Civic Intelligence

Imagine Schools Non-Profit Inc

EIN 20-3590526 • 501(c)3 • Vienna, VA

Profile

Imagine schools non-profit's vision is for every child to reach his or her full potential and discover pathways for life-long success. As a national family of public charter school campuses, imagine schools non-profit's misssion is to partner with parents and guardians in the education of their children by providing high quality schools that prepare students for lives of leadership, acccomplishment, and exemplary character. Imagine schools non-profit pursues its mission utilizing the following objectives: create choice for parents and students within the public school system. Emphasize academic exellence and character development as the essential elements of life-long success. Encourage innovative teaching practices that individualize learning according to the needs of each student. Provide a system of accountability for results in public education (i.e imagine schools measures of excellence). Support principals, teachers, and school staff as the front-line leaders and decision-makers,

1900 Gallows Rd Ste 250Vienna, VA 22182-2758

www.imagineschools.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

94th percentile

1.05x

Higher debt load relative to assets than 94% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

83rd percentile

1.98x

Higher debt load relative to revenue than 83% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

20th percentile

-5.5%

Higher net margin than 20% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

42nd percentile

$424,000

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Asset Growth

34th percentile

2.5%

Faster asset growth than 34% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

73rd percentile

20%

Faster revenue growth than 73% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Up

$162,706,488

Up $3,977,312 (+2.5%) from 2023

Liabilities

Up

$170,976,587

Up $8,511,463 (+5.2%) from 2023

Net Assets

Down

-$8,270,099

Down $4,534,151 (-121%) from 2023

Revenue

Up

$86,189,940

Up $14,278,025 (+20%) from 2023

Expenses

Up

$90,920,595

Up $15,216,819 (+20%) from 2023

Net Income

Down

-$4,730,655

Down $938,794 (-25%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$200M$100M$0-$100MAssets 2011: $12,848,369Liabilities 2011: $12,895,603Net Assets 2011: -$47,2342011Assets 2012: $23,047,627Liabilities 2012: $42,467,913Net Assets 2012: -$19,420,2862012Assets 2013: $21,524,120Liabilities 2013: $49,866,783Net Assets 2013: -$28,342,6632013Assets 2014: $22,394,173Liabilities 2014: $55,522,321Net Assets 2014: -$33,128,1482014Assets 2015: $68,620,180Liabilities 2015: $35,164,106Net Assets 2015: $33,456,0742015Assets 2016: $65,311,137Liabilities 2016: $42,464,520Net Assets 2016: $22,846,6172016Assets 2017: $64,769,889Liabilities 2017: $45,583,374Net Assets 2017: $19,186,5152017Assets 2018: $67,145,658Liabilities 2018: $54,286,031Net Assets 2018: $12,859,6272018Assets 2019: $68,931,700Liabilities 2019: $59,455,441Net Assets 2019: $9,476,2592019Assets 2020: $90,821,472Liabilities 2020: $85,005,836Net Assets 2020: $5,815,6362020Assets 2021: $105,214,691Liabilities 2021: $101,591,767Net Assets 2021: $3,622,9242021Assets 2022: $161,309,849Liabilities 2022: $161,253,936Net Assets 2022: $55,9132022Assets 2023: $158,729,176Liabilities 2023: $162,465,124Net Assets 2023: -$3,735,9482023Assets 2024: $162,706,488Liabilities 2024: $170,976,587Net Assets 2024: -$8,270,0992024

