Civic Intelligence

The Innovation Academy Inc.

990 • Fiscal year 2016 • EIN 46-5120132

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 04, 2017

Organization ProfileWWW.GTWACADEMY.COM
3824 Austin Peay HighwayMemphis, TN 38128

(901) 305-3819

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

85th percentile

0.68x

Higher debt load relative to assets than 85% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

62nd percentile

0.20x

Higher debt load relative to revenue than 62% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

65th percentile

7.8%

Higher net margin than 65% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

72nd percentile

$106,250

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

100th percentile

1467%

Faster asset growth than 100% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

100th percentile

5688%

Faster revenue growth than 100% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets85th percentile

Assets

Up

$834,623

Up $781,365 (+1467%) from 2015

Net Assets

Up

$270,198

Up $226,940 (+525%) from 2015

Liabilities

Up

$564,425

Up $554,425 (+5544%) from 2015

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin65th percentile

Revenue

Up

$2,894,145

Up $2,844,145 (+5688%) from 2015

Expenses

Up

$2,667,205

Up $2,596,960 (+3697%) from 2015

Net Income

Up

$226,940

Up $247,185 (+1221%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth100th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2015: $53,258Liabilities 2015: $10,000Net Assets 2015: $43,2582015Assets 2016: $834,623Liabilities 2016: $564,425Net Assets 2016: $270,1982016Assets 2017: $1,350,904Liabilities 2017: $358,935Net Assets 2017: $991,9692017Assets 2018: $1,945,934Liabilities 2018: $514,519Net Assets 2018: $1,431,4152018Assets 2019: $1,831,900Liabilities 2019: $451,770Net Assets 2019: $1,380,1302019Assets 2020: $1,954,909Liabilities 2020: $1,017,743Net Assets 2020: $937,1662020Assets 2021: $1,937,490Liabilities 2021: $338,873Net Assets 2021: $1,598,6172021Assets 2022: $3,617,030Liabilities 2022: $1,325,104Net Assets 2022: $2,291,9262022Assets 2023: $4,223,561Liabilities 2023: $1,263,885Net Assets 2023: $2,959,6762023Assets 2024: $4,660,203Liabilities 2024: $882,241Net Assets 2024: $3,777,9622024Assets 2025: $5,194,220Liabilities 2025: $1,067,606Net Assets 2025: $4,126,6142025

Highlighted filing

2016

Assets$834,623
Liabilities$564,425
Net Assets$270,198
Open 2016 Filing

Operations Trend

Revenue Growth100th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2015: $50,000Expenses 2015: $70,245Net Income 2015: -$20,2452015Revenue 2016: $2,894,145Expenses 2016: $2,667,205Net Income 2016: $226,9402016Revenue 2017: $4,123,203Expenses 2017: $3,401,432Net Income 2017: $721,7712017Revenue 2018: $4,519,119Expenses 2018: $4,079,673Net Income 2018: $439,4462018Revenue 2019: $4,314,038Expenses 2019: $4,365,331Net Income 2019: -$51,2932019Revenue 2020: $4,355,623Expenses 2020: $4,798,587Net Income 2020: -$442,9642020Revenue 2021: $5,143,753Expenses 2021: $4,482,304Net Income 2021: $661,4492021Revenue 2022: $5,375,258Expenses 2022: $4,664,213Net Income 2022: $711,0452022Revenue 2023: $5,810,336Expenses 2023: $5,142,587Net Income 2023: $667,7492023Revenue 2024: $6,871,705Expenses 2024: $6,023,343Net Income 2024: $848,3622024Revenue 2025: $5,584,595Expenses 2025: $5,235,944Net Income 2025: $348,6512025

Highlighted filing

2016

Revenue$2,894,145
Expenses$2,667,205
Net Income$226,940
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 4, 2017
Return Version
2015v3.0
Gross Receipts
$2,894,145
Mission and Program Overview

Mission

To create, enhance and sustain opportunities for the children and families of memphis through the collaborative design, implementation, and integration of quality educational experiences, career awareness and support services that lead to academic success, family preservation, and community prosperity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$35,723$462,233▲ $426,510
Investments in Publicly Traded Securities-$153,613-
Pledges and Grants Receivable-$116,802-
Cash and Non-Interest-Bearing Accounts$17,535$100,396▲ $82,861
Prepaid Expenses and Deferred Charges-$795-
Accounts Receivable-$784-
Total Assets$53,258$834,623▲ $781,365
Liabilities
Accounts Payable and Accrued Expenses-$388,693-
Other Liabilities-$175,732-
Unsecured Notes Loans Payable$10,000--
Total Liabilities$10,000$564,425▲ $554,425
Net Assets / Fund Balance
Unrestricted Net Assets$43,258$270,198▲ $226,940
Total Net Assets Fund Balance$43,258$270,198▲ $226,940
Total Liabilities and Net Assets / Fund Balance$53,258$834,623▲ $781,365

