Civic Intelligence

Innovation Ohio Education Fund

990 • Fiscal year 2014 • EIN 27-4562105

Jan 01, 2014 to Dec 31, 2014 • Filed on May 19, 2015

Organization Profilewww.innovationohioedfund.org
35 East Gay StreetColumbus, OH 43215

(614) 220-0150

Siviq Scores

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

Liabilities / Assets

96th percentile

1.45x

Higher debt load relative to assets than 96% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Liabilities / Revenue

99th percentile

14.80x

Higher debt load relative to revenue than 99% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Net Margin

8th percentile

-33%

Higher net margin than 8% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Top Officer Pay

52nd percentile

$18,231

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 30.2% of source-year revenue.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Asset Growth

85th percentile

33%

Faster asset growth than 85% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Revenue Growth

6th percentile

-43%

Faster revenue growth than 6% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$616,658

Up $152,915 (+33%) from 2013

Net Assets

Down

-$275,753

Down $20,098 (-7.9%) from 2013

Liabilities

Up

$892,411

Up $173,013 (+24%) from 2013

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin8th percentile

Revenue

Down

$60,313

Down $45,078 (-43%) from 2013

Expenses

Down

$80,411

Down $121,502 (-60%) from 2013

Net Income

Up

-$20,098

Up $76,424 (+79%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth85th percentile

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

$1.0M$500K$0-$500KAssets 2011: $12,680Liabilities 2011: $109,759Net Assets 2011: -$97,0792011Assets 2012: $185,887Liabilities 2012: $345,020Net Assets 2012: -$159,1332012Assets 2013: $463,743Liabilities 2013: $719,398Net Assets 2013: -$255,6552013Assets 2014: $616,658Liabilities 2014: $892,411Net Assets 2014: -$275,7532014Assets 2015: $626,206Liabilities 2015: $968,711Net Assets 2015: -$342,5052015Assets 2016: $228,981Liabilities 2016: $510,958Net Assets 2016: -$281,9772016Assets 2017: $247,743Liabilities 2017: $582,898Net Assets 2017: -$335,1552017Assets 2018: $309,223Liabilities 2018: $640,038Net Assets 2018: -$330,8152018Assets 2019: $250,137Liabilities 2019: $583,748Net Assets 2019: -$333,6112019Assets 2020: $79,507Liabilities 2020: $413,191Net Assets 2020: -$333,6842020Assets 2021: $79,253Liabilities 2021: $15,895Net Assets 2021: $63,3582021Assets 2022: $217,939Liabilities 2022: $10,036Net Assets 2022: $207,9032022Assets 2024: $441,632Liabilities 2024: $8,748Net Assets 2024: $432,8842024

Highlighted filing

2014

Assets$616,658
Liabilities$892,411
Net Assets-$275,753
Open 2014 Filing

Operations Trend

Revenue Growth6th percentile

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

$1.0M$500K$0-$500KExpenses 2011: $161,4092011Expenses 2012: $149,6062012Revenue 2013: $105,391Expenses 2013: $201,913Net Income 2013: -$96,5222013Revenue 2014: $60,313Expenses 2014: $80,411Net Income 2014: -$20,0982014Revenue 2015: $104,057Expenses 2015: $170,809Net Income 2015: -$66,7522015Revenue 2016: $233,103Expenses 2016: $172,575Net Income 2016: $60,5282016Revenue 2017: $164,084Expenses 2017: $217,262Net Income 2017: -$53,1782017Revenue 2018: $269,889Expenses 2018: $265,549Net Income 2018: $4,3402018Revenue 2019: $586,760Expenses 2019: $589,556Net Income 2019: -$2,7962019Revenue 2020: $671,057Expenses 2020: $671,130Net Income 2020: -$732020Revenue 2021: $908,589Expenses 2021: $511,547Net Income 2021: $397,0422021Revenue 2022: $803,163Expenses 2022: $658,618Net Income 2022: $144,5452022Revenue 2024: $641,556Expenses 2024: $553,183Net Income 2024: $88,3732024

Highlighted filing

2014

Revenue$60,313
Expenses$80,411
Net Income-$20,098
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 19, 2015
Return Version
2014v5.0
Gross Receipts
$60,313
Mission and Program Overview

