Civic Intelligence

Imagine Akron Academy

990 • Fiscal year 2016 • EIN 27-1414401

Jul 01, 2015 to Jun 30, 2016 • Filed on May 03, 2017

Organization ProfileWWW.IMAGINEAKRONACADEMY.COM
388 South Main StreetAkron, OH 44311-1046

(330) 379-1034

Siviq Scores

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

Liabilities / Assets

100th percentile

14.75x

Higher debt load relative to assets than 100% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

92nd percentile

1.72x

Higher debt load relative to revenue than 92% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Net Margin

15th percentile

-18%

Higher net margin than 15% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Asset Growth

84th percentile

30%

Faster asset growth than 84% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

26th percentile

-9.4%

Faster revenue growth than 26% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets100th percentile

Assets

Up

$68,850

Up $15,685 (+30%) from 2015

Net Assets

Down

-$946,723

Down $105,582 (-13%) from 2015

Liabilities

Up

$1,015,573

Up $121,267 (+14%) from 2015

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin15th percentile

Revenue

Down

$591,223

Down $61,014 (-9.4%) from 2015

Expenses

Up

$696,805

Up $51,531 (+8.0%) from 2015

Net Income

Down

-$105,582

Down $112,545 (-1616%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth84th percentile

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

$2.0M$1.0M$0-$1.0M-$2.0MAssets 2014: $33,074Liabilities 2014: $156,204Net Assets 2014: -$123,1302014Assets 2015: $53,165Liabilities 2015: $894,306Net Assets 2015: -$841,1412015Assets 2016: $68,850Liabilities 2016: $1,015,573Net Assets 2016: -$946,7232016Assets 2017: $225,586Liabilities 2017: $1,268,733Net Assets 2017: -$1,043,1472017Assets 2018: $174,399Liabilities 2018: $1,532,953Net Assets 2018: -$1,358,5542018Assets 2019: $104,894Liabilities 2019: $1,338,314Net Assets 2019: -$1,233,4202019Assets 2020: $73,761Liabilities 2020: $1,195,440Net Assets 2020: -$1,121,6792020Assets 2021: $122,050Liabilities 2021: $1,133,144Net Assets 2021: -$1,011,0942021Assets 2022: $112,881Liabilities 2022: $1,026,211Net Assets 2022: -$913,3302022Assets 2023: $157,250Liabilities 2023: $338,559Net Assets 2023: -$181,3092023Assets 2024: $126,126Liabilities 2024: $294,957Net Assets 2024: -$168,8312024Assets 2025: $108,378Liabilities 2025: $256,517Net Assets 2025: -$148,1392025

Highlighted filing

2016

Assets$68,850
Liabilities$1,015,573
Net Assets-$946,723
Open 2016 Filing

Operations Trend

Revenue Growth26th percentile

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

$1.0M$500K$0-$500KRevenue 2014: $737,022Expenses 2014: $741,664Net Income 2014: -$4,6422014Revenue 2015: $652,237Expenses 2015: $645,274Net Income 2015: $6,9632015Revenue 2016: $591,223Expenses 2016: $696,805Net Income 2016: -$105,5822016Revenue 2017: $547,255Expenses 2017: $643,679Net Income 2017: -$96,4242017Revenue 2018: $451,319Expenses 2018: $596,444Net Income 2018: -$145,1252018Revenue 2019: $509,557Expenses 2019: $384,423Net Income 2019: $125,1342019Revenue 2020: $373,921Expenses 2020: $262,180Net Income 2020: $111,7412020Revenue 2021: $406,477Expenses 2021: $295,892Net Income 2021: $110,5852021Revenue 2022: $440,757Expenses 2022: $342,993Net Income 2022: $97,7642022Revenue 2023: $561,957Expenses 2023: $516,958Net Income 2023: $44,9992023Revenue 2024: $380,475Expenses 2024: $367,997Net Income 2024: $12,4782024Revenue 2025: $441,228Expenses 2025: $420,536Net Income 2025: $20,6922025

Highlighted filing

2016

Revenue$591,223
Expenses$696,805
Net Income-$105,582
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 3, 2017
Return Version
2015v3.0
Gross Receipts
$591,223
Mission and Program Overview

Mission

Imagine akron academy partners with parents and guardians in the education of their children by providing high quality schools that prepare students for lives of leadership, accomplishment, and exemplary character

