Innovate Academy & Preparatory School Corp
Nonprofit profile at a glance
- EIN
- 841751848
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024
- Location
- Eagle, ID, USA
- Phone
- 2088594254
- Rating
- 83
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Educational Services and Schools - Other
Reported finances
- Revenue
- $2,350,862
- Expenses
- $2,614,874
- Assets
- $2,373,688
- Liabilities
- $3,262,619
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
8 people listed
Highest reported compensation
- GERILYN GILLESPY (HEADMASTER): $81,189 total reported compensation
- SHAUNA PATRICK (BOARD MEMBER/ACCOUNTING OVERSIGHT): $12,000 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 offer a challenging and diverse curriculum in a tight knit culture to foster a passion for learning and equip students with the tools necessary to become successful, well-rounded adults.
What it reported doing in 2024
Education for pre-school through 8th grade.
Operating model
- Revenue model
- Earned-program. 83% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 98% 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
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 expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 86
- Transparency & Controls: 94
- Accountability: 69
- Sustainability: 24
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 92.8%; rating input score 93
- Program expense ratio: 83.4%; rating input score 83
- Fundraising efficiency: $22.77 raised per $1 spent on fundraising; rating input score 63; 63rd 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; 72nd 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: 2 of 8 controls in place; rating input score 25
- 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: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -11.2%; rating input score 12; 12th percentile among comparable filings
- Total-asset coverage ratio: 0.91; rating input score 34; 34th percentile among comparable filings
- Liabilities to assets ratio: 1.37; rating input score 2; 2nd percentile among comparable filings
- Officer compensation ratio: 3.6%; rating input score 65; 65th percentile among comparable filings
Growth
- Program expense growth: 24.8% per year; rating input score 100; 89th percentile among comparable filings
- Revenue growth: 21.9% per year; rating input score 100; 90th percentile among comparable filings
- Asset growth: 31% per year; rating input score 100; 93rd percentile among comparable filings
Details
- Where the money goes: 92.8% of revenue deployed · 83.4% of spending went to programs
- Governance: 5 of 5 board members independent · 2 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $2.2M in reported program spending
- Leadership: top reported pay $81K · 8 people listed
- Consistency: 31 of 31 current checks pass
- Schedules: 8 filed schedules · includes major donors and grants
- Filing history: 5 filing years from 2020 to 2024
- Contacts: How to reach this organization
- Money network: 5 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- 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.
- High — Accountability: Governance controls: 5 of 7 not reported.
- High — Sustainability: Operating margin scored 12/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 34/100.
- High — Sustainability: Liabilities to assets ratio scored 2/100.