Innovative Arts Academy Charter School Incorporated

Analysis

Innovative Arts Academy Charter School Incorporated is a registered charity in United States, based in Catasaqua, PA. It received its IRS tax-exemption ruling in March 2018, 8 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, Innovative Arts Academy Charter School Incorporated reported income of $9.6m and spending of $9.0m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.8m to $9.6m (+23%), an average of +5.3% a year. 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, Innovative Arts Academy Charter School Incorporated sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within PA. Charities of a similar size with the same main cause include Maureen Joy Charter School ($9.6m), Los Alamos National Laboratory Foundation ($9.6m) and Green River Regional Education Cooperative Inc ($9.6m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $129k (1.4% of expenses). Other salaries and wages came to $3.5m. At year end it held assets of $20.0m against liabilities of $16.8m, net assets of $3.1m. It reported 87 employees.