Foundation For Innovation And Life Inc
Foundation For Innovation And Life Inc consistently dedicates nearly 100% of its expenses to program services with no reported officer compensation.
EIN: 204325286 · Brookline, MA · NTEE: E05 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $524K |
| Total Expenses | $22.6M |
| Program Spending | 99% |
| Net Assets | $11.6M |
| Transparency Score | 98/100 |
Is Foundation For Innovation And Life Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Foundation For Innovation And Life Inc directs 99% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Foundation For Innovation And Life Inc
Foundation For Innovation And Life Inc (EIN: 204325286) is a nonprofit organization based in Brookline, MA, classified under NTEE code E05. The organization reported total revenue of $524K and total assets of $11.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Foundation For Innovation And Life Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Foundation For Innovation And Life Inc is a small nonprofit that has been operating for 19 years, with 12 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of 5.9%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $25.2M |
| Total Expenses | $22.6M |
| Surplus / Deficit | +$2.5M |
| Total Assets | $23.8M |
| Total Liabilities | $12.1M |
| Net Assets | $11.6M |
| Operating Margin | 10.1% |
| Debt-to-Asset Ratio | 51.0% |
| Months of Reserves | 12.6 months |
Financial Health Grade: A
In 2022, Foundation For Innovation And Life Inc reported a surplus of $2.5M with revenue exceeding expenses, holds 12.6 months of operating reserves (strong position), has a debt-to-asset ratio of 51.0% (high leverage).
Financial Trends
Over 12 years of filings (2011–2022), Foundation For Innovation And Life Inc's revenue has grown at a compound annual growth rate (CAGR) of 5.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | +3.8% | +25.4% | +58.5% |
| 2021 | +78.8% | +33.9% | +87.5% |
| 2020 | -11.9% | -11.0% | +63.3% |
| 2019 | +10.4% | +11.1% | -13.8% |
| 2018 | +17.4% | +9.2% | +31.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Foundation For Innovation And Life Inc with a Mission Score of 98 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 1%
- programs: 99%
- fundraising: 0%
According to IRS 990 filings, Foundation For Innovation And Life Inc allocates its expenses as follows: admin: 1%, programs: 99%, fundraising: 0%. With 99% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $2.5M, with revenue exceeding expenses.
- Debt-to-asset ratio: 51.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is highly unusual for an organization with tens of millions in revenue and suggests a strong commitment to directing funds towards its mission.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Foundation For Innovation And Life Inc:
- Exceptional program spending ratio (nearly 100% of expenses on programs)
- Consistent revenue growth over the past decade, peaking at $25M+ in 2022
- Significant asset growth, indicating strong financial management
- No reported officer compensation, suggesting high dedication to mission and transparency
- Consistent positive net income (revenue exceeding expenses) in most recent years
Frequently Asked Questions about Foundation For Innovation And Life Inc
Is Foundation For Innovation And Life Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Foundation For Innovation And Life Inc (EIN: 204325286) appears legitimate. Mission Score: 98/100. 0 red flags identified, 5 strengths noted.
How does Foundation For Innovation And Life Inc spend its money?
Foundation For Innovation And Life Inc directs 99% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Foundation For Innovation And Life Inc tax-deductible?
Foundation For Innovation And Life Inc is registered as a tax-exempt nonprofit (EIN: 204325286). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Foundation For Innovation And Life Inc compare to similar nonprofits?
With a transparency score of 98/100 (Excellent), Foundation For Innovation And Life Inc is above average for NTEE category E05 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Foundation For Innovation And Life Inc located?
Foundation For Innovation And Life Inc is headquartered in Brookline, Massachusetts and files with the IRS under EIN 204325286. It is classified under NTEE code E05.
How many years of IRS 990 filings does Foundation For Innovation And Life Inc have?
Foundation For Innovation And Life Inc has 12 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $524K in total revenue.
Is Foundation For Innovation And Life Inc a good charity?
