Nonprofit · EIN 84-2709943
INNOVATION FOR EQUITY INC
Tax-exempt · WASHINGTON, DC 20006
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $550,412 | $842,792 | -$292,380 | $361,824 | $276,751 | $85,073 |
| December 31, 2023 | 990 | $676,544 | $970,935 | -$294,391 | $476,502 | $99,049 | $377,453 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $511,012
- Membership dues
- $130,363
- Program service revenue
- $39,400
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $216,400
- Other salaries and wages
- $101,882
- Salaries, compensation and benefits (total)
- $349,852
- Professional fundraising fees
- $0
- Accounting fees
- $62,763
- Occupancy
- $22,999
- Travel
- $154,347
- Program services (functional)
- $530,154
- Management and general (functional)
- $192,183
- Fundraising (functional)
- $120,455
Balance sheet and other
- Total assets, start of year
- $476,502
- Total assets, end of year
- $361,824
- Total liabilities, end of year
- $276,751
- Net assets, end of year
- $85,073
- Net assets without donor restrictions
- $85,073
- Gross receipts
- $550,412
- Employees
- 3
- Volunteers
- 40
- Year formed
- 2019
- State of legal domicile
- DE
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ANGELA ROMANS | EXECUTIVE DIRECTOR Officer | 40 | $200,000 | $16,400 |
| MATTHEW MUGO FIELDS | PRESIDENT Trustee or director, Officer | 2 | $0 | $0 |
| MARGARET WRIGHT | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| ANGELIA DICKENS | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| JANNAH GARFIO | DIRECTOR Trustee or director | 2 | $0 | $0 |
| LISA HERRING | DIRECTOR Trustee or director | 2 | $0 | $0 |
| CRYSTAL SEWELL | DIRECTOR Trustee or director | 2 | $0 | $0 |
| YSCAIRA JIMENEZ | DIRECTOR Trustee or director | 2 | $0 | $0 |
| WILLA PERLMAN | DIRECTOR Trustee or director | 2 | $0 | $0 |
| ANDRE BENNIN | DIRECTOR Trustee or director | 2 | $0 | $0 |
990 for the year ended December 31, 2023: 10 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ANGELA ROMANS | EXECUTIVE DIRECTOR Officer | 40 | $200,000 | $16,400 |
| MATTHEW MUGO FIELDS | PRESIDENT Trustee or director, Officer | 2 | $0 | $0 |
| MARGARET WRIGHT | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| ANGELIA DICKENS | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| PHIL ALPHONSE | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JANNAH GARFIO | DIRECTOR Trustee or director | 2 | $0 | $0 |
| LISA HERRING | DIRECTOR Trustee or director | 2 | $0 | $0 |
| NARDOS KING | DIRECTOR Trustee or director | 2 | $0 | $0 |
| DEL RUFF | DIRECTOR Trustee or director | 2 | $0 | $0 |
| CRYSTAL SEWELL | DIRECTOR Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- C/O THE GATHERING SPOT 1720 I STREE, WASHINGTON, DC 20006-0000
- In care of
- % THE GATHERING SPOT
- Principal officer (990 for 2024)
- ANGELA ROMANS, C/O GATHERING SPOT 1720 I ST NW 4, WASHINGTON, DC 20006
- Signed the 990
- ANGELA ROMANS, EXECUTIVE DIRECTOR
- Phone
- (401) 419-7215
- Return prepared by
- JOHNSON O'CONNOR FERON & CARUCCI LLP
Mission
INNOVATION FOR EQUITY CONNECTS AND CULTIVATES BLACK LEADERS ACROSS EDUCATION ECOSYSTEMS TO BUILD COLLECTIVE POWER AND ADVANCE INNOVATIVE SOLUTIONS, SHAPING A FUTURE WHERE BLACK LEARNERS OF ALL AGES THRIVE.
Program accomplishments
- INNOVATION FOR EQUITY (IFE) CONVENES AND SUPPORTS INSPIRING LEADERS FROM ACROSS THE EDUCATION AND WORKFORCE SECTOR WHO ARE UNITED IN THEIR COMMITMENT TO DISRUPT THE STATUS QUO AND IMPROVE OUTCOMES FOR BLACK LEARNERS OF ALL AGES. IFE'S SENIOR LEADERS FELLOWSHIP PROGRAM IS DESIGNED TO INCREASE THE PIPELINE OF PROXIMATE SENIOR LEADERS ACROSS THE EDUCATION ECOSYSTEM. SINCE 2019 IFE HAS HOSTED ANNUAL IN-PERSON AND VIRTUAL SUMMITS ALLOWING BLACK LEADERS AND ALLIES ACROSS THE EDUCATION ECOSYSTEM TO CONNECT, COLLABORATE, AND DISSEMINATE THOUGHT LEADERSHIP. IFE ALSO LEVERAGES RESEARCH TO IDENTIFY, CODIFY, AND SHARE WHAT IS DRIVING OUTCOMES FOR BLACK LEADERS. FINALLY, IFE HAS CREATED ANNUAL AWARDS FOR LEADERS THAT HAVE LEVERAGED INNOVATION TO IMPROVE OUTCOMES FOR BLACK LEARNERS.Expenses $530,154 · revenue $39,400
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 84-2709943
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2020
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B90)
- Assets (IRS master file)
- $361,824
- Income (IRS master file)
- $550,412
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $550,412 | $842,792 | $361,824 | XML |
| 990 | December 2023 | $676,544 | $970,935 | $476,502 | XML |
| 990 | December 2022 | $366,159 | $744,722 | $723,800 | IRS |
| 990 | December 2021 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 84-2709943).
Questions about INNOVATION FOR EQUITY INC
- What is the EIN of INNOVATION FOR EQUITY INC?
- The employer identification number (EIN) of INNOVATION FOR EQUITY INC is 84-2709943.
- Is INNOVATION FOR EQUITY INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2020.
- Are donations to INNOVATION FOR EQUITY INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does INNOVATION FOR EQUITY INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of INNOVATION FOR EQUITY INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INNOVATION FOR EQUITY INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of INNOVATION FOR EQUITY INC?
- The 990 for the year ended December 31, 2024 names ANGELA ROMANS.
- Who are the officers and directors of INNOVATION FOR EQUITY INC?
- The 990 for the year ended December 31, 2024 lists 10 people; 1 received compensation from the organization, the highest $200,000 (ANGELA ROMANS, EXECUTIVE DIRECTOR).
- How much revenue does INNOVATION FOR EQUITY INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $550,412, expenses of $842,792 and total assets of $361,824 at year end.
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