Overview
What is Initiative For Digital Engineering And Life Sciences?
Initiative For Digital Engineering And Life Sciences, based in Falmouth, Maine, is a dedicated nonprofit organization. Its primary mission is to establish a graduate institute in Portland, focusing on artificial intelligence, digital science, genomics, and life sciences. To achieve this goal, the organization has secured a 13.5-acre site, previously used as a B&M Baked Beans factory, for the construction of its campus. In collaboration with Roux Institute and Northeastern University, an extensive master planning process has been conducted to design a learning, research, and collaboration facility. The selected architectural firm and at-risk construction manager are currently involved in the project, with the necessary zoning changes approved for campus purposes. The nonprofit, with a workforce of two individuals, is committed to fostering innovation, entrepreneurship, and education in these specialized fields.
What are the reviews and ratings of this charity?
The Initiative For Digital Engineering And Life Sciences (IDEALS) has a "Needs Improvement" rating from Charity Navigator, scoring 64%, which garners a two-star rating. This rating is based entirely on their Accountability & Finance criteria. The charity excels in certain areas like material asset management and liability, but it faces challenges in financial transparency and governance policies.
Strengths of IDEALS include having mostly independent board members and a very low liabilities-to-assets ratio, which suggests fiscal stability. They excel in maintaining sufficient working capital and ensuring no conflicts of interest in financial dealings. However, the organization lacks comprehensive financial statements, a Conflict of Interest Policy, and other key governance documents on their website, negatively impacting their score.
Despite these limitations, IDEALS benefits from a high working capital ratio, indicating long-term financial health. However, there is room for improvement in program expenses and fundraising efficiency. Salary allocations for key personnel might also raise questions for some stakeholders, which highlights the need for more detailed impact and measurement data. There are no user reviews available on GreatNonprofits, so public sentiment from individual experiences with the organization remains unexplored.
This AI summary has been generated from information found on Charity Navigator.
Is Initiative For Digital Engineering And Life Sciences legitimate?
Initiative For Digital Engineering And Life Sciences is a legitimate nonprofit organization registered as a 501(c)(3) entity. Initiative For Digital Engineering And Life Sciences submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Initiative For Digital Engineering And Life Sciences?
The Initiative For Digital Engineering and Life Sciences is dedicated to establishing and operating a graduate institution focusing on artificial intelligence, digital science, genomics, and life sciences. Its primary goal is to educate students, conduct research, and foster innovation and entrepreneurialism in these fields. The organization supports this mission by partnering with institutions like the Roux Institute and Northeastern University to plan and design a campus, including a learning, research, and collaboration building. It has also secured a suitable location for the campus, such as the 13.5-acre B&M Baked Beans factory site, and initiated the process of rezoning the site for campus purposes. The initiative's activities aim to contribute significantly to the advancement of these fields.
Who is the CEO of Initiative For Digital Engineering And Life Sciences?
Charles Hewett is the Board Chair of Initiative For Digital Engineering And Life Sciences.
What is the revenue of Initiative For Digital Engineering And Life Sciences?
Initiative For Digital Engineering And Life Sciences's revenue in 2022 was $11,747,907.
Who are the executives of Initiative For Digital Engineering And Life Sciences and what are their salaries?
There are 2 employees and 2 volunteers at Initiative For Digital Engineering And Life Sciences.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $440,000
- Related: $0
- Other: $0
- Compensation: $305,208
- Related: $0
- Other: $53,067
Where can I find the form 990 for Initiative For Digital Engineering And Life Sciences?
Initiative For Digital Engineering And Life Sciences's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Initiative For Digital Engineering And Life Sciences
The Initiative For Digital Engineering and Life Sciences is dedicated to advancing education, research, and innovation in the fields of artificial intelligence, digital science, genomics, and life sciences. They are committed to establishing and operating a graduate institute that nurtures students and fosters entrepreneurialism in these domains. The corporation's mission is to serve as a hub for learning, research, and innovation, contributing to the development of these critical fields. To achieve this goal, they have undertaken master planning and acquired a 13.5-acre site, formerly a B&M Baked Beans factory, which they plan to convert into the Roux Campus. In partnership with the Roux Institute and Northeastern University, they are planning and designing learning, research, and collaboration buildings for this campus. The initiative has also engaged an architectural firm to design the Roux Institute facility and an at-risk construction manager to oversee its construction. Their mission is to capitalize on these investments, rather than reporting them as expenses, in order to create a robust and impactful graduate institute.
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Impact
July, 2024
Initiative For Digital Engineering And Life Sciences has made a significant impact by establishing a graduate institute dedicated to instructing students, conducting research, and supporting innovation and entrepreneurialism in the fields of artificial intelligence, digital science, genomics, and life sciences in Portland, Maine. The organization successfully conducted master planning, acquired a 13.5-acre B&M Baked Beans factory site, and partnered with Roux Institute and Northeastern University to convert the site into the Roux Campus. They have also collaborated with architectural firms and construction managers to design and construct the Roux Institute facility. Additionally, Initiative For Digital Engineering And Life Sciences achieved the rezoning of the site for campus purposes, contributing to the development and growth of educational opportunities in the region.
This information is meant to be a general summary of Initiative For Digital Engineering And Life Sciences. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $18,407
- Gross Receipts: $11,747,907
Assets and Liabilities:
- Total Assets: $26,872,146
- Total Liabilities: $869,292
- Net Assets: $26,002,854
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Organization Details
Founding Year
2018
Phone
(207) 781-3445Principal Officer
Charles Hewett
Main Address
6 FUNDY ROAD 100, FALMOUTH, ME, 041051780
NTEE Category
Code: B19 - Education
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