Civic Intelligence

Imagine Elementary at Tempe Inc

990 • Fiscal year 2016 • EIN 20-4931151

Jul 01, 2015 to Jun 30, 2016 • Filed on May 10, 2017

Organization ProfileIMAGINETEMPE.ORG
1538 E Southern AveTempe, AZ 85282

(480) 355-1640

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

99th percentile

4.26x

Higher debt load relative to assets than 99% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

74th percentile

0.42x

Higher debt load relative to revenue than 74% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

46th percentile

1.1%

Higher net margin than 46% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

61st percentile

$84,021

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

1st percentile

-65%

Faster asset growth than 1% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

38th percentile

-1.4%

Faster revenue growth than 38% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$343,441

Down $642,531 (-65%) from 2015

Net Assets

Up

-$1,118,660

Up $477,264 (+30%) from 2015

Liabilities

Down

$1,462,101

Down $1,119,795 (-43%) from 2015

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin46th percentile

Revenue

Down

$3,468,133

Down $49,507 (-1.4%) from 2015

Expenses

Up

$3,430,549

Up $46,155 (+1.4%) from 2015

Net Income

Down

$37,584

Down $95,662 (-72%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$2.0M$0-$2.0M-$4.0MAssets 2010: $433,284Liabilities 2010: $908,374Net Assets 2010: -$475,0902010Assets 2011: $551,692Liabilities 2011: $927,868Net Assets 2011: -$376,1762011Assets 2012: $621,021Liabilities 2012: $1,482,193Net Assets 2012: -$861,1722012Assets 2013: $357,699Liabilities 2013: $2,170,476Net Assets 2013: -$1,812,7772013Assets 2014: $357,810Liabilities 2014: $2,086,980Net Assets 2014: -$1,729,1702014Assets 2015: $985,972Liabilities 2015: $2,581,896Net Assets 2015: -$1,595,9242015Assets 2016: $343,441Liabilities 2016: $1,462,101Net Assets 2016: -$1,118,6602016Assets 2017: $244,781Liabilities 2017: $2,288,221Net Assets 2017: -$2,043,4402017Assets 2018: $515,783Liabilities 2018: $3,704,682Net Assets 2018: -$3,188,8992018

Highlighted filing

2016

Assets$343,441
Liabilities$1,462,101
Net Assets-$1,118,660
Open 2016 Filing

Operations Trend

Revenue Growth38th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$2.0M$0-$2.0MExpenses 2010: $3,126,9752010Expenses 2011: $3,404,2562011Expenses 2012: $3,245,3182012Expenses 2013: $3,153,9852013Revenue 2014: $3,157,303Expenses 2014: $3,115,836Net Income 2014: $41,4672014Revenue 2015: $3,517,640Expenses 2015: $3,384,394Net Income 2015: $133,2462015Revenue 2016: $3,468,133Expenses 2016: $3,430,549Net Income 2016: $37,5842016Revenue 2017: $2,325,954Expenses 2017: $3,250,734Net Income 2017: -$924,7802017Revenue 2018: $2,184,836Expenses 2018: $3,330,295Net Income 2018: -$1,145,4592018

Highlighted filing

2016

Revenue$3,468,133
Expenses$3,430,549
Net Income$37,584
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 10, 2017
Return Version
2015v3.0
Gross Receipts
$3,473,013
Mission and Program Overview

Mission

To operate a not for profit charter school and conduct educational research, evaluation, and development activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$262,066$161,813▼ $100,253
Other Notes and Loans Receivable, Net$628,129$73,590▼ $554,539
Land, Buildings, and Equipment, Net$49,763$46,497▼ $3,266
Pledges and Grants Receivable-$39,744-
Accounts Receivable-$11,946-
Prepaid Expenses and Deferred Charges$46,014$9,851▼ $36,163
Total Assets$985,972$343,441▼ $642,531
Liabilities
Other Liabilities$2,148,440$1,031,269▼ $1,117,171
Mortgage Notes Payable Secured by Investment Property$224,934$224,934→ $0
Accounts Payable and Accrued Expenses$201,934$205,898▲ $3,964
Deferred Revenue$6,588--
Total Liabilities$2,581,896$1,462,101▼ $1,119,795
Net Assets / Fund Balance
Temporarily Rstr Net Assets$10,699--
Unrestricted Net Assets$-1,606,623$-1,118,660▲ $487,963
Total Net Assets Fund Balance$-1,595,924$-1,118,660▲ $477,264
Total Liabilities and Net Assets / Fund Balance$985,972$343,441▼ $642,531

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$41,880$112,706$154,586
Leasehold Improvements$4,617$2,870$7,487
Compensation and Service Providers
Top Officer Pay61st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Selethia BennPrincipalFT$84,021$84,021

Board Members and Trustees

NameTitle
Dr Leonora KetyerChair
Megan ZimmermanDirector
Herman OrcuttSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,778,903
Program Service Revenue
$1,687,005
Investment Income
$0
Other Revenue
$2,225
All Other Contributions
$400
Change in Net Assets
$37,584

