IGNITE ACHIEVEMENT ACADEMY INC

EIN: 813711344 501(c)(3) Education

INDIANAPOLIS, IN

Total Revenue
$2,280,538
Total Expenses
$2,987,733
Total Assets
$1,164,812
Net Assets
$1,037,785
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
IN
Principal Officer
SHY-QUON ELY II
Phone
3176435430
Tax Period
2022-07-01 to 2023-06-30

IGNITE ACHIEVEMENT ACADEMY INC, founded in 2016, is a community nonprofit in the Education sector that reported $2.3M in total revenue in fiscal year 2022. Revenue fell 65% from the prior year — a significant decline worth monitoring. Expenses of $3.0M exceeded revenue, resulting in a 31% operating deficit.

Mission

THE MISSION OF IAA IS TO PROVIDE THE COMMUNITY WITH AN ACCELERATED LEARNING INSTITUTION THAT PROPELS SCHOLARS ACADEMICALLY BY UTILIZING A HOLISTIC CURRICULUM BUILT UPON CULTURAL AND COMMUNITY RESPONSIVENESS, PROJECT-BASED LEARNING AND THE LEADING LITERACY, SOCIO-EMOTIONAL, AND NEUROSCIENTIFIC RESEARCH; THUS PROVIDING SCHOLARS RICH OPPORTUNITIES FOR ENRICHMENT, ACHIEVEMENT, AND INCREASING DEGREES OF IMPACT IN EVERY FIELD OF ENDEAVOR.

Program Service Accomplishments

Program 1
Expenses: $2,412,059 Revenue: $20,309

THE GENIUS SCHOOL INDY EDUCATED APPROXIMATELY 120 STUDENTS IN THE 2022-23 SCHOOL YEAR. TGS PERFORMED AT THE TOP 15% OF THE AUTHORIZER'S PORTFOLIO OF SCHOOLS, PARTICULARLY GIVEN SCHOOLS THAT SERVE A...

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THE GENIUS SCHOOL INDY EDUCATED APPROXIMATELY 120 STUDENTS IN THE 2022-23 SCHOOL YEAR. TGS PERFORMED AT THE TOP 15% OF THE AUTHORIZER'S PORTFOLIO OF SCHOOLS, PARTICULARLY GIVEN SCHOOLS THAT SERVE A SIMILARLY SITUATED DEMOGRAPHIC.

Program 2

THE GENIUS SCHOOL INDY HAS UNIQUE PROGRAMMING THAT SPEAKS TO A HOLISTIC APPROACH TO EDUCATION (ACADEMICS, PHYSICAL FITNESS, AND SOCIO-EMOTIONAL WELL-BEING). THROUGH OUR UNIQUE PROGRAMMING VIA MARTIAL...

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THE GENIUS SCHOOL INDY HAS UNIQUE PROGRAMMING THAT SPEAKS TO A HOLISTIC APPROACH TO EDUCATION (ACADEMICS, PHYSICAL FITNESS, AND SOCIO-EMOTIONAL WELL-BEING). THROUGH OUR UNIQUE PROGRAMMING VIA MARTIAL ARTS AND MEDITATION, CHILDREN HAVE LEARNED THE SKILL AND VALUE OF A MEDITATIVE PRACTICE AND THE BENEFITS OF MARTIAL ARTS TRAINING AND DEVELOPMENT. WHILE ALL STUDENTS AT TGS MEDITATE (FOCUSED CONENTRATION) AND LEARN GOAL SETTING AND CHARACTER DEVELOPMENT PRINCIPLES THROUGH THE PRACTICE AND PHILOSOPHY OF MARTIAL ARTS (RESPECT, PATIENCE, MODESTY, HONESTY, SELF-CONTROL, SELF-DISCIPLINE, FOCUS, BULLY PREVENTION, PHYSICAL FITNESS, ETC.), WE WERE ABLE TO TAKE OUR STUDENTS TO OUT-OF-STATE TOURNAMENTS AND NATIONAL COMPETITIONS - WHERE MANY OF OUR STUDENTS ALSO TRAVELING OUT OF STATE FOR THE FIRST TIME EARNED MEDALS AND HONORABLE MENTIONS.

Program 3

COMMUNITY OUTREACH EFFORTS CONTINUE AS WE SERVE MCKINNEY-VENTO FAMILIES THAT ARE EXPERIENCING HOMELESSNESS AS WELL WAS THOSE FAMILIES NOT DESIGNATED MCKINNEY-VENTO, YET ARE STILL IN NEED OF FOOD AND...

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COMMUNITY OUTREACH EFFORTS CONTINUE AS WE SERVE MCKINNEY-VENTO FAMILIES THAT ARE EXPERIENCING HOMELESSNESS AS WELL WAS THOSE FAMILIES NOT DESIGNATED MCKINNEY-VENTO, YET ARE STILL IN NEED OF FOOD AND OTHER RESOURCES. WE ARE PROUD TO PROVIDE FOOD ON A MONTHLY BASIS AND MAKE IMPORTANT CONNECTIONS TO RESOURCES AROUND THE CITY DEPENDING ON NEED. THROUGH THESE EFFORTS, WE WERE ABLE TO SUPPORT OVER HALF OF OUR FAMILIES ENROLLED.

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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 (2022)

Revenue Breakdown

Contributions & Grants $2,258,612
Program Service Revenue $0
Investment Income $1,617
Other Revenue $20,309
TOTAL REVENUE $2,280,538

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,230,616
Fundraising Expenses $0
Program Expenses $2,412,059
Other Expenses $1,757,117
TOTAL EXPENSES $2,987,733

Year-over-Year Comparison

2022 2021 Change
Revenue $2,280,538 $6,453,124 -0.6%
Expenses $2,987,733 $6,445,617 -0.5%
Net Income $-707,195 $7,507 -95.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
7
Independent Members
7
Employees
56
Volunteers
7

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
$140,759
Total Directors
8
$140,759
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SHY-QUON ELY HEAD OF SCHOOL 40.00
Officer Director
$123,758 $17,001 $140,759
ANGELA DABNEY BOARD CHAIR 1.00
Officer Director
$0 $0 $0
DEMETREES HUTCHINS VICE CHAIR 1.00
Officer Director
$0 $0 $0
ALICIA RAMSEY SECRETARY 1.00
Officer Director
$0 $0 $0
MICHAEL WILLIAMS TREASURER 1.00
Officer Director
$0 $0 $0
TODD FINNELL MEMBER 1.00
Director
$0 $0 $0
RAMON MORRISON MEMBER 1.00
Director
$0 $0 $0
KELLEE WESTON MEMBER 1.00
Director
$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 No data No data No data No data
2023 $2,280,538 $2,987,733 $1,164,812 $-707,195
2022 $6,453,124 $6,445,617 $1,870,124 $7,507
2021 $5,705,099 $5,314,047 $1,894,563 $391,052
2020 $5,043,328 $5,006,917 $2,005,276 $36,411
2019 $5,806,469 $4,856,869 $1,468,514 $949,600
2018 $4,926,569 $4,973,343 $637,600 $-46,774
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