Ivy Academy Inc
- Assets
- $8.7m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 94
- Location
- Soddy Daisy, TN
- Founding
- 10/2008
- Data as of
- 06/2022
- EIN
- 26-1533313
Organization Overview
Ivy Academy Inc is located in Soddy Daisy, TN. The organization was established in 2008. 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, Ivy Academy Inc employed 94 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ivy 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, Ivy Academy Inc generated $5.1m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $4.9m during the year ending 06/2022. While expenses have increased by 9.6% per year over the past 3 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A QUALITY EDUCATIONAL PROGRAM WITH AN EMPHASIS ON SCHOLARSHIP, ENVIRONMENTAL STEWARDSHIP, AND VOLUNTEERISM FOR ALL STUDENTS DESIGNED TO PREPARE THEM TO POSITIVELY INFLUENCE SOCIETY AND NATURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC CHARTER SCHOOL SERVING GRADES 6-12.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Darrell Meece President | OfficerTrustee | 1 | $0 |
Dr Patti Skates Vice President | OfficerTrustee | 1 | $0 |
Lisa Brown Interim Secretary | OfficerTrustee | 1 | $0 |
Ethan Miller Treasurer | OfficerTrustee | 1 | $0 |
Jerry Webb Board Director | Trustee | 1 | $0 |
Daniel Basham Board Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tri-con Architects Architect | 6/29/22 | $142,110 |
Chattanooga Bus Company Llc Bus Service | 6/29/22 | $217,340 |
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 | $85,863 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $85,863 |
| Total Program Service Revenue | $5,024,498 |
| Investment income | -$2,021 |
| 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 | $5,138,549 |
| 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. | $87,953 |
| Compensation of current officers, directors, key employees. | $87,953 |
| Compensation to disqualified persons | $2,973,135 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $138,341 |
| Other employee benefits | $163,668 |
| Payroll taxes | $214,378 |
| Fees for services: Management | $313 |
| Fees for services: Legal | $1,000 |
| Fees for services: Accounting | $45,037 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $220,334 |
| Advertising and promotion | $4,581 |
| Office expenses | $47,325 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $106,509 |
| Travel | $16,502 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $161,543 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $177,049 |
| Insurance | $49,736 |
| All other expenses | $124,806 |
| Total functional expenses | $4,905,645 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $425,013 |
| Savings and temporary cash investments | $506,355 |
| Pledges and grants receivable | $3,440 |
| Accounts receivable, net | $40,757 |
| 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 | $5,363,209 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $59,125 |
| Other assets | $2,317,311 |
| Total assets | $8,715,210 |
| Accounts payable and accrued expenses | $511,996 |
| 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 | $4,492,011 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,546,106 |
| Total liabilities | $6,550,113 |
| Net assets without donor restrictions | $298,042 |
| Net assets with donor restrictions | $1,867,055 |
| 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 | $8,715,210 |