Mission

Public Policy Education

Innovation Ohio Education Fund was organized to operate exclusively for charitable and educational purposes, including, but not limited to, providing the general public with information about public policy choices impacting Ohioans.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$449,885$595,258▲ $145,373
Accounts Receivable-$10,000-
Cash and Non-Interest-Bearing Accounts$1,858--
Land, Buildings, and Equipment, Net$1,500$900▼ $600
Rtn Earn Endowment Incm Other Fnds$-255,655$-275,753▼ $20,098
Total Assets$463,743$616,658▲ $152,915
Other Assets Total$10,500$10,500→ $0
Liabilities
Other Liabilities$713,656$888,359▲ $174,703
Accounts Payable and Accrued Expenses$5,742$4,052▼ $1,690
Total Liabilities$719,398$892,411▲ $173,013
Net Assets / Fund Balance
Total Net Assets Fund Balance$-255,655$-275,753▼ $20,098
Total Liabilities and Net Assets / Fund Balance$463,743$616,658▲ $152,915

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$900$2,100-
Other Assets Org$10,500--
Compensation and Service Providers
Top Officer Pay52nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Keary McCarthyCEOFT$18,231$18,231
Janetta KingPresident-$17,367$17,367

Board Members and Trustees

NameTitle
Kenneth CaranoSecretary
Christine Emch ThompsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$60,313
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$60,313
Change in Net Assets
$-20,098
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$49,561
Salaries, Compensation, and Employee Benefits$29,706
Total Fundraising Expense$10,345
Professional Fundraising Fees$1,144
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$23,626$4,843$4,118$32,587
Other Salaries and Wages$10,087$5,322-$15,409
Current Officers, Directors, Trustees, and Key Employees$3,664$3,664$3,664$10,992
Occupancy-$6,332-$6,332
Office Expenses-$3,531-$3,531
Fees for Services Accounting-$3,505-$3,505
Payroll Taxes$1,201$784$320$2,305
Fees for Services Legal-$1,350-$1,350
Fees for Services Professional Fundraising--$1,144$1,144
Other Employee Benefits$521$340$139$1,000
Other Expenses--$625$625
Depreciation Depletion-$600-$600
Insurance-$534-$534
Travel--$335$335
Interest-$162-$162
Total Functional Expenses$39,099$30,967$10,345$80,411
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$1,144
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payable to Innovation Ohio$888,359
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
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

Organizational document changes Part VI line 4

“Prior to 2014 the President of the Board of Directors also served as the CEO of the organization. During 2014 these positions were separated and filled by two different people. The organizational documents were amended to reflect this change.”

Form 990 governing body review Part VI line 11

“The form 990 was reviewed by the governing body prior to being filed.”

Conflict of interest policy compliance Part VI line 12C

“All officers, directors and key employees sign a notice and acknowledgement of conflict of interest policy.”

CEO executive director top management comp Part VI line 15A

“The Executive Committee of the Board of Directors regularly reviews and fixes the compensation of the CEO.”

Other officer or key employee compensation Part VI line 15B

“Compensation for other officers and key employees are determined by the CEO, subject to the review of the Board of Directors.”

Governing documents etc available to public Part VI line 19

“The governing documents are maintained at the place of business and are available upon request.”

Compensation reported on A part-year basis from related organization Part VII Col D E F

“PART VII, SECTION A, LINE 3 The compensated officer(s) hold the same positions for both Innovation Ohio Education Fund (a 501(c)(3)) and Innovation Ohio (a 501(c)(4)). The full amount of their compensation is being disclosed on the Forms 990 of Innovation Ohio and Innovation Ohio Education Fund, rather than dividing the compensation between the entities. Each organization, however, paid its allocable share of compensation, based on hours worked for each organization.”

Filing and Contact Details

Filer

Filer Name
Innovation Ohio Education Fund
EIN
27-4562105
Address
35 East Gay Street, Columbus, OH 43215

Signing Officer

Name
Keary McCarthy
Title
CEO
Phone
6142200150
Signed
2015-05-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Keary McCarthy
Formed
2011
Legal Domicile
Oh
Voting Board Members
3
Independent Board Members
3
Employees
7
Volunteers
5

Preparer

Firm
Saloom Consulting Ltd
Address
PO Box 2040, Westerville, OH 43086
Preparer
Joe Saloom
Phone
6143420272
Supplemental Narrative

Additional Explanations

List of other fees for services expenses Part IX line 11G

“Other fees consists of payments made to contractors for services related to the tax-exempt purpose of the organization.”

