Edison Innovation Foundation

Newark, NJ
Tax-exempt since July 1996
EIN: 22-3442892

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Arts, Culture and Humanities / Historical Societies, Related Historical Activities (NTEE)

Donations to this organization are tax deductible.

Details

According to its Dec. 2023 tax filing, this nonprofit:

Provided first-class or charter travel

Organization provided first-class or charter travel to key employees or officers. Details are reported on Schedule J.

Revenue

$622k (2023)

Expenses

$707k (2023)

Total Assets

$2.13M (2023)

Total Liabilities

$38.5k (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Revenue

$621,683

Expenses

$707,143

Net Income

-$85,460

Net Assets

$2,094,941

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$523,600	84.2%
Program Services	$0
Investment Income	$46,623	7.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$51,460	8.3%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$322,520	45.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$137,391	19.4%

Assets/Debt
Total Assets	$2,133,476
Total Liabilities	$38,535
Net Assets	$2,094,941

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
John P Keegan (Chairman,Pres)	$203,500	$0	$0
Thomas Ungerland (Exec Vice Pres)	$82,500	$0	$0
George Q Keegan (Treasurer/Secr)	$24,860	$0	$0
Wade Knowles (Vice President)	$11,660	$0	$0

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990

Filed on May 15, 2024

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2022

Revenue

$755,080

Expenses

$679,442

Net Income

$75,638

Net Assets

$2,118,287

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$630,500	83.5%
Program Services	$0
Investment Income	$44,670	5.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$79,910	10.6%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$322,520	47.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$136,141	20.0%

Assets/Debt
Total Assets	$2,149,726
Total Liabilities	$31,439
Net Assets	$2,118,287

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
John P Keegan (Chairman,Pres)	$203,500	$0	$0
Thomas Ungerland (Exec Vice Pres)	$82,500	$0	$0
George Q Keegan (Treasurer/Secr)	$24,860	$0	$0
Wade Knowles (Vice President)	$11,660	$0	$0

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990

Filed on May 15, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

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XML

Fiscal Year Ending Dec.
2021

Revenue

$867,148

Expenses

$632,001

Net Income

$235,147

Net Assets

$2,338,648

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$700,768	80.8%
Program Services	$0
Investment Income	$39,472	4.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$126,908	14.6%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$293,840	46.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$134,891	21.3%

Assets/Debt
Total Assets	$2,401,369
Total Liabilities	$62,721
Net Assets	$2,338,648

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
John P Keegan (Chairman,Pres)	$185,640	$0	$0
Thomas Ungerland (Exec Vice Pres)	$75,000	$0	$0
George Q Keegan (Treasurer/Secr)	$22,600	$0	$0
Wade Knowles (Vice President)	$10,600	$0	$0

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990

Filed on Oct. 25, 2022

Primary tax return for a nonprofit’s activities, finances, and governance

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XML

Fiscal Year Ending Dec.
2020

Revenue

$761,133

Expenses

$663,582

Net Income

$97,551

Net Assets

$1,862,344

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$674,049	88.6%
Program Services	$0
Investment Income	$36,598	4.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$50,486	6.6%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$293,840	44.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$132,391	20.0%

Assets/Debt
Total Assets	$1,895,677
Total Liabilities	$33,333
Net Assets	$1,862,344

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
John P Keegan (Chairman,Prsdnt)	$185,640	$0	$0
Thomas Ungerland (Exec Vice Pres)	$75,000	$0	$0
George Q Keegan (Treasurer/Secr)	$22,600	$0	$0
Wade Knowles (Vice President)	$10,600	$0	$0

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990

Filed on Sept. 15, 2021

Primary tax return for a nonprofit’s activities, finances, and governance

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XML

Fiscal Year Ending Dec.
2019

Revenue

$448,888

Expenses

$615,667

Net Income

-$166,779

Net Assets

$1,752,021

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$368,890	82.2%
Program Services	$0
Investment Income	$35,359	7.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$44,639	9.9%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$293,840	47.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$121,558	19.7%

Assets/Debt
Total Assets	$1,784,674
Total Liabilities	$32,653
Net Assets	$1,752,021

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
John P Keegan (Chairman,Prsdnt)	$185,640	$0	$0
Thomas Ungerland (Exec Vice Pres)	$75,000	$0	$0
George Q Keegan (Treasurer/Secr)	$22,600	$0	$0
Wade Knowles (Vice President)	$10,600	$0	$0

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990

Filed on July 15, 2020

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2018

Revenue

$975,382

Expenses

$673,478

Net Income

$301,904

Net Assets

$1,660,732

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$890,597	91.3%
Program Services	$0
Investment Income	$35,419	3.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$49,366	5.1%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$293,840	43.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$118,224	17.6%

Assets/Debt
Total Assets	$1,724,654
Total Liabilities	$63,922
Net Assets	$1,660,732

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
John P Keegan (Chairman,Prsdnt)	$185,640	$0	$0
Thomas Ungerland (Exec Vice Pres)	$75,000	$0	$0
George Q Keegan (Treasurer/Secr)	$22,600	$0	$0
Wade Knowles (Vice President)	$10,600	$0	$0

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990

Filed on May 15, 2019

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2017

Revenue

$407,095

Expenses

$785,260

Net Income

-$378,165

Net Assets

$1,521,908

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$279,033	68.5%
Program Services	$0
Investment Income	$34,822	8.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$93,240	22.9%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$293,840	37.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$111,752	14.2%

