Civic Intelligence

Innovation Fund Foundation Inc

990 • Fiscal year 2019 • EIN 47-1881242

Jul 01, 2018 to Jun 30, 2019 • Filed on Feb 10, 2020

Organization ProfileWWW.IFFGA.ORG
205 Jesse Hill Jr DriveAtlanta, GA 30334

(404) 463-1160

Siviq Scores

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

Liabilities / Assets

17th percentile

0.00x

Higher debt load relative to assets than 17% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

18th percentile

0.00x

Higher debt load relative to revenue than 18% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

98th percentile

87%

Higher net margin than 98% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

88th percentile

36%

Faster asset growth than 88% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

4th percentile

-57%

Faster revenue growth than 4% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets17th percentile

Assets

Up

$2,121,466

Up $566,816 (+36%) from 2018

Net Assets

Up

$2,120,075

Up $568,425 (+37%) from 2018

Liabilities

Down

$1,391

Down $1,609 (-54%) from 2018

Revenue And Expenses
Liabilities / Revenue18th percentileNet Margin98th percentile

Revenue

Down

$654,263

Down $854,545 (-57%) from 2018

Expenses

Up

$85,838

Up $82,319 (+2339%) from 2018

Net Income

Down

$568,425

Down $936,864 (-62%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth88th percentile

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

$3.0M$2.0M$1.0M$0Assets 2014: $47,236Liabilities 2014: $02014Assets 2015: $47,050Liabilities 2015: $02015Assets 2018: $1,554,650Liabilities 2018: $3,000Net Assets 2018: $1,551,6502018Assets 2019: $2,121,466Liabilities 2019: $1,391Net Assets 2019: $2,120,0752019Assets 2020: $1,286,451Liabilities 2020: $715,581Net Assets 2020: $570,8702020Assets 2021: $814,837Liabilities 2021: $493,634Net Assets 2021: $321,2032021

Highlighted filing

2019

Assets$2,121,466
Liabilities$1,391
Net Assets$2,120,075
Open 2019 Filing

Operations Trend

Revenue Growth4th percentile

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

$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2014: $49,090Expenses 2014: $1,853Net Income 2014: $47,2372014Revenue 2015: $0Expenses 2015: $187Net Income 2015: -$1872015Revenue 2018: $1,508,808Expenses 2018: $3,519Net Income 2018: $1,505,2892018Revenue 2019: $654,263Expenses 2019: $85,838Net Income 2019: $568,4252019Revenue 2020: $30,477Expenses 2020: $1,579,682Net Income 2020: -$1,549,2052020Revenue 2021: $64,902Expenses 2021: $314,569Net Income 2021: -$249,6672021

Highlighted filing

2019

Revenue$654,263
Expenses$85,838
Net Income$568,425
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Feb 10, 2020
Return Version
2018v3.1
Gross Receipts
$654,263
Mission and Program Overview

Mission

The Innovative Fund Foundation exists to improve student achievement in Georgia by funding innovative partnerships to redesign public education.

The Innovation Fund Foundation, Inc. supports the work of the Govenor's Office of Student Achievement in planning, implementing or scaling innovative education programs. The Govenor's Office of Student Achievement oversees and administers the Innovation Fund, which invests in innovative projects focused on the Govenor's educatonal priority areas. The Innovation Fund Foundation, Inc. will support the Innovation Fund's work as well as the Govenor's Honor Program (GHP), a statewide residential summer program for gifted and talented high school students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,485,557$2,050,199▲ $564,642
Cash and Non-Interest-Bearing Accounts$69,093$66,276▼ $2,817
Accounts Receivable-$4,991-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,554,650$2,121,466▲ $566,816
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$3,000$1,391▼ $1,609
Total Liabilities$3,000$1,391▼ $1,609
Net Assets / Fund Balance
Unrestricted Net Assets$1,551,650$2,120,075▲ $568,425
Total Net Assets Fund Balance$1,551,650$2,120,075▲ $568,425
Total Liabilities and Net Assets / Fund Balance$1,554,650$2,121,466▲ $566,816
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

NameTitle
Kristin BernhardChairman
Mike DudgeonVice President
Ed ChangDirector
Hannah HeckDirector
J Carl CampbellDirector
Jack ParrishDirector
Michael DavisDirector
Myrna BallardDirector
Cayanna GoodSecretary
Jodie SnowTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$652,914
Program Service Revenue
$0
Investment Income
$1,349
Other Revenue
$0
All Other Contributions
$652,914
Change in Net Assets
$568,425
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$76,441
Other Expenses$9,397
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$76,441--$76,441
Fees for Services Accounting-$8,196-$8,196
Insurance-$497-$497
Other Expenses-$301-$301
Total Functional Expenses$76,441$9,397$0$85,838
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Govs Office of Plan & BudgetAtlanta, GAState of GeorgiaInnovative Education$76,441
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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 family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
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, Part VI, Line 11B: Form 990 Review Process

“Management will review the 990, send it to the GOSA Executive Director for approval and then it will be electronically sent to the board for review.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Governing documents are available on the website. Financial statements are available upon request per statute.”

