Ingenuityne INC FY2023 filing

Boston, MA · Public charity (501(c)(3)) · Since 2012 · Youth Development

✓ Tax-deductible
Revenue
$1.3M
+10% vs prior year
Spent
$1.3M
To programs
78%
Net assets
$56K
By yearFY2020–FY2024
Revenue
$1.3M
FY2023▲ +10%
Revenue by fiscal year
FY2020$899K
FY2021$646K
FY2022$1.2M
FY2023$1.3M
FY2024$1.4M
FY2024$1.8M
Expenses
$1.3M
FY2023▲ +25%
Expenses by fiscal year
FY2020$675K
FY2021$522K
FY2022$1.0M
FY2023$1.3M
FY2024$1.6M
FY2024$1.9M
Net assets
$56K
FY2023▲ +163%
Net assets by fiscal year
FY2020−$266K
FY2021−$157K
FY2022$21K
FY2023$56K
FY2024−$101K
FY2024−$150K

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Status and standing

Is it real, and can you give to it?

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)
Legal name (IRS)Hdr · item CIngenuityne INC
EINHdr · item D45-5482105
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFOct 2012
Year of formationHdr · item L2012
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CBoston, MA
NTEE classificationIRS BMFYouth Development (O50)
WebsiteHdr · item Jwww.nefirst.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.78 Management & general $0.13 Fundraising $0.08
Program services78%$987K
Management & general13%$167K
Fundraising8%$104K
Total functional expensesLn 25$1.3M

Financial health

Is it on solid ground?

Program efficiency
78%
of spending reaches programs
Operating runway
2.5mo
months of highly liquid reserves at operating expense rate
Surplus margin
+3%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Total assets
$412K
FY2023▼ -16%
Total assets by fiscal year
FY2020$235K
FY2021$328K
FY2022$492K
FY2023$412K
FY2024$221K
FY2024$430K
Total liabilities
$355K
FY2023▼ -24%
Total liabilities by fiscal year
FY2020$500K
FY2021$484K
FY2022$470K
FY2023$355K
FY2024$322K
FY2024$580K
Revenue less expensesPt I · Ln 19$35K
Total assetsPt X · Ln 16$412K
Program-expense ratioPt IX · col B78%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47

Balance Sheet

Part X · end of year
CashLn 1$265K
Total assetsLn 16$412K
Total liabilitiesLn 26$355K
Total net assetsLn 32$56K
Months of cash on handcomputed2.5

Statement of Revenue

Part VIII
Contributions & grants$790K · 61%
Program service revenue$501K · 39%
Contributions & grants61%$790K
Program service revenue39%$501K
Investment income$15
Other revenue$2K
— government grantsLn 1e$12K
Total revenueLn 12$1.3M

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $265K · Operating expenses/yr $1.3M
2.5 months
Where the money goes
Program services
Program services $987K · Total expenses $1.3M
78%
Management & General
Management & general $167K · Total expenses $1.3M
13%
Fundraising
Fundraising $104K · Total expenses $1.3M
8%
Cost to raise $1
Fundraising expense (3-yr avg) $80K · Solicited contributions (3-yr avg) $705K
$0.11 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $790K · Total revenue $1.3M
61%
Government reliance
Government grants $12K · Total revenue $1.3M
1.0%
Earned-income share
Program service revenue $501K · Total revenue $1.3M
39%
Investment reliance
Investment income $15 · Total revenue $1.3M
<0.01%
Program self-sufficiency
Program service revenue $501K · Total expenses $1.3M
40%
Growth & trend
Revenue growth (YoY)
This year $1.3M · Prior year $1.2M
+10%
Net-asset trend (YoY)
End of year $56K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.3M · Expenses $1.3M
+3%
Liabilities-to-Assets
Total liabilities — · Total assets $412K
—
Net-asset ratio
Net assets $56K · Total assets $412K
14%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $412K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Michael Fantom · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $117K · Total expenses $1.3M
9%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $460K · Total expenses $1.3M
37%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 78%——
Overhead ratio 13%——
Fundraising cost ratio 13%——
Revenue growth 10%——
Legal fee ratio 0.04%——
Accounting fee ratio 2%——

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

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Executive Director
$116,650Pt 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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Governance & Policies

Part VI
  • 7Voting board membersPt VI · Ln 1a
  • 7Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

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

Provided by the organization

This section is blank until Ingenuityne INC claims this page.

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Mission & Programs · Part III

Where the work happens

3 program services account for $770K of program spending, described in the organization's own filed words · FY2022.
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.

$662Kprogram 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.

$66Kprogram 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.

$42Kprogram 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 →

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 $1.4M$1.6M+8% 990 PDF
FY2023 Viewing $1.3M$1.3M+10% 990 PDF
FY2022 $1.2M$1.0M+82% 990 PDF
FY2021 $646K$522K-28% 990 PDF
FY2020 $899K$675K 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) · FY2023IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

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