Innovations Academy

Analysis

Innovations Academy is a registered charity in United States, based in San Diego, CA. It received its IRS tax-exemption ruling in August 2010, 16 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Innovations Academy reported income of $6.2m and spending of $5.6m, spending 89% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.0m to $6.2m (+55%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 25%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Innovations Academy sits at the 91st percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within CA. Charities of a similar size with the same main cause include Bartlett Learning Center Inc ($6.2m), First Presbyterian Academy Inc ($6.2m) and Retirement Planning University Inc ($6.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $275k (4.9% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $5.5m against liabilities of $1.5m, net assets of $4.0m. It reported 92 employees.