American Academy of Innovation

Analysis

American Academy of Innovation is a registered charity in United States, based in South Jordan, UT. It received its IRS tax-exemption ruling in July 2016, 10 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, American Academy of Innovation reported income of $5.2m and spending of $4.9m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.5m to $5.2m (+105%), an average of +20% a year. The sharpest change came in the year to June 2020, when income rose by 43%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, American Academy of Innovation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within UT. Charities of a similar size with the same main cause include Jewish Kids Groups Foundation Inc ($5.2m), Soleil Academy Inc ($5.2m) and Hudson Valley Community College Foundation Inc ($5.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 4.8% of the total. Compensation of current officers, directors and key employees was $139k (2.8% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $11.1m against liabilities of $12.7m, net assets of -$1.6m. It reported 68 employees.