Innovation Academy West
- Assets
- $1.5m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 08/2009
- Data as of
- 06/2022
- EIN
- 36-4461370
Organization Overview
Innovation Academy West is located in Cleveland, OH. The organization was established in 2009. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovation Academy West is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Innovation Academy West generated $2.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $1.5m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (8.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
INNOVATION ACADEMY WEST IS DEDICATED TO IMPROVING THE LIVES OF ITS STUDENTS BY PROVIDING AUTHENTIC LEARNING EXPERIENCES IN A COLLABORATIVE, NURTURING ENVIRONMENT THAT WILL BUILD A FOUNDATION FOR STUDENTS' SUCCESS IN SCHOOL, AT FUTURE WORK, AND IN LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE EFFECTIVE, CONSISTENT AND ACADEMICALLY RIGOUROUS EDUCATION IN A SAFE, DISCIPLINED AND NURTURING ENVIRONMENT
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Board Member | Trustee | 1 | $2,375 |
Name Not Listed Board Member | Trustee | 1 | $1,500 |
Name Not Listed Board Member | Trustee | 1 | $1,375 |
Name Not Listed Board Member | Trustee | 1 | $2,250 |
Name Not Listed Board Member | Trustee | 1 | $2,500 |
Name Not Listed Board Member | Trustee | 1 | $2,125 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $949,339 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,085,277 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,034,616 |
| Total Program Service Revenue | $0 |
| Investment income | $527 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,051,805 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $118,678 |
| Payroll taxes | $0 |
| Fees for services: Management | $324,433 |
| Fees for services: Legal | $25,605 |
| Fees for services: Accounting | $47,184 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $12,337 |
| Office expenses | $14,950 |
| Information technology | $34,676 |
| Royalties | $0 |
| Occupancy | $24,000 |
| Travel | $1,924 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,359 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $65,942 |
| Insurance | $15,442 |
| All other expenses | $0 |
| Total functional expenses | $1,471,305 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $445,569 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $176,490 |
| Accounts receivable, net | $944 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $307,338 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $553,149 |
| Total assets | $1,483,490 |
| Accounts payable and accrued expenses | $428,308 |
| Grants payable | $34,935 |
| Deferred revenue | $1,165,733 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $691,357 |
| Total liabilities | $2,320,333 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $168,772 |
| Retained earnings, endowment, accumulated income, or other funds | -$1,005,615 |
| Total liabilities and net assets/fund balances | $1,483,490 |