Highlighted filing

2024

Assets$162,706,488
Liabilities$170,976,587
Net Assets-$8,270,099

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$150M$100M$50M$0-$50MRevenue 2011: $82,576,997Expenses 2011: $79,069,672Net Income 2011: $3,507,3252011Expenses 2012: $97,723,7982012Expenses 2013: $97,213,2182013Revenue 2014: $98,709,909Expenses 2014: $103,495,394Net Income 2014: -$4,785,4852014Revenue 2015: $121,666,151Expenses 2015: $56,688,073Net Income 2015: $64,978,0782015Revenue 2016: $57,737,694Expenses 2016: $68,065,714Net Income 2016: -$10,328,0202016Revenue 2017: $64,782,977Expenses 2017: $70,051,630Net Income 2017: -$5,268,6532017Revenue 2018: $56,984,509Expenses 2018: $59,711,096Net Income 2018: -$2,726,5872018Revenue 2019: $58,194,178Expenses 2019: $61,372,342Net Income 2019: -$3,178,1642019Revenue 2020: $57,096,854Expenses 2020: $60,757,477Net Income 2020: -$3,660,6232020Revenue 2021: $58,577,849Expenses 2021: $60,770,561Net Income 2021: -$2,192,7122021Revenue 2022: $62,482,447Expenses 2022: $66,055,923Net Income 2022: -$3,573,4762022Revenue 2023: $71,911,915Expenses 2023: $75,703,776Net Income 2023: -$3,791,8612023Revenue 2024: $86,189,940Expenses 2024: $90,920,595Net Income 2024: -$4,730,6552024

Highlighted filing

2024

Revenue$86,189,940
Expenses$90,920,595
Net Income-$4,730,655

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$163$171$8.27$86.2$90.9$4.73
2023Detailed filing. Detailed filing data is available for this year.$159$162$3.74$71.9$75.7$3.79
2022Detailed filing. Detailed filing data is available for this year.$161$161$0.06$62.5$66.1$3.57
2021Detailed filing. Detailed filing data is available for this year.$105$102$3.62$58.6$60.8$2.19
2020Detailed filing. Detailed filing data is available for this year.$90.8$85.0$5.82$57.1$60.8$3.66
2019Detailed filing. Detailed filing data is available for this year.$68.9$59.5$9.48$58.2$61.4$3.18
2018Detailed filing. Detailed filing data is available for this year.$67.1$54.3$12.9$57.0$59.7$2.73
2017Detailed filing. Detailed filing data is available for this year.$64.8$45.6$19.2$64.8$70.1$5.27
2016Detailed filing. Detailed filing data is available for this year.$65.3$42.5$22.8$57.7$68.1$10.3
2015Detailed filing. Detailed filing data is available for this year.$68.6$35.2$33.5$122$56.7$65.0
2014Detailed filing. Detailed filing data is available for this year.$22.4$55.5$33.1$98.7$103$4.79
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.5$49.9$28.3$97.2
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.0$42.5$19.4$97.7
2011Summary only. Only limited summary data is available for this year.$12.8$12.9$0.05$82.6$79.1$3.51
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 13, 2025
Return Version
2023v6.0
Gross Receipts
$86,189,940
Mission and Program Overview

Mission

Imagine schools non-profit's vision is for every child to reach his or her full potential and discover pathways for life-long success. As a national family of public charter school campuses, imagine schools non-profit's misssion is to partner with parents and guardians in the education of their children by providing high quality schools that prepare students for lives of leadership, acccomplishment, and exemplary character. Imagine schools non-profit pursues its mission utilizing the following objectives: create choice for parents and students within the public school system. Emphasize academic exellence and character development as the essential elements of life-long success. Encourage innovative teaching practices that individualize learning according to the needs of each student. Provide a system of accountability for results in public education (i.e imagine schools measures of excellence). Support principals, teachers, and school staff as the front-line leaders and decision-makers,

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$81,039,812$87,892,487▲ $6,852,675
Investments Other Securities$56,228,000$59,145,611▲ $2,917,611
Cash and Non-Interest-Bearing Accounts$17,341,895$14,459,881▼ $2,882,014
Pledges and Grants Receivable$1,985,601--
Prepaid Expenses and Deferred Charges$248,648$45,760▼ $202,888
Total Assets$158,729,176$162,706,488▲ $3,977,312
Other Assets Total$1,885,220$1,162,749▼ $722,471
Liabilities
Other Liabilities$114,256,710$123,084,844▲ $8,828,134
Tax Exempt Bond Liabilities$42,858,678$41,978,168▼ $880,510
Accounts Payable and Accrued Expenses$5,349,736$5,913,575▲ $563,839
Total Liabilities$162,465,124$170,976,587▲ $8,511,463
Net Assets / Fund Balance
Net Assets With Donor Restrictions$55,913$-3,735,948▼ $3,791,861
Net Assets Without Donor Restrictions$-3,791,861$-4,534,151▼ $742,290
Total Net Assets Fund Balance$-3,735,948$-8,270,099▼ $4,534,151
Total Liabilities and Net Assets / Fund Balance$158,729,176$162,706,488▲ $3,977,312

