Innovation Academy West

Analysis

Innovation Academy West is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in August 2009, 17 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Innovation Academy West reported income of $2.4m and spending of $1.9m, leaving 23% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.4m to $2.4m (+75%), an average of +15% a year. The sharpest change came in the year to June 2021, when income rose by 41%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Innovation Academy West sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within OH. Charities of a similar size with the same main cause include Colorado Christian Academy ($2.4m), Rockford Promise ($2.4m) and Honeysuckle Student Holdings Inc ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $2.1m against liabilities of $2.4m, net assets of -$282k.