INNOVATION ARTS ACADEMY INC (EIN 812571338) - Form 990 Financial Analysis & Trantor Score

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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

2016

Legal Domicile

Principal Officer

MARY JOY NELSON

Phone

8594892683

Tax Period

2023-09-01 to 2024-08-31

INNOVATION ARTS ACADEMY INC, founded in 2016, is a small nonprofit in the Arts, Culture & Humanities sector that reported $262K in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum.

Mission

INNOVATION ARTS ACADEMY NURTURES THE CREATIVE SPIRIT IN CHILDREN BYPROVIDING HIGH QUALITY PERFORMING ARTS TRAINING;ENCOURAGING THE DEVELOPMENT OF INDIVIDUAL EXPRESSION, LEADERSHIP CAPACITY, TEAMWORK, AND DYNAMIC COMMUNICATION SKILLS;SUPPORTING AND DEVELOPING ARTS PROFESSIONALS; ANDSHOWCASING THE ARTS IN THE COMMUNITY.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $262,338

Investment Income $0

Other Revenue $0

TOTAL REVENUE $262,338

Expense Breakdown

Grants Paid $0

Salaries & Benefits $104,245

Fundraising Expenses $0

Program Expenses $159,753

Other Expenses $154,030

TOTAL EXPENSES $258,275

Year-over-Year Comparison

	2023	2022	Change
Revenue	$262,338	$205,009	+0.3%
Expenses	$258,275	$216,342	+0.2%
Net Income	$4,063	$-11,333	-1.4%

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

N/A

Volunteers

N/A

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

Total Directors

$18,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARY JO NELSON	EXECUTIVE DIRECTOR	30.00	Director	$18,000	$0	$18,000
ANGIE FIELDS	BOARD MEMBER	5.00	Director	$0	$0	$0
ERIN WALLET	TREASURER	5.00	Director	$0	$0	$0
ERIN SPALDING	BOARD MEMBER	5.00	Director	$0	$0	$0
SARAH MCMAHAN	SECRETARY	5.00	Officer	$0	$0	$0
KELLEY NALLI	PRESIDENT	5.00	Officer	$0	$0	$0
PAIGE RICE	DIRECTOR	5.00	Officer	$0	$0	$0

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
2024	$262,338	$258,275	$36,457	$4,063
2023	$205,009	$216,342	$30,656	$-11,333

INNOVATION ARTS ACADEMY INC