Innovation Arts Academy Inc
- Assets
- $42.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Lexington, KY
- Founding
- 11/2016
- Data as of
- 08/2022
- EIN
- 81-2571338
Organization Overview
Innovation Arts Academy Inc is located in Lexington, KY. The organization was established in 2016. According to its NTEE Classification (A60) the organization is classified as: Performing Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovation Arts 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 08/2022, Innovation Arts Academy Inc generated $166.3k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $151.5k during the year ending 08/2022. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Joy Nelson Executive Director | 30 | $18,000 | |
Angie Fields Board Member | 5 | $0 | |
Erin Spaulding Board Member | 5 | $0 | |
Paige Rice Treasurer | 5 | $0 | |
Sarah Mcmahan Secretary | 5 | $0 | |
Kelley Nalli President | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $74 |
| Total Program Service Revenue | $166,209 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $166,283 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $45,227 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $22,936 |
| Printing, publications, postage, and shipping | $296 |
| Other expenses | $83,031 |
| Total expenses | $151,490 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $39,217 |
| Other assets | $0 |
| Total assets | $42,417 |
| Total liabilities | $4,219 |
| Net assets or fund balances | $38,198 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wolf Trap Foundation For The Performing Arts Vienna, VA | $98,256,215 | $37,160,457 |
Ravinia Festival Association Highland Park, IL | $230,171,878 | $43,242,885 |
The Tivoli Theatre Foundation Inc Chattanooga, TN | $19,745,641 | $23,020,214 |
Cave Hill Investment Company Louisville, KY | $206,891,533 | $9,697,721 |
Metropolitan School Of The Arts Alexandria, VA | $1,125,949 | $3,020,151 |
Paramount Theater Of Charlottesville Inc Charlottesville, VA | $2,248,840 | $3,822,333 |
Cumberland Plateau Company Inc Lebanon, VA | $9,644,678 | $675,012 |
Tiffin Theatre Inc Tiffin, OH | $2,679,846 | $1,395,141 |
Artists In Motion Inc Indianapolis, IN | $1,277,049 | $1,242,334 |
Canton Palace Theater Association Canton, OH | $2,184,067 | $959,253 |
Hoogland Center For The Arts Inc Springfield, IL | $6,969,049 | $1,022,079 |
Lorain Civic Center Committee Inc Lorain, OH | $2,570,344 | $1,085,093 |