INNOVATE ACADEMY & PREPARATORY SCHOOL CORP (EIN 841751848) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2019

Legal Domicile

Principal Officer

SHAUNA PATRICK

Phone

2088594254

Tax Period

2024-07-01 to 2025-06-30

INNOVATE ACADEMY & PREPARATORY SCHOOL CORP, founded in 2019, is a community nonprofit in the Education sector that reported $2.4M in total revenue in fiscal year 2024. Revenue decreased 10% compared to the prior year. Expenses of $2.6M exceeded revenue, resulting in a 11% operating deficit.

Mission

TO OFFER A CHALLENGING AND DIVERSE CURRICULUM IN A TIGHT KNIT CULTURE TO FOSTER A PASSION FOR LEARNING AND EQUIP STUDENTS WITH THE TOOLS NECESSARY TO BECOME SUCCESSFUL, WELL-ROUNDED ADULTS.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $394,142

Program Service Revenue $1,951,360

Investment Income $396

Other Revenue $4,964

TOTAL REVENUE $2,350,862

Expense Breakdown

Grants Paid $34,685

Salaries & Benefits $1,708,339

Fundraising Expenses $17,311

Program Expenses $2,180,477

Other Expenses $871,850

TOTAL EXPENSES $2,614,874

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,350,862	$2,613,225	-0.1%
Expenses	$2,614,874	$3,409,425	-0.2%
Net Income	$-264,012	$-796,200	-0.7%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$93,189

Total Directors

$12,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHAUNA PATRICK	BOARD MEMBER/ACCOUNTING OVERSIGHT	5.00	Officer Director	$12,000	$0	$12,000
ALLY DUMERTON	BOARD MEMBER	7.00	Director	$0	$0	$0
MEGAN STEPHENS	BOARD MEMBER	10.00	Director	$0	$0	$0
APRIL DILLON	BOARD MEMBER	3.00	Director	$0	$0	$0
CAMERON DAHL	BOARD MEMBER	10.00	Director	$0	$0	$0
JOHN ELDRIDGE	BOARD MEMBER/LEADERSHIP COUNCIL	5.00	Director	$0	$0	$0
SHELLEY TSAO	BOARD MEMBER	10.00	Director	$0	$0	$0
GERILYN GILLESPY	HEADMASTER	40.00	Officer	$81,189	$0	$81,189

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	$2,350,862	$2,614,874	$2,373,688	$-264,012
2024	$2,613,225	$3,409,425	$2,571,763	$-796,200
2023	$3,061,252	$3,152,004	$2,980,163	$-90,752
2022	$1,853,476	$1,739,175	$774,238	$114,301
2021	$461,809	$583,966	$439,845	$-122,157
2020	$823,435	$573,117	$321,631	$250,318

INNOVATE ACADEMY & PREPARATORY SCHOOL CORP