Liabilities / Assets
74th percentile
Higher debt load relative to assets than 74% of similar nonprofits.
Imagine Foundation Inc.
990 • Fiscal year 2014 • EIN 20-2336717
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.61x
Liabilities / Revenue
97th percentile
Higher debt load relative to revenue than 97% of similar nonprofits.
Net Margin
3rd percentile
Higher net margin than 3% of similar nonprofits.
Top Officer Pay
21st percentile
Higher top officer pay than 21% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
13th percentile
Faster asset growth than 13% of similar nonprofits.
Revenue Growth
11th percentile
Faster revenue growth than 11% of similar nonprofits.
Balance Sheet
Assets
Down$5,420,263
Down $416,341 (-7.1%) from 2013
Net Assets
Down$2,110,840
Down $292,616 (-12%) from 2013
Liabilities
Down$3,309,423
Down $123,725 (-3.6%) from 2013
Revenue And Expenses
Revenue
Down$441,478
Down $43,521 (-9.0%) from 2013
Expenses
Up$734,094
Up $103,406 (+16%) from 2013
Net Income
Down-$292,616
Down $146,927 (-101%) from 2013
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2013 to Jun 30, 2014
- Signed
- Mar 25, 2015
- Return Version
- 2013v4.0
- Gross Receipts
- $441,478
Mission and Program Overview
Mission
Imagine foundation accumulates and raises funds for the establishment and maintenance of schools for children with autism and other disabilities, to involve parents of children with disabilities as participants, and to provide information and materials to the public relating to schools and programs developed by imagine academy.
To support schools helping children, and their families, with autism & other disabilities.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $5,152,977 | $4,977,469 | ▼ $175,508 |
| Pledges and Grants Receivable | $614,484 | $423,984 | ▼ $190,500 |
| Loans From Officers Directors | $345,000 | $345,000 | → $0 |
| Cash and Non-Interest-Bearing Accounts | $51,926 | $9,728 | ▼ $42,198 |
| Prepaid Expenses and Deferred Charges | $7,500 | - | - |
| Total Assets | $5,836,604 | $5,420,263 | ▼ $416,341 |
| Other Assets Total | $9,717 | $9,082 | ▼ $635 |
| Liabilities | |||
| Mortgage Notes Payable Secured by Investment Property | $2,850,564 | $2,755,278 | ▼ $95,286 |
| Unsecured Notes Loans Payable | $192,385 | $170,094 | ▼ $22,291 |
| Accounts Payable and Accrued Expenses | $45,199 | $39,051 | ▼ $6,148 |
| Total Liabilities | $3,433,148 | $3,309,423 | ▼ $123,725 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $2,403,456 | $2,110,840 | ▼ $292,616 |
| Total Net Assets Fund Balance | $2,403,456 | $2,110,840 | ▼ $292,616 |
| Total Liabilities and Net Assets / Fund Balance | $5,836,604 | $5,420,263 | ▼ $416,341 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $4,622,469 | $626,698 | $5,249,167 |
| Land | $355,000 | - | $355,000 |
| Other Land Buildings | $0 | - | - |
| Equipment | $0 | - | - |
| Leasehold Improvements | $0 | - | - |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| David Jemal | President |
| Heather Deutsch | President of Ladies Aux. |
| Jeffrey Deutsch | Vice President |
| Marvin Dweck | Vice President |
| Rebecca Harary | Vice President |
| Wendy Jemal | Vice President |
| Susie Dweck | Assistant Secretary |
| Joseph M Harary | Assistant Treasurer |
| Jane Sutton | Secretary |
| Sam G Sutton | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $441,478
- Program Service Revenue
- $0
- Investment Income
- $0
- Other Revenue
- $0
- All Other Contributions
- $255,903
- Change in Net Assets
- $-292,616
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $441,478
- Revenue Not Reported on Financial Statements
- $0
- Revenue Not Reported on Form 990
- $2,024,250
- Total Revenue per Audited Statements
- $2,465,728
- Total Revenue per Form 990
- $441,478
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $447,056 |
| Grants and Similar Amounts Paid | $233,406 |
| Total Fundraising Expense | $125,708 |
| Salaries, Compensation, and Employee Benefits | $53,632 |
| Professional Fundraising Fees | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $233,406 | - | - | $233,406 |
| Depreciation Depletion | $168,985 | $7,042 | - | $176,027 |
| Interest | $102,985 | $5,628 | $12,546 | $121,159 |
| Office Expenses | $10,910 | $5,111 | $47,848 | $63,869 |
| Other Expenses | - | $60,000 | - | $60,000 |
| Other Salaries and Wages | - | - | $48,706 | $48,706 |
| Occupancy | - | - | $9,712 | $9,712 |
| Fees for Services Accounting | - | $8,000 | - | $8,000 |
| All Other Expenses | $4,425 | $1,770 | $150 | $6,345 |
