Novi Educational Foundation FY2023 filing

Tax-deductible

Novi, MI501(c)(3)Since 1986EIN 38-2665305Revenue $102K in FY2023

On file with the IRSnovieducationalfoundation.org25345 Taft Rd, 48374-2423 · Novi, MITax-exempt since Jun 1986Publicly supported charity — 170(b)(1)(A)(vi)

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Enrich the Educational experience of each student and our community by supporting learning opportunities that require financial resources beyond the district

501(c)(3) charity; gifts are tax-deductible.
77¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $53K a year · 20% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
77%
of spending
Looks good: 77% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
28 mo
of spending, in cash
Looks good: 28.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$187K
16% of total assets
Looks good: liabilities are 16% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$102K
-75% vs prior year
Spent
$148K
To programs
77%
Net assets
$961K
By yearFY2020–FY2025
Revenue
$102K
FY2023▼ -75%
Tap a bar for its year
Revenue by fiscal year
FY2020$344K
FY2021$189K
FY2022$413K
FY2023$102K
FY2024$348K
FY2025$240K
Expenses
$148K
FY2023▼ -60%
Tap a bar for its year
Expenses by fiscal year
FY2020$190K
FY2021$114K
FY2022$367K
FY2023$148K
FY2024$326K
FY2025$172K
Net assets
$961K
FY2023▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2020$904K
FY2021$921K
FY2022$946K
FY2023$961K
FY2024$1.1M
FY2025$1.2M

From the FY2023 Form 990 (year ending June 2023) · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1986.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

77 cents of each dollar spent went to programs.

Program services 77% · $114K Management & general 17% · $25K Fundraising 6% · $9K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
President
$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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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Supports students by providing educational opportunities and program enhancements.

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Provided by the organization

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1 program · $114K · in their own filed words · FY2022
01

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

$114Kprogram expense

Funders

Who pays for it.

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 →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$102K
Ln 12
Other incomeLn 4–11$55K
Gifts and grantsLn 1h$47K
Investment incomeLn 3$22K
Money outPt IX
$148K
Ln 25
Programscol B$114K
Managementcol C$25K
Fundraisingcol D$9K
Owns and owesPt X
$961K
net assets · Ln 32
Cash and savingsLn 1–2$350K
Total assetsLn 16$1.1M
LiabilitiesLn 26$187K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$47K
Investment incomeLn 3$22K
Other incomeLn 4–11$55K
Gains on assetsLn 7−$32K
Total revenueLn 12$102K
Assets in detailPt X, end of year
CashLn 1$350K
Cash and savings togetherLn 1–2$350K
InvestmentsLn 11–13$798K
Total assetsLn 16$1.1M
LiabilitiesLn 26$187K
Net assetsLn 32$961K
OperationsPt I, VI
EmployeesI 50
VolunteersI 625
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$408K$350K
InvestmentsLn 11–13$800K$798K
Total assetsLn 16$1.2M$1.1M
LiabilitiesLn 26$261K$187K
Net assetsLn 32$946K$961K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$71K$71K
Grants to domestic individualsLn 2$34K$34K
Pay of disqualified personsLn 6$24K$8K$8K$8K
Accounting feesLn 11c$3K$3K
Investment management feesLn 11f$8K$8K
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$2K$1K$369$1K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$3K$306$3K$281
All other expensesLn 24e$20$20
Total functional expensesLn 25$148K$114K$25K$9K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $240K$172K$67K$1.2M 990 PDF
FY2024 $348K$326K$22K$1.1M 990 PDF
FY2023 Viewing $102K$148K−$46K$961K 990 PDF
FY2022 $413K$367K$46K$946K 990 PDF
FY2021 $189K$114K$75K$921K 990 PDF
FY2020 $344K$190K$155K$904K 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
See the full FY2023 990 (6 parts)
Part I · Summary $102,153 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $296,868$46,872
I-9 Program service revenue$0
I-10 Investment incomePrior year $58,258−$9,445
I-11 Other revenuePrior year $58,189$64,726
I-12 Total revenuePrior year $413,315$102,153
I-13 Grants and similar amounts paidPrior year $288,723$104,590
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $59,266$24,425
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $18,992$19,437
I-18 Total expensesPrior year $366,981$148,452
I-19 Revenue less expensesPrior year $46,334−$46,299
Part VI · Governance 9 of 9 board members independent, 2 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $102,153 across 6 lines filed
VIII-1f All other contributions, gifts and grants$46,872
VIII-1h Total contributions, gifts and grants$46,872
VIII-3 Investment incomeRelated to mission $22,295$22,295
VIII-7 Net gain or loss on sales of assetsRelated to mission −$31,740−$31,740
VIII-8 Net income from fundraising eventsExcluded from tax $64,726$64,726
VIII-12 Total revenueRelated to mission −$9,445 · Excluded from tax $64,726$102,153
Part IX · Statement of functional expenses $148,452 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $71,090$71,090
IX-2 Grants to domestic individualsPrograms $33,500$33,500
IX-6 Pay of disqualified personsPrograms $8,143 · Management $8,141 · Fundraising $8,141$24,425
IX-11c Accounting feesManagement $3,353$3,353
IX-11f Investment management feesManagement $7,721$7,721
IX-12 Advertising and promotionManagement $1,479$1,479
IX-13 Office expensesPrograms $1,007 · Management $369 · Fundraising $1,030$2,406
IX-23 InsuranceManagement $1,049$1,049
IX-24 Other expenses (24a–d)Programs $306 · Management $2,822 · Fundraising $281$3,409
IX-24e All other expensesPrograms $20$20
IX-25 Total functional expensesPrograms $114,066 · Management $24,934 · Fundraising $9,452$148,452
Part X · Balance sheet $1,147,952 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $408,286$349,836
X-11 Publicly traded securitiesStart of year $799,587$798,116
X-16 Total assetsStart of year $1,207,873$1,147,952
X-17 Accounts payable and accrued expensesStart of year $25,008$775
X-18 Grants payableStart of year $236,402$186,218
X-26 Total liabilitiesStart of year $261,410$186,993
X-32 Total net assets or fund balancesStart of year $946,463$960,959
X-33 Total liabilities and net assetsStart of year $1,207,873$1,147,952
Part XI · Reconciliation of net assets $960,959 net assets at year end
XI-1 Total revenue$102,153
XI-2 Total expenses$148,452
XI-3 Revenue less expenses−$46,299
XI-4 Net assets at start of year$946,463
XI-5 Net unrealized gains (losses) on investments$60,795
XI-10 Net assets at end of year$960,959

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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