Indiana Math And Science Academy -Indianapolis Inc
- Assets
- $8.4m
- Revenue
- $9.4m
- Investments
- $0.0
- Employees
- 96
- Location
- Indianapolis, IN
- Founding
- 05/2007
- Data as of
- 06/2023
- EIN
- 20-5751308
Organization Overview
Indiana Math And Science Academy -Indianapolis Inc is located in Indianapolis, IN. The organization was established in 2007. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2023, Indiana Math And Science Academy -Indianapolis Inc employed 96 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indiana Math And Science Academy -Indianapolis 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 06/2023, Indiana Math And Science Academy -Indianapolis Inc generated $9.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $7.6m during the year ending 06/2023. While expenses have increased by 5.8% per year over the past 8 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
TO PROVIDE FOR AN ENVIRONMENT OF LEARNING FOR EDUCATIONALLY UNDER-RESOURCED STUDENTS THROUGH A RIGOROUS COLLEGE PREPARATORY PROGRAM FOCUSING ON SCIENCE, MATHEMATICS, AND TECHNOLOGY IN AN ATMOSPHERE THAT PROVIDES STUDENTS, PARENTS, AND TEACHERS OPPORTUNITIES FOR CONTINUOUS GROWTH, ENABLING THEM TO REACH THEIR HIGHEST POTENTIAL IN LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR SCHOOL OFFERED AN ACADEMIC PROGRAM AIMED AT PROVIDING A COMPREHENSIVE AND NURTURING EDUCATIONAL ENVIRONMENT FOR STUDENTS IN KINDERGARTEN THROUGH 8TH GRADE AND TO FOSTER ACADEMIC EXCELLENCE, PERSONAL GROWTH, AND SOCIAL DEVELOPMENT. THROUGH A RIGOROUS CURRICULUM, DEDICATED EDUCATORS, AND A SUPPORTIVE COMMUNITY, WE STRIVE TO EQUIP STUDENTS WITH ESSENTIAL KNOWLEDGE, CRITICAL THINKING SKILLS, AND VALUES THAT WILL PREPARE THEM FOR SUCCESS IN HIGHER EDUCATION AND IN LIFE.CLIENTS SERVED: 550 STUDENTS IN GRADES K-8.DURATION: PROVIDED THROUGHOUT THE ACADEMIC YEAR, CONSISTING OF 30-WEEK SESSIONS.ACTIVITIES: CONDUCTED DAILY LESSONS AND INTERACTIVE LEARNING ACTIVITIES, RESULTING IN AN AVERAGE 5% IMPROVEMENT IN STANDARDIZED TEST SCORES.
SUMMER ENRICHMENT PROGRAM:OBJECTIVE: OUR SCHOOL OFFERED AN ACADEMIC ENRICHMENT PROGRAM AIMED AT IMPROVING STUDENTS' CORE SKILLS IN MATH AND LANGUAGE ARTS.CLIENTS SERVED: APPROXIMATELY 150 STUDENTS, PARENTS, AND COMMUNITY MEMBERS.DURATION: DURING SUMMER BREAK, FROM JUNE TO MID JULY.ACTIVITIES: CONDUCTED DAILY MATH AND ELA LESSONS, TUTORING SESSIONS, AND INTERACTIVE LEARNING ACTIVITIES
STEAM EXTRACURRICULAR PROGRAM:OBJECTIVE: OFFERED A SCIENCE, TECHNOLOGY, ENGINEERING, ARTS, AND MATH (STEAM) PROGRAM TO PROMOTE HANDS-ON LEARNING AND CREATIVITY.CLIENTS SERVED: 550 STUDENTS IN GRADES K-8.DURATION: TWO SEMESTERS.ACTIVITIES: CONDUCTED WEEKLY STEAM LESSONS, INCLUDING ROBOTICS, CODING, AND ART PROJECTS, RESULTING IN A 20% INCREASE IN STUDENT INTEREST IN STEAM-RELATED SUBJECTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Sparks Board Chair | OfficerTrustee | 1 | $0 |
Daniel Pierson Vice Board Chair | OfficerTrustee | 1 | $0 |
Toby Miller Finance Chair | OfficerTrustee | 1 | $0 |
Bernice Valentine-Watts Acd. Excellence Chair | Trustee | 1 | $0 |
Firdas Abamislimova Member | Trustee | 1 | $0 |
Nikola Coleman Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ceres Foods Food Service | 6/29/23 | $501,633 |
Miller Transportation Transportation Company | 6/29/23 | $377,424 |
Visionary School Trust Health, Dental And Other Medical Service | 6/29/23 | $372,365 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,139,728 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,024 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,140,752 |
| Total Program Service Revenue | $166,108 |
| Investment income | $56,210 |
| 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 | $9,380,764 |
| 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 | $4,240,012 |
| Pension plan accruals and contributions | $311,868 |
| Other employee benefits | $237,326 |
| Payroll taxes | $311,950 |
| Fees for services: Management | $483,885 |
| Fees for services: Legal | $6,541 |
| Fees for services: Accounting | $24,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $209,084 |
| Advertising and promotion | $12,930 |
| Office expenses | $147,628 |
| Information technology | $177,692 |
| Royalties | $0 |
| Occupancy | $225,512 |
| Travel | $7,753 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $13,814 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $189,793 |
| Insurance | $31,744 |
| All other expenses | $37,538 |
| Total functional expenses | $7,597,726 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,238,455 |
| Savings and temporary cash investments | $1,808,251 |
| Pledges and grants receivable | $662,051 |
| Accounts receivable, net | $90,132 |
| 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 | $4,599,377 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,398,266 |
| Accounts payable and accrued expenses | $1,104,006 |
| 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 | $1,137,630 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,241,636 |
| Net assets without donor restrictions | $6,156,630 |
| 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 | $8,398,266 |