Civic Intelligence

Imagine Schools at Imperial Valley

990 • Fiscal year 2016 • EIN 27-0383823

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 09, 2017

Organization ProfileWWW.IMAGINESCHOOLS.COM
1150 North Imperial AveEl Centro, CA 92243

(760) 592-7254

Siviq Scores

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

Liabilities / Assets

88th percentile

0.87x

Higher debt load relative to assets than 88% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

52nd percentile

0.20x

Higher debt load relative to revenue than 52% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

49th percentile

1.9%

Higher net margin than 49% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

83rd percentile

20%

Faster asset growth than 83% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

82nd percentile

24%

Faster revenue growth than 82% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$2,275,922

Up $374,090 (+20%) from 2015

Net Assets

Up

$296,362

Up $296,362 from 2015

Liabilities

Up

$1,979,560

Up $77,728 (+4.1%) from 2015

Revenue And Expenses
Liabilities / Revenue52nd percentileNet Margin49th percentile

Revenue

Up

$9,707,233

Up $1,880,032 (+24%) from 2015

Expenses

Up

$9,524,474

Up $1,500,269 (+19%) from 2015

Net Income

Up

$182,759

Up $379,763 (+193%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth83rd percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2013: $3,665,482Liabilities 2013: $3,114,053Net Assets 2013: $551,4292013Assets 2014: $2,678,993Liabilities 2014: $2,481,989Net Assets 2014: $197,0042014Assets 2015: $1,901,832Liabilities 2015: $1,901,832Net Assets 2015: $02015Assets 2016: $2,275,922Liabilities 2016: $1,979,560Net Assets 2016: $296,3622016Assets 2017: $2,458,939Liabilities 2017: $2,111,444Net Assets 2017: $347,4952017

Highlighted filing

2016

Assets$2,275,922
Liabilities$1,979,560
Net Assets$296,362
Open 2016 Filing

Operations Trend

Revenue Growth82nd percentile

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

$10M$5.0M$0-$5.0MExpenses 2013: $5,741,3492013Revenue 2014: $6,983,867Expenses 2014: $7,338,292Net Income 2014: -$354,4252014Revenue 2015: $7,827,201Expenses 2015: $8,024,205Net Income 2015: -$197,0042015Revenue 2016: $9,707,233Expenses 2016: $9,524,474Net Income 2016: $182,7592016Revenue 2017: $9,868,597Expenses 2017: $9,817,464Net Income 2017: $51,1332017

Highlighted filing

2016

Revenue$9,707,233
Expenses$9,524,474
Net Income$182,759
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 9, 2017
Return Version
2015v3.0
Gross Receipts
$9,707,233
Mission and Program Overview

Mission

Imagine school at imperial valley helps parents and guardians educate their children by creating learning communities of achievement and hope with a focus on individualized learning to meet the needs of each program.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$913,809$1,431,777▲ $517,968
Land, Buildings, and Equipment, Net$628,214$501,274▼ $126,940
Accounts Receivable$286,725$291,171▲ $4,446
Prepaid Expenses and Deferred Charges$73,084$51,700▼ $21,384
Total Assets$1,901,832$2,275,922▲ $374,090
Liabilities
Accounts Payable and Accrued Expenses$1,369,359$1,728,730▲ $359,371
Mortgage Notes Payable Secured by Investment Property$481,534$199,891▼ $281,643
Deferred Revenue$50,939$50,939→ $0
Total Liabilities$1,901,832$1,979,560▲ $77,728
Net Assets / Fund Balance
Unrestricted Net Assets-$296,362-
Total Net Assets Fund Balance$0$296,362▲ $296,362
Total Liabilities and Net Assets / Fund Balance$1,901,832$2,275,922▲ $374,090

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$211,387$422,452$633,839
Leasehold Improvements$289,887-$289,887
Compensation and Service Providers
Top Officer Pay19th percentile

Board Members and Trustees

NameTitle
Deirdre MorganPresident
Claudia GallegoSecretary
Ramon OrtegaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$9,585,200
Program Service Revenue
$0
Investment Income
$6,435
Other Revenue
$115,598
All Other Contributions
$36,927
Change in Net Assets
$182,759