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$76,639,395-$76,639,395
Equipment$6,840,446-$6,840,446
Land$4,412,646-$4,412,646
Closely Held Equity Interests$59,145,611--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Barry SharpCEO/CFO/presPT$139,921$284,079$424,000
Isabel BerioSec./sr. VicPT$65,835$133,665$199,500
Barry SharpCEO/CFO/pres./treas.-$139,921-$139,921
Marisa PreussChief CommunPT$45,045$91,455$136,500
Isabel BerioSec./sr. Vice Pres.-$65,835-$65,835
Rod SasseExecutive VPPT$60,720$123,280$60,720
Diane ThorneExecutive VPPT$57,420$116,580$57,420
Brad UchaczExecutive VPPT$57,090$115,910$57,090
Monte LangeExecutive VPPT$57,090$115,910$57,090
Shawn TolerExecutive VPPT$55,770$113,230$55,770
James McfaddenVPPT$55,275$112,225$55,275

Board Members and Trustees

NameTitle
John RuggirelloChair
Alex BeehlerDirector
Eileen H BakkeDirector
Kimon SargeantDirector
Luis TellezDirector
Nancy G HallDirector
Roger NaillDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Tysons Corner Owner LLCRent8444 WESTPARK DR STE850, Mclean, VA 22102$188,281
Revenue and Support

Revenue Composition

Contributions and Grants
$69,997,657
Program Service Revenue
$16,192,283
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-4,730,655

Audited Revenue Reconciliation

Revenue per Audited Statements
$86,189,940
Total Revenue per Audited Statements
$86,189,940
Total Revenue per Form 990
$86,189,940
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$48,272,352
Salaries, Compensation, and Employee Benefits$41,818,243
Grants and Similar Amounts Paid$830,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$32,979,262$8,244,815-$41,224,077
Occupancy$15,086,064$3,771,517-$18,857,581
Depreciation Depletion$4,588,786$1,147,197-$5,735,983
Other Expenses$2,392,121$598,030-$2,990,151
Interest$1,998,924$499,731-$2,498,655
All Other Expenses$1,014,025$253,505-$1,267,530
Grants to Domestic Orgs$830,000--$830,000
Current Officers, Directors, Trustees, and Key Employees$475,333$118,833-$594,166
Advertising$182,826$45,707-$228,533
Fees for Services Other$47,798$11,949-$59,747
Office Expenses$41,261$10,316-$51,577
Total Functional Expenses$72,902,476$18,018,119$0$90,920,595

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$90,920,595
Total Expenses per Audited Statements$90,920,595
Total Expenses per Form 990$90,920,595
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Imagine Prep Surprise IncSurprise, AZ501c3Expenses$830,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-SubsidiaryCash AdvanceNo$73,776,958
-SubsidiaryManagement ServicesNo$7,291,862
-SubsidiaryRentNo$2,371,873
-SubsidiaryContributionNo$429,011
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Party$73,776,958
Notes Payable, Current$45,748,202
Other Current Liabilities$2,917,611
Capital Lease Payable, Non-current$642,073

Bond Issues

BondIssuerIssuedIssue PricePurpose
ABonds Payable2019-06-01-BUILDING PURCHASE

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A----

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

Imagine schools non-profit, inc. (isnp) has entered into a financial arrangments agreement (faa) with imagine schools, inc. Under the faa, imagine provides corporate and regional adminstrative, financial, development, management, and operational support to isnp and all of its charter schools.

Form 990, Page 6, Part VI, Line 11B

The initial review of the 990 is by the vice president of the organization. The second review is by the organization's chief financial officer.

Form 990, Page 6, Part VI, Line 12C

To further promote and facilitate the full disclosure of potential and actual conflicts of interest, each leadership person shall complete the annual conflicts of interest questionnaire prior to commencing responsibilities for imagine schools non-profit, inc. And at least once each year thereafter.

