Civic Intelligence

Diversity & Innovation Institute Inc.

990 • Fiscal year 2023 • EIN 45-2836061

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 22, 2024

Refreshing map…

9100 Purdue Rd Suite 410Indianapolis, IN 46268

(317) 703-7836

Siviq Scores

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

Liabilities / Assets

86th percentile

0.58x

Higher debt load relative to assets than 86% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

79th percentile

0.45x

Higher debt load relative to revenue than 79% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

91st percentile

51%

Higher net margin than 91% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

81st percentile

$141,865

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 12.5% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

97th percentile

190%

Faster asset growth than 97% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

96th percentile

229%

Faster revenue growth than 96% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$886,752

Up $581,202 (+190%) from 2022

Net Assets

Up

$370,766

Up $576,974 (+280%) from 2022

Liabilities

Up

$515,986

Up $4,228 (+0.8%) from 2022

Revenue

Up

$1,136,621

Up $791,486 (+229%) from 2022

Expenses

Up

$559,647

Up $102,772 (+22%) from 2022

Net Income

Up

$576,974

Up $688,714 (+616%) from 2022

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0-$500KAssets 2016: $87,391Liabilities 2016: $0Net Assets 2016: $87,3912016Assets 2017: $114,728Liabilities 2017: $1,232Net Assets 2017: $113,4962017Assets 2018: $103,312Liabilities 2018: $4,192Net Assets 2018: $99,1202018Assets 2019: $342,645Liabilities 2019: $49,760Net Assets 2019: $292,8852019Assets 2020: $269,414Liabilities 2020: $163,447Net Assets 2020: $105,9672020Assets 2021: $427,938Liabilities 2021: $522,406Net Assets 2021: -$94,4682021Assets 2022: $305,550Liabilities 2022: $511,758Net Assets 2022: -$206,2082022Assets 2023: $886,752Liabilities 2023: $515,986Net Assets 2023: $370,7662023Assets 2024: $552,083Liabilities 2024: $503,508Net Assets 2024: $48,5752024

Highlighted filing

2023

Assets$886,752
Liabilities$515,986
Net Assets$370,766

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2016: $97,339Expenses 2016: $80,181Net Income 2016: $17,1582016Revenue 2017: $1,397,974Expenses 2017: $1,346,187Net Income 2017: $51,7872017Revenue 2018: $681,635Expenses 2018: $696,011Net Income 2018: -$14,3762018Revenue 2019: $835,235Expenses 2019: $641,470Net Income 2019: $193,7652019Revenue 2020: $446,756Expenses 2020: $633,674Net Income 2020: -$186,9182020Revenue 2021: $307,339Expenses 2021: $507,774Net Income 2021: -$200,4352021Revenue 2022: $345,135Expenses 2022: $456,875Net Income 2022: -$111,7402022Revenue 2023: $1,136,621Expenses 2023: $559,647Net Income 2023: $576,9742023Revenue 2024: $598,260Expenses 2024: $807,320Net Income 2024: -$209,0602024

Highlighted filing

2023

Revenue$1,136,621
Expenses$559,647
Net Income$576,974
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 22, 2024
Return Version
2023v5.0
Gross Receipts
$1,136,621
Mission and Program Overview

Mission

Health and Science Innovations seeks to promote research and development of new technologies among health, science and engineering students, educators, and professionals as well as facilitating networking opportunities between students and professionals. This allows us to provide the guidance and resources needed to develop successful products and services. Health and Science Innovations values the importance of technological advancement as an essential factor for the continuous development and enhancement of humankind.

To unlock innovative potential through stem education for a diverse audience in an inclusive and equitable manner

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$268,140$873,770▲ $605,630
Rtn Earn Endowment Incm Other Fnds$-206,208$370,766▲ $576,974
Land, Buildings, and Equipment, Net$35,906$12,982▼ $22,924
Total Assets$305,550$886,752▲ $581,202
Other Assets Total$1,504--
Liabilities
Unsecured Notes Loans Payable$500,000$500,000→ $0
Other Liabilities-$15,986-
Accounts Payable and Accrued Expenses$11,758--
Total Liabilities$511,758$515,986▲ $4,228
Net Assets / Fund Balance
Total Net Assets Fund Balance$-206,208$370,766▲ $576,974
Total Liabilities and Net Assets / Fund Balance$305,550$886,752▲ $581,202

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$12,982$92,217$105,199
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Luis a PalacioExecutive DiFT$141,865$141,865