| Payroll Taxes | - | - | $4,926 | $4,926 |
| Advertising | - | - | $1,820 | $1,820 |
| Fees for Services Legal | - | $124 | - | $124 |
| Total Functional Expenses | $520,711 | $87,675 | $125,708 | $734,094 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $2,464,540 |
| Expenses Not Reported on Form 990 | $1,963,852 |
| Total Expenses per Form 990 | $734,094 |
| Expenses per Audited Statements | $500,688 |
| Expenses Not Reported on Financial Statements | $233,406 |
| Other Expense Adjustments | $233,406 |
International Activity
Grant and Assistance Recipients
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| 71-0989980 | - | 501(c)(3) | Education of Children With Autism and Other Disabilities. | $233,406 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Insider Transactions and Loans
Loans and Receivables
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Loans from Officers, Directors, Trustees, and Key Employees | $345,000 | $345,000 | → $0 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- Business relationship with family members
- No
- Business relationship with organization members
- No
- Material changes to governing documents
- No
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- No
- Other officer compensation reviewed
- No
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- Yes
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Section A, Line 2
“The following individuals have a family relationship: a) david j. Jamel and wendy jamel b) joseph m. Harary and rebecca harary c) jeffrey deutsch and heather deutsch d) marvin dweck and susie dweck e) sam sutton and jane sutton”
Form 990, Part VI, Section B, Line 11
“The 990 was emailed to the board for review prior to submission to the irs.”
Form 990, Part VI, Section B, Line 12C
“A conflict of interest attestation is signed annually by the directors and executive staff and is monitored by the board. Upon disclosure of a financial interest and all material facts, the interested person shall leave the board meeting while the remaining board members determine by means of a vote if a conflict of interest exists. The interested person can make a presentation to the board but subsequently, he/she shall leave the meeting during the determination if a conflict of interest does indeed exist. The chairperson of the board shall appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the board shall determine whether the foundation can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If an arrangement cannot reasonably be made with an entity without a conflict then the board shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the best interest of the foundation. If the board has a reasonable cause to believe that a director, officer or member of the executive staff has failed to disclose an actual or possible conflict of interest, it shall inform the individual of the basis for such belief and afford an opportunity to explain the alleged failure to disclose. If, after hearing the response and after making further investigation as warranted by the circumstances, the board determines that an individual who is subjected to this policy has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”
Form 990, Part VI, Section C, Line 19
“The governing documents and financials statements are maintained at the organization's offices and are available upon request. The 990 is available at the organization's office.”
Filing and Contact Details
Filer
- EIN
- 20-2336717
- Phone
- 7183768882
Signing Officer
- Name
- David Jemal
- Title
- President
- Phone
- 7183768882
- Signed
- 2015-03-25
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- David Jemal
- Formed
- 2005
- Legal Domicile
- Ny
- Voting Board Members
- 10
- Independent Board Members
- 7
- Employees
- 2
- Volunteers
- 10
Preparer
- Preparer
- Israel Tannenbaum
- Phone
- 2128674000
Supplemental Narrative
Additional Explanations
FORM 990, PART XII, LINE 2C:
“The process has not changed from the prior year.”
Financial Statement Notes
PART X, LINE 2:
“The school has determined that there are no material uncertain tax positions that require recognition or disclosure in the financial statements. Periods ending june 30, 2011 and subsequent remain subject to examination by applicable taxing authorities.”
PART XI, LINE 2D - OTHER ADJUSTMENTS:
“Revenues of related entity 2,024,250.”
PART XII, LINE 2D - OTHER ADJUSTMENTS:
“Expenses of related entity 1,963,852.”
PART XII, LINE 4B - OTHER ADJUSTMENTS:
“Transfer to related organization 233,406.”
