Inbloom Inc

Nonprofit profile at a glance

EIN
460586726
IRS 990 coverage
2012–2014
Forms available
Form 990 2014
Location
Bellevue, WA, USA
Phone
4254544919
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Reported finances

Revenue
$-327,244
Expenses
$11,698,698
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • IWAN STREICHENBERGER (CEO)

Highest reported compensation

  • IWAN STREICHENBERGER (CEO): $813,685 total reported compensation
  • AMELIA FOX (COO): $490,778 total reported compensation
  • JATINDER PANNU (SVP PROFESSIONAL SERVICES): $403,503 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization seeks to accelerate student achievement by using technology to enable personalized learning for every k-12 student in the u.s. The organization will pursue this objective by, among other things, working with education agencies to advance learning and address disparities in student achievement. The organization works to adapt, implement, and continually improve new and existing education technologies and applications for the benefit of schools and students.

What it reported doing in 2014

Inbloom ceased operations in 2014 and the activities undertook during the year were for the orderly wind down of the organization. Previously, inbloom developed and launched a technical solution that addresses the complex challenges that teachers, educators and parents face when trying to best utilize the student data available to them. That solution can provide a high impact and cost-effective service to every school district across the country, enabling teachers to more easily tailor education to students' individual learning needs.the wind down was extensive and included packaging the intellectual property, creating user content, educational materials and other technical documentation. The intellectual property is open sourced. By doing these activities inbloom will allow future users be able to access this solution.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 88
  • Accountability: 32
  • Sustainability: 3
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 89.3%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3,674.9%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 26.5%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: -75.4% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: -143.9% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -92.1% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 89.3% of spending went to programs
  • Governance: 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $10.4M in reported program spending
  • Leadership: top reported pay $814K · 14 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $980K reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 3 filing years from 2012 to 2014
  • Contacts: How to reach this organization
  • Money network: 9 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.

  • High — Sustainability: Operating margin scored 2/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.