Based on the IRS 990 data, Foundation For Innovation And Life Inc appears to be an excellent charity, consistently dedicating nearly 100% of its expenses to program services and reporting no officer compensation.
How has the organization's financial health changed over time?
The organization has shown significant financial growth, with revenue increasing from around $12 million in 2013 to over $25 million in 2022, and assets growing from $4.5 million to $23.7 million in the same period.
What is the organization's spending efficiency?
Foundation For Innovation And Life Inc demonstrates exceptional spending efficiency, with program service expenses consistently representing nearly 100% of total expenses, such as $22,593,547 out of $22,615,547 in 2022.
Filing History
IRS 990 filing history for Foundation For Innovation And Life Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2022), Foundation For Innovation And Life Inc's revenue has grown by 87.3%, moving from $13.4M to $25.2M. Total assets increased by 276.5% over the same period, from $6.3M to $23.8M. Total functional expenses rose by 91%, from $11.8M to $22.6M. In its most recent filing year (2022), Foundation For Innovation And Life Inc reported a surplus of $2.5M, with revenue exceeding expenses. The organization holds $12.1M in liabilities against $23.8M in assets (debt-to-asset ratio: 51.0%), resulting in net assets of $11.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $25.2M | $22.6M | $23.8M | $12.1M | — | View 990 |
| 2021 | $24.2M | $18.0M | $15.0M | $5.9M | — | View 990 |
| 2020 | $13.5M | $13.5M | $8.0M | $5.1M | — | View 990 |
| 2019 | $15.4M | $15.1M | $4.9M | $2.1M | — | View 990 |
| 2018 | $13.9M | $13.6M | $5.7M | $3.1M | — | View 990 |
| 2017 | $11.9M | $12.5M | $4.3M | $2.0M | — | View 990 |
| 2016 | $12.9M | $12.8M | $4.2M | $1.3M | — | View 990 |
| 2015 | $14.0M | $13.9M | $4.9M | $2.1M | — | View 990 |
| 2014 | $11.3M | $12.0M | $4.5M | $1.9M | — | View 990 |
| 2013 | $12.9M | $12.6M | $4.6M | $1.2M | — | View 990 |
| 2012 | $12.0M | $12.0M | $4.9M | $1.9M | — | View 990 |
| 2011 | $13.4M | $11.8M | $6.3M | $3.3M | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $25.2M, expenses of $22.6M, and assets of $23.8M (revenue +3.8% year-over-year).
- 2021: Revenue of $24.2M, expenses of $18.0M, and assets of $15.0M (revenue +78.8% year-over-year).
- 2020: Revenue of $13.5M, expenses of $13.5M, and assets of $8.0M (revenue -11.9% year-over-year).
- 2019: Revenue of $15.4M, expenses of $15.1M, and assets of $4.9M (revenue +10.4% year-over-year).
- 2018: Revenue of $13.9M, expenses of $13.6M, and assets of $5.7M (revenue +17.4% year-over-year).
- 2017: Revenue of $11.9M, expenses of $12.5M, and assets of $4.3M (revenue -8.0% year-over-year).
- 2016: Revenue of $12.9M, expenses of $12.8M, and assets of $4.2M (revenue -8.2% year-over-year).
- 2015: Revenue of $14.0M, expenses of $13.9M, and assets of $4.9M (revenue +24.4% year-over-year).
- 2014: Revenue of $11.3M, expenses of $12.0M, and assets of $4.5M (revenue -12.8% year-over-year).
- 2013: Revenue of $12.9M, expenses of $12.6M, and assets of $4.6M (revenue +7.8% year-over-year).
- 2012: Revenue of $12.0M, expenses of $12.0M, and assets of $4.9M (revenue -10.6% year-over-year).
- 2011: Revenue of $13.4M, expenses of $11.8M, and assets of $6.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Foundation For Innovation And Life Inc:
Data Sources and Methodology
This transparency report for Foundation For Innovation And Life Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.