NonprofitsEdison Innovation Foundation

Arts, Culture & Humanities

Edison Innovation Foundation

NEWARK, NJ

Total revenue

$940K

Total expenses

$684K

Net assets

$2.4M

Grants received

$454K

2 grants

EIN

223442892

Tax year

2024

Mission

To preserve and promote the historical facilities and papers of thomas edison where and in which he invented the products that shaped the modern world;to benefit all students providing the necessary skills to pursue careers in science and technology.

Programs

1 program

Eif's primary goal is to raise $90 million for the restoration and upkeep of edison's legacy throughout america. On october 9th, 2009, the legendary edison labs in west orange, nj opened after more than five years of major renovations. These buildings were in critical need of repair, and the collections including, notebooks, early prototypes, and thousands of early recordings were in danger or being lost due to deterioration. The initial focus of this campaign was to support the newly renamed thomas edison national historical park("tenhp') and associated educational and research efforts in general. However, during this initial phase, eif is also working on individual public sector projects as well as forming alliances with other organizations and foundations in order to achieve educational initiatives. Some recent public sector work is described in section below. (continued on sch o)

Financials

FY 2024

Revenue

Contributions & grants$752K
Program service revenue
Investment income$189K
Other revenue
Total revenue$940K

Expenses

Grants paid$45K
Salaries & benefits$497K
Fundraising$129K
Other expenses$142K
Total expenses$684K
Total assets$2.5M
Net assets$2.4M

People

4 listed

NameRoleCompensation

JOHN P KEEGAN

Chairman,Pres

Board

$204K

30 hrs/wk

THOMAS UNGERLAND

Exec Vice Pres

Board

$83K

20 hrs/wk

GEORGE Q KEEGAN

Treasurer/Secr

Board

$25K

2 hrs/wk

WADE KNOWLES

Vice President

Board

$12K

1 hrs/wk

Independent contractors

NONE

Grants received

Showing 2 of 2

FromAmountPurposeYear
$450K
UNRESTRICTED GRANT TO SUPPORT ORGANIZATION'S EXEMPT PURPOSE
2022
$4K
Invest Newark's Language of Capital
2022

Funded by

$454K from 2 funders · 2 grants · 2022

Community Foundation Of New Jersey

$450K · 1 grant · 2022

Pseg Foundation Inc

$4K · 1 grant · 2022

Details

EIN223442892
NTEE codeA800
Subsection03
Ruling date1996-07
Formed1996
Employees3
Volunteers1
EDISON INNOVATION FOUNDATION — Mission, Financials & Grants Received | Grantivo