Innovation Academy West
- Assets
- $905.9k
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 08/2009
- Data as of
- 06/2021
- 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 06/2021, Innovation Academy West generated $2.0m 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 (4.8%) each year. All expenses for the organization totaled $1.5m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (7.8%) 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
2021
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
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Board Member | Trustee | 2 | $250 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $744,433 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,219,119 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,963,552 |
| Total Program Service Revenue | $0 |
| Investment income | $78 |
| 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 | $1,974,284 |
| 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. | $12,625 |
| Compensation of current officers, directors, key employees. | $12,625 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $109,327 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $186,466 |
| Fees for services: Legal | $27,895 |
| Fees for services: Accounting | $46,112 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $16,142 |
| Office expenses | $58,992 |
| Information technology | $100,602 |
| Royalties | $0 |
| Occupancy | $25,204 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,178 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,736 |
| Insurance | $18,374 |
| All other expenses | $0 |
| Total functional expenses | $1,533,797 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $215,960 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $130,857 |
| Accounts receivable, net | $21,621 |
| 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 | $92,300 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $445,206 |
| Total assets | $905,944 |
| Accounts payable and accrued expenses | $327,592 |
| Grants payable | $34,935 |
| Deferred revenue | $668,371 |
| 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 | $1,292,389 |
| Total liabilities | $2,323,287 |
| 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 | $83,439 |
| Retained earnings, endowment, accumulated income, or other funds | -$1,500,782 |
| Total liabilities and net assets/fund balances | $905,944 |
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