Assets/Debt
Total Assets	$1,555,121
Total Liabilities	$33,213
Net Assets	$1,521,908

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
John P Keegan (Chairman,Prsdnt)	$185,640	$0	$0
Thomas Ungerland (Exec Vice Pres)	$75,000	$0	$0
George Q Keegan (Treasurer/Secr)	$22,600	$0	$0
Wade Knowles (Vice President)	$10,600	$0	$0
James Howe (Trustee)	$0	$0	$0

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990

Filed on May 15, 2018

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Fiscal Year Ending Dec.
2016

Revenue

$384,538

Expenses

$835,596

Net Income

-$451,058

Net Assets

$1,831,493

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$263,250	68.5%
Program Services	$0
Investment Income	$34,256	8.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$87,032	22.6%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$268,840	32.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$108,815	13.0%

Assets/Debt
Total Assets	$1,865,246
Total Liabilities	$33,753
Net Assets	$1,831,493

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
John P Keegan (Chairman,Prsdnt)	$185,640	$0	$0
Thomas Ungerland (Exec Vice Pres)	$50,000	$0	$0
George Q Keegan (Treasurer/Secr)	$22,600	$0	$0
Wade Knowles (Vice President)	$10,600	$0	$0
James Howe (Trustee)	$0	$0	$0

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990

Filed on May 15, 2017

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Fiscal Year Ending Dec.
2015

Revenue

$514,282

Expenses

$757,690

Net Income

-$243,408

Net Assets

$2,268,829

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$390,259	75.9%
Program Services	$0
Investment Income	$37,835	7.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$86,188	16.8%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$268,840	35.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$111,215	14.7%

Assets/Debt
Total Assets	$2,303,563
Total Liabilities	$34,734
Net Assets	$2,268,829

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
John P Keegan (Chairman,Prsdnt)	$185,640	$0	$0
Thomas Ungerland (Exec Vice Pres)	$50,000	$0	$0
George Q Keegan (Treasurer/Secr)	$22,600	$0	$0
Wade Knowles (Vice President)	$10,600	$0	$0
James Howe (Trustee)	$0	$0	$0

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990

Filed on May 16, 2016

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Fiscal Year Ending Dec.
2014

Revenue

$471,656

Expenses

$627,946

Net Income

-$156,290

Net Assets

$2,646,119

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$433,406	91.9%
Program Services	$0
Investment Income	$34,981	7.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$3,269	0.7%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$268,840	42.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$96,215	15.3%

Assets/Debt
Total Assets	$2,682,243
Total Liabilities	$36,124
Net Assets	$2,646,119

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
John P Keegan (Chairman,Prsdnt)	$185,640	$0	$0
Thomas Ungerland (Exec Vice Pres)	$50,000	$0	$0
George Q Keegan (Treasurer/Secr)	$22,600	$0	$0
Wade Knowles (Vice President)	$10,600	$0	$0
James Howe (Trustee)	$0	$0	$0

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990

Filed on May 15, 2015

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Fiscal Year Ending Dec.
2013

Revenue

$358,434

Expenses

$1,232,764

Net Income

-$874,330

Net Assets

$2,695,051

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$311,747	87.0%
Program Services	$0
Investment Income	$36,712	10.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$8,575	2.4%
Net Inventory Sales	$0
Other Revenue	$1,400	0.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$268,840	21.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$98,715	8.0%

Assets/Debt
Total Assets	$2,727,595
Total Liabilities	$32,544
Net Assets	$2,695,051

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
John P Keegan (Chairman,Prsdnt)	$185,640	$0	$0
Thomas Ungerland (Exec Vice Pres)	$50,000	$0	$0
George Q Keegan (Treasurer/Secr)	$22,600	$0	$0
Wade Knowles (Vice President)	$10,600	$0	$0
James Howe (Trustee)	$0	$0	$0

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990

Filed on May 13, 2014

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Fiscal Year Ending Dec.
2012

Revenue

$1,017,279

Expenses

$577,834

Net Income

$439,445

Net Assets

$3,436,900

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$982,946	96.6%
Program Services	$0
Investment Income	$39,954	3.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$5,621
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$268,840	46.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$96,215	16.7%

Assets/Debt
Total Assets	$3,474,662
Total Liabilities	$37,762
Net Assets	$3,436,900

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$586,387

Expenses

$612,368

Net Income

-$25,981

Net Assets

$2,940,514

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$599,263	> 100%
Program Services	$0
Investment Income	$34,904	6.0%
Bond Proceeds	$0
Royalties	$2,107	0.4%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$49,887
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$268,840	43.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$96,215	15.7%

Assets/Debt
Total Assets	$2,975,635
Total Liabilities	$35,121
Net Assets	$2,940,514

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

PDF (2 of 2)

Fiscal Year Ending Dec.
2001

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

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Updated November 21, 2024

Edison Innovation Foundation

Organization summary

Type of Nonprofit

Details

Summary charts: organization finances over time

Revenue $622k (2023)

Expenses $707k (2023)

Total Assets $2.13M (2023)

Total Liabilities $38.5k (2023)

Tax Filings by Year

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Revenue

$622k (2023)

Expenses

$707k (2023)

Total Assets

$2.13M (2023)

Total Liabilities

$38.5k (2023)

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004

Fiscal Year Ending Dec.
2003

Fiscal Year Ending Dec.
2002

Fiscal Year Ending Dec.
2001