Genesis Innovation Academy Inc
- Assets
- $15.6m
- Revenue
- $11.2m
- Investments
- $0.0
- Employees
- 70
- Location
- Atlanta, GA
- Founding
- 05/2017
- Data as of
- 06/2022
- EIN
- 81-4056534
Organization Overview
Genesis Innovation Academy Inc is located in Atlanta, GA. The organization was established in 2017. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Genesis Innovation Academy Inc employed 70 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Genesis Innovation Academy 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 06/2022, Genesis Innovation Academy Inc generated $11.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 60.8% each year . All expenses for the organization totaled $10.0m during the year ending 06/2022. 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
TO CREATE THE NEXT GENERATION OF PATH-BREAKING INNOVATORS, WHO MAXIMIZE THEIR TALENTS AND ASSETS, PURSUE THEIR UNIQUE VISION, PURPOSE AND PASSION; AND LEAD BY SERVING WITH UNCOMPROMISING DISCIPLINE AND INTEGRITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO CREATE THE NEXT GENERATION OF PATH-BREAKING INNOVATORS, WHO MAXIMIZE THEIR TALENTS AND ASSETS, PURSUE THEIR UNIQUE VISION, PURPOSE AND PASSION; AND LEAD BY SERVING WITH UNCOMPROMISING DISCIPLINE AND INTEGRITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gavin A Samms Head Of Schools | Officer | 0 | $150,000 |
Marcus Shute Sr Vice Chair | Officer | 0 | $0 |
Tomika Jones Board Chair | Officer | 0 | $0 |
Eddie Bradford Treasurer | Officer | 0 | $0 |
Taylor Brown Board Member | Officer | 0 | $0 |
Daryl C Jones Board Member | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,986,241 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,986,241 |
| Total Program Service Revenue | $9,260,241 |
| Investment income | $0 |
| 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 | $11,246,482 |
| 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 | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $230,761 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $2,598,083 |
| Total functional expenses | $9,964,672 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,980,314 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $412,810 |
| 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 | $9,180 |
| Net Land, buildings, and equipment | $3,976,193 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,228,878 |
| Total assets | $15,607,375 |
| Accounts payable and accrued expenses | $473,191 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $10,741,020 |
| Total liabilities | $11,214,211 |
| Net assets without donor restrictions | $4,393,164 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $15,607,375 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Genesis Innovation Academy Inc has recieved totaling $320.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $320 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
James Island Charter High School Charleston, SC | $22,889,433 | $20,877,381 |
Legacy Early College Greenville, SC | $11,865,335 | $23,115,805 |
Pine Lake Preparatory Inc Mooresville, NC | $43,880,592 | $18,139,159 |
The Foundation For Osceola Education Inc Kissimmee, FL | $17,231,201 | $18,787,939 |
Lake Technical College Inc Eustis, FL | $17,510,446 | $18,253,168 |
Memphis Business Academy Memphis, TN | $29,884,603 | $21,343,740 |
Uwharrie Green School Inc Asheboro, NC | $37,750,042 | $15,359,750 |
Northstar Academies Inc Fort Lauderdale, FL | $8,255,029 | $17,151,740 |
Bradford Preparatory School Charlotte, NC | $43,531,972 | $16,692,910 |
Triangle Charter Education Association Inc Cary, NC | $23,775,884 | $15,148,719 |
Invest Collegiate Imagine Inc Asheville, NC | $38,770,080 | $14,359,175 |
Global Outreach Charter Academys Jacksonville, FL | $28,025,971 | $16,215,591 |