The Innovation Foundation Inc

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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

2010

Legal Domicile

Principal Officer

Bradley A Keywell

Phone

3133802399

Tax Period

2024-01-01 to 2024-12-31

The Innovation Foundation Inc, founded in 2010, is a small nonprofit in the Education sector that reported $345K in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $423K exceeded revenue, resulting in a 22% operating deficit.

Mission

THE INNOVATION FOUNDATION IS DOING BUSINESS AS THE STREET PHILOSOPHER SOCIETY, A PROGRAM ESTABLISHED TO IDENTIFY, HONOR, AND AMPLIFY MODERN PHILOSOPHERS WHOSE WISDOM IS ROOTED IN LIVED EXPERIENCE RATHER THAN ACADEMIC TRAINING. THE SOCIETY EXISTS TO RECOGNIZE THESE INDIVIDUALS THROUGH GRANTS/AWARDS AND TO PROMOTE PUBLIC ENGAGEMENT WITH THEIR IDEAS THROUGH MEDIA, EVENTS, AND COMMUNITY-BUILDING INITIATIVES.

Program Service Accomplishments

Program 1

Expenses: $342,147 Revenue: $0

THE STREET PHILOSOPHER SOCIETY (SPS) IDENTIFIES AND REWARDS INDIVIDUALS WHO OFFER MEANINGFUL PHILOSOPHICAL INSIGHTS SHAPED BY LIFE EXPERIENCE. THROUGH THE STREET PHILOSOPHER PRIZE, SPS PROVIDES...

THE STREET PHILOSOPHER SOCIETY (SPS) IDENTIFIES AND REWARDS INDIVIDUALS WHO OFFER MEANINGFUL PHILOSOPHICAL INSIGHTS SHAPED BY LIFE EXPERIENCE. THROUGH THE STREET PHILOSOPHER PRIZE, SPS PROVIDES UNRESTRICTED GRANTS TO AWARD RECIPIENTS AND ELEVATES THEIR WORK VIA MEDIA CONTENT, EVENTS, AND COMMUNITY PROGRAMS. IN ITS INAUGURAL YEAR, PROGRAM SERVICES ARE FOCUSED ON AWARD LAUNCH, NOMINATION OUTREACH, AND CONTENT DEVELOPMENT TO INTRODUCE THE PUBLIC TO THIS NEW FORM OF PRACTICAL, NON-ACADEMIC PHILOSOPHY.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $345,070

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $345,070

Expense Breakdown

Grants Paid $0

Salaries & Benefits $217,207

Fundraising Expenses $48,654

Program Expenses $342,147

Other Expenses $205,422

TOTAL EXPENSES $422,629

Year-over-Year Comparison

	2024	2023	Change
Revenue	$345,070	$296,566	+0.2%
Expenses	$422,629	$310,365	+0.4%
Net Income	$-77,559	$-13,799	+4.6%

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

Governance

Voting Members

Independent Members

Employees

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

Total Directors

$200,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Scott Smith	Director	1.0	Director	$200,000	$0	$200,000
Bradley A Keywell	Chairman	1.0	Director	$0	$0	$0
Kim Keywell	Director	1.0	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
2024	$345,070	$422,629	$125,581	$-77,559
2023	$296,566	$310,364	$201,417	$-13,798
2022	$313,158	$262,329	$214,991	$50,829
2020	$787,864	$1,630,435	$651,354	$-842,571
2019	$3,585,958	$3,886,257	$1,582,291	$-300,299
2018	$3,671,842	$3,854,747	$1,717,749	$-182,905