Civic Intelligence

Foundation for Innovation in Education

990EZ • Fiscal year 2021 • EIN 82-4640555

Jul 01, 2020 to Jun 30, 2021 • Filed on Dec 09, 2021

1420 E College DrMarshall, MN 56258

(507) 537-2244

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2021

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2021

Net Margin

73rd percentile

29%

Higher net margin than 73% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

79th percentile

46%

Faster asset growth than 79% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

79th percentile

65%

Faster revenue growth than 79% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Assets

Up

$42,050

Up $13,247 (+46%) from 2020

Net Assets

Up

$42,050

Up $13,247 (+46%) from 2020

Liabilities

-

No earlier filing loaded for comparison.

Revenue

Up

$45,791

Up $18,057 (+65%) from 2020

Expenses

Up

$32,545

Up $27,738 (+577%) from 2020

Net Income

Down

$13,246

Down $9,681 (-42%) from 2020

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2018: $0Net Assets 2018: $02018Assets 2019: $5,876Net Assets 2019: $5,8762019Assets 2020: $28,803Net Assets 2020: $28,8032020Assets 2021: $42,050Net Assets 2021: $42,0502021Assets 2022: $150,942Net Assets 2022: $150,9422022Assets 2023: $277,089Liabilities 2023: $0Net Assets 2023: $277,0892023Assets 2024: $367,495Liabilities 2024: $0Net Assets 2024: $367,4952024Assets 2025: $11,923,455Liabilities 2025: $11,354,342Net Assets 2025: $569,1132025

Highlighted filing

2021

Assets$42,050
Liabilities-
Net Assets$42,050

Operations Trend

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

$800K$600K$400K$200K$0Revenue 2019: $6,366Expenses 2019: $490Net Income 2019: $5,8762019Revenue 2020: $27,734Expenses 2020: $4,807Net Income 2020: $22,9272020Revenue 2021: $45,791Expenses 2021: $32,545Net Income 2021: $13,2462021Revenue 2022: $188,482Expenses 2022: $79,590Net Income 2022: $108,8922022Revenue 2023: $275,696Expenses 2023: $149,549Net Income 2023: $126,1472023Revenue 2024: $278,530Expenses 2024: $188,124Net Income 2024: $90,4062024Revenue 2025: $615,430Expenses 2025: $573,076Net Income 2025: $42,3542025

Highlighted filing

2021

Revenue$45,791
Expenses$32,545
Net Income$13,246
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Dec 9, 2021
Return Version
2020v4.0
Gross Receipts
$45,791
Mission and Program Overview

Mission

The foundation for innovation in education will provide on-going support for developing, implementing, and sustaining of regional student enrichment programs and activities. In addition, the foundation for innovation in education will provide on-going support for designing and implementing innovative teaching practices in the region.

Program Services

DescriptionGrantsExpenses
FOSTER COLLABORATION BETWEEN SCHOOL DISTRICTS, BUSINESS AND INDUSTRY, AND SWWC SERVICE COOPERATIVE IN THE ESTABLISHMENT OF PUBLIC/PRIVATE PARTNERSHIPS TO ENHANCE THE MISSION AND PURPOSE OF THE FOUNDATION.-$32,545
PROMOTE FURTHER DEVELOPMENT AND IMPLEMENTATION OF INNOVATIVE TEACHING PRACTICES THROUGH REGIONAL COLLABORATION.--
AID, SUPPORT, AND ASSIST SWWC SERVICE COOPERATIVE AND OTHER ORGANIZATIONS BY GIFTS, CONTRIBUTIONS, OR OTHERWISE FOR CHARITABLE AND EDUCATIONAL PURPOSES TO PROVIDE GREATER ACCESS TO STUDENT ACADEMIC ENRICHMENT ACTIVITIES.--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
SHELBY MEDINAChair-$0--
TOM WALSHVice Chair-$0--
JAN FRANSENBoard Member-$0--
STEVE SCHNIEDERBoard Member-$0--
MATT COLEMANSecretary-$0--
MICHAEL ZINSTreasurer-$0--
ANN WENDORFFBoard Member-$0--
RANDY ERDMANDirector Of-$0--
Filing and Contact Details

