Innovators for Purpose Inc

Nonprofit profile at a glance

EIN
300841640
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2019, Form 990-N 2016
Location
Acton, MA, USA
Phone
8572853842
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Support N.E.C.

Official website

Reported finances

Revenue
$891,953
Expenses
$538,915
Assets
$472,864
Liabilities
$16,652

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

Leadership & pay

8 people listed

Executive titles in this filing

  • Michael K Dawson (Director Co-Founder CEO)

Highest reported compensation

  • Michael K Dawson (Director Co-Founder CEO): $120,005 total reported compensation
  • Donna Dawson (Director Co-Founder VP): $83,557 total reported compensation

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

Overview

Mission

Youth development and STEM education organization

What it reported doing in 2024

IFp Labs - Introduces 7-8th grade students to iFps unique approach to STEM education at the intersection of design, technology and social impact. iFp Studios - Offers students aged 14 and older a paid, work-based design and innovation studio experience. Collaborating with professionals, students create products and experiences that promote social justice and generate positive social impact. iFp Next - Focuses on mentorship and the continued building of social capital to help facilitate internships and job opportunities for iFp graduates.

Operating model

Revenue model
Donor-supported. 92% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 85
  • Accountability: 62
  • Sustainability: 60
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 46.4%; rating input score 46
  • Program expense ratio: 76.7%; rating input score 77
  • Fundraising efficiency: $17.69 raised per $1 spent on fundraising; rating input score 55; 55th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 16th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 39.6%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 0.88; rating input score 39; 39th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 37.8%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 19.8% per year; rating input score 100; 82nd percentile among comparable filings
  • Revenue growth: 32.1% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 36.7% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 46.4% of revenue deployed · 76.7% of spending went to programs
  • Governance: 6 of 8 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $413K in reported program spending
  • Leadership: top reported pay $120K · 8 people listed
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Financial Efficiency: Mission deployment rate scored 46/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 55/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 39/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.