Academy Of Innovation Inc
- Assets
- $950.6k
- Revenue
- $791.7k
- Investments
- $0.0
- Employees
- 22
- Location
- Gainesville, GA
- Founding
- 08/2016
- Data as of
- 05/2023
- EIN
- 81-3180774
Organization Overview
Academy Of Innovation Inc is located in Gainesville, GA. The organization was established in 2016. According to its NTEE Classification (B28) the organization is classified as: Special Education, under the broad grouping of Education and related organizations. As of 05/2023, Academy Of Innovation Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Academy Of Innovation Inc 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 05/2023, Academy Of Innovation Inc generated $791.7k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $764.9k during the year ending 05/2023. While expenses have increased by 7.6% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF ACADEMY OF INNOVATION IS TO MAXIMIZE THE POTENTIAL OF STUDENTS WITH LEARNING DISABILITIES AND DEVELOP FOUNDATIONS FOR SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACADEMY OF INNOVATION IS AN ACCREDITED PRIVATE SCHOOL WITH A PERSONALIZED AND POSITIVE APPROACH TO TEACHING CHILDREN IN GRADES 1 - 12. A FULL-TIME PRIVATE SCHOOL, WE COMPLEMENT OUR COMMUNITY'S EDUCATIONAL SYSTEM WITH INNOVATIVE APPROACHES AND PROVEN RESEARCH-BASED TEACHING METHODS TO INDIVIDUALLY ADDRESS THE NEEDS OF STUDENTS FACING LEARNING BARRIERS. DURING THE YEAR ENDED MAY 31, 2023, WE SERVED A TOTAL OF 34 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol Henderson Head Of Scho | Officer | 40 | $69,121 |
Adam Blackwell Director | Trustee | 1 | $0 |
Anthony Dye Chairperson | OfficerTrustee | 2 | $0 |
Brent Hatcher Director | Trustee | 2 | $0 |
Richard Malcolm Committee Ch | OfficerTrustee | 1 | $0 |
Martha Megahee Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $216,199 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $216,199 |
| Total Program Service Revenue | $572,092 |
| Investment income | $3,444 |
| 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 | $791,735 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $152,292 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $69,121 |
| Compensation of current officers, directors, key employees. | $13,824 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $290,440 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,589 |
| Payroll taxes | $31,100 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,857 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $23,350 |
| Advertising and promotion | $2,482 |
| Office expenses | $29,208 |
| Information technology | $11,153 |
| Royalties | $0 |
| Occupancy | $80,524 |
| Travel | $100 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,339 |
| Insurance | $6,177 |
| All other expenses | $0 |
| Total functional expenses | $764,883 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $244,312 |
| Savings and temporary cash investments | $666,990 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,712 |
| 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 | $3,874 |
| Net Land, buildings, and equipment | $28,744 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $950,632 |
| Accounts payable and accrued expenses | $42,003 |
| Grants payable | $0 |
| Deferred revenue | $20,225 |
| 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 | $0 |
| Total liabilities | $62,228 |
| Net assets without donor restrictions | $687,119 |
| Net assets with donor restrictions | $201,285 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $950,632 |