/FundraisingAmt04524
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt09442
IRS990/OfficeExpensesGrp/ProgramServicesAmt020547
IRS990/OfficeExpensesGrp/TotalAmt034513
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt011220
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt07143
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt028758
IRS990/OtherEmployeeBenefitsGrp/TotalAmt047121
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01092693
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01141548
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt07226814
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt016379
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt016397
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.53620
IRS990ScheduleA/PublicSupportPY170Pct00.49240
IRS990ScheduleA/PublicSupportTotal170Amt03883642
IRS990ScheduleA/SubstantialContributorsTotAmt03343172
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt02732711
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01181330
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01078532
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01092693
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01141548

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,714,535
Liabilities
$405,633
Net assets
$1,308,902
Revenue
$2,732,725
Expenses
$1,618,019
Net income
$1,114,706
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$0.84$0.79$0.05$0.50$1.06$0.57
2021Detailed filing. Detailed filing data is available for this year.$1.26$0.65$0.61$1.08$1.71$0.64
2020Detailed filing. Detailed filing data is available for this year.$1.71$0.41$1.31$2.73$1.62$1.11
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.71$0.41$1.31$2.73$1.62$1.11
2019Detailed filing. Detailed filing data is available for this year.$0.22$0.02$0.19$1.18$1.17$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.19$0.00$0.18$1.08$1.15$0.07
2017Detailed filing. Detailed filing data is available for this year.$0.27$0.01$0.26$1.11$1.06$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.53$0.32$0.21$1.21$1.11$0.09
2014Detailed filing. Detailed filing data is available for this year.$0.55$0.31$0.24$1.15$0.99$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.14$0.01$0.13$0.90
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.08$0.01$0.07$0.81