Miami-Dade Foundation for Educational Innovation

Analysis

Miami-Dade Foundation for Educational Innovation is a registered charity in United States, based in Miami Springs, FL. It received its IRS tax-exemption ruling in April 2013, 13 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Miami-Dade Foundation for Educational Innovation reported income of $11.5m and spending of $10.1m, spending 87% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.9m to $11.5m (+137%), an average of +24% a year. The sharpest change came in the year to June 2021, when income rose by 52%. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Miami-Dade Foundation for Educational Innovation sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within FL. Charities of a similar size with the same main cause include Victory Ridge Academy Inc ($11.5m), Statesmen College Preparatory Academy for Boys PCS ($11.5m) and Youth Renewal Fund ($11.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 26% and program service revenue 74% of the total. Compensation of current officers, directors and key employees was $182k (1.8% of expenses). Other salaries and wages came to $6.0m. At year end it held assets of $8.6m against liabilities of $4.1m, net assets of $4.5m. It reported 140 employees.