Innovate Academy & Preparatory School Corp

Analysis

Innovate Academy & Preparatory School Corp is a registered charity in United States, based in Eagle, ID. It received its IRS tax-exemption ruling in July 2020, 6 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, Innovate Academy & Preparatory School Corp reported income of $3.1m and spending of $3.2m, spending 103% of its income. Across the 4 years on record, from December 2020 to June 2023, income grew from $823k to $3.1m (+272%), an average of +55% a year. The sharpest change came in the year to June 2022, when income rose by 301%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Innovate Academy & Preparatory School Corp sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 92nd percentile within ID. Charities of a similar size with the same main cause include Yeshivah Beth Israel Tifereth Menachem Foundation ($3.1m), Darrell L Hines Academy Inc ($3.1m) and Riverside Gateway to College Early College High School Echs ($3.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $168k (5.3% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $3.0m against liabilities of $2.8m, net assets of $171k. It reported 51 employees.