Filing and Contact Details

Filer

Filer Name
Innovation Fund Foundation Inc
EIN
47-1881242
Phone
4044631160
Address
205 Jesse Hill Jr Drive, Atlanta, GA 30334

Signing Officer

Name
Joy Hawkins
Title
Executive Director
Signed
2020-02-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joy Hawkins
Formed
2013
Legal Domicile
Ga
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
11

Preparer

Firm
Qbix Accounting Solutions LLC
Address
500A Northside Crossing, Macon, GA 31210
Preparer
Clarence L Davidson
Phone
4787870532
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01349
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01008
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt02357
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportTotal170Amt02070297
IRS990ScheduleA/SubstantialContributorsTotAmt0139507
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0652914
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01507800
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt049090
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02209804
IRS990ScheduleA/TotalSupportAmt02212161
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt076441
IRS990ScheduleI/RecipientTable/IRCSectionDesc0State of Georgia
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Innovative Education
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Govs Office of Plan & Budget
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt02 Capitol Square SW
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Atlanta
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0GA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd030334
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0The grants are all reimbursement-based, meaning the funds are not awarded upfront. The funds are reimbursed on a quarterly basis. To receive reimbursement, the grantee completes a quarterly report template indicating the total amount requested, as well as a breakdown of the total amount which includes a description of each line item for which they are requesting reimbursement. Then, each line item must have corresponding documentation that proves purchase. All requested items must align with the original budget. If there are items with missing, incorrect, or incomplete documentation, the grant manager follows-up with the grantee to provide the correct documentation. After the documentation is matched with the requested items, the reimbursement is requested through the State of Georgias Office of Planning and Budget (OPB). The OPB invoices the IFF on a quarterly basis for all items reimbursed to grantees.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Grantmaker's Description of How Grants are Used
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Management will review the 990, send it to the GOSA Executive Director for approval and then it will be electronically sent to the board for review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Governing documents are available on the website. Financial statements are available upon request per statute.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt02121466
IRS990/TotalAssetsGrp/BOYAmt01554650
IRS990/TotalAssetsGrp/EOYAmt02121466
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IRS990/TotalContributionsAmt0652914
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt09397
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt076441
IRS990/TotalFunctionalExpensesGrp/TotalAmt085838
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03000
IRS990/TotalLiabilitiesEOYAmt01391
IRS990/TotalLiabilitiesGrp/BOYAmt03000
IRS990/TotalLiabilitiesGrp/EOYAmt01391
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01551650
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02120075
IRS990/TotalProgramServiceExpensesAmt076441
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/ExclusionAmt01349
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0654263
IRS990/TotalVolunteersCnt011
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01554650
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02121466
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01551650
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02120075
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.IFFGA.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Joy Hawkins
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-02-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Innovation Fund Foundation Inc
ReturnHeader/Filer/BusinessNameControlTxt0INNO
ReturnHeader/Filer/EIN0471881242
ReturnHeader/Filer/PhoneNum04044631160
ReturnHeader/Filer/USAddress/AddressLine1Txt0205 Jesse Hill Jr Drive
ReturnHeader/Filer/USAddress/CityNm0Atlanta
ReturnHeader/Filer/USAddress/StateAbbreviationCd0GA
ReturnHeader/Filer/USAddress/ZIPCd030334
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0262377787
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Qbix Accounting Solutions LLC

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,121,466
Liabilities
$1,391
Net assets
$2,120,075
Revenue
$654,263
Expenses
$85,838
Net income
$568,425
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$0.81$0.49$0.32$0.06$0.31$0.25
2020Detailed filing. Detailed filing data is available for this year.$1.29$0.72$0.57$0.03$1.58$1.55
2019Detailed filing. Detailed filing data is available for this year.$2.12$0.00$2.12$0.65$0.09$0.57
2018Detailed filing. Detailed filing data is available for this year.$1.55$0.00$1.55$1.51$0.00$1.51
2015Summary only. Only limited summary data is available for this year.$0.05$0.00$0.00$0.00$0.00
2014Summary only. Only limited summary data is available for this year.$0.05$0.00$0.05$0.00$0.05