Board Members and Trustees

NameTitle
Eric Van GorpPresident
Joerg SchrelberBoard Member
Rimple PatwardhanBoard Member
Dinesh CastellinoBoard Memebe
John G PerezSecretary
Paula FrancoTreasurer
Amber CandisVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,118,434
Program Service Revenue
$9,840
Investment Income
$7,759
Other Revenue
$588
All Other Contributions
$582,075
Change in Net Assets
$576,974
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$385,045
Other Expenses$174,602
Total Fundraising Expense$25,207
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$208,042$10,653$18,008$236,703
Current Officers, Directors, Trustees, and Key Employees$131,523$4,137$6,205$141,865
All Other Expenses$14,429$16,492-$30,921
Depreciation Depletion-$25,323-$25,323
Advertising$18,285$3,200$914$22,399
Interest-$13,750-$13,750
Insurance$10,183$25-$10,208
Occupancy$3,000$6,821-$9,821
Other Employee Benefits-$6,477-$6,477
Other Expenses$6,406$1,017$80$6,406
Office Expenses$2,543$3,189-$5,732
Conferences and Meetings$1,428$682-$2,110
Travel$547$583-$1,130
Total Functional Expenses$413,233$121,207$25,207$559,647
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Key Bank Credit Card Xx6897$5,913
Accrued Interest Expense$4,835
Amex Amazon$4,222
Keybank Ee Cards$1,016
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
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
No
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, Page 6, Part VI, Line 11B

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 12C

"the short answer is that this policy is reviewed at the beginning of each year during the 1st ordinary meeting of the year, and officers have to fill out a conflict of interest form. This is monitored by the board officers. If any conflict of interest arises during the remainder of the year, the director or key employee will fill out a new form and follow policy procedures

Form 990, Page 6, Part VI, Line 15A

Compensation is reviewed, deliberated, and approved by board of directors members (who are independent). Pre defined key performance indicators, and comparability data were used for the review; and contemporaneous substantiation of the deliberation and decision were recorded in the minutes of the meeting.

Form 990, Page 6, Part VI, Line 19

All of these documents are available upon request via email or contact form on website.

Filing and Contact Details

Filer

Filer Name
Diversity & Innovation
EIN
45-2836061
Phone
3177037836
Address
9100 PURDUE RD SUITE 410, INDIANAPOLIS, IN 46268

Signing Officer

Name
Luis a Palacio
Title
Executive Director
Phone
3177037836
Signed
2024-11-22

Organization Details

Principal Officer
Luis a Palacio
Formed
2011
Legal Domicile
In
Voting Board Members
8
Independent Board Members
8
Employees
18

Preparer

Firm
Fmr Cpas & Advisors
Address
13295 ILLINOIS STREET STE 320, CARMEL, IN 46032
Preparer
Steve Jones
Phone
3175804004
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4B

Two immersive stem programs were offered during the summer of 2023: the young innovators quest (yiq) program and the ideaa summer program. These programs offer a variety of stem skills and experiences to high school students with focus on innovation, research and product development. Participants of these programs attended industry visits, gained experience through project-based-learning, visited college campuses and had hands-on experience in laboratories. Stem enrichment activities include: research, 3d printing, laser engraving, computer aided design (cad), computer aided engineering (cae), technical communications, mechatronics, wet lab biological biological preparation, lab instruments overview, forensics, dna extraction, virtual and augmented reality, microscopy, and human anatomy among other. In 2023, yiq served 9 high school age students and the ideaa summer served 4 high school age students. These programs motivate and train high school students to become innovators in stem, better problem solvers, better team collaborators, better communicators; and help them with making better informed career choices.

Form 990, Page 2, Part III, Line 4D

Additional expenses allocated to stem outreach services and the overall performance of programs