Raw XML AppendixShowing 400 of 403 raw XML fields

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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Prior to 2014 the President of the Board of Directors also served as the CEO of the organization. During 2014 these positions were separated and filled by two different people. The organizational documents were amended to reflect this change.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The form 990 was reviewed by the governing body prior to being filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2All officers, directors and key employees sign a notice and acknowledgement of conflict of interest policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Executive Committee of the Board of Directors regularly reviews and fixes the compensation of the CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Compensation for other officers and key employees are determined by the CEO, subject to the review of the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The governing documents are maintained at the place of business and are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6PART VII, SECTION A, LINE 3 The compensated officer(s) hold the same positions for both Innovation Ohio Education Fund (a 501(c)(3)) and Innovation Ohio (a 501(c)(4)). The full amount of their compensation is being disclosed on the Forms 990 of Innovation Ohio and Innovation Ohio Education Fund, rather than dividing the compensation between the entities. Each organization, however, paid its allocable share of compensation, based on hours worked for each organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Other fees consists of payments made to contractors for services related to the tax-exempt purpose of the organization.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Organizational document changes Part VI line 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Compensation reported on a part-year basis from related organization Part VII Col D E F
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7List of other fees for services expenses Part IX line 11g
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IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
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IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0true
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
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IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0888359
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1595258
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IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
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IRS990/SignificantNewProgramSrvcInd0false
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IRS990/StatesWhereCopyOfReturnIsFldCd1CA
IRS990/StatesWhereCopyOfReturnIsFldCd2IL
IRS990/StatesWhereCopyOfReturnIsFldCd3MA
IRS990/StatesWhereCopyOfReturnIsFldCd4NY
IRS990/StatesWhereCopyOfReturnIsFldCd5PA
IRS990/StatesWhereCopyOfReturnIsFldCd6DC
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IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/EOYAmt0616658
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IRS990/TotalContributionsAmt060313
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IRS990/TotalFunctionalExpensesGrp/FundraisingAmt010345
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt030967
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt039099
IRS990/TotalFunctionalExpensesGrp/TotalAmt080411
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0719398
IRS990/TotalLiabilitiesEOYAmt0892411
IRS990/TotalLiabilitiesGrp/BOYAmt0719398
IRS990/TotalLiabilitiesGrp/EOYAmt0892411
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-255655
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-275753
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt039099
IRS990/TotalReportableCompFromOrgAmt035598
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt060313
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0616658
IRS990/TotReportableCompRltdOrgAmt00
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IRS990/TravelGrp/FundraisingAmt0335
IRS990/TravelGrp/TotalAmt0335
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0true
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0www.innovationohioedfund.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Keary McCarthy
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ReturnHeader/BusinessOfficerGrp/PhoneNum06142200150
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ReturnHeader/Filer/EIN0274562105
ReturnHeader/Filer/USAddress/AddressLine1Txt035 East Gay Street
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ReturnHeader/Filer/USAddress/ZIPCd043215
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Saloom Consulting Ltd
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO Box 2040
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Westerville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd043086
ReturnHeader/PreparerPersonGrp/PhoneNum06143420272
ReturnHeader/PreparerPersonGrp/PreparationDt02015-07-25
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Joe Saloom
ReturnHeader/ReturnTs02015-07-25T11:02:24-04:00
ReturnHeader/ReturnTypeCd0990

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$616,658
Liabilities
$892,411
Net assets
-$275,753
Revenue
$60,313
Expenses
$80,411
Net income
-$20,098
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.42$0.09$4.33$6.42$5.53$0.88
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.18$0.10$2.08$8.03$6.59$1.45
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.79$0.16$0.63$9.09$5.12$3.97
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.80$4.13$3.34$6.71$6.71$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.50$5.84$3.34$5.87$5.90$0.03
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.09$6.40$3.31$2.70$2.66$0.04
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.48$5.83$3.35$1.64$2.17$0.53
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.29$5.11$2.82$2.33$1.73$0.61
2015Detailed filing. Detailed filing data is available for this year.$6.26$9.69$3.43$1.04$1.71$0.67
2014Detailed filing. Detailed filing data is available for this year.$6.17$8.92$2.76$0.60$0.80$0.20
2013Detailed filing. Detailed filing data is available for this year.$4.64$7.19$2.56$1.05$2.02$0.97
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.86$3.45$1.59$1.50
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.13$1.10$0.97$1.61