Edison Universe INC FY2020 filing

Tax-deductible

Fort Myers, FL501(c)(3)EducationEIN 45-2703444Revenue $1.2M in FY2020

On file with the IRSedisonawards.com3671 Edgewood Ave, 33916-1107 · Fort Myers, FLTax-exempt since Aug 2012Publicly supported charity — 170(b)(1)(A)(vi)

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Edison Universe is dedicated to fostering, nurturing, developing and sponsoring curriculum, educational programs, events, media assets, etc. in support of innovation and innovators.

501(c)(3) charity; gifts are tax-deductible.
1¢ of each $1 spent went to programs.
$178K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2020 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $172K a year · 29% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0.7%
of spending
Concern: 1% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$178K
to officers and key staff · 52% of spending
Concern: pay to officers and key staff is 52% of spending; over 30%.
Pt VII · Sec A
Cash reserves
35 mo
of spending, in cash
Looks good: 35.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
Spent
$343K
To programs
0.7%
Net assets
$1.1M
By yearFY2020–FY2024
Revenue
$1.2M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.2M
FY2021$644K
FY2022$370K
FY2023$277K
FY2024$390K
Expenses
$343K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$343K
FY2021$450K
FY2022$449K
FY2023$368K
FY2024$455K
Net assets
$1.1M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$1.1M
FY2021$1.3M
FY2022$1.2M
FY2023$1.1M
FY2024$1.3M

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2012.

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

Where the money goes

1 cents of each dollar spent went to programs.

Program services 1% · $2K Management & general 99% · $341K

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

3 people listed on the 990; $178K paid to officers and key staff.

Part VII, Section A · reportable compensation
$121,612Pt VII · Sec A
Vice President
$51,558Pt VII · Sec A
Secretary
$5,000Pt VII · Sec A

Frank Bonafilia’s $40K as Treasurer is at the 31st percentile of top reported officer pay among 1613 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2023FY2022FY2021FY2020
Frank Bonafilia$40,000$60,500$57,446$121,612
Robin Manes———$51,558
Anna Bonafila$1,050——$5,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports innovation and innovators through educational programs and curriculum development.

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Provided by the organization

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1 program · $2K · in their own filed words · FY2020
01

Current activities include the development of an on line portal that will promote and provide access to a vast library of learning resources made available by companies and organizations who are winners in an annual innovation awards program called Edison Awards.

$2Kprogram 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 · FY2024
Total grants receivedfrom 1 funder$25K
Grants paid · 8 grants · $349K · 2021–2024
Individual RecipientFY2024$25,000
The Lewis Latimer FellowshipFY2024$17,335
The Lewis Latimer FellowshipFY2023$43,290
BuildFY2023$14,001
Unitemized GrantFY2023$13,250
Unitemized GrantFY2023$5,410
Unitemized GrantFY2021$176,750
Unitemized GrantFY2021$54,015

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$1.2M
Ln 12
Other incomeLn 4–11$1.2M
Investment incomeLn 3$61
Money outPt IX
$343K
Ln 25
Programscol B$2K
Managementcol C$341K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$1.0M
Total assetsLn 16$1.1M
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A3
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$61
Other incomeLn 4–11$1.2M
Gains on assetsLn 7$0
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$1.0M
SavingsLn 2$0
Cash and savings togetherLn 1–2$1.0M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$1.1M
LiabilitiesLn 26$0
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$109K$1.0M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$209K$1.1M
LiabilitiesLn 26$0$0
Net assetsLn 32$209K$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2K$2K
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$300K$300K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$2K$2K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$0
Other expenses (24a–d)Ln 24$38K$38K
All other expensesLn 24e$0
Total functional expensesLn 25$343K$2K$341K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $390K$455K−$65K$1.3M 990 PDF
FY2023 $277K$368K−$91K$1.1M 990 PDF
FY2022 $370K$449K−$78K$1.2M 990 PDF
FY2021 $644K$450K$194K$1.3M 990 PDF
FY2020 Viewing $1.2M$343K$902K$1.1M 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 FY2020 990 (6 parts)
Part I · Summary $1,245,262 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment income$61
I-11 Other revenuePrior year $26,892$1,245,201
I-12 Total revenuePrior year $26,892$1,245,262
I-13 Grants and similar amounts paidPrior year $224,778$2,500
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $138,000$299,781
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $30,525$41,207
I-18 Total expensesPrior year $393,303$343,488
I-19 Revenue less expensesPrior year −$366,411$901,774
Part VI · Governance 3 of 3 board members independent, 5 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $1,245,262 across 7 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-3 Investment incomeRelated to mission $61$61
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$1,245,201
VIII-12 Total revenueRelated to mission $61$1,245,262
Part IX · Statement of functional expenses $343,488 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $2,500$2,500
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffManagement $299,781$299,781
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal feesManagement $1,700$1,700
IX-11c Accounting feesManagement $1,850$1,850
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$0
IX-24 Other expenses (24a–d)Management $37,657$37,657
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $2,500 · Management $340,988 · Fundraising $0$343,488
Part X · Balance sheet $1,110,623 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $108,849$1,010,623
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assetsStart of year $100,000$100,000
X-15 Other assets$0
X-16 Total assetsStart of year $208,849$1,110,623
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $208,849$1,110,623
X-32 Total net assets or fund balancesStart of year $208,849$1,110,623
X-33 Total liabilities and net assetsStart of year $208,849$1,110,623
Part XI · Reconciliation of net assets $1,110,623 net assets at year end
XI-1 Total revenue$1,245,262
XI-2 Total expenses$343,488
XI-3 Revenue less expenses$901,774
XI-4 Net assets at start of year$208,849
XI-10 Net assets at end of year$1,110,623

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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