Raw XML Appendix392 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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IRS990/ProgSrvcAccomActy2Grp/Desc0TWO IMMERSIVE STEM PROGRAMS WERE OFFERED DURING THE SUMMER OF 2023: THE YOUNG INNOVATORS QUEST (YIQ) PROGRAM AND THE IDEAA SUMMER PROGRAM. THESE PROGRAMS OFFER A VARIETY OF STEM SKILLS AND EXPERIENCES TO HIGH SCHOOL STUDENTS WITH FOCUS ON INNOVATION, RESEARCH AND PRODUCT DEVELOPMENT. PARTICIPANTS OF THESE PROGRAMS ATTENDED INDUSTRY VISITS, GAINED EXPERIENCE THROUGH PROJECT-BASED-LEARNING, VISITED COLLEGE CAMPUSES AND HAD HANDS-ON EXPERIENCE IN LABORATORIES. STEM ENRICHMENT ACTIVITIES INCLUDE: RESEARCH, 3D PRINTING, LASER ENGRAVING, COMPUTER AIDED DESIGN (CAD), COMPUTER AIDED ENGINEERING (CAE), TECHNICAL COMMUNICATIONS, MECHATRONICS, WET LAB BIOLOGICAL BIOLOGICAL PREPARATION, LAB INSTRUMENTS OVERVIEW, FORENSICS, DNA EXTRACTION, VIRTUAL AND AUGMENTED REALITY, MICROSCOPY, AND HUMAN ANATOMY AMONG OTHER. IN 2023, YIQ SERVED 9 HIGH SCHOOL AGE STUDENTS AND THE IDEAA SUMMER SERVED 4 HIGH SCHOOL AGE STUDENTS. THESE PROGRAMS MOTIVATE AND TRAIN HIGH SCHOOL STUDENTS TO BECOME INNOVATORS IN STEM, BETTER PROBLEM SOLVERS, BETTER TEAM COLLABORATORS, BETTER COMMUNICATORS; AND HELP THEM WITH MAKING BETTER INFORMED CAREER CHOICES.
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IRS990/ProgSrvcAccomActy3Grp/Desc0THE AWARD-WINNING TECH LITERACY PROGRAM PROVIDED AN INTRODUCTION TO COMPUTER SOFTWARE SKILLS TO 68 STUDENTS IN GRADES 5 THROUGH 8. THE SKILLS THEY LEARNED ARE COMMONLY USED IN THE WORKFORCE, HELP IMPROVE ACADEMIC ACHIEVEMENT, AND REINFORCE COMPUTER SCIENCE LEARNING. TECH LITERACY EQUIPS UNDERPRIVILEGED CHILDREN WITH SKILLS THAT WILL PREPARE THEM FOR SUMMER INTERNSHIPS OR JOBS, COLLEGE, AND THE WORKFORCE. WORKSHOPS INCLUDED AN INTRODUCTION TO WORD PROCESSORS, SPREADSHEETS, PRESENTATIONS, INTERNET SAFETY, EMAILING, AND COMPUTER HARDWARE.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt09987
IRS990/ProgSrvcAccomActyOtherGrp/Desc0ADDITIONAL EXPENSES ALLOCATED TO STEM OUTREACH SERVICES AND THE OVERALL PERFORMANCE OF PROGRAMS
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TWO IMMERSIVE STEM PROGRAMS WERE OFFERED DURING THE SUMMER OF 2023: THE YOUNG INNOVATORS QUEST (YIQ) PROGRAM AND THE IDEAA SUMMER PROGRAM. THESE PROGRAMS OFFER A VARIETY OF STEM SKILLS AND EXPERIENCES TO HIGH SCHOOL STUDENTS WITH FOCUS ON INNOVATION, RESEARCH AND PRODUCT DEVELOPMENT. PARTICIPANTS OF THESE PROGRAMS ATTENDED INDUSTRY VISITS, GAINED EXPERIENCE THROUGH PROJECT-BASED-LEARNING, VISITED COLLEGE CAMPUSES AND HAD HANDS-ON EXPERIENCE IN LABORATORIES. STEM ENRICHMENT ACTIVITIES INCLUDE: RESEARCH, 3D PRINTING, LASER ENGRAVING, COMPUTER AIDED DESIGN (CAD), COMPUTER AIDED ENGINEERING (CAE), TECHNICAL COMMUNICATIONS, MECHATRONICS, WET LAB BIOLOGICAL BIOLOGICAL PREPARATION, LAB INSTRUMENTS OVERVIEW, FORENSICS, DNA EXTRACTION, VIRTUAL AND AUGMENTED REALITY, MICROSCOPY, AND HUMAN ANATOMY AMONG OTHER. IN 2023, YIQ SERVED 9 HIGH SCHOOL AGE STUDENTS AND THE IDEAA SUMMER SERVED 4 HIGH SCHOOL AGE STUDENTS. THESE PROGRAMS MOTIVATE AND TRAIN HIGH SCHOOL STUDENTS TO BECOME INNOVATORS IN STEM, BETTER PROBLEM SOLVERS, BETTER TEAM COLLABORATORS, BETTER COMMUNICATORS; AND HELP THEM WITH MAKING BETTER INFORMED CAREER CHOICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ADDITIONAL EXPENSES ALLOCATED TO STEM OUTREACH SERVICES AND THE OVERALL PERFORMANCE OF PROGRAMS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3"THE SHORT ANSWER IS THAT THIS POLICY IS REVIEWED AT THE BEGINNING OF EACH YEAR DURING THE 1ST ORDINARY MEETING OF THE YEAR, AND OFFICERS HAVE TO FILL OUT A CONFLICT OF INTEREST FORM. THIS IS MONITORED BY THE BOARD OFFICERS. IF ANY CONFLICT OF INTEREST ARISES DURING THE REMAINDER OF THE YEAR, THE DIRECTOR OR KEY EMPLOYEE WILL FILL OUT A NEW FORM AND FOLLOW POLICY PROCEDURES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION IS REVIEWED, DELIBERATED, AND APPROVED BY BOARD OF DIRECTORS MEMBERS (WHO ARE INDEPENDENT). PRE DEFINED KEY PERFORMANCE INDICATORS, AND COMPARABILITY DATA WERE USED FOR THE REVIEW; AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION WERE RECORDED IN THE MINUTES OF THE MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL OF THESE DOCUMENTS ARE AVAILABLE UPON REQUEST VIA EMAIL OR CONTACT FORM ON WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0413233
IRS990/TotalFunctionalExpensesGrp/TotalAmt0559647
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IRS990/TotalLiabilitiesBOYAmt0511758
IRS990/TotalLiabilitiesEOYAmt0515986
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0LUIS A PALACIO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03177037836
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DIVERSITY & INNOVATION
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0INSTITUTE INC
ReturnHeader/Filer/BusinessNameControlTxt0DIVE
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FMR CPAS & ADVISORS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt013295 ILLINOIS STREET STE 320
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CARMEL
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd046032
ReturnHeader/PreparerPersonGrp/PhoneNum03175804004
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVE JONES
ReturnHeader/ReturnTs02024-11-23T14:25:43-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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