Grand Innovation Inc

Nonprofit profile at a glance

EIN
811033237
IRS 990 coverage
2017–2019
Forms available
Form 990 2019, Form 990-N 2016
Location
Detroit, MI, USA
Phone
3138870293
Rating
35
Verdict
REVIEW
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$340,517
Expenses
$307,237
Assets
$52,102
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • NICOLE FARMER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • NICOLE FARMER (EXECUTIVE DIRECTOR): $61,180 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Grand Innovations purpose is to be a full service planning and management entity serving small and midium-sized businesses, entrepreneurs and organizations with emphasis on underserved minority and women owned companies helping them to establish, develop and grow their businesses

What it reported doing in 2019

Classrooms and curriculum where up-start Entrepreneurs are trained in business, marketing and income tax planning in preparation of receiving business funding to grow their businesses.

Operating model

Revenue model
Grant-funded. 78% of the money available for current operations came from government grants.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

REVIEW - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 11
  • Transparency & Controls: 90
  • Accountability: 5
  • Sustainability: 45
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 11.5%; rating input score 12
  • Program expense ratio: 12.8%; rating input score 13
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 6th percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 9.8%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 0.17; rating input score 9; 9th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 84; 84th percentile among comparable filings
  • Officer compensation ratio: 19.9%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: -22.4% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -8% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: -2.7% per year; rating input score 0; 21st percentile among comparable filings

Details

  • Where the money goes: 11.5% of revenue deployed · 12.8% of spending went to programs
  • Governance: 0 of 5 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $307K in reported program spending
  • Leadership: top reported pay $61K · 6 people listed
  • Highest-paid contractors: 1 contractor listed · $114K reported
  • Consistency: 20 of 22 current checks pass · 2 findings to review
  • Schedules: 2 filed schedules
  • Filing history: 3 filing years from 2017 to 2019
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Mission deployment rate scored 12/100.
  • High — Financial Efficiency: Program expense ratio scored 13/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX AllOtherExpenses column sum did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 9/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.