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$262,598$52,268$314,866
Equipment$174,090$40,224$214,314
Leasehold Improvements$25,545$2,840$28,385
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleBaseOtherTotal
Natalie WilliamsCOO$96,250$10,000$106,250

Board Members and Trustees

NameTitle
Carlton OrangeChairman of
Dr William Bill Adkis SrAdvisor Comm
Rhonda Wilkins FerfusonAdvisor Coun
Kevin a JonesAdvisor Fina
Dr Lucretia MurphyAdvisor Gove
Dr Charles IngramAdvisor Scho
Venita Martin AndrewsAdvisor, Leg
Cassandra GomesParent
Dr Jada Jumper GravesParrent
Walter HenrySecretary of
John PrinceTreasurer of
Revenue and Support

Revenue Composition

Contributions and Grants
$156,113
Program Service Revenue
$2,693,903
Investment Income
$0
Other Revenue
$44,129
All Other Contributions
$1,711
Change in Net Assets
$226,940
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,891,600
Other Expenses$775,605
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,528,884--$1,528,884
All Other Expenses$233,030--$233,030
Payroll Taxes$142,442--$142,442
Other Employee Benefits$111,125--$111,125
Current Officers, Directors, Trustees, and Key Employees$106,250--$106,250
Depreciation Depletion$95,332--$95,332
Occupancy$81,654--$81,654
Information Technology$50,421--$50,421
Other Expenses$40,083--$40,083
Interest$14,199--$14,199
Office Expenses$7,445--$7,445
Fees for Services Legal$5,920--$5,920
Fees for Services Accounting$3,806--$3,806
Pension Plan Contributions$2,899--$2,899
Travel$280--$280
Total Functional Expenses$2,667,205$0$0$2,667,205
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Retirement Contributions$175,732
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
The Innovation Academy Inc
EIN
46-5120132
Address
3824 AUSTIN PEAY HIGHWAY, MEMPHIS, TN 38128
Doing Business As
Granville T Woods Academy of Innov

Signing Officer

Name
Natalie Williams
Title
COO
Phone
9018001209
Signed
2017-02-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Natalie Williams
Formed
2014
Legal Domicile
Tn
Voting Board Members
11
Independent Board Members
11
Employees
42

Preparer

Firm
Mclean & Associates Pllc
Address
3211 KIRBY WHITTEN PKWY, BARTLETT, TN 38134-2845
Preparer
Charles E Mclean CPA
Phone
9013470352
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To create, enhance and sustain opportunities for the children and families of memphis through the collaborative design, implementation, and integration of quality educational experiences, career awareness and support services that lead to academic success, family preservation, and community prosperity.”

Form 990, Page 2, Part III, Line 4D

“To create, enhance and sustain opportunities for the children and families of memphis through the collaborative design, implementation, and integration of quality educational experiences, career awareness and support services that lead to academic success, family preservation, and community prosperity.”

