Civic Intelligence

Imagination Foundation

990 • Fiscal year 2018 • EIN 30-0742986

Jul 01, 2017 to Jun 30, 2018 • Filed on Apr 03, 2020

Organization ProfileIMAGINATION.ORG
PO Box 861755Los Angeles, CA 90086

(213) 375-3080

Siviq Scores

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

Liabilities / Assets

75th percentile

0.24x

Higher debt load relative to assets than 75% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

60th percentile

0.06x

Higher debt load relative to revenue than 60% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

66th percentile

11%

Higher net margin than 66% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

92nd percentile

$127,945

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 23.8% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

90th percentile

57%

Faster asset growth than 90% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

84th percentile

43%

Faster revenue growth than 84% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets75th percentile

Assets

Up

$144,121

Up $52,082 (+57%) from 2017

Net Assets

Up

$109,946

Up $57,782 (+111%) from 2017

Liabilities

Down

$34,175

Down $5,700 (-14%) from 2017

Revenue And Expenses
Liabilities / Revenue60th percentileNet Margin66th percentile

Revenue

Up

$537,483

Up $160,532 (+43%) from 2017

Expenses

Down

$479,701

Down $17,553 (-3.5%) from 2017

Net Income

Up

$57,782

Up $178,085 (+148%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

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

$300K$200K$100K$0-$100KAssets 2015: $1,304Liabilities 2015: $29,805Net Assets 2015: -$28,5012015Assets 2016: $213,872Liabilities 2016: $41,404Net Assets 2016: $172,4682016Assets 2017: $92,039Liabilities 2017: $39,875Net Assets 2017: $52,1642017Assets 2018: $144,121Liabilities 2018: $34,175Net Assets 2018: $109,9462018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019

Highlighted filing

2018

Assets$144,121
Liabilities$34,175
Net Assets$109,946
Open 2018 Filing

Operations Trend

Revenue Growth84th percentile

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

$1.0M$500K$0-$500KRevenue 2015: $444,411Expenses 2015: $453,712Net Income 2015: -$9,3012015Revenue 2016: $789,827Expenses 2016: $588,858Net Income 2016: $200,9692016Revenue 2017: $376,951Expenses 2017: $497,254Net Income 2017: -$120,3032017Revenue 2018: $537,483Expenses 2018: $479,701Net Income 2018: $57,7822018Revenue 2019: $0Expenses 2019: $109,946Net Income 2019: -$109,9462019

Highlighted filing

2018

Revenue$537,483
Expenses$479,701
Net Income$57,782
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Apr 3, 2020
Return Version
2017v2.3
Gross Receipts
$537,483
Mission and Program Overview

Mission

To find, foster and fund creativity and entrepreneurship in children around the world to raise a new generation of innovators and problem solvers who have the tools they need to build the world they imagine.

To find, foster, and fund creativity and entrepreneurship in children around the world.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$3,380$117,894▲ $114,514
Cash and Non-Interest-Bearing Accounts$74,100$20,049▼ $54,051
Loans From Officers Directors$16,854$16,854→ $0
Land, Buildings, and Equipment, Net$8,026$