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,707,233
Total Revenue per Audited Statements
$9,707,233
Total Revenue per Form 990
$9,707,233
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,056,490
Salaries, Compensation, and Employee Benefits$4,467,984
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,257,187$298,030-$3,555,217
Occupancy$1,582,798--$1,582,798
Fees for Services Management-$863,158-$863,158
Fees for Services Other$394,119$242,580-$636,699
Other Employee Benefits$395,781$42,223-$438,004
Pension Plan Contributions$337,372$29,901-$367,273
Fees for Services Legal-$178,523-$178,523
Other Expenses$143,860$257,787-$143,860
Depreciation Depletion$138,751--$138,751
Information Technology$123,221--$123,221
Payroll Taxes$80,802$26,688-$107,490
Office Expenses$53,188$21,691-$74,879
Travel$51,857--$51,857
Interest-$32,396-$32,396
Fees for Services Accounting-$15,970-$15,970
Advertising-$7,932-$7,932
Total Functional Expenses$7,507,595$2,016,879$0$9,524,474

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,524,474
Total Expenses per Audited Statements$9,524,474
Total Expenses per Form 990$9,524,474
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
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The organization has contracted imagine schools, inc. To provide management services for the school. Under the agreement, imagine schools, inc. Is responsible for the administration, operation, and performance of the school.”

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

“The board of directors reviews the 990 prior to filing and a board officer usually signs the return.”

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

“Each designated employee, including governing board members and candidates for election and/or appointment to the governing board, shall file a statement of economic interest disclosing reportable interests. Disqualifications are to be made at meetings during consideration of the decision and the board member shall refrain from participating in the decision in any way.”

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

“The process for determining the compensation for officers, top management, and key employees includes review and approval by the board of directors.”

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

“SAME AS ABOVE.”

Form 990, Page 6, Part VI, Line 19

“Governing documents, conflict of interest policy and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Imagine Schools at Imperial Valley
EIN
27-0383823
Phone
7605927254
Address
1150 NORTH IMPERIAL AVE, EL CENTRO, CA 92243

Signing Officer

Name
Deirdre Morgan
Title
President
Phone
7605927254
Signed
2017-02-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Deirdre Morgan
Formed
2010
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
3
Employees
156
Volunteers
1,000

Preparer

Firm
Vicenti Lloyd & Stutzman
Address
2210 E ROUTE 66 STE 100, GLENDORA, CA 91740-4676
Preparer
Wade Mcmullen CPA
Phone
6268577300
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The academy is a non-profit entity exempt from the payment of income taxes under internal revenue code section 501(c)(3) and california revenue and taxation code section 23701d. Accordingly, no provision has been made for income taxes. Management has determined that all income tax positions are more likely than not of being sustained upon potential audit or examination; therefore, no disclosures of uncertain income tax positions are required. The academy files informational returns in the u.s. Federal jurisdiction, and the state of california. The statute of limitations for federal and california state purposes is generally three and four years, respectively.”