Balance Sheet Detail
LineBeginningEndChange
Assets
Prepaid Expenses and Deferred Charges$36,852$58,926▲ $22,074
Pledges and Grants Receivable$16,106$9,599▼ $6,507
Cash and Non-Interest-Bearing Accounts$207$325▲ $118
Total Assets$53,165$68,850▲ $15,685
Liabilities
Other Liabilities$643,009$560,133▼ $82,876
Unsecured Notes Loans Payable$120,000$255,000▲ $135,000
Deferred Revenue$115,726$191,217▲ $75,491
Accounts Payable and Accrued Expenses$15,571$9,223▼ $6,348
Total Liabilities$894,306$1,015,573▲ $121,267
Net Assets / Fund Balance
Unrestricted Net Assets$-841,141$-946,723▼ $105,582
Total Net Assets Fund Balance$-841,141$-946,723▼ $105,582
Total Liabilities and Net Assets / Fund Balance$53,165$68,850▲ $15,685
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Anthony BurwellTrustee
Gregory HarrisTrustee
Kendall RileyTrustee
Lyvette JohnsonTrustee
Phillip RisbyTrustee
Richard BerdineTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$591,223
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-105,582
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$660,700
Salaries, Compensation, and Employee Benefits$36,105
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$507,968--$507,968
Occupancy$125,692--$125,692
Pension Plan Contributions$36,105--$36,105
Other Expenses$14,844--$14,844
Fees for Services Other$11,850--$11,850
Office Expenses$346--$346
Total Functional Expenses$696,805$0$0$696,805
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Pension Liability$560,133
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
Yes
Other officer compensation reviewed
No
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

“Day to day operations are delegated to imagine schools, inc the management company.”

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

“An outside cpa firm prepares the form 990 and sends it to the treasurer, who reviews it and presents it to the board. If no changes, the treasurer signs the 8879, and sends it back to the cpa firm, who then e-files the return.”

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

“Each board member, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person: a. Received a copy of the conflict of interest policy; b. Read and understands policy; c. Agreed to comply with the policy.”

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

“The school does not have any officers or employees. A managment company is used and their compensation is negotiated by the school board.”

Form 990, Page 6, Part VI, Line 19

“Governing documents and conflict of interest policy are available at the office upon request. Past financial statements can be found on the state auditor of ohio's website and must be filed by november 30th of each year.”

Filing and Contact Details

Filer

Filer Name
Imagine Akron Academy
EIN
27-1414401
Address
388 SOUTH MAIN STREET, AKRON, OH 44311-1046

Signing Officer

Name
Richard Berdine
Title
Treasurer
Signed
2017-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Berdine
Formed
2010
Legal Domicile
Oh
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
25

Preparer

Firm
Hhh CPA Group LLC
Address
1250 OLD HENDERSON RD, COLUMBUS, OH 43220-3606
Preparer
Brian Schneider
Phone
6144514644
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Implement of gasb stmnt 68 & 71 0”

