Innovators for Purpose Inc

“Two board members are married, both have full voting rights, founders of the organization, receive salaries.”

“The Organization has power point slides which present the topics of each board of directors meetings.”

“The Organization has power point slides for each meeting.”

“Director of the Organization reviews and approves form 990 and PC before filing.”

“Board of Directors review and approve compensation for executive director annually”

“Board of Directors review and approve the comensation for the key employee annually”

“Governing documents, policies, and financial statements are available to general public upon request.”

“Professional services $71,695”

“Contributed services are recognized when they create or enhance nonfinancial assets or require specialized skills that are provided by individuals possessing those skills, in accordance with GAAP. During the fiscal year ended June 30, 2025, the Organization received contributed services from students who performed various design-related projects during the summer and school year. The value of these services, estimated at $80,209, is reflected in the form 990 and financial statements of the organization. The Organization has an agreement with the City of Cambridge under which the city pays earned stipends directly to the participating students for the hours worked on the Organizations projects. Donated facilities, services, and assets are recorded at the estimated fair value provided to the Organization. During fiscal year ended June 30, 2025, donated facility amounting to $29,700 were received and are recorded in form 990 on statement of activity as in-kind rent income. The organization has assigned fair market value to the leased facilities based on the location, similar spaces available for lease, and times used. The facilities are used for program activities and shared with others users.”