PURSUIT OF INNOVATION

EIN: 471895137 501(c)(3) Youth Development

Des Moines, IA

Total Revenue
$343,716
Total Expenses
$562,813
Total Assets
$297,815
Net Assets
$295,108
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2014
Legal Domicile
IA
Principal Officer
NANCY MWIROTSI
Phone
5155189371
Tax Period
2024-01-01 to 2024-12-31

PURSUIT OF INNOVATION, founded in 2014, is a small nonprofit in the Youth Development sector that reported $344K in total revenue in fiscal year 2024. Revenue fell 55% from the prior year — a significant decline worth monitoring. Expenses of $563K exceeded revenue, resulting in a 64% operating deficit.

Mission

We teach technology to underserved youth

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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 $343,716
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $343,716

Expense Breakdown

Grants Paid $0
Salaries & Benefits $418,055
Fundraising Expenses $0
Program Expenses $562,813
Other Expenses $144,758
TOTAL EXPENSES $562,813

Year-over-Year Comparison

2024 2023 Change
Revenue $343,716 $771,468 -0.6%
Expenses $562,813 $659,522 -0.1%
Net Income $-219,097 $111,946 -3.0%
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
N/A
Independent Members
N/A
Employees
19
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
0
$0
Total Directors
1
$130,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
NANCY MWIROTSI EXECUTIVE DIRECTOR 60.00
Director
$130,000 $0 $130,000
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
2024 $343,716 $562,813 $297,815 $-219,097
2023 $771,468 $659,522 $467,117 $111,946
2022 $614,816 $495,874 $351,877 $118,942
2021 $194,430 $134,923 $135,712 $59,507
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