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)

4 risk indicators measuring financial stability and operational resilience

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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.

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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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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
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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