HIGHER INSTITUTE OF ARTS AND TECHNOLOGY

EIN: 271619759 501(c)(3) Education

MERRILLVILLE, IN

Total Revenue
$4,056,792
Total Expenses
$3,961,186
Total Assets
$974,849
Net Assets
$-9,088
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2009
Legal Domicile
IN
Principal Officer
SHARLA JOHNSON
Phone
4105983087
Tax Period
2024-07-01 to 2025-06-30

HIGHER INSTITUTE OF ARTS AND TECHNOLOGY, founded in 2009, is a community nonprofit in the Education sector that reported $4.1M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

HIGHER INSTITUTE OF ARTS AND TECHNOLOGY IS A K-6 ARTS-INTEGRATED CHARTER SCHOOL DEDICATED TO TURNING 21ST CENTURY SCHOLARS INTO INNOVATIVE COLLEGE AND CAREER READY WORLD PROBLEM SOLVERS ABLE TO EXUDE STRONG CHARACTER, COMMUNICATE GLOBALLY, COLLABORATE EFFECTIVELY, AND THINK CRITICALLY AND CREATIVELY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $4,002,525
Program Service Revenue $0
Investment Income $5
Other Revenue $54,262
TOTAL REVENUE $4,056,792

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,859,121
Fundraising Expenses $0
Program Expenses $3,270,857
Other Expenses $2,102,065
TOTAL EXPENSES $3,961,186

Year-over-Year Comparison

2024 2023 Change
Revenue $4,056,792 $3,676,529 +0.1%
Expenses $3,961,186 $3,751,469 +0.1%
Net Income $95,606 $-74,940 -2.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
6
Independent Members
6
Employees
60
Volunteers
6

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$54,269
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SHARLA JOHNSON PRESIDENT 4.00
Officer Director
$0 $0 $0
STEPHANIE DAVIS VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
CHARLES REESE JR TREASURER 1.00
Officer Director
$0 $0 $0
GEORGE TUCKER SECRETARY 1.00
Officer Director
$0 $0 $0
APRIL BROWN MEMBER 1.00
Director
$0 $0 $0
BRIDGETT HARRIS MEMBER 1.00
Director
$0 $0 $0
TENSIA JOHNSON PRINCIPAL 40.00
Officer
$53,369 $900 $54,269
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $4,056,792 $3,961,186 $974,849 $95,606
2024 $3,676,529 $3,751,469 $967,231 $-74,940
2023 $3,397,387 $3,560,072 $1,206,677 $-162,685
2022 $3,319,372 $2,986,596 $912,019 $332,776
2021 $2,523,189 $2,317,646 $620,948 $205,543
2020 $2,462,006 $2,456,525 $501,470 $5,481
2019 $1,643,657 $1,674,074 $534,611 $-30,417
2018 $2,025,289 $1,777,584 $721,934 $247,705
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