Academy of Innovation Inc

Nonprofit profile at a glance

EIN
813180774
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Gainesville, GA, USA
Phone
6785366898
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Specialized Education Institutions

Official website

Reported finances

Revenue
$653,436
Expenses
$832,187
Assets
$588,950
Liabilities
$13,654

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Highest reported compensation

  • CAROL HENDERSON (HEAD OF SCHO): $75,938 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To foster students' emotional, physical, and intellectual growth so that they can succeed not only in academics, but in career settings as well.

What it reported doing in 2024

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, 2023, we served a total of 34 students.

Operating model

Revenue model
Earned-program. 84% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 76% for direct work, and 24% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 94
  • Accountability: 74
  • Sustainability: 25
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 85.2%; rating input score 85
  • Fundraising efficiency: $9.01 raised per $1 spent on fundraising; rating input score 34; 34th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -27.4%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 0.71; rating input score 32; 32nd percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 61; 61st percentile among comparable filings
  • Officer compensation ratio: 9.1%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: 8.3% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: 0.5% per year; rating input score 100; 16th percentile among comparable filings
  • Asset growth: 10.2% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 85.2% of spending went to programs
  • Governance: 8 of 8 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $714K in reported program spending
  • Leadership: top reported pay $76K · 9 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 34/100.
  • High — Sustainability: Operating margin scored 7/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 32/100.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.