Raw XML Appendix300 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/Desc0IMAGINE AKRON ACADEMY IS AN OHIO CHARTER SCHOOL WITH APPROXIMATELY 160 STUDENTS ENROLLED IN GRADE KINDERGARTEN. THE SCHOOL PARTNERS WITH PARENTS AND GUARDIANS VIA SCHOOL CHOICE TO ACHIEVE THE SCHOOL'S MISSION. THE SCHOOL USES FIVE "MEASURES OF EXCELLENCE" TO EVALUATE ITS EFFECTIVENESS. THE MEASURES ARE ACADEMIC GROWTH, CHARACTER DEVELOPMENT, ECONOMIC SUSTAINABILITY, PARENT CHOICE, AND SHARED VALUES. THE SCHOOL HAS NO EMPLOYEES AND IS MANAGED BY IMAGINE SCHOOLS NON-PROFIT, INC.
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IRS990/Form990PartVIISectionAGrp/TitleTxt1TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt2TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0MAINLY THROUGH BROCHURES.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL RECEIVES FINANCIAL ASSISTANCE FROM THE FEDERAL GOVERNMENT AND STATE AGENCIES IN THE FORM OF GRANTS. THE DISBURSEMENTS OF FUNDS RECEIVED FROM THESE GRANTS NORMALLY REQUIRE COMPLIANCE WITH TERMS AND CONDITIONS OF THE GRANT WHICH ARE SPECIFIED IN THE GRANT AGREEMENT AND ARE SUBJECT TO AUDIT BY THE GRANTOR AGENCIES.
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IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DAY TO DAY OPERATIONS ARE DELEGATED TO IMAGINE SCHOOLS, INC THE MANAGEMENT COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AN OUTSIDE CPA FIRM PREPARES THE FORM 990 AND SENDS IT TO THE TREASURER, WHO REVIEWS IT AND PRESENTS IT TO THE BOARD. IF NO CHANGES, THE TREASURER SIGNS THE 8879, AND SENDS IT BACK TO THE CPA FIRM, WHO THEN E-FILES THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH BOARD MEMBER, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: A. RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY; B. READ AND UNDERSTANDS POLICY; C. AGREED TO COMPLY WITH THE POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE SCHOOL DOES NOT HAVE ANY OFFICERS OR EMPLOYEES. A MANAGMENT COMPANY IS USED AND THEIR COMPENSATION IS NEGOTIATED BY THE SCHOOL BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE AT THE OFFICE UPON REQUEST. PAST FINANCIAL STATEMENTS CAN BE FOUND ON THE STATE AUDITOR OF OHIO'S WEBSITE AND MUST BE FILED BY NOVEMBER 30TH OF EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5IMPLEMENT OF GASB STMNT 68 & 71 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0894306
IRS990/TotalLiabilitiesEOYAmt01015573
IRS990/TotalLiabilitiesGrp/BOYAmt0894306
IRS990/TotalLiabilitiesGrp/EOYAmt01015573
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-841141
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-946723
IRS990/TotalProgramServiceExpensesAmt0696805
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0591223
IRS990/TotalVolunteersCnt025
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt053165
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt068850
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-841141
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-946723
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0120000
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0255000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 162
IRS990/USAddress/CityNm0CUYAHOGA FALLS
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd043222
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0HTTP://WWW.IMAGINEAKRONACADEMY.COM/
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RICHARD BERDINE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IMAGINE AKRON ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0IMAG
ReturnHeader/Filer/EIN0271414401
ReturnHeader/Filer/USAddress/AddressLine1Txt0388 SOUTH MAIN STREET
ReturnHeader/Filer/USAddress/CityNm0AKRON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH
ReturnHeader/Filer/USAddress/ZIPCd0443111046
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0203767687
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HHH CPA GROUP LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01250 OLD HENDERSON RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0COLUMBUS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0432203606
ReturnHeader/PreparerPersonGrp/PhoneNum06144514644
ReturnHeader/PreparerPersonGrp/PreparationDt02017-05-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRIAN SCHNEIDER
ReturnHeader/ReturnTs02017-05-15T08:59:33-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$68,850
Liabilities
$1,015,573
Net assets
-$946,723
Revenue
$591,223
Expenses
$696,805
Net income
-$105,582
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.11$0.26$0.15$0.44$0.42$0.02
2024Detailed filing. Detailed filing data is available for this year.$0.13$0.29$0.17$0.38$0.37$0.01
2023Detailed filing. Detailed filing data is available for this year.$0.16$0.34$0.18$0.56$0.52$0.04
2022Detailed filing. Detailed filing data is available for this year.$0.11$1.03$0.91$0.44$0.34$0.10
2021Detailed filing. Detailed filing data is available for this year.$0.12$1.13$1.01$0.41$0.30$0.11
2020Detailed filing. Detailed filing data is available for this year.$0.07$1.20$1.12$0.37$0.26$0.11
2019Detailed filing. Detailed filing data is available for this year.$0.10$1.34$1.23$0.51$0.38$0.13
2018Detailed filing. Detailed filing data is available for this year.$0.17$1.53$1.36$0.45$0.60$0.15
2017Detailed filing. Detailed filing data is available for this year.$0.23$1.27$1.04$0.55$0.64$0.10
2016Detailed filing. Detailed filing data is available for this year.$0.07$1.02$0.95$0.59$0.70$0.11
2015Detailed filing. Detailed filing data is available for this year.$0.05$0.89$0.84$0.65$0.65$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.03$0.16$0.12$0.74$0.74$0.00