Nonprofit · EIN 81-2571338
INNOVATION ARTS ACADEMY INC
Tax-exempt · LEXINGTON, KY 40503
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| August 31, 2025 | 990 | $303,688 | $303,184 | $504 | $38,283 | $6,851 | $31,432 |
| August 31, 2024 | 990 | $262,338 | $258,275 | $4,063 | $36,457 | $5,529 | $30,928 |
| August 31, 2023 | 990 | $205,009 | $216,342 | -$11,333 | $30,656 | $3,791 | $26,865 |
Financial details: 990 for the year ended August 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $303,455
- Investment income
- $0
- Net income from sales of inventory
- -$3,013
- Other revenue
- $233
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $33,500
- Other salaries and wages
- $77,262
- Salaries, compensation and benefits (total)
- $118,521
- Professional fundraising fees
- $0
- Accounting fees
- $4,717
- Occupancy
- $20,302
- Travel
- $9,263
- Program services (functional)
- $216,599
- Management and general (functional)
- $86,585
Balance sheet and other
- Total assets, start of year
- $36,457
- Total assets, end of year
- $38,283
- Total liabilities, end of year
- $6,851
- Net assets, end of year
- $31,432
- Net assets without donor restrictions
- $31,432
- Gross unrelated business income
- -$276
- Gross receipts
- $306,851
- Employees
- 14
- Year formed
- 2016
- State of legal domicile
- KY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended August 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Mary Jo Nelson | Executive Dir. Officer | 30 | $33,500 |
| Angie Fields | Secretary Trustee or director | 5 | $0 |
| Julie Skeeters | Director Trustee or director | 5 | $0 |
| Kelsey Jones | President Trustee or director, Officer | 5 | $0 |
| Erin Wallet | Treasurer Officer | 5 | $0 |
990 for the year ended August 31, 2024: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARY JO NELSON | EXECUTIVE DIRECTOR Trustee or director | 30 | $18,000 |
| ANGIE FIELDS | BOARD MEMBER Trustee or director | 5 | $0 |
| ERIN WALLET | TREASURER Trustee or director | 5 | $0 |
| ERIN SPALDING | BOARD MEMBER Trustee or director | 5 | $0 |
| SARAH MCMAHAN | SECRETARY Officer | 5 | $0 |
| KELLEY NALLI | PRESIDENT Officer | 5 | $0 |
| PAIGE RICE | DIRECTOR Officer | 5 | $0 |
990 for the year ended August 31, 2023: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARY JO NELSON | EXECUTIVE DIRECTOR Trustee or director | 30 | $18,000 |
| ANGIE FIELDS | BOARD MEMBER Trustee or director | 5 | $0 |
| ERIN WALLET | TREASURER Trustee or director | 5 | $0 |
| ERIN SPALDING | BOARD MEMBER Trustee or director | 5 | $0 |
| SARAH MCMAHAN | SECRETARY Officer | 5 | $0 |
| KELLEY NALLI | PRESIDENT Officer | 5 | $0 |
| PAIGE RICE | DIRECTOR Officer | 5 | $0 |
Address and contacts
- Address (IRS master file)
- 326 STRATFORD DR, LEXINGTON, KY 40503-1813
- In care of
- % SADHNA G TRUE
- Principal officer (990 for 2024)
- Mary Joy Nelson
- Signed the 990
- Mary Joy Nelson, Executive Director
- Phone
- (859) 489-2683
- Website
- www.innovationarts.net
- Return prepared by
- R & R CPAS
Mission
SUPPORTING AND DEVELOPING ARTS PROFESSIONALS; AND SHOWCASING THE ARTS IN THE COMMUNITY.
Program accomplishments
- PROVIDING TRAINING IN THE PERFORMING ARTS TO CHILDREN AND PROMOTING PERFORMING ARTS EDUCATION IN PUBLIC AND PRIVATE SCHOOLS FOR CHILDREN IN LEXINGTON, KY AND THE SURROUNDING COMMUNITIES. CLASSES OFFERED INCLUDE MUSICAL THEATRE PERFORMANCE TRAINING WITH ADVANCED ACTING A VARIETY OF DANCE CLASSES. VOCAL TRAINING AND WORKSHOPS IN AUDITION SKILLS ARE ALSO OFFERED. INNOVATION ARTS ACADEMY HAS COLLABORATED WITH THE LOCAL SCHOOLS BY PROVIDING INFORMATION ABOUT CLASSES, WORKSHOPS, HOLDING AUDITIONS AT AREA SCHOOLS AND ASSISTING STUDENTS IN PREPARATION FOR SCHOOL AUDITIONS AND FOR ENTRANCE TO THE SCHOOL FOR THE CREATIVE AND PERFORMING ARTS (SCAPA).Expenses $128,186 · revenue $229,502
- WE SHOWCASE THE TALENTS OF CHILDREN IN LEXINGTON, KY AND THE SURROUNDING COMMUNITIES THROUGH PERFORMANCES AND PARTICIPATION IN COMMUNITY ARTS EVENTS. INNOVATION ARTS ACADEMY PRODUCES MUSICALS, TAKES STUDENTS TO THEATER FESTIVALS AND REGIONAL VOICE FESTIVALS.Expenses $88,413 · revenue $19,018
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in August, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | August 31, 2026 | January 15, 2027 | Not due yet |
| 2024 | August 31, 2025 | January 15, 2026 | 990 on file |
| 2023 | August 31, 2024 | January 15, 2025 | 990 on file |
IRS record
- EIN
- 81-2571338
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2016
- Accounting year ends
- August
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A60)
- Assets (IRS master file)
- $38,283
- Income (IRS master file)
- $306,851
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | August 2025 | $303,688 | $303,184 | $38,283 | XML |
| 990 | August 2024 | $262,338 | $258,275 | $36,457 | XML |
| 990 | August 2023 | $205,009 | $216,342 | $30,656 | XML |
| 990-EZ | August 2022 | – | – | – | IRS |
| 990-EZ | August 2021 | – | – | – | IRS |
| 990-EZ | August 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 81-2571338).
Questions about INNOVATION ARTS ACADEMY INC
- What is the EIN of INNOVATION ARTS ACADEMY INC?
- The employer identification number (EIN) of INNOVATION ARTS ACADEMY INC is 81-2571338.
- Is INNOVATION ARTS ACADEMY INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2016.
- Are donations to INNOVATION ARTS ACADEMY INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does INNOVATION ARTS ACADEMY INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of INNOVATION ARTS ACADEMY INC due?
- The return for tax year 2025 (the year ending August 31, 2026) is due January 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INNOVATION ARTS ACADEMY INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended August 2025.
- Who is the principal officer of INNOVATION ARTS ACADEMY INC?
- The 990 for the year ended August 31, 2025 names Mary Joy Nelson.
- Who are the officers and directors of INNOVATION ARTS ACADEMY INC?
- The 990 for the year ended August 31, 2025 lists 5 people; 1 received compensation from the organization, the highest $33,500 (Mary Jo Nelson, Executive Dir.).
- How much revenue does INNOVATION ARTS ACADEMY INC have?
- On its 990 for the year ended August 31, 2025 it reported revenue of $303,688, expenses of $303,184 and total assets of $38,283 at year end.
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