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,468,133
Total Revenue per Audited Statements
$3,468,133
Total Revenue per Form 990
$3,468,133
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,749,655
Salaries, Compensation, and Employee Benefits$1,680,894
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,083,448$191,511-$1,274,959
Occupancy$644,047$36,351-$680,398
Other Employee Benefits$184,126$24,786-$208,912
Fees for Services Management-$176,682-$176,682
Fees for Services Other$153,370--$153,370
All Other Expenses$101,641$8,507-$110,148
Payroll Taxes$85,494$11,509-$97,003
Advertising$90,617--$90,617
Current Officers, Directors, Trustees, and Key Employees$71,400$12,621-$84,021
Other Expenses$40,984$6,672-$47,656
Information Technology$32,577$7,619-$40,196
Insurance$29,473$3,664-$33,137
Depreciation Depletion$21,966$5,492-$27,458
Travel$9,681$15,538-$25,219
Interest-$20,516-$20,516
Pension Plan Contributions$14,101$1,898-$15,999
Office Expenses$7,061$7,783-$14,844
Fees for Services Legal-$13,411-$13,411
Fees for Services Accounting$11,100--$11,100
Total Functional Expenses$2,811,615$618,934$0$3,430,549

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,430,549
Total Expenses per Form 990$3,430,549
Total Expenses per Audited Statements$2,990,869
Expenses Not Reported on Form 990$-439,680
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$7,105
Fundraising Direct Expenses$4,880
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Parties$1,031,269
Due to Schoolhouse Finance-
Due to Other Schools-
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 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
No
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“Imagine schools, inc. Provided comprehensive management services to the school including staffing.”

Form 990, Page 6, Part VI, Line 6

“The school's single member is imagine schools, inc. (ein 04-3466383), which is tax-exempt pursuant to section 501(c)(3) of the internal revenue code.”

Form 990, Page 6, Part VI, Line 7A

“As the single member, imagine schools, inc. Has the exclusive right to approve any amendments to the articles of incorporation or the bylaws, to appoint members of the board of directors, to vote on the disposition of all or substantially all of the corporation's assets, to vote on any merger and its principal terms and any amendment of those terms, and to vote on any election to the corporation; however, the direction and management of the affairs of the corporation are vested in the corporation's board of directors.”

Form 990, Page 6, Part VI, Line 7B

“See the response to form 990 part vi, line 7a.”

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

“A draft of the form 990 is reviewed by the board of directors prior to filing with the irs.”

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

“Each director, principal officer, and member of a committee with board delegated power shall annually sign a statement which affirms that such person has received a copy of the conflicts of interest policy, has read and understands the policy, has agreed to comply with the policy and understands that the corporation is a charitable organization and that in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

Form 990, Page 6, Part VI, Line 19

“Any and all governing documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Imagine Elementary at Tempe Inc
EIN
20-4931151
Phone
4803551640
Address
1538 E SOUTHERN AVE, TEMPE, AZ 85282

Signing Officer

Name
Dr Leonora Ketyer
Title
Chair
Phone
6025477965
Signed
2017-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Leonora Ketyer
Formed
2005
Legal Domicile
Az
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
4

Preparer

Firm
Fester & Chapman Pc
Address
9019 E BAHIA DR STE 100, SCOTTSDALE, AZ 85260
Preparer
Rachel R Locke CPA
Phone
6022643077
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IMAGINE SCHOOLS, INC. PROVIDED COMPREHENSIVE MANAGEMENT SERVICES TO THE SCHOOL INCLUDING STAFFING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL'S SINGLE MEMBER IS IMAGINE SCHOOLS, INC. (EIN 04-3466383), WHICH IS TAX-EXEMPT PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AS THE SINGLE MEMBER, IMAGINE SCHOOLS, INC. HAS THE EXCLUSIVE RIGHT TO APPROVE ANY AMENDMENTS TO THE ARTICLES OF INCORPORATION OR THE BYLAWS, TO APPOINT MEMBERS OF THE BOARD OF DIRECTORS, TO VOTE ON THE DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE CORPORATION'S ASSETS, TO VOTE ON ANY MERGER AND ITS PRINCIPAL TERMS AND ANY AMENDMENT OF THOSE TERMS, AND TO VOTE ON ANY ELECTION TO THE CORPORATION; HOWEVER, THE DIRECTION AND MANAGEMENT OF THE AFFAIRS OF THE CORPORATION ARE VESTED IN THE CORPORATION'S BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SEE THE RESPONSE TO FORM 990 PART VI, LINE 7A.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A DRAFT OF THE FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5EACH DIRECTOR, PRINCIPAL OFFICER, AND MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWER SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, HAS AGREED TO COMPLY WITH THE POLICY AND UNDERSTANDS THAT THE CORPORATION IS A CHARITABLE ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ANY AND ALL GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd20N/A

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$343,441
Liabilities
$1,462,101
Net assets
-$1,118,660
Revenue
$3,468,133
Expenses
$3,430,549
Net income
$37,584
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018Detailed filing. Detailed filing data is available for this year.$0.52$3.70$3.19$2.18$3.33$1.15
2017Detailed filing. Detailed filing data is available for this year.$0.24$2.29$2.04$2.33$3.25$0.92
2016Detailed filing. Detailed filing data is available for this year.$0.34$1.46$1.12$3.47$3.43$0.04
2015Detailed filing. Detailed filing data is available for this year.$0.99$2.58$1.60$3.52$3.38$0.13
2014Detailed filing. Detailed filing data is available for this year.$0.36$2.09$1.73$3.16$3.12$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.36$2.17$1.81$3.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.62$1.48$0.86$3.25
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.55$0.93$0.38$3.40
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.43$0.91$0.48$3.13
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)3 • $1M-$5M nonprofits