Indiana Math and Science Academy (IMSA) West
Legal name: Indiana Math & Science Academy - Indianapolis Inc
Nonprofit profile at a glance
- EIN
- 205751308
- IRS 990 coverage
- 2015–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Indianapolis, IN, US
- Phone
- (317) 298-0025
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Charter Schools
Reported finances
- Revenue
- $9,132,612
- Expenses
- $8,154,392
- Assets
- $8,598,123
- Liabilities
- $1,128,332
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
10 people listed
Highest reported compensation
- ADAM ATLIHAN (PRINCIPAL): $131,991 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The Mission of our school is to provide a safe and enriching learning environment where the whole student is nurtured and developed. Our teachers and administrators pledge to support the academic and emotional wellbeing of each and every student. Students will leave our school prepared with skills and knowledge that will give them advantages throughout their future educational and life experiences.
What it reported doing in 2024
Our school offered an academic program aimed at providing a comprehensive and nurturing educational environment for students in kindergarten through 8th grade and to foster academic excellence, personal growth, and social development. Through a rigorous curriculum, dedicated educators, and a supportive community, we strive to equip students with essential knowledge, critical thinking skills, and values that will prepare them for success in higher education and in life.clients served: 550 students in grades k-8.duration: provided throughout the academic year, consisting of 30-week sessions.activities: conducted daily lessons and interactive learning activities, resulting in an average 5% improvement in standardized test scores.
Operating model
- Revenue model
- Grant-funded. 84% 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 - The filed numbers largely add up and most voting board members are independent. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 59
- Transparency & Controls: 92
- Accountability: 84
- Sustainability: 57
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 63.9%; rating input score 64
- Program expense ratio: 71.3%; rating input score 71
- Fundraising efficiency: Limited
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: Limited
- 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: 5 of 8 controls in place; rating input score 62
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 10.7%; rating input score 64; 64th percentile among comparable filings
- Total-asset coverage ratio: 1.05; rating input score 39; 39th percentile among comparable filings
- Liabilities to assets ratio: 0.13; rating input score 53; 53rd percentile among comparable filings
- Officer compensation ratio: 1.6%; rating input score 78; 78th percentile among comparable filings
Growth
- Program expense growth: 5.8% per year; rating input score 100; 44th percentile among comparable filings
- Revenue growth: 7.4% per year; rating input score 100; 56th percentile among comparable filings
- Asset growth: 9.3% per year; rating input score 100; 56th percentile among comparable filings
Details
- What they do: 4 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 63.9% of revenue deployed · 71.3% of spending went to programs
- Governance: 8 of 8 board members independent · 5 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $5.8M in reported program spending
- Leadership: top reported pay $132K · 10 people listed
- Consistency: 33 of 33 current checks pass
- Schedules: 6 filed schedules · includes major donors
- Filing history: 10 filing years from 2015 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 1 filed related-organization link
- 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.
- Moderate — Sustainability: Total-asset coverage ratio scored 39/100.
- Review — Sustainability: Liabilities to assets ratio scored 53/100.