Raw XML AppendixShowing 400 of 503 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/Desc | 0 | RAISED FUNDS FOR THE MAINTENANCE AND DAY-TO-DAY ACTIVITIES OF IMAGINE ACADEMY CORPORATION, A DAY SCHOOL DEDICATED TO PROVIDING SPECIAL EDUCATION FOR CHILDREN WITH AUTISM AND OTHER DISABILITIES. |
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| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 5604167 |
| IRS990/LegalDomicileStateCd | 0 | NY |
| IRS990/LoanOutstandingInd | 0 | 1 |
| IRS990/LoansFromOfficersDirectorsGrp/BOYAmt | 0 | 345000 |
| IRS990/LoansFromOfficersDirectorsGrp/EOYAmt | 0 | 345000 |
| IRS990/LobbyingActivitiesInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 0 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | SEE SCHEDULE OIMAGINE FOUNDATION ACCUMULATES AND RAISES FUNDS FOR THE ESTABLISHMENT AND MAINTENANCE OF SCHOOLS FOR CHILDREN WITH AUTISM AND OTHER DISABILITIES; TO INVOLVE PARENTS OF CHILDREN WITH DISABILITIES AS PARTICIPANTS; TO PROVIDE INFORMATION AND MATERIALS TO THE PUBLIC RELATING TO SCHOOLS AND PROGRAMS DEVELOPED BY IMAGINE ACADEMY. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt | 0 | 2850564 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt | 0 | 2755278 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 2403456 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 2110840 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NoListedPersonsCompensatedInd | 0 | X |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/FundraisingAmt | 0 | 9712 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 9712 |
| IRS990/OfficeExpensesGrp/FundraisingAmt | 0 | 47848 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 5111 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 10910 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 63869 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 9717 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 9082 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherExpensesGrp/Desc | 0 | BAD DEBTS |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 60000 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 60000 |
| IRS990/OtherSalariesAndWagesGrp/FundraisingAmt | 0 | 48706 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 48706 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/FundraisingAmt | 0 | 4926 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 4926 |
| IRS990/PledgesAndGrantsReceivableGrp/BOYAmt | 0 | 614484 |
| IRS990/PledgesAndGrantsReceivableGrp/EOYAmt | 0 | 423984 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 7500 |
| IRS990/PrincipalOfficerNm | 0 | DAVID JEMAL |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 484999 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 233610 |
| IRS990/PYInvestmentIncomeAmt | 0 | 0 |
| IRS990/PYOtherExpensesAmt | 0 | 343062 |
| IRS990/PYOtherRevenueAmt | 0 | 0 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 0 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -145689 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 54016 |
| IRS990/PYTotalExpensesAmt | 0 | 630688 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 484999 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -292616 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 0 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt | 0 | 441478 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt | 0 | 484999 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 899287 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 1344039 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 1602497 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt | 0 | 4772300 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 120 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 48 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt | 0 | 168 |
| IRS990ScheduleA/PublicOrganization170Ind | 0 | X |
| IRS990ScheduleA/PublicSupportCY170Pct | 0 | 0.99630 |
| IRS990ScheduleA/PublicSupportPY170Pct | 0 | 0.99780 |
| IRS990ScheduleA/PublicSupportTotal170Amt | 0 | 4754985 |
| IRS990ScheduleA/SubstantialContributorsTotAmt | 0 | 17315 |
| IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind | 0 | X |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt | 0 | 441478 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt | 0 | 484999 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 899287 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 1344039 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 1602497 |
| IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt | 0 | 4772300 |
| IRS990ScheduleA/TotalSupportAmt | 0 | 4772468 |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | 1 |
| IRS990ScheduleD/BuildingsGrp/BookValueAmt | 0 | 4622469 |
| IRS990ScheduleD/BuildingsGrp/DepreciationAmt | 0 | 626698 |
| IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 5249167 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 1963852 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 233406 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 500688 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/LandGrp/BookValueAmt | 0 | 355000 |
| IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt | 0 | 355000 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt | 0 | 0 |
| IRS990ScheduleD/OtherExpensesIncludedAmt | 0 | 1963852 |
| IRS990ScheduleD/OtherExpensesNotIncludedAmt | 0 | 233406 |
| IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt | 0 | 0 |
| IRS990ScheduleD/OtherRevenueAmt | 0 | 2024250 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 2024250 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 441478 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | THE SCHOOL HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PERIODS ENDING JUNE 30, 2011 AND SUBSEQUENT REMAIN SUBJECT TO EXAMINATION BY APPLICABLE TAXING AUTHORITIES. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | REVENUES OF RELATED ENTITY 2,024,250. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 2 | EXPENSES OF RELATED ENTITY 1,963,852. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 3 | TRANSFER TO RELATED ORGANIZATION 233,406. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART X, LINE 2: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | PART XI, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | PART XII, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | PART XII, LINE 4B - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 4977469 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 734094 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 441478 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 2465728 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 2464540 |