Filer

Filer Name
Foundation for Innovation in
EIN
82-4640555
Address
1420 E COLLEGE DR, MARSHALL, MN 56258

Signing Officer

Name
Randy Erdman
Title
Director of Finance
Phone
5075372244
Signed
2021-12-09
Discuss with paid preparer
Yes

Preparer

Firm
Westberg-eischens Pllp
Address
PO BOX 362, WILLMAR, MN 56201-0362
Preparer
Scott Van Buren CPA
Phone
3202353727
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 16

Expenses travel and meetings 1,875 awards and grants 3,000 miscellaneous 175 operations 7,145 memberships and dues 20,000 total 32,195

Form 990-ez, Part III

The foundation for innovation in education will provide on-going support for developing, implementing, and sustaining of regional student enrichment programs and activities. In addition, the foundation for innovation in education will provide on-going support for designing and implementing innovative teaching practices in the region.

Form 990-ez, Part III, Line 30

Aid, support, and assist swwc service cooperative and other organizations by gifts, contributions, or otherwise for charitable and educational purposes to provide greater access to student academic enrichment activities.

Raw XML Appendix162 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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CompensationExplanation/CompensationExplanationGrp/PersonNm3STEVE SCHNIEDER
CompensationExplanation/CompensationExplanationGrp/PersonNm4MATT COLEMAN
CompensationExplanation/CompensationExplanationGrp/PersonNm5MICHAEL ZINS
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CompensationExplanation/CompensationExplanationGrp/PersonNm7RANDY ERDMAN
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt7DIRECTOR OF
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IRS990EZ/PrimaryExemptPurposeTxt0THE FOUNDATION FOR INNOVATION IN EDUCATION WILL PROVIDE ON-GOING SUPPORT FOR DEVELOPING, IMPLEMENTING, AND SUSTAINING OF REGIONAL STUDENT ENRICHMENT PROGRAMS AND ACTIVITIES. IN ADDITION, THE FOUNDATION FOR INNOVATION IN EDUCATION WILL PROVIDE ON-GOING SUPPORT FOR DESIGNING AND IMPLEMENTING INNOVATIVE TEACHING PRACTICES IN THE REGION.
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IRS990ScheduleA/IRSWrittenDeterminationInd0X
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IRS990ScheduleA/OtherSupportSumAmt00
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EXPENSES TRAVEL AND MEETINGS 1,875 AWARDS AND GRANTS 3,000 MISCELLANEOUS 175 OPERATIONS 7,145 MEMBERSHIPS AND DUES 20,000 TOTAL 32,195
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION FOR INNOVATION IN EDUCATION WILL PROVIDE ON-GOING SUPPORT FOR DEVELOPING, IMPLEMENTING, AND SUSTAINING OF REGIONAL STUDENT ENRICHMENT PROGRAMS AND ACTIVITIES. IN ADDITION, THE FOUNDATION FOR INNOVATION IN EDUCATION WILL PROVIDE ON-GOING SUPPORT FOR DESIGNING AND IMPLEMENTING INNOVATIVE TEACHING PRACTICES IN THE REGION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AID, SUPPORT, AND ASSIST SWWC SERVICE COOPERATIVE AND OTHER ORGANIZATIONS BY GIFTS, CONTRIBUTIONS, OR OTHERWISE FOR CHARITABLE AND EDUCATIONAL PURPOSES TO PROVIDE GREATER ACCESS TO STUDENT ACADEMIC ENRICHMENT ACTIVITIES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990-EZ, PART I, LINE 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990-EZ, PART III
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990-EZ, PART III, LINE 30
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RANDY ERDMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR OF FINANCE
ReturnHeader/BusinessOfficerGrp/PhoneNum05075372244
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-12-09
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ReturnHeader/Filer/EIN0824640555
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ReturnHeader/PreparerPersonGrp/PhoneNum03202353727
ReturnHeader/PreparerPersonGrp/PreparationDt02021-12-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SCOTT VAN BUREN CPA
ReturnHeader/ReturnTs02022-02-07T07:22:46-06:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0RANDY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0ERDMAN
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

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