Innovative Learning Inc
- Assets
- $22.1m
- Revenue
- $17.4m
- Investments
- $0.0
- Employees
- 236
- Location
- Annapolis, MD
- Founding
- 03/1980
- Data as of
- 06/2023
- EIN
- 52-1173307
Organization Overview
Innovative Learning Inc is located in Annapolis, MD. The organization was established in 1980. According to its NTEE Classification (B28) the organization is classified as: Special Education, under the broad grouping of Education and related organizations. As of 06/2023, Innovative Learning Inc employed 236 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovative Learning 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, Innovative Learning Inc generated $17.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $16.7m during the year ending 06/2023. While expenses have increased by 4.3% per year over the past 7 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 KEEP THE HARBOUR SCHOOL A SAFE PLACE WHERE CHILDREN WITH LEARNING DISABILITIES BECOME SUCCESSFUL LEARNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INNOVATIVE LEARNING, INC. (THE SCHOOL) PROVIDES STUDENTS WITH LEARNING DISABILITIES AND MULTIPLE DISABILITIES WITH EDUCATION, SOCIAL SKILLS TRAINING, JOB TRAINING AND COLLEGE PREPARATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Martha D Schneider Vice President | OfficerTrustee | 50 | $121,452 |
Linda Jacobs President And Executive Direc | OfficerTrustee | 50 | $95,547 |
Kathleen Fitch Member | Trustee | 2 | $0 |
Sandra Liotta Member | Trustee | 2 | $0 |
Robin Vaughn Member | Trustee | 2 | $0 |
Yvonne B Callaway Secretarytreasurer | OfficerTrustee | 10 | $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 | $396,050 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $396,050 |
| Total Program Service Revenue | $16,518,208 |
| Investment income | $78,528 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $389,413 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,407,342 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $12,239 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $216,999 |
| Compensation of current officers, directors, key employees. | $39,443 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,194,407 |
| Pension plan accruals and contributions | $427,039 |
| Other employee benefits | $1,908,186 |
| Payroll taxes | $844,560 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,363 |
| Fees for services: Accounting | $47,855 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $46,372 |
| Fees for services: Other | $57,534 |
| Advertising and promotion | $42,202 |
| Office expenses | $434,399 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,988,633 |
| Travel | $74,727 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $53,093 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $219,331 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $16,695,933 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,116,224 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $875,688 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $85,196 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $96,964 |
| Net Land, buildings, and equipment | $2,433,653 |
| Investments—publicly traded securities | $7,141,680 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,394,274 |
| Total assets | $22,143,679 |
| Accounts payable and accrued expenses | $568,495 |
| Grants payable | $0 |
| Deferred revenue | $292,450 |
| 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 | $7,798,783 |
| Total liabilities | $8,659,728 |
| Net assets without donor restrictions | $13,427,191 |
| Net assets with donor restrictions | $56,760 |
| 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 | $22,143,679 |