Ark Education Initiative Inc Fka Innovation Foundation Inc

Nonprofit profile at a glance

EIN
854306455
IRS 990-PF coverage
2022–2024
Forms available
Form 990-PF 2024
Location
Wilton, CT, USA
Phone
2034519716
Rating
73
Verdict
SUPPORTED
Rating confidence
Standard

Reported finances

Revenue
$2,060,859
Expenses
$2,054,791

Source: IRS Form 990-PF. Selected filing: tax year 2024. Amounts in USD.

Overview

Mission

Ark Education Initiative Inc Fka Innovation Foundation Inc is a nonprofit. Location: Wilton, CT. EIN 854306455.

What it reported funding in 2024

The foundation reported 2 filed grant rows totaling $200,000. The stated grant purposes included to support the plans for growth and expansion of the duddy innovation center for excellence (dice) course offering. it offers a challenging education for young women eager to stretch their learning beyond the traditional acquisition of knowledge while influencing a new way of thinking and learning throughout the campus. and to provide support of jericho's academic programs as students discover their potential and grow in faith. it will allow them to access if's cutting-edge curriculum and guidance..

Operating model

Revenue model
Donor-supported. 100% of the foundation's positive operating resources came from contributions.
Distribution model
Direct operator. The foundation carried out 89% of its reported charitable disbursements directly.

The verdict

SUPPORTED - A large share of available resources goes to charitable grants and the filed numbers largely add up. A relatively small share of spending goes to grants and assets provide a limited cushion relative to annual grants.

Rating breakdown

  • Grant Deployment: 100
  • Cost Efficiency: 10
  • Transparency: 100
  • Compliance: 100
  • Endowment Health: 10

Detailed rating inputs

Grant Deployment

  • Grant deployment ratio: 100%; rating input score 100; 98th percentile among comparable filings

Cost Efficiency

  • Grant expense ratio: 9.7%; rating input score 10; 15th percentile among comparable filings

Transparency

  • Grant recipient disclosure: Yes; rating input score 100

Compliance

  • Foundation activity disclosures: 19 of 19 controls in place; rating input score 100
    • Property sale or exchange with a disqualified person: Pass
    • Borrowing from or lending to a disqualified person: Pass
    • Goods, services, or facilities involving a disqualified person: Pass
    • Compensation paid to a disqualified person: Pass
    • Assets transferred to a disqualified person: Pass
    • Payment to a government official: Pass
    • Uncorrected prior self-dealing: Pass
    • Prior-year undistributed income: Pass
    • Excess business holdings: Pass
    • Investments that may jeopardize charitable purposes: Pass
    • Uncorrected prior-year jeopardizing investments: Pass
    • Attempt to influence legislation: Pass
    • Attempt to influence an election: Pass
    • Individual grants for travel, study or similar purposes: Pass
    • Grants outside qualifying charitable organization categories: Pass
    • Spending for a noncharitable purpose: Pass
    • Funds received for a personal-benefit contract: Pass
    • Premiums paid on a personal-benefit contract: Pass
    • Prohibited tax-shelter transaction: Pass
  • Filing consistency checks: 10; rating input score 100

Endowment Health

  • Endowment-health comparison: 1.86; rating input score 10; 10th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Grants: 100% of grant recipient detail disclosed
  • Payout: At least 100% grant deployment rate
  • Trustees: Filed trustees detail
  • Self-dealing: 100% of reviewed questions answered “No”
  • Investments: 10th percentile for endowment coverage
  • Consistency: 10 of 10 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Cost Efficiency: Grant expense ratio scored 10/100.
  • High — Endowment Health: Endowment-health comparison scored 10/100.