Civic Intelligence

Imagine Cleveland Academy

990 • Fiscal year 2015 • EIN 27-1414403

Jul 01, 2014 to Jun 30, 2015 • Filed on Jan 25, 2016

Organization ProfileWWW.IMAGINECLEVELANDACADEMY.COM
3443 East 93rd StreetCleveland, OH 44104-5252

(216) 641-1500

Siviq Scores

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

Liabilities / Assets

100th percentile

14.66x

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

85th percentile

1.09x

Higher debt load relative to revenue than 85% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

48th percentile

2.1%

Higher net margin than 48% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

95th percentile

90%

Faster asset growth than 95% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

38th percentile

-0.6%

Faster revenue growth than 38% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets100th percentile

Assets

Up

$137,527

Up $65,311 (+90%) from 2014

Net Assets

Down

-$1,878,108

Down $1,874,270 (-48835%) from 2014

Liabilities

Up

$2,015,635

Up $1,939,581 (+2550%) from 2014

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin48th percentile

Revenue

Down

$1,846,898

Down $12,015 (-0.6%) from 2014

Expenses

Down

$1,807,996

Down $51,224 (-2.8%) from 2014

Net Income

Up

$38,902

Up $39,209 (+12772%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MAssets 2014: $72,216Liabilities 2014: $76,054Net Assets 2014: -$3,8382014Assets 2015: $137,527Liabilities 2015: $2,015,635Net Assets 2015: -$1,878,1082015Assets 2016: $0Liabilities 2016: $0Net Assets 2016: $02016

Highlighted filing

2015

Assets$137,527
Liabilities$2,015,635
Net Assets-$1,878,108
Open 2015 Filing

Operations Trend

Revenue Growth38th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2014: $1,858,913Expenses 2014: $1,859,220Net Income 2014: -$3072014Revenue 2015: $1,846,898Expenses 2015: $1,807,996Net Income 2015: $38,9022015Revenue 2016: $19,034Expenses 2016: $182,258Net Income 2016: -$163,2242016

Highlighted filing

2015

Revenue$1,846,898
Expenses$1,807,996
Net Income$38,902
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Jan 25, 2016
Return Version
2014v6.0
Gross Receipts
$1,846,898
Mission and Program Overview

Mission

Imagine cleveland 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-$121,844-
Accounts Receivable-$14,455-
Pledges and Grants Receivable$71,916$943▼ $70,973
Cash and Non-Interest-Bearing Accounts$300$285▼ $15
Total Assets$72,216$137,527▲ $65,311
Liabilities
Other Liabilities-$1,692,284-
Deferred Revenue-$307,512-
Grants Payable-$14,896-
Accounts Payable and Accrued Expenses$76,054$943▼ $75,111
Total Liabilities$76,054$2,015,635▲ $1,939,581
Net Assets / Fund Balance
Unrestricted Net Assets$-3,838$-1,878,108▼ $1,874,270
Total Net Assets Fund Balance$-3,838$-1,878,108▼ $1,874,270
Total Liabilities and Net Assets / Fund Balance$72,216$137,527▲ $65,311
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Todd BaumgartnerPresident
Brett CooperTrustee
Jim RuttiTrustee
Kymberly SiasTrustee
Tiffani BrysonTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$1,846,898
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$38,902
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,709,210
Salaries, Compensation, and Employee Benefits$98,786
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$1,590,772--$1,590,772
Pension Plan Contributions$97,471--$97,471
Occupancy$69,800--$69,800
Other Expenses$37,866--$37,866
Information Technology$10,772--$10,772
Other Employee Benefits$1,315--$1,315
Total Functional Expenses$1,807,996$0$0$1,807,996
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
Net Pension Liability$1,692,284
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 management is delegated to imagine schools, inc.”

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

“A third party cpa firm prepares the 990, once it is completed it is sent to the treasurer for review, then presented to the board for approval. If no changes, the 8879 is signed and returned to the cpa firm to e-file the return on the schools behalf.”

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 management 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 and are given to anyone who requests a copy of them. Past financial statements can be found on the state auditor of ohio's website and must be filed by november 30th each year.”

Filing and Contact Details

Filer

Filer Name
Imagine Cleveland Academy
EIN
27-1414403
Phone
2166411500
Address
3443 EAST 93RD STREET, CLEVELAND, OH 44104-5252

Signing Officer

Name
Richard Berdine
Title
Treasurer
Phone
2166411500
Signed
2016-01-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Berdine
Formed
2009
Legal Domicile
Oh
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
12

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

“Adjust gasb stmnt68 1,913,172”

Raw XML Appendix293 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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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0PRIMARILY THROUGH BROCHURES.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL RECEIVES FINANCIAL ASSITANCE FROM THE FEDERAL GOVERNMENT AND STATE AGENCIES IN THE FORM OF GRANTS. THE DISBURSEMENT OF FUNDS RECEIVED FROM THESE GRANTS NORMALLY REQUIRE COMPLIANCE WITH TERMS AND CONDITIONS OF THE GRANT WHICH ARE SPECIFIED IN GRANT AGREEMENT AND ARE SUBJECT TO AUDIT BY THE GRANTOR AGENCIES.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DAY TO DAY MANAGEMENT IS DELEGATED TO IMAGINE SCHOOLS, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A THIRD PARTY CPA FIRM PREPARES THE 990, ONCE IT IS COMPLETED IT IS SENT TO THE TREASURER FOR REVIEW, THEN PRESENTED TO THE BOARD FOR APPROVAL. IF NO CHANGES, THE 8879 IS SIGNED AND RETURNED TO THE CPA FIRM TO E-FILE THE RETURN ON THE SCHOOLS BEHALF.
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 MANAGEMENT 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 AND ARE GIVEN TO ANYONE WHO REQUESTS A COPY OF THEM. PAST FINANCIAL STATEMENTS CAN BE FOUND ON THE STATE AUDITOR OF OHIO'S WEBSITE AND MUST BE FILED BY NOVEMBER 30TH EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ADJUST GASB STMNT68 1,913,172
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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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ReturnHeader/Filer/BusinessNameControlTxt0IMAG
ReturnHeader/Filer/EIN0271414403
ReturnHeader/Filer/PhoneNum02166411500
ReturnHeader/Filer/USAddress/AddressLine1Txt03443 EAST 93RD STREET
ReturnHeader/Filer/USAddress/CityNm0CLEVELAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH
ReturnHeader/Filer/USAddress/ZIPCd0441045252
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/PreparationDt02016-02-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRIAN SCHNEIDER
ReturnHeader/ReturnTs02016-02-08T10:41:28-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$137,527
Liabilities
$2,015,635
Net assets
-$1,878,108
Revenue
$1,846,898
Expenses
$1,807,996
Net income
$38,902
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.02$0.18$0.16
2015Detailed filing. Detailed filing data is available for this year.$0.14$2.02$1.88$1.85$1.81$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.07$0.08$0.00$1.86$1.86$0.00