Civic Intelligence

Innovation Ohio Education Fund

990 • Fiscal year 2017 • EIN 27-4562105

Jan 01, 2017 to Dec 31, 2017 • Filed on Sep 19, 2018

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

97th percentile

2.35x

Higher debt load relative to assets than 97% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

98th percentile

3.55x

Higher debt load relative to revenue than 98% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

11th percentile

-32%

Higher net margin than 11% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

98th percentile

$95,000

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 57.9% of source-year revenue.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

60th percentile

8.2%

Faster asset growth than 60% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

17th percentile

-30%

Faster revenue growth than 17% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets97th percentile

Assets

Up

$247,743

Up $18,762 (+8.2%) from 2016

Net Assets

Down

-$335,155

Down $53,178 (-19%) from 2016

Liabilities

Up

$582,898

Up $71,940 (+14%) from 2016

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin11th percentile

Revenue

Down

$164,084

Down $69,019 (-30%) from 2016

Expenses

Up

$217,262

Up $44,687 (+26%) from 2016

Net Income

Down

-$53,178

Down $113,706 (-188%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth60th 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

2017

Assets$247,743
Liabilities$582,898
Net Assets-$335,155
Open 2017 Filing

Operations Trend

Revenue Growth17th 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

2017

Revenue$164,084
Expenses$217,262
Net Income-$53,178
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Sep 19, 2018
Return Version
2017v2.2
Gross Receipts
$185,283
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$105,309$149,410▲ $44,101
Investments in Publicly Traded Securities$93,785$72,586▼ $21,199
Accounts Receivable$5,000$7,500▲ $2,500
Cash and Non-Interest-Bearing Accounts$13,826$7,261▼ $6,565
Prepaid Expenses and Deferred Charges$550$466▼ $84
Rtn Earn Endowment Incm Other Fnds$-281,977$-335,155▼ $53,178
Total Assets$228,981$247,743▲ $18,762
Other Assets Total$10,511$10,520▲ $9
Liabilities
Other Liabilities$502,188$568,613▲ $66,425
Accounts Payable and Accrued Expenses$8,770$14,285▲ $5,515
Total Liabilities$510,958$582,898▲ $71,940
Net Assets / Fund Balance
Total Net Assets Fund Balance$-281,977$-335,155▼ $53,178
Total Liabilities and Net Assets / Fund Balance$228,981$247,743▲ $18,762

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$3,000-
Other Assets Org$10,520--
Compensation and Service Providers
Top Officer Pay98th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Janetta KingPresidentPT$95,000$95,000
Keary McCarthyCEOPT$60,000$60,000

Board Members and Trustees

NameTitle
Kenneth CaranoSecretary
Christine EmchTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$132,195
Program Service Revenue
$25,000
Investment Income
$6,889
Other Revenue
$0
All Other Contributions
$132,195
Change in Net Assets
$-53,178
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$163,172
Other Expenses$54,090
Total Fundraising Expense$28,145
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$80,861$2,149-$83,010
Current Officers, Directors, Trustees, and Key Employees$20,372$20,372$20,372$61,116
Office Expenses$1,650$16,955-$18,605
Occupancy-$12,045-$12,045
Fees for Services Other$9,316$1,375-$10,691
Other Employee Benefits$6,853$1,524$1,379$9,756
Payroll Taxes$6,522$1,449$1,319$9,290
Fees for Services Accounting-$6,523-$6,523
Travel--$4,975$4,975
Insurance-$670-$670
Interest-$337-$337
Fees for Services Legal-$144-$144
Other Expenses--$100$100
Total Functional Expenses$125,574$63,543$28,145$217,262
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payable to Innovation Ohio$568,613
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
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 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 - Keary McCarthy serves as CEO for Innovation Ohio Education Fund (a 501(c)(3)), and Innovation Ohio (a 501(c)(4)), and Janetta King serves as President of both Innovation Ohio Education Fund and Innovation Ohio. The full amounts of their compensation are being disclosed on the Forms 990 of both of these entities, rather than dividing them between the two. Each organization, however, pays its allocable share of Mr. McCarthys and Ms. Kings 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
2018-09-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Janetta King
Formed
2011
Legal Domicile
Oh
Voting Board Members
3
Independent Board Members
2
Employees
6
Volunteers
3

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.”

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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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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt060313
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0105359
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0641845
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The form 990 was reviewed by the governing body prior to being filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All officers, directors and key employees sign a notice and acknowledgement of conflict of interest policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Executive Committee of the Board of Directors regularly reviews and fixes the compensation of the CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Compensation for other officers and key employees are determined by the CEO, subject to the review of the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The governing documents are maintained at the place of business and are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Part VII, Section A, Line 3 - Keary McCarthy serves as CEO for Innovation Ohio Education Fund (a 501(c)(3)), and Innovation Ohio (a 501(c)(4)), and Janetta King serves as President of both Innovation Ohio Education Fund and Innovation Ohio. The full amounts of their compensation are being disclosed on the Forms 990 of both of these entities, rather than dividing them between the two. Each organization, however, pays its allocable share of Mr. McCarthys and Ms. Kings compensation, based on hours worked for each organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Other fees consists of payments made to contractors for services related to the tax-exempt purpose of the organization.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Compensation reported on a part-year basis from related organization Part VII Col D E F
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6List of other fees for services expenses Part IX line 11g
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0Battleground Research Inc
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt035 East Gay St Suite 250
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0Columbus
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0OH
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd043215
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Innovation Ohio
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0274562062
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Public Education
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IRS990/WebsiteAddressTxt0www.innovationohioedfund.org
IRS990/WhistleblowerPolicyInd0true
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ReturnHeader/FilingSecurityInformation/IPTm014:23:00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$247,743
Liabilities
$582,898
Net assets
-$335,155
Revenue
$164,084
Expenses
$217,262
Net income
-$53,178
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
2017Detailed filing. Detailed filing data is available for this year.$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