Academy of Innovation Inc

Analysis

Academy of Innovation Inc is a registered charity in United States, based in Gainesville, GA. It received its IRS tax-exemption ruling in August 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 May 2024, Academy of Innovation Inc reported income of $676k and spending of $810k, spending 120% of what it took in. Across the 5 years on record, from May 2020 to May 2024, income fell from $709k to $676k (-4.6%), an average of -1.2% a year. The sharpest change came in the year to May 2021, when income rose by 24%. 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, Academy of Innovation Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 78th percentile within GA. Charities of a similar size with the same main cause include Dark Enterprises Inc ($676k), Liberty-Benton Athletic Boosters ($676k) and Nora Stewart Early Learning Center ($676k).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 12% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $71k (8.7% of expenses). Other salaries and wages came to $312k. At year end it held assets of $821k against liabilities of $67k, net assets of $754k. It reported 20 employees.