Academy Of Innovation Inc
- Assets
- $918.5k
- Revenue
- $974.9k
- Investments
- $0.0
- Employees
- 27
- Location
- Gainesville, GA
- Founding
- 08/2016
- Data as of
- 05/2022
- EIN
- 81-3180774
Organization Overview
Academy Of Innovation Inc is located in Gainesville, GA. The organization was established in 2016. According to its NTEE Classification (B28) the organization is classified as: Special Education, under the broad grouping of Education and related organizations. As of 05/2022, Academy Of Innovation Inc employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Academy Of Innovation 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 05/2022, Academy Of Innovation Inc generated $974.9k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $770.1k during the year ending 05/2022. While expenses have increased by 9.3% per year over the past 5 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 INDIVIDUALIZED, STUDENT-FOCUSED ACADEMIC SERVICES THAT HELP MAXIMIZE BOTH THE SCHOLASTIC AND CAREER-RELATED SUCCESS OF THOSE STUDENTS IN THE NE GEORGIA AREA WHO POSSESS LEARNING DIFFERENCES AND CHALLENGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACADEMY OF INNOVATION IS AN ACCREDITED PRIVATE SCHOOL WITH A PERSONALIZED AND POSITIVE APPROACH TO TEACHING CHILDREN IN GRADES 1 - 12. A FULL-TIME PRIVATE SCHOOL, WE COMPLEMENT OUR COMMUNITY'S EDUCATIONAL SYSTEM WITH INNOVATIVE APPROACHES AND PROVEN RESEARCH-BASED TEACHING METHODS TO INDIVIDUALLY ADDRESS THE NEEDS OF STUDENTS FACING LEARNING BARRIERS. DURING THE YEAR ENDED MAY 31, 2022, WE SERVED A TOTAL OF 47 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Martha Megahee Chairman Of | OfficerTrustee | 2 | $0 |
Jane Bowmar Treasurer | OfficerTrustee | 0.25 | $0 |
Richard Malcolm Committee Ch | OfficerTrustee | 1 | $0 |
Anthony Dye Vice Chair | OfficerTrustee | 1 | $0 |
Brent Hatcher Secretary | OfficerTrustee | 0.75 | $0 |
Sonia Rice Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $143,218 |
| All other contributions, gifts, grants, and similar amounts not included above | $118,591 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $261,809 |
| Total Program Service Revenue | $709,579 |
| Investment income | $3,471 |
| 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 | $974,859 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $122,908 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $391,414 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,536 |
| Payroll taxes | $30,443 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,921 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $24,780 |
| Advertising and promotion | $1,485 |
| Office expenses | $33,347 |
| Information technology | $7,160 |
| Royalties | $0 |
| Occupancy | $85,207 |
| Travel | $945 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,266 |
| Insurance | $5,503 |
| All other expenses | $0 |
| Total functional expenses | $770,080 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $555,631 |
| Savings and temporary cash investments | $308,599 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,281 |
| 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 | $1,329 |
| Net Land, buildings, and equipment | $39,669 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $918,509 |
| Accounts payable and accrued expenses | $40,285 |
| Grants payable | $0 |
| Deferred revenue | $14,731 |
| 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 | $0 |
| Total liabilities | $55,016 |
| Net assets without donor restrictions | $752,681 |
| Net assets with donor restrictions | $110,812 |
| 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 | $918,509 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Academy Of Innovation Inc has recieved totaling $239.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $239 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Atlanta International School Inc Atlanta, GA | $81,752,727 | $41,788,500 |
Atlanta Speech School Inc Atlanta, GA | $105,924,715 | $24,977,187 |
Learning Tree Inc Mobile, AL | $13,575,591 | $30,944,121 |
Life St Joseph Of The Pines Inc Fayetteville, NC | $16,318,020 | $24,172,182 |
Currey Ingram Academy Brentwood, TN | $68,664,811 | $19,766,895 |
The Howard School Inc Atlanta, GA | $46,587,964 | $14,630,236 |
Schenck School Inc Atlanta, GA | $49,204,547 | $13,089,821 |
Baconton Parents And Citizens For Better Education Inc Baconton, GA | $6,989,998 | $13,118,266 |
Kings Daughters School Of Maury County Tennessee Columbia, TN | $22,315,744 | $10,828,649 |
The Fletcher School Inc Charlotte, NC | $32,973,110 | $9,343,096 |
Mill Springs Academy Inc Alpharetta, GA | $16,639,612 | $7,597,542 |
Brookhaven Innovation Academy Norcross, GA | $15,037,187 | $6,615,354 |