Civic Intelligence

Innova Preparatory School

990 • Fiscal year 2023 • EIN 86-1903064

Jan 01, 2023 to Dec 31, 2023 • Filed on Feb 20, 2024

Organization ProfileINNOVAPREP.ORG
PO Box 16716Hattiesburg, MS 39404

(601) 297-1961

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

32nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

37th percentile

-1.3%

Higher net margin than 37% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

28th percentile

-4.2%

Faster asset growth than 28% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

21st percentile

-15%

Faster revenue growth than 21% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Down

$234,939

Down $10,258 (-4.2%) from 2022

Net Assets

Down

$234,939

Down $10,258 (-4.2%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin37th percentile

Revenue

Down

$790,786

Down $134,990 (-15%) from 2022

Expenses

Down

$801,045

Down $121,126 (-13%) from 2022

Net Income

Down

-$10,259

Down $13,864 (-385%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth28th percentile

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

$300K$200K$100K$0Assets 2021: $241,592Liabilities 2021: $0Net Assets 2021: $241,5922021Assets 2022: $245,197Liabilities 2022: $0Net Assets 2022: $245,1972022Assets 2023: $234,939Liabilities 2023: $0Net Assets 2023: $234,9392023Assets 2024: $230,851Liabilities 2024: $0Net Assets 2024: $230,8512024

Highlighted filing

2023

Assets$234,939
Liabilities$0
Net Assets$234,939
Open 2023 Filing

Operations Trend

Revenue Growth21st percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2021: $1,034,679Expenses 2021: $793,087Net Income 2021: $241,5922021Revenue 2022: $925,776Expenses 2022: $922,171Net Income 2022: $3,6052022Revenue 2023: $790,786Expenses 2023: $801,045Net Income 2023: -$10,2592023Revenue 2024: $1,001,047Expenses 2024: $965,135Net Income 2024: $35,9122024

Highlighted filing

2023

Revenue$790,786
Expenses$801,045
Net Income-$10,259
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Feb 20, 2024
Return Version
2023v4.0
Gross Receipts
$790,786
Mission and Program Overview

Mission

To provide a safe, nurturing co-educational learning environment that balances gifted education with remedial education while integrating social, emotional, and behavioral support for upper elementary, middle or high school students who may not fully express personal gifts and talents because of a specific learning disability or related health impairment.

To provide a safe, nurturing co-educational learning environment thatbalances gifted education with remedial education while integrating social,emotional, and behavioral support for upper elementary, middle or highschool students who may not fully express personal gifts and talentsbecause of a specific learning disability or related health impairment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$161,139$152,764▼ $8,375
Cash and Non-Interest-Bearing Accounts$81,559$79,675▼ $1,884
Total Assets$245,198$234,939▼ $10,259
Other Assets Total$2,500$2,500→ $0
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$245,198$234,939▼ $10,259
Total Net Assets Fund Balance$245,198$234,939▼ $10,259
Total Liabilities and Net Assets / Fund Balance$245,198$234,939▼ $10,259

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$152,764$48,541$201,305
Compensation and Service Providers
Top Officer Pay54th percentile

Board Members and Trustees

NameTitle
Steven E Farrell Steven Farrell MdPresident
Wendy FarrellVice President
Andrew KhandjianDirector
Jenny GreenDirector
Amanda LittlejohnSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$93,011
Program Service Revenue
$697,775
Investment Income
$0
Other Revenue
$0
All Other Contributions
$93,011
Change in Net Assets
$-10,259
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$611,952
Other Expenses$189,093
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$549,014--$549,014
Occupancy$63,656--$63,656
Payroll Taxes$41,318--$41,318
Fees for Services Legal$19,556$19,556-$39,112
Depreciation Depletion$30,636--$30,636
Other Employee Benefits$21,620--$21,620
Insurance$7,936$7,937-$15,873
Travel$6,415--$6,415
Advertising$2,902$2,902-$5,804
Office Expenses$1,927--$1,927
Fees for Services Other$659--$659
Other Expenses$226$330-$226
All Other Expenses-$12-$12
Total Functional Expenses$770,308$30,737$0$801,045
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
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, Part VI, Section A, Line 2

“Steven farrell, president and wendy farrell, vice president are husband and wife”

Form 990, Part VI, Section B, Line 11B

“Review by the board members”

Form 990, Part VI, Section C, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Innova Preparatory School
EIN
86-1903064
Phone
6012971961
Address
PO BOX 16716, HATTIESBURG, MS 39404

Signing Officer

Name
Steven E Farrell Md
Title
President
Phone
6012971961
Signed
2024-02-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steven E Farrell Md
Formed
2021
Legal Domicile
Ms
Voting Board Members
5
Independent Board Members
5
Employees
21
Volunteers
0

Preparer

Firm
Tmh
Address
10 PLAZA DR, HATTIESBURG, MS 39402
Preparer
Marcia Wright
Phone
6012683135
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$234,939
Liabilities
$0
Net assets
$234,939
Revenue
$790,786
Expenses
$801,045
Net income
-$10,259
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.23$0.00$0.23$1.00$0.97$0.04
2023Detailed filing. Detailed filing data is available for this year.$0.23$0.00$0.23$0.79$0.80$0.01
2022Detailed filing. Detailed filing data is available for this year.$0.25$0.00$0.25$0.93$0.92$0.00
2021Detailed filing. Detailed filing data is available for this year.$0.24$0.00$0.24$1.03$0.79$0.24