Form 990, Page 6, Part VI, Line 15A

Compensation is paid to imagine schools, inc. Via a management agreement. No employees receive compensation through imagine schools non-profit, inc.

Form 990, Page 6, Part VI, Line 15B

All compensation is paid by imagine schools, inc.

Form 990, Page 6, Part VI, Line 19

A copy of the governing documents may be provided upon request.

Filing and Contact Details

Filer

Filer Name
Imagine Schools Non-profit Inc
EIN
20-3590526
Phone
7035272600
Address
1900 GALLOWS RD STE 250, VIENNA, VA 22182-2758

Signing Officer

Name
Barry Sharp
Title
CEO/CFO/pres./treas.
Phone
7037615000
Signed
2025-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Barry Sharp
Formed
2006
Legal Domicile
Va
Voting Board Members
7
Independent Board Members
7
Employees
1,665

Preparer

Firm
Berman Hopkins Wright Laham Cpas & Assoc
Address
8035 SPYGLASS HILL RD, MELBOURNE, FL 32940-7984
Preparer
Abbey K Redden CPA
Phone
3217572020
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Imagine schools non-profit's vision is for every child to reach his or her full potential and discover pathways for life-long success. As a national family of public charter school campuses, imagine schools non-profit's misssion is to partner with parents and guardians in the education of their children by providing high quality schools that prepare students for lives of leadership, acccomplishment, and exemplary character. Imagine schools non-profit pursues its mission utilizing the following objectives: create choice for parents and students within the public school system. Emphasize academic exellence and character development as the essential elements of life-long success. Encourage innovative teaching practices that individualize learning according to the needs of each student. Provide a system of accountability for results in public education (i.e imagine schools measures of excellence). Support principals, teachers, and school staff as the front-line leaders and decision-makers, who best know the needs, challenges, and opportunities of each school community. Imagine schools non-profit measures its performance at each school using six measures of excellence, including: parent choice academic achievement positive character development shared values economic sustainability school development

Financial Statement Notes

Schedule D, Page 3, Part X

The company accounts for income taxes in accordance with fasb asc 740, income taxes, which clarifies the accounting disclosure requirements for uncertainty in tax positions. It requires a two-step approach to evaluate tax positions and determine if they should be recognized for consolidated financial statements. The two-step approach involves recognizing any tax positions that are "more likely than not" to occur and then measuring those positions to determine if they are recognizable in the consolidated financial statements. Management regularly reviews and analyzes all tax positions and has determined that no uncertain tax positions requiring recognition have occurred. In general, the company's income tax returns are subject to examination by the taxing authority for three years after they were filed. As such, the company is no longer subject to examinations for years ending before june 30, 2021.

