Innovation Spokane Schools

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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

2013

Legal Domicile

Principal Officer

Sara Kennedy

Phone

5093894848

Tax Period

2024-09-01 to 2025-08-31

Innovation Spokane Schools, founded in 2013, is a community nonprofit in the Education sector that reported $4.3M in total revenue in fiscal year 2024. Revenue fell 47% from the prior year — a significant decline worth monitoring.

Mission

To prepare a diverse range of students for a life of learning in post-secondary education, citizenship, and leadership.

Program Service Accomplishments

Program 1

Expenses: $4,185,191 Revenue: $3,278,464

Operating a public charter school in Spokane, WA

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $760,359

Program Service Revenue $3,278,464

Investment Income $11,365

Other Revenue $242,233

TOTAL REVENUE $4,292,421

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,957,890

Fundraising Expenses $7,382

Program Expenses $4,185,191

Other Expenses $1,470,885

TOTAL EXPENSES $4,428,775

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,292,421	$8,126,739	-0.5%
Expenses	$4,428,775	$7,945,812	-0.4%
Net Income	$-136,354	$180,927	-1.8%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$190,776

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Courtney Lee	Chair	2.00	Officer Director	$0	$0	$0
Ted Zhang	Treasurer	2.00	Officer Director	$0	$0	$0
Karen Boone	Board Member	2.00	Director	$0	$0	$0
Maliek Martin	Board Member	2.00	Director	$0	$0	$0
Keith Stanhill	Board Member	2.00	Director	$0	$0	$0
Paige Banaugh	Executive Director	40.00	Officer	$160,000	$30,776	$190,776
Sara Kennedy	School Leader	40.00	Highest	$121,001	$25,315	$146,316
Michelle Portrey	Special Ed Teacher	40.00	Highest	$120,047	$24,052	$144,099
Brian Via	Administrator	40.00	Highest	$107,277	$23,975	$131,252
Rebecca Clinard	Teacher	40.00	Highest	$105,442	$23,798	$129,240
Christopher Hoyt	Teacher	40.00	Highest	$104,633	$23,713	$128,346

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	$4,292,421	$4,428,775	$7,255,023	$-136,354
2024	$8,126,739	$7,945,812	$10,528,329	$180,927
2023	$9,138,877	$8,618,006	$11,406,543	$520,871
2022	$10,962,169	$8,641,199	$11,567,847	$2,320,970
2021	$8,242,945	$7,509,841	$4,483,995	$733,104
2020	$6,643,041	$7,452,586	$1,902,388	$-809,545
2019	$6,362,317	$5,861,523	$1,988,772	$500,794
2018	$5,224,870	$5,558,991	$745,013	$-334,121