Ignite Entrepreneurship Academy Inc
- Assets
- $10.6m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 84
- Location
- Lehi, UT
- Founding
- 01/2017
- Data as of
- 06/2022
- EIN
- 81-1918602
Organization Overview
Ignite Entrepreneurship Academy Inc is located in Lehi, UT. 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, Ignite Entrepreneurship Academy Inc employed 84 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ignite Entrepreneurship 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, Ignite Entrepreneurship Academy Inc generated $5.1m in total revenue. All expenses for the organization totaled $4.3m during the year ending 06/2022. While expenses have increased by 97.5% per year over the past 6 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 PROMOTE ENTREPRENEURIAL SUCCESS THROUGH ACADEMIC RIGOR, PROJECT-BASED LEARNING, AND CREATING A CULTURE OF CREATIVITY, COLLABORATION, ADAPTABILITY, ACCOUNTABILITY, COMMUNICATION, AND PROBLEM SOLVING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OPERATE A PUBLIC CHARTER SCHOOL FOR STUDENTS FROM KINDERGARTEN TO SEVENTH GRADE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heidi Long Executive Dir. | Officer | 40 | $127,942 |
Kelly Tate Director | Trustee | 40 | $56,269 |
Ryan Marshall Treasurer | Trustee | 2 | $0 |
Michelle Charles Director | Trustee | 2 | $0 |
Laura St Onge Director | Trustee | 2 | $0 |
Travis Lish Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,555,148 |
| All other contributions, gifts, grants, and similar amounts not included above | $427,534 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,982,682 |
| Total Program Service Revenue | $162,395 |
| Investment income | $3,231 |
| 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 | $5,148,308 |
| 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. | $127,942 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,251,093 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $422,244 |
| 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 | $285,497 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $258,114 |
| Insurance | $0 |
| All other expenses | $88,353 |
| Total functional expenses | $4,340,733 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,292,599 |
| Savings and temporary cash investments | $523,931 |
| Pledges and grants receivable | $9,116 |
| Accounts receivable, net | $0 |
| 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 | $5,000 |
| Net Land, buildings, and equipment | $8,775,962 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,606,608 |
| Accounts payable and accrued expenses | $264,071 |
| Grants payable | $0 |
| Deferred revenue | $13,930 |
| Tax-exempt bond liabilities | $9,280,000 |
| 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 | $0 |
| Total liabilities | $9,558,001 |
| Net assets without donor restrictions | $1,048,607 |
| 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 | $10,606,608 |