Raw XML AppendixShowing 400 of 940 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/ActivityOrMissionDesc0IMAGINE SCHOOLS NON-PROFIT'S VISION IS FOR EVERY CHILD TO REACH HIS OR HER FULL POTENTIAL AND DISCOVER PATHWAYS FOR LIFE-LONG SUCCESS. AS A NATIONAL FAMILY OF PUBLIC CHARTER SCHOOL CAMPUSES, IMAGINE SCHOOLS NON-PROFIT'S MISSSION IS TO PARTNER WITH PARENTS AND GUARDIANS IN THE EDUCATION OF THEIR CHILDREN BY PROVIDING HIGH QUALITY SCHOOLS THAT PREPARE STUDENTS FOR LIVES OF LEADERSHIP, ACCCOMPLISHMENT, AND EXEMPLARY CHARACTER. IMAGINE SCHOOLS NON-PROFIT PURSUES ITS MISSION UTILIZING THE FOLLOWING OBJECTIVES: CREATE CHOICE FOR PARENTS AND STUDENTS WITHIN THE PUBLIC SCHOOL SYSTEM. EMPHASIZE ACADEMIC EXELLENCE AND CHARACTER DEVELOPMENT AS THE ESSENTIAL ELEMENTS OF LIFE-LONG SUCCESS. ENCOURAGE INNOVATIVE TEACHING PRACTICES THAT INDIVIDUALIZE LEARNING ACCORDING TO THE NEEDS OF EACH STUDENT. PROVIDE A SYSTEM OF ACCOUNTABILITY FOR RESULTS IN PUBLIC EDUCATION (I.E IMAGINE SCHOOLS MEASURES OF EXCELLENCE). SUPPORT PRINCIPALS, TEACHERS, AND SCHOOL STAFF AS THE FRONT-LINE LEADERS AND DECISION-MAKERS,
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IRS990/MissionDesc0IMAGINE SCHOOLS NON-PROFIT'S VISION IS FOR EVERY CHILD TO REACH HIS OR HER FULL POTENTIAL AND DISCOVER PATHWAYS FOR LIFE-LONG SUCCESS. AS A NATIONAL FAMILY OF PUBLIC CHARTER SCHOOL CAMPUSES, IMAGINE SCHOOLS NON-PROFIT'S MISSSION IS TO PARTNER WITH PARENTS AND GUARDIANS IN THE EDUCATION OF THEIR CHILDREN BY PROVIDING HIGH QUALITY SCHOOLS THAT PREPARE STUDENTS FOR LIVES OF LEADERSHIP, ACCCOMPLISHMENT, AND EXEMPLARY CHARACTER. IMAGINE SCHOOLS NON-PROFIT PURSUES ITS MISSION UTILIZING THE FOLLOWING OBJECTIVES: CREATE CHOICE FOR PARENTS AND STUDENTS WITHIN THE PUBLIC SCHOOL SYSTEM. EMPHASIZE ACADEMIC EXELLENCE AND CHARACTER DEVELOPMENT AS THE ESSENTIAL ELEMENTS OF LIFE-LONG SUCCESS. ENCOURAGE INNOVATIVE TEACHING PRACTICES THAT INDIVIDUALIZE LEARNING ACCORDING TO THE NEEDS OF EACH STUDENT. PROVIDE A SYSTEM OF ACCOUNTABILITY FOR RESULTS IN PUBLIC EDUCATION (I.E IMAGINE SCHOOLS MEASURES OF EXCELLENCE). SUPPORT PRINCIPALS, TEACHERS, AND SCHOOL STAFF AS THE FRONT-LINE LEADERS AND DECISION-MAKERS,
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE COMPANY ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH FASB ASC 740, INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING DISCLOSURE REQUIREMENTS FOR UNCERTAINTY IN TAX POSITIONS. IT REQUIRES A TWO-STEP APPROACH TO EVALUATE TAX POSITIONS AND DETERMINE IF THEY SHOULD BE RECOGNIZED FOR CONSOLIDATED FINANCIAL STATEMENTS. THE TWO-STEP APPROACH INVOLVES RECOGNIZING ANY TAX POSITIONS THAT ARE "MORE LIKELY THAN NOT" TO OCCUR AND THEN MEASURING THOSE POSITIONS TO DETERMINE IF THEY ARE RECOGNIZABLE IN THE CONSOLIDATED FINANCIAL STATEMENTS. MANAGEMENT REGULARLY REVIEWS AND ANALYZES ALL TAX POSITIONS AND HAS DETERMINED THAT NO UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION HAVE OCCURRED. IN GENERAL, THE COMPANY'S INCOME TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE TAXING AUTHORITY FOR THREE YEARS AFTER THEY WERE FILED. AS SUCH, THE COMPANY IS NO LONGER SUBJECT TO EXAMINATIONS FOR YEARS ENDING BEFORE JUNE 30, 2021.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0EACH SEPARATE CHARTER SCHOOL ORGANIZATION SPECIFICALLY STATES ITS NONDISCRIMINATORY POLICY ON SCHOOL BROCHURES, NOTICES PUBLISHED BY THE RESPECTIVE SCHOOL BOARDS, AND ALL OF THEIR PUBLIC ADVERTISEMENTS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1EACH SEPARATE CHARTER SCHOOL RECEIVES GRANTS FROM THEIR RESPECTIVE FUNDING AGENCY.
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IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
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