Ednovate

Legal name: Ednovate Inc

Nonprofit profile at a glance

EIN
454005918
IRS 990 coverage
2012–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-N 2011
Location
Los Angeles, CA, USA
Phone
(213) 454-0599
Rating
88
Verdict
STRONG
Rating confidence
Standard
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$66,087,217
Expenses
$64,950,775
Assets
$112,257,636
Liabilities
$77,332,069

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

Leadership & pay

20 people listed

Executive titles in this filing

  • OLIVER SICAT (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • OLIVER SICAT (CHIEF EXECUTIVE OFFICER): $321,543 total reported compensation
  • OLUMIDE MACAULAY (CHIEF OF SCHOOLS): $277,004 total reported compensation
  • KATHERINE HART (CHIEF OPERATING OFFICER): $252,736 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Positive Multigenerational Change

What it reported doing in 2024

Ednovate, inc. Served approximately 2,721 students & offered 180 instructional days in the 2024-2025 fiscal year.

Operating model

Revenue model
Grant-funded. 88% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 85
  • Accountability: 100
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.7%; rating input score 88
  • Program expense ratio: 88%; rating input score 88
  • Fundraising efficiency: $172.49 raised per $1 spent on fundraising; rating input score 89; 89th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.7%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 1.73; rating input score 58; 58th percentile among comparable filings
  • Liabilities to assets ratio: 0.69; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 3.5%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 22.1% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 19.6% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 26.7% per year; rating input score 100; 97th percentile among comparable filings

Details

  • What they do: 3 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 87.7% of revenue deployed · 88% of spending went to programs
  • Governance: 10 of 10 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $57.1M in reported program spending
  • Leadership: top reported pay $322K · 20 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.8M reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 7 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

  • Moderate — Sustainability: Operating margin scored 41/100.
  • Review — Sustainability: Total-asset coverage ratio scored 58/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.