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IRS990/ProgSrvcAccomActyOtherGrp/Desc0TO CREATE, ENHANCE AND SUSTAIN OPPORTUNITIES FOR THE CHILDREN AND FAMILIES OF MEMPHIS THROUGH THE COLLABORATIVE DESIGN, IMPLEMENTATION, AND INTEGRATION OF QUALITY EDUCATIONAL EXPERIENCES, CAREER AWARENESS AND SUPPORT SERVICES THAT LEAD TO ACADEMIC SUCCESS, FAMILY PRESERVATION, AND COMMUNITY PROSPERITY.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt02667205
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt050000
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt070245
IRS990/PYRevenuesLessExpensesAmt0-20245
IRS990/PYTotalExpensesAmt070245
IRS990/PYTotalRevenueAmt050000
IRS990/ReconcilationRevenueExpnssAmt0226940
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt0174090
IRS990ScheduleD/EquipmentGrp/DepreciationAmt040224
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0214314
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt025545
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt02840
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt028385
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0262598
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt052268
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0314866
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0175732
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0RETIREMENT CONTRIBUTIONS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0462233
IRS990ScheduleD/TotalLiabilityAmt0175732
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO CREATE, ENHANCE AND SUSTAIN OPPORTUNITIES FOR THE CHILDREN AND FAMILIES OF MEMPHIS THROUGH THE COLLABORATIVE DESIGN, IMPLEMENTATION, AND INTEGRATION OF QUALITY EDUCATIONAL EXPERIENCES, CAREER AWARENESS AND SUPPORT SERVICES THAT LEAD TO ACADEMIC SUCCESS, FAMILY PRESERVATION, AND COMMUNITY PROSPERITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TO CREATE, ENHANCE AND SUSTAIN OPPORTUNITIES FOR THE CHILDREN AND FAMILIES OF MEMPHIS THROUGH THE COLLABORATIVE DESIGN, IMPLEMENTATION, AND INTEGRATION OF QUALITY EDUCATIONAL EXPERIENCES, CAREER AWARENESS AND SUPPORT SERVICES THAT LEAD TO ACADEMIC SUCCESS, FAMILY PRESERVATION, AND COMMUNITY PROSPERITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt053258
IRS990/TotalAssetsEOYAmt0834623
IRS990/TotalAssetsGrp/BOYAmt053258
IRS990/TotalAssetsGrp/EOYAmt0834623
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0156113
IRS990/TotalEmployeeCnt042
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02667205
IRS990/TotalFunctionalExpensesGrp/TotalAmt02667205
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010000
IRS990/TotalLiabilitiesEOYAmt0564425
IRS990/TotalLiabilitiesGrp/BOYAmt010000
IRS990/TotalLiabilitiesGrp/EOYAmt0564425
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt043258
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0270198
IRS990/TotalOtherCompensationAmt010000
IRS990/TotalOtherProgSrvcExpenseAmt02667205
IRS990/TotalProgramServiceExpensesAmt02667205
IRS990/TotalProgramServiceRevenueAmt02693903
IRS990/TotalReportableCompFromOrgAmt096250
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02738032
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02894145
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt053258
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0834623
IRS990/TravelGrp/ProgramServicesAmt0280
IRS990/TravelGrp/TotalAmt0280
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt043258
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0270198
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt010000
IRS990/USAddress/AddressLine1Txt03824 AUSTIN PEAY HWY
IRS990/USAddress/CityNm0MEMPHIS
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd038138
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.GTWACADEMY.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0NATALIE WILLIAMS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0COO
ReturnHeader/BusinessOfficerGrp/PhoneNum09018001209
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE INNOVATION ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0INNO
ReturnHeader/Filer/EIN0465120132
ReturnHeader/Filer/USAddress/AddressLine1Txt03824 AUSTIN PEAY HIGHWAY
ReturnHeader/Filer/USAddress/CityNm0MEMPHIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd038128
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0453690541
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MCLEAN & ASSOCIATES PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03211 KIRBY WHITTEN PKWY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BARTLETT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0381342845
ReturnHeader/PreparerPersonGrp/PhoneNum09013470352
ReturnHeader/PreparerPersonGrp/PreparationDt02017-02-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHARLES E MCLEAN CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02017-02-08T08:00:12-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$834,623
Liabilities
$564,425
Net assets
$270,198
Revenue
$2,894,145
Expenses
$2,667,205
Net income
$226,940
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$5.19$1.07$4.13$5.58$5.24$0.35
2024Detailed filing. Detailed filing data is available for this year.$4.66$0.88$3.78$6.87$6.02$0.85
2023Detailed filing. Detailed filing data is available for this year.$4.22$1.26$2.96$5.81$5.14$0.67
2022Detailed filing. Detailed filing data is available for this year.$3.62$1.33$2.29$5.38$4.66$0.71
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.94$0.34$1.60$5.14$4.48$0.66
2020Detailed filing. Detailed filing data is available for this year.$1.95$1.02$0.94$4.36$4.80$0.44
2019Summary only. Only limited summary data is available for this year.$1.83$0.45$1.38$4.31$4.37$0.05
2018Detailed filing. Detailed filing data is available for this year.$1.95$0.51$1.43$4.52$4.08$0.44
2017Detailed filing. Detailed filing data is available for this year.$1.35$0.36$0.99$4.12$3.40$0.72
2016Detailed filing. Detailed filing data is available for this year.$0.83$0.56$0.27$2.89$2.67$0.23
2015Summary only. Only limited summary data is available for this year.$0.05$0.01$0.04$0.05$0.07$0.02