Ingenuityne INC FY2022 filing

Tax-deductible

Boston, MA501(c)(3)Since 2012Youth DevelopmentEIN 45-5482105

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ingenuityNE, Inc. WAS FORMED TO INSPIRE YOUNG PEOPLE TO BE SCIENCE AND TECHNOLOGY LEADERS, BY ENGAGING THEM IN EXCITING MENTOR-BASED PROGRAMS THAT BUILD SCIENCE, ENGINEERING AND TECHNOLOGY SKILLS, THAT INSPIRE INNOVATION, AND THAT FOSTER WELL-ROUNDED LIFE CAPABILITIES INCLUDING SELF-CONFIDENCE, COMMUNICATION AND LEADERSHIP.

501(c)(3) charity; gifts are tax-deductible.
73¢ of each $1 spent went to programs.
$100K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · 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
4 of 5
filings with a surplus
Average surplus $80K a year · 7% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$100K
to officers and key staff · 10% of spending
Looks good: pay to officers and key staff is 10% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
8
named funders · $2.1M
Looks good: 8 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$470K
96% of total assets
Concern: liabilities are 96% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 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
+82% vs prior year
Spent
$1.0M
To programs
73%
Net assets
$21K
By yearFY2020–FY2024
Revenue
$1.2M
FY2022▲ +82%
Revenue by fiscal year
FY2020$899K
FY2021$646K
FY2022$1.2M
FY2023$1.3M
FY2024$1.4M
FY2024$1.8M
Expenses
$1.0M
FY2022▲ +93%
Expenses by fiscal year
FY2020$675K
FY2021$522K
FY2022$1.0M
FY2023$1.3M
FY2024$1.6M
FY2024$1.9M
Net assets
$21K
FY2022▲ +114%
Net assets by fiscal year
FY2020−$266K
FY2021−$157K
FY2022$21K
FY2023$56K
FY2024−$101K
FY2024−$150K

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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Is it real?

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

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

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $732K Management & general 17% · $167K Fundraising 11% · $106K

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

8 people listed on the 990; $100K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Executive Director
$100,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Chair & President
$0Pt VII · Sec A
Vice Chair & Vice Pres.
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Michael Fantom’s $144K as Executive Director is at the 62nd percentile of top reported officer pay among 1552 $1–10M youth development 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

NameFY2024FY2024FY2023FY2022FY2021FY2020
Michael Fantom$144,338$138,020$116,650$100,000——
Kimberlee Sirois Pita————$99,671—
Kim Pita—————$66,000

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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Inspire young leaders through mentor-based programs building STEM skills and life capabilities.

Provided by the organization

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3 program services account for $717K of program spending, described in the organization's own filed words · FY2021.
01

First robotics competition ("FRC")- working with mentors, teams of students build robots from kits of common parts, designed to meet a challenge. The students compete for awards for game scores, safety practices, teamwork and other qualitative achievements, stressing the values of cooperation and inclusion.

$615Kprogram expense
02

First lego league ("FLL")- teams work on game challenges using lego technology, applying science and engineering to master complex missions. Teams from around the world meet every year for the FLL world festival competition and celebration.

$60Kprogram expense
03

First tech challenge ("FTC")- like the FRC program, teams in the FTC program design and build robots with smaller kits and simpler game challenges. This program is readily accessible to a broader audience of educators and students, in part because of its lower cost.

$41Kprogram expense

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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
See all 8 funders →
Grants paid · 53 grants · $611K · 2020–2024
First in Vermont INCFY2024$30,000
City of WaterburyFY2024$18,792
South Windsor Board of EducationFY2024$15,871
Team Paragon Robotics INCCT · FY2024$13,142
Regional School District 15FY2024$12,000
Regional School District No 18FY2024$9,572
Mercy High School CorpCT · FY2024$9,572
Granby Public SchoolsFY2024$9,571
Cyberknights Robotics INCCT · FY2024$9,571
Town of WeymouthFY2024$9,000
Town of Wolcott - Bd of EducFY2024$6,973
Hopkins School IncorporatedCT · FY2024$6,590
Windsor Locks Public SchoolFY2024$6,000
See all 53 grants →