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ACADEMY IS A NON-PROFIT ENTITY EXEMPT FROM THE PAYMENT OF INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND CALIFORNIA REVENUE AND TAXATION CODE SECTION 23701D. ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES. MANAGEMENT HAS DETERMINED THAT ALL INCOME TAX POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED UPON POTENTIAL AUDIT OR EXAMINATION; THEREFORE, NO DISCLOSURES OF UNCERTAIN INCOME TAX POSITIONS ARE REQUIRED. THE ACADEMY FILES INFORMATIONAL RETURNS IN THE U.S. FEDERAL JURISDICTION, AND THE STATE OF CALIFORNIA. THE STATUTE OF LIMITATIONS FOR FEDERAL AND CALIFORNIA STATE PURPOSES IS GENERALLY THREE AND FOUR YEARS, RESPECTIVELY.
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1IMAGINE SCHOOLS AT IMPERIAL VALLEY IS A PUBLIC CHARTER SCHOOL PRINCIPALLY FUNDED BY CALIFORNIA AND FEDERAL MONIES RECEIVED THROUGH THE CALIFORNIA DEPARTMENT OF EDUCATION.
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS CONTRACTED IMAGINE SCHOOLS, INC. TO PROVIDE MANAGEMENT SERVICES FOR THE SCHOOL. UNDER THE AGREEMENT, IMAGINE SCHOOLS, INC. IS RESPONSIBLE FOR THE ADMINISTRATION, OPERATION, AND PERFORMANCE OF THE SCHOOL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS REVIEWS THE 990 PRIOR TO FILING AND A BOARD OFFICER USUALLY SIGNS THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH DESIGNATED EMPLOYEE, INCLUDING GOVERNING BOARD MEMBERS AND CANDIDATES FOR ELECTION AND/OR APPOINTMENT TO THE GOVERNING BOARD, SHALL FILE A STATEMENT OF ECONOMIC INTEREST DISCLOSING REPORTABLE INTERESTS. DISQUALIFICATIONS ARE TO BE MADE AT MEETINGS DURING CONSIDERATION OF THE DECISION AND THE BOARD MEMBER SHALL REFRAIN FROM PARTICIPATING IN THE DECISION IN ANY WAY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PROCESS FOR DETERMINING THE COMPENSATION FOR OFFICERS, TOP MANAGEMENT, AND KEY EMPLOYEES INCLUDES REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SAME AS ABOVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01901832
IRS990/TotalAssetsEOYAmt02275922
IRS990/TotalAssetsGrp/BOYAmt01901832
IRS990/TotalAssetsGrp/EOYAmt02275922
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt09585200
IRS990/TotalEmployeeCnt0156
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt02016879
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt07507595
IRS990/TotalFunctionalExpensesGrp/TotalAmt09524474
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01901832
IRS990/TotalLiabilitiesEOYAmt01979560
IRS990/TotalLiabilitiesGrp/BOYAmt01901832
IRS990/TotalLiabilitiesGrp/EOYAmt01979560
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0296362
IRS990/TotalProgramServiceExpensesAmt07507595
IRS990/TotalRevenueGrp/ExclusionAmt06435
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0115598
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt09707233
IRS990/TotalVolunteersCnt01000
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01901832
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02275922
IRS990/TravelGrp/ProgramServicesAmt051857
IRS990/TravelGrp/TotalAmt051857
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0296362
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01150 NORTH IMPERIAL AVE
IRS990/USAddress/CityNm0EL CENTRO
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd092243
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0HTTP://WWW.IMAGINESCHOOLS.COM/
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DEIRDRE MORGAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07605927254
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IMAGINE SCHOOLS AT IMPERIAL VALLEY
ReturnHeader/Filer/BusinessNameControlTxt0IMAG
ReturnHeader/Filer/EIN0270383823
ReturnHeader/Filer/PhoneNum07605927254
ReturnHeader/Filer/USAddress/AddressLine1Txt01150 NORTH IMPERIAL AVE
ReturnHeader/Filer/USAddress/CityNm0EL CENTRO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd092243
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0952242818
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0VICENTI LLOYD & STUTZMAN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02210 E ROUTE 66 STE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GLENDORA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0917404676
ReturnHeader/PreparerPersonGrp/PhoneNum06268577300
ReturnHeader/PreparerPersonGrp/PreparationDt02017-05-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0WADE MCMULLEN CPA
ReturnHeader/ReturnTs02017-05-11T12:37:18-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$2,275,922
Liabilities
$1,979,560
Net assets
$296,362
Revenue
$9,707,233
Expenses
$9,524,474
Net income
$182,759
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.46$2.11$0.35$9.87$9.82$0.05
2016Detailed filing. Detailed filing data is available for this year.$2.28$1.98$0.30$9.71$9.52$0.18
2015Detailed filing. Detailed filing data is available for this year.$1.90$1.90$0.00$7.83$8.02$0.20
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.68$2.48$0.20$6.98$7.34$0.35
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.67$3.11$0.55$5.74