Inventions for Good Inc

Nonprofit profile at a glance

EIN
470983278
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2021, Form 990-N 2020
Location
Greensboro, NC, USA
Phone
3363395665
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
International Relief

Official website

Reported finances

Revenue
$214,826
Expenses
$126,199
Assets
$1,105,640
Liabilities
$0

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

Leadership & pay

4 people listed

Executive titles in this filing

  • STEPHANIE SEDBERRY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • STEPHANIE SEDBERRY (EXECUTIVE DIRECTOR): $18,000 total reported compensation

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

Overview

Mission

To invent and support technologies that solve humanitarian problems - any problem, anywhere in the world.

What it reported doing in 2024

Terusa and aesa are collaborative efforts between ifgi and a nonprofit in johannesburg, south africa, investing for innovation (ifi). We provide children in rural townships near johannesburg with a quality education by funding tuition at a private school, transportation, boarding, and other education-related supplies including a laptop when they start middle school. We also research and document the best strategies for providing cost-effective access to quality education in rural south africa.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 86% of its reported program spending out as grants.

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 the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 53
  • Transparency & Controls: 73
  • Accountability: 70
  • Sustainability: 80
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 38.9%; rating input score 39
  • Program expense ratio: 66.1%; rating input score 66
  • Fundraising efficiency: $65.67 raised per $1 spent on fundraising; rating input score 80; 80th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 18th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 41.3%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 8.76; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 14.3%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: 36.4% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 18.8% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 50.8% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 38.9% of revenue deployed · 66.1% of spending went to programs
  • Governance: 2 of 3 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $83K in reported program spending
  • Leadership: top reported pay $18K · 4 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and foreign activity
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 39/100.
  • High — Transparency & Controls: Foreign activity oversight: 7 of 8 not reported.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 25/100.