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$1.2M
Ln 12
Gifts and grantsLn 1h$892K
Fees for servicesLn 2g$285K
Other incomeLn 4–11$2K
Money outPt IX
$1.0M
Ln 25
Programscol B$732K
Managementcol C$167K
Fundraisingcol D$106K
Owns and owesPt X
$21K
net assets · Ln 32
Cash and savingsLn 1–2$227K
Total assetsLn 16$492K
LiabilitiesLn 26$470K
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$892K
Government grantsLn 1e$77K
Noncash giftsLn 1g$5K
Fees for servicesLn 2g$285K
Investment incomeLn 3$19
Other incomeLn 4–11$2K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$37K
SavingsLn 2$190K
Cash and savings togetherLn 1–2$227K
Land, buildings, equipmentLn 10c$25K
Other assetsLn 15$0
Total assetsLn 16$492K
LiabilitiesLn 26$470K
Net assetsLn 32$21K
OperationsPt I, VI
EmployeesI 57
VolunteersI 64,268
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$257K$227K
Land, buildings, equipmentLn 10c$25K
Total assetsLn 16$328K$492K
LiabilitiesLn 26$480K$470K
Net assetsLn 32−$152K$21K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$74K$74K
Pay of current officers, directors and key staffLn 5$137K$55K$55K$27K
Other salaries and wagesLn 7$162K$68K$32K$62K
Pension plan contributionsLn 8$2K$886$490$769
Other employee benefitsLn 9$14K$8K$3K$3K
Payroll taxesLn 10$22K$9K$6K$7K
Accounting feesLn 11c$28K$0$28K$0
Other fees for servicesLn 11g$60K$54K$5K$2K
Office expensesLn 13$14K$6K$4K$4K
OccupancyLn 16$27K$22K$5K$0
Travel and entertainment for public officialsLn 18$23K$15K$8K$0
InterestLn 20$17K$0$17K$0
Depreciation, depletion and amortizationLn 22$4K$3K$182$182
InsuranceLn 23$10K$8K$2K$508
Other expenses (24a–d)Ln 24$350K$350K$0$0
All other expensesLn 24e$62K$60K$2K$0
Total functional expensesLn 25$1.0M$732K$167K$106K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $1.4M$1.6M−$158K−$101K 990 PDF
FY2023 $1.3M$1.3M$35K$56K 990 PDF
FY2022 Viewing $1.2M$1.0M$173K$21K 990 PDF
FY2021 $646K$522K$124K−$157K 990 PDF
FY2020 $899K$675K$224K−$266K 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 FY2022 990 (4 parts)
Part VIII · Statement of revenue $1,178,583 across 8 lines filed
VIII-1e Government grants$76,607
VIII-1f All other contributions, gifts and grants$815,242
VIII-1g Noncash contributions (included above)$5,000
VIII-1h Total contributions, gifts and grants$891,849
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$284,985
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $19$19
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,730 · Unrelated business $0 · Excluded from tax $0$1,730
VIII-12 Total revenueRelated to mission $286,715 · Unrelated business $0 · Excluded from tax $19$1,178,583
Part IX · Statement of functional expenses $1,005,435 across 16 lines filed
IX-1 Grants to domestic organizationsPrograms $73,624$73,624
IX-5 Pay of current officers, directors and key staffPrograms $54,935 · Management $54,934 · Fundraising $27,467$137,336
IX-7 Other salaries and wagesPrograms $68,000 · Management $32,389 · Fundraising $61,558$161,947
IX-8 Pension plan contributionsPrograms $886 · Management $490 · Fundraising $769$2,145
IX-9 Other employee benefitsPrograms $8,394 · Management $2,838 · Fundraising $2,956$14,188
IX-10 Payroll taxesPrograms $8,947 · Management $6,200 · Fundraising $6,599$21,746
IX-11c Accounting feesPrograms $0 · Management $27,968 · Fundraising $0$27,968
IX-11g Other fees for servicesPrograms $53,892 · Management $4,899 · Fundraising $1,633$60,424
IX-13 Office expensesPrograms $5,674 · Management $3,932 · Fundraising $4,185$13,791
IX-16 OccupancyPrograms $21,621 · Management $5,406 · Fundraising $0$27,027
IX-18 Travel and entertainment for public officialsPrograms $15,406 · Management $7,693 · Fundraising $0$23,099
IX-20 InterestPrograms $0 · Management $16,786 · Fundraising $0$16,786
IX-22 Depreciation, depletion and amortizationPrograms $3,277 · Management $182 · Fundraising $182$3,641
IX-23 InsurancePrograms $8,132 · Management $1,524 · Fundraising $508$10,164
IX-24 Other expenses (24a–d)Programs $349,848 · Management $0 · Fundraising $0$349,848
IX-24e All other expensesPrograms $59,722 · Management $1,979 · Fundraising $0$61,701
IX-25 Total functional expensesPrograms $732,358 · Management $167,220 · Fundraising $105,857$1,005,435
Part X · Balance sheet $491,767 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $66,415$36,992
X-2 Savings and temporary cash investmentsStart of year $190,298$190,317
X-3 Pledges and grants receivableStart of year $38,014$162,500
X-4 Accounts receivable$64,626
X-9 Prepaid expenses and deferred chargesStart of year $10,900$7,379
X-10c Land, buildings and equipment, net$24,953
X-14 Intangible assets$5,000
X-15 Other assetsStart of year $22,222$0
X-16 Total assetsStart of year $327,849$491,767
X-17 Accounts payable and accrued expensesStart of year $38,934$110,029
X-26 Total liabilitiesStart of year $479,597$470,367
X-27 Net assets without donor restrictionsStart of year −$174,314−$218,166
X-28 Net assets with donor restrictionsStart of year $22,566$239,566
X-32 Total net assets or fund balancesStart of year −$151,748$21,400
X-33 Total liabilities and net assetsStart of year $327,849$491,767
Part XI · Reconciliation of net assets $21,400 net assets at year end
XI-1 Total revenue$1,178,583
XI-2 Total expenses$1,005,435
XI-3 Revenue less expenses$173,148
XI-4 Net assets at start of year−$151,748
XI-10 Net assets at end of year$21,400

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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