Civic Intelligence

The Innovation Academy Inc.

990 • Fiscal year 2018 • EIN 46-5120132

Jul 01, 2017 to Jun 30, 2018 • Filed on Dec 29, 2018

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

69th percentile

0.26x

Higher debt load relative to assets than 69% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

54th percentile

0.11x

Higher debt load relative to revenue than 54% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

65th percentile

9.7%

Higher net margin than 65% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

80th percentile

$135,031

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 3.0% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

90th percentile

44%

Faster asset growth than 90% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

62nd percentile

9.6%

Faster revenue growth than 62% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$1,945,934

Up $595,030 (+44%) from 2017

Net Assets

Up

$1,431,415

Up $439,446 (+44%) from 2017

Liabilities

Up

$514,519

Up $155,584 (+43%) from 2017

Revenue

Up

$4,519,119

Up $395,916 (+9.6%) from 2017

Expenses

Up

$4,079,673

Up $678,241 (+20%) from 2017

Net Income

Down

$439,446

Down $282,325 (-39%) from 2017

Historical Trend

Balance Sheet Trend

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

2018

Assets$1,945,934
Liabilities$514,519
Net Assets$1,431,415

Operations Trend

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

2018

Revenue$4,519,119
Expenses$4,079,673
Net Income$439,446
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Dec 29, 2018
Return Version
2017v2.3
Gross Receipts
$4,519,119
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
Cash and Non-Interest-Bearing Accounts$540,566$780,780▲ $240,214
Land, Buildings, and Equipment, Net$470,079$566,712▲ $96,633
Pledges and Grants Receivable$94,669$64,124▼ $30,545
Prepaid Expenses and Deferred Charges-$25,810-
Accounts Receivable-$7,306-
Total Assets$1,350,904$1,945,934▲ $595,030
Other Assets Total$245,590$501,202▲ $255,612
Liabilities
Other Liabilities$203,748$401,866▲ $198,118
Accounts Payable and Accrued Expenses$55,187$112,653▲ $57,466
Unsecured Notes Loans Payable$100,000--
Total Liabilities$358,935$514,519▲ $155,584
Net Assets / Fund Balance
Unrestricted Net Assets$991,969$1,431,415▲ $439,446
Total Net Assets Fund Balance$991,969$1,431,415▲ $439,446
Total Liabilities and Net Assets / Fund Balance$1,350,904$1,945,934▲ $595,030

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$424,193-$424,193
Other Land Buildings$414,081-$414,081
Leasehold Improvements$147,165-$147,165
Other Assets Org$15,267--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Pamela M BrownExecutive DiFT$135,031$135,031
Natalie WilliamsChief FinancFT$101,781$101,781
Effie Jenkins-smithChief AcademFT$31,725$31,725

Board Members and Trustees

NameTitle
Dr Charles IngramBoard Member
Dr William Bill Adkis SrBoard Member
Nicole TaylorBoard Member
Venita Martin AndrewsBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$363,062
Program Service Revenue
$4,156,057
Investment Income
$0
Other Revenue
$0
All Other Contributions
$68,796
Change in Net Assets
$439,446
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,556,798
Other Expenses$1,522,875
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,101,895--$2,101,895
Occupancy$366,724--$366,724
Fees for Services Other$268,791--$268,791
Other Employee Benefits$261,584--$261,584
Depreciation Depletion$184,841--$184,841
Payroll Taxes$161,416--$161,416
Information Technology$131,670--$131,670
Insurance$56,264--$56,264
Pension Plan Contributions$31,903--$31,903
Office Expenses$25,469--$25,469
All Other Expenses$25,295--$25,295
Interest$12,745--$12,745
Other Expenses$11,214--$11,214
Fees for Services Accounting$10,000--$10,000
Travel$2,416--$2,416
Total Functional Expenses$4,079,673$0$0$4,079,673
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
Deferred Inflows - Ntp$242,336
Retirement - 401k$77,027
Deferred Inflows - Tcrs Legacy$66,658
Accrued Leave - Current$35,993
Other Loans Payable$16,091
Deferred Inflows - Tcrs Hybrid$7,819
Retirement Contributions$3,508
Garnishments and Levies$1,351
Net Pension Asset (liability)$-3,229
Net Pension Asset$-45,688
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

AVAILABLE UPON REQUEST.

