Novi Educational Foundation

Novi, MI · Public charity (501(c)(3)) · Since 1986

✓ Tax-deductible Latest data FY2024
Revenue
$240K
▼ -31% vs prior year
Spent
$172K
To programs
66%
Net assets
$1.2M

Form 990 for the fiscal year ending December 2024 (IRS tax year 2024).

Status and standing

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
1 funder — Relentless Care Foundation
$6K in the latest grant year.
Spent on programs?
66% to programs
Form 990 Part IX, latest filing.
Size and trend
$100K–1M
↓ -31% vs prior year
Legal name (IRS)Hdr · item CNovi Educational Foundation
EINHdr · item D38-2665305
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJun 1986
Year of formationHdr · item L1986
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CNovi, MI
NTEE classificationIRS BMFNonprofit

Where the money goes

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.66 Management & general $0.20 Fundraising $0.14
Program services66%$114K
Management & general20%$34K
Fundraising14%$24K
Total functional expensesLn 25$172K

Financial health

Revenue & expenses by yearFY2020–FY2024
Revenue
$240K
FY2024▼ -31%
Expenses
$172K
FY2024▼ -47%
Program efficiency
66%
of spending reaches programs▼ -25% vs prior filing year
Operating runway
81.7mo
months of highly liquid reserves at operating expense rate▲ +95% vs prior filing year
Surplus margin
+28%
revenue over expenses, this year▲ +352% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$1.2M
FY2024▲ +3%
Total liabilities
$3K
FY2024▼ -96%
Revenue less expensesPt I · Ln 19$67K
Total assetsPt X · Ln 16$1.2M
Program-expense ratioPt IX · col B66%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49

Balance Sheet

Part X · end of year
CashLn 1$254K
Total assetsLn 16$1.2M
Total liabilitiesLn 26$3K
Total net assetsLn 32$1.2M
Months of cash on handcomputed17.7

Statement of Revenue

Part VIII
Contributions & grants$127K · 53%
Other revenue$66K · 27%
Investment income$47K · 20%
Contributions & grants53%$127K
Other revenue27%$66K
Investment income20%$47K
Total revenueLn 12$240K

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.2M · Operating expenses/yr $172K
81.7 months
Where the money goes
Program services
Program services $114K · Total expenses $172K
66%
Management & General
Management & general $34K · Total expenses $172K
20%
Fundraising
Fundraising $24K · Total expenses $172K
14%
Cost to raise $1
Fundraising expense (3-yr avg) $16K · Solicited contributions (3-yr avg) $93K
$0.17 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $127K · Total revenue $240K
53%
Government reliance
Government grants — · Total revenue $240K
—
Earned-income share
Program service revenue $0 · Total revenue $240K
0%
Investment reliance
Investment income $47K · Total revenue $240K
+20%
Program self-sufficiency
Program service revenue $0 · Total expenses $172K
0%
Growth & trend
Revenue growth (YoY)
This year $240K · Prior year $348K
-31%
Revenue CAGR
FY2019 $344K · FY2024 $240K
-7%
Net-asset trend (YoY)
End of year $1.2M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $240K · Expenses $172K
+28%
Liabilities-to-Assets
Total liabilities — · Total assets $1.2M
—
Net-asset ratio
Net assets $1.2M · Total assets $1.2M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $917K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.2M
78%
People & payroll
Highest Reported Total Compensation
Individual Kat Maguire · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $172K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $31K · Total expenses $172K
18%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 66%——
Overhead ratio 20%——
Fundraising cost ratio 19%——
Revenue growth -31%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Novi Educational Foundation executive salaries →

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Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Mission and programs

Supports students by providing educational opportunities and program enhancements.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

1 program service account for $114K of program spending, described in the organization's own filed words · FY2024.
01

Educational enrichment through the funding of grants, scholarships and programs of the novi community school district

$114Kprogram expense

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Funders

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$6K
Grants paid · 22 grants · $857K · 2019–2024
Unitemized GrantFY2024$62,037
Novi Community School DistrictFY2024$33,912
Unitemized GrantFY2024$4,525
Novi Community School DistrictFY2023$239,294
Unitemized GrantFY2023$24,500
Unitemized GrantFY2023$12,838
Novi Community School DistrictFY2022$43,269
Unitemized GrantFY2022$33,500
Novi Community School DistrictFY2022$10,000
Novi Community School DistrictFY2021$180,000
Unitemized GrantFY2021$44,978
Novi Community School DistrictFY2021$44,463
Novi Community School DistrictFY2021$6,951
Novi Community School DistrictFY2020$12,000
Unitemized GrantFY2020$8,650
Unitemized GrantFY2020$250
Unitemized GrantFY2020$250
Novi Community School DistrictFY2019$58,000
See all 22 grants →

Filing history

YearRevenueExpensesChangeFiling
FY2024 $348K$326K+241% 990 PDF
FY2023 $102K$148K-75% 990 PDF
FY2022 $413K$367K+119% 990 PDF
FY2021 $189K$114K-45% 990 PDF
FY2020 $344K$190K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

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