Overview
What is The Innovation Academy Inc?
The Innovation Academy Inc, with its operational address in Memphis, Tennessee, is a dedicated nonprofit organization. Their primary mission is to foster opportunities for children and families in the community by designing, implementing, and integrating quality educational experiences, career awareness, and support services. This collaboration aims to promote academic success, family preservation, and community prosperity. The organization, also known as Granville T. Woods Academy of Innovation, employs a team of 71 individuals, working tirelessly to contribute to the growth and well-being of their local population.
Official website here: www.gtwacademy.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, earning it a Two-Star out of Four Star rating.
The Innovation Academy Inc has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and financial health. With a score of 71, the organization shows strengths in governance, including an independent board and robust conflict of interest and whistleblower policies. The solid performance in asset management is reflected in its low liabilities to assets ratio of 27.93%.
However, the program expense ratio of 62.21% suggests there may be concerns regarding how effectively the organization allocates its resources to its programs. While the salaries of key personnel indicate a significant investment in leadership, they could also raise questions about financial prioritization. Overall, while the organization demonstrates good governance and transparency, potential donors may want to explore its program effectiveness further.
This AI summary has been generated from information found on Charity Navigator.
Is The Innovation Academy Inc legitimate?
The Innovation Academy Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Innovation Academy Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $233,023
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,597,227
For more financial information, click here
Official website here: www.gtwacademy.com
What is the mission statement of The Innovation Academy Inc?
The Innovation Academy Inc's mission is centered around creating, enhancing, and sustaining opportunities for children and families. By collaboratively designing, implementing, and integrating quality educational experiences, career awareness, and support services, they aim to foster academic success, family preservation, and community prosperity. This organization is dedicated to empowering individuals, ultimately contributing to their overall well-being and the betterment of the community.
Official website here: www.gtwacademy.com
Who is the CEO of The Innovation Academy Inc?
Venita Martin-Andrews is the Director Of School Finance of The Innovation Academy Inc.
Official website here: www.gtwacademy.com
What is the revenue of The Innovation Academy Inc?
The Innovation Academy Inc's revenue in 2023 was $5,810,336.
Official website here: www.gtwacademy.com
Who are the executives of The Innovation Academy Inc and what are their salaries?
The average compensation at The Innovation Academy Inc during 2023 was $39,863. There are 71 employees and 20 volunteers at The Innovation Academy Inc.
Here are 9 key members and their salaries:
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- Compensation: $137,526
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- Compensation: $24,445
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- Compensation: $71,052
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Official website here: www.gtwacademy.com
Where can I find the form 990 for The Innovation Academy Inc?
The Innovation Academy Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.gtwacademy.com
Learn more at the official website: www.gtwacademy.com
Mission Statement of The Innovation Academy Inc
The Innovation Academy Inc is dedicated to creating, enhancing, and sustaining opportunities for the children and families of a specific city, primarily focusing on Memphis. Through a collaborative approach, this nonprofit organization designs, implements, and integrates quality educational experiences, career awareness, and support services. The ultimate goal is to foster academic success, preserve families, and promote community prosperity. By providing these comprehensive services, The Innovation Academy Inc aims to empower the children and families it serves, contributing to their overall growth and well-being.
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Impact
July, 2024
The Innovation Academy Inc's impact is evident in its dedication to creating, enhancing, and sustaining opportunities for the children and families of Memphis. Through collaborative efforts in designing, implementing, and integrating quality educational experiences, career awareness, and support services, this organization leads to academic success, family preservation, and community prosperity. Their work directly impacts the lives of individuals in Memphis by providing crucial resources and support to foster positive growth and development.
This information is meant to be a general summary of The Innovation Academy Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Program Service Revenue: $7,436
- Gross Receipts: $5,810,336
Assets and Liabilities:
- Total Assets: $4,223,561
- Total Liabilities: $1,263,885
- Net Assets: $2,959,676
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EDUCATION CHARGES
Revenue
$7,436
Organization Details
Founding Year
2014
Phone
(901) 305-3819Principal Officer
Venita Martin-Andrews
Main Address
3824 AUSTIN PEAY HIGHWAY, MEMPHIS, TN, 38128
Website
www.gtwacademy.comNTEE Category
Code: B29 - Education
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