Ignite Achievement Academy Inc

Nonprofit profile at a glance

EIN
813711344
IRS 990 coverage
2017–2023
Forms available
Form 990 2023, Form 990-N 2016
Location
Indianapolis, IN, USA
Phone
3176435430
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$2,410,644
Expenses
$2,771,562
Assets
$751,594
Liabilities
$309,447

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

9 people listed

Highest reported compensation

  • SHY-QUON ELY (HEAD OF SCHOOL): $114,106 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of iaa is to provide the community with an accelerated learning institution that propels scholars academically by utilizing a holistic curriculum built upon cultural and community responsiveness, project-based learning and the leading literacy, socio-emotional, and neuroscientific research; thus providing scholars rich opportunities for enrichment, achievement, and increasing degrees of impact in every field of endeavor.

What it reported doing in 2023

The genius school indy has unique programming that speaks to a holistic approach to education (academics, physical fitness, and socio-emotional well-being). Through our unique programming via martial arts and meditation, children have learned the skill and value of a meditative practice and the benefits of martial arts training and development. While all students at tgs meditate (focused concentration) and learn goal setting and character development principles through the practice and philosophy of martial arts (respect, patience, modesty, honesty, self-control, self-discipline, focus, bully prevention, physical fitness, etc.), we were able to take our students to out-of-state tournaments and national competitions - where many of our students also traveling out of state for the first time earned medals and honorable mentions.

Operating model

Revenue model
Grant-funded. 99% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 90
  • Accountability: 84
  • Sustainability: 17
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.9%; rating input score 94
  • Program expense ratio: 81.7%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -15%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 0.27; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 0.41; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 4.1%; rating input score 59; 59th percentile among comparable filings

Growth

  • Program expense growth: -8.2% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -10.1% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -1% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 93.9% of revenue deployed · 81.7% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $2.3M in reported program spending
  • Leadership: top reported pay $114K · 9 people listed
  • Highest-paid contractors: 1 contractor listed · $102K reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 7 filing years from 2017 to 2023
  • 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.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 10/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.
  • Review — Sustainability: Officer compensation ratio scored 59/100.