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
Chief Financial Offi
Phone
9018001209
Signed
2018-12-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Natalie Williams
Formed
2014
Legal Domicile
Tn
Voting Board Members
5
Independent Board Members
5
Employees
61

Preparer

Firm
Alexander Thompson Arnold Pllc
Address
6525 N QUAIL HOLLOW SUITE 500, MEMPHIS, TN 38120
Preparer
Charles E Mclean CPA
Phone
9016841170
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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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt315267
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEFERRED OUTFLOWS - NTP
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DEFERRED OUTFLOWS-TCRS LEGACY
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DEFERRED OUTFLOWS - TCRS HYBRID
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3NET PENSION LIABILITY - TCRS HYBRID
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0414081
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0414081
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0242336
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt177027
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt266658
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt335993
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt416091
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt57819
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt63508
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt71351
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt8-3229
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt9-45688
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED INFLOWS - NTP
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1RETIREMENT - 401K
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DEFERRED INFLOWS - TCRS LEGACY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3ACCRUED LEAVE - CURRENT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4OTHER LOANS PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc5DEFERRED INFLOWS - TCRS HYBRID
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc6RETIREMENT CONTRIBUTIONS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc7GARNISHMENTS AND LEVIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc8NET PENSION ASSET (LIABILITY)
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc9NET PENSION ASSET
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0985439
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0501202
IRS990ScheduleD/TotalLiabilityAmt0401866
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/ExplanationTxt3AVAILABLE UPON REQUEST.
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/TotalAssetsBOYAmt01350904
IRS990/TotalAssetsEOYAmt01945934
IRS990/TotalAssetsGrp/BOYAmt01350904
IRS990/TotalAssetsGrp/EOYAmt01945934
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0363062
IRS990/TotalEmployeeCnt061
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt04079673
IRS990/TotalFunctionalExpensesGrp/TotalAmt04079673
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0358935
IRS990/TotalLiabilitiesEOYAmt0514519
IRS990/TotalLiabilitiesGrp/BOYAmt0358935
IRS990/TotalLiabilitiesGrp/EOYAmt0514519
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0991969
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01431415
IRS990/TotalProgramServiceExpensesAmt04079673
IRS990/TotalProgramServiceRevenueAmt04156057
IRS990/TotalReportableCompFromOrgAmt0268537
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt04156057
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04519119
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01350904
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01945934
IRS990/TravelGrp/ProgramServicesAmt02416
IRS990/TravelGrp/TotalAmt02416
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0991969
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01431415
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0100000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03824 AUSTIN PEAY HWY
IRS990/USAddress/CityNm0MEMPHIS
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd038138
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.GTWACADEMY.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0NATALIE WILLIAMS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHIEF FINANCIAL OFFI
ReturnHeader/BusinessOfficerGrp/PhoneNum09018001209
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-12-29
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/FilingSecurityInformation/AtSubmissionCreationDeviceId057DA44046E02AE91CBE12B1F07D1FCEC562DFDAD
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId057DA44046E02AE91CBE12B1F07D1FCEC562DFDAD
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt069.167.238.8
ReturnHeader/FilingSecurityInformation/IPDt02018-12-31
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm007:55:34
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0621110839
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ALEXANDER THOMPSON ARNOLD PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06525 N QUAIL HOLLOW SUITE 500
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MEMPHIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd038120
ReturnHeader/PreparerPersonGrp/PhoneNum09016841170
ReturnHeader/PreparerPersonGrp/PreparationDt02018-12-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHARLES E MCLEAN CPA
ReturnHeader/ReturnTs02018-12-31T07:55:34-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

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