Novation Education Opportunities

EIN: 271268650 501(c)(3) Education

Eagan, MN

Total Revenue
$577,631
Total Expenses
$621,636
Total Assets
$421,620
Net Assets
$366,195
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2009
Legal Domicile
MN
Principal Officer
Wendy J Swanson-Choi
Phone
6128892103
Tax Period
2024-07-01 to 2025-06-30

Novation Education Opportunities, founded in 2009, is a small nonprofit in the Education sector that reported $578K in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year.

Mission

NEO is a Minnesota charter school authorizer. It oversees and evaluates charter schools for the purpose of improving student learning.

Program Service Accomplishments

Program 1
Expenses: $531,850 Revenue: $576,884

NEO oversaw, monitored, and evaluated 29 charter schools to improve the learning, achievement, and success of approximately 10,000 students.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $747
Program Service Revenue $576,884
Investment Income $0
Other Revenue $0
TOTAL REVENUE $577,631

Expense Breakdown

Grants Paid $0
Salaries & Benefits $293,499
Fundraising Expenses $0
Program Expenses $531,850
Other Expenses $328,137
TOTAL EXPENSES $621,636

Year-over-Year Comparison

2024 2023 Change
Revenue $577,631 $619,722 -0.1%
Expenses $621,636 $549,597 +0.1%
Net Income $-44,005 $70,125 -1.6%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
4
Independent Members
4
Employees
3
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$116,419
Total Directors
5
$116,419
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Wafa Qureshi Treasurer 4.00
Officer Director
$0 $0 $0
Aleem Roshan Board Chair 4.00
Officer Director
$0 $0 $0
Wendy Swanson-Choi Ex Officio 50.00
Officer Director
$116,419 $0 $116,419
Nabeel Syed Board Member 2.00
Director
$0 $0 $0
Jawad Lodhi Board Member 2.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $577,631 $621,636 $421,620 $-44,005
2024 $619,722 $549,597 $415,361 $70,125
2023 $529,199 $532,038 $378,610 $-2,839
2022 $522,779 $495,090 $357,793 $27,689
2021 $540,955 $476,860 $353,215 $64,095
2020 $579,678 $562,103 $306,858 $17,575
2019 $453,199 $472,965 $294,440 $-19,766
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