| IRS990ScheduleI/GrantRecordsMaintainedInd | 0 | 1 |
| IRS990ScheduleI/RecipientTable/CashGrantAmt | 0 | 233406 |
| IRS990ScheduleI/RecipientTable/IRCSectionDesc | 0 | 501(C)(3) |
| IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt | 0 | EDUCATION OF CHILDREN WITH AUTISM AND OTHER DISABILITIES. |
| IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1 | 0 | IMAGINE ACADEMY CORPORATION |
| IRS990ScheduleI/RecipientTable/RecipientEIN | 0 | 710989980 |
| IRS990ScheduleI/RecipientTable/USAddress/AddressLine1 | 0 | 1458 EAST 14TH STREET |
| IRS990ScheduleI/RecipientTable/USAddress/City | 0 | BROOKLYN |
| IRS990ScheduleI/RecipientTable/USAddress/State | 0 | NY |
| IRS990ScheduleI/RecipientTable/USAddress/ZIPCode | 0 | 11230 |
| IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt | 0 | IMAGINE FOUNDATION MAINTAINS LEDGERS CONSISTING OF IMAGINE ACADEMY CORPORATION'S EXPENSES AND APPROVALS. GRANTS ARE TO SUPPORT THE ACADEMY, A RELATED ORGANIZATION. |
| IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART I, LINE 2: |
| IRS990ScheduleI/Total501c3OrgCnt | 0 | 1 |
| IRS990ScheduleI/TotalOtherOrgCnt | 0 | 0 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt | 0 | 165000 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt | 1 | 140000 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt | 2 | 40000 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd | 0 | 1 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd | 1 | 1 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd | 2 | 1 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd | 0 | 0 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd | 1 | 0 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd | 2 | 0 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt | 0 | OPERATING |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt | 1 | OPERATING |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt | 2 | OPERATING |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd | 0 | X |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd | 1 | X |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd | 2 | X |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt | 0 | 240000 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt | 1 | 190000 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt | 2 | 40000 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm | 0 | DAVID JEMAL |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm | 1 | SAM SUTTON |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm | 2 | JEFFERY DEUTSCH |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt | 0 | BOARD MEMBER |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt | 1 | BOARD MEMBER |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt | 2 | BOARD MEMBER |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd | 0 | 1 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd | 1 | 1 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd | 2 | 1 |
| IRS990ScheduleL/TotalBalanceDueAmt | 0 | 345000 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | THE FOLLOWING INDIVIDUALS HAVE A FAMILY RELATIONSHIP: A) DAVID J. JAMEL AND WENDY JAMEL B) JOSEPH M. HARARY AND REBECCA HARARY C) JEFFREY DEUTSCH AND HEATHER DEUTSCH D) MARVIN DWECK AND SUSIE DWECK E) SAM SUTTON AND JANE SUTTON |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | THE 990 WAS EMAILED TO THE BOARD FOR REVIEW PRIOR TO SUBMISSION TO THE IRS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | A CONFLICT OF INTEREST ATTESTATION IS SIGNED ANNUALLY BY THE DIRECTORS AND EXECUTIVE STAFF AND IS MONITORED BY THE BOARD. UPON DISCLOSURE OF A FINANCIAL INTEREST AND ALL MATERIAL FACTS, THE INTERESTED PERSON SHALL LEAVE THE BOARD MEETING WHILE THE REMAINING BOARD MEMBERS DETERMINE BY MEANS OF A VOTE IF A CONFLICT OF INTEREST EXISTS. THE INTERESTED PERSON CAN MAKE A PRESENTATION TO THE BOARD BUT SUBSEQUENTLY, HE/SHE SHALL LEAVE THE MEETING DURING THE DETERMINATION IF A CONFLICT OF INTEREST DOES INDEED EXIST. THE CHAIRPERSON OF THE BOARD SHALL APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE BOARD SHALL DETERMINE WHETHER THE FOUNDATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF AN ARRANGEMENT CANNOT REASONABLY BE MADE WITH AN ENTITY WITHOUT A CONFLICT THEN THE BOARD SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE BEST INTEREST OF THE FOUNDATION. IF THE BOARD HAS A REASONABLE CAUSE TO BELIEVE THAT A DIRECTOR, OFFICER OR MEMBER OF THE EXECUTIVE STAFF HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL INFORM THE INDIVIDUAL OF THE BASIS FOR SUCH BELIEF AND AFFORD AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD DETERMINES THAT AN INDIVIDUAL WHO IS SUBJECTED TO THIS POLICY HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE GOVERNING DOCUMENTS AND FINANCIALS STATEMENTS ARE MAINTAINED AT THE ORGANIZATION'S OFFICES AND ARE AVAILABLE UPON REQUEST. THE 990 IS AVAILABLE AT THE ORGANIZATION'S OFFICE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART VI, SECTION A, LINE 2 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, SECTION B, LINE 11 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION B, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PART XII, LINE 2C: |
| IRS990ScheduleR/AssetExchangeInd | 0 | 0 |
| IRS990ScheduleR/AssetPurchaseFromOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/AssetSaleToOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/DivRelatedOrganizationInd | 0 | 0 |
| IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd | 0 | 0 |
| IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd | 0 | 1 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 0 | 1 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1 | 0 | IMAGINE ACADEMY CORPORATION |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1 | 0 | IMAGINE ACADEMY INC |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2014 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $5,420,263
- Liabilities
- $3,309,423
- Net assets
- $2,110,840
- Revenue
- $441,478
- Expenses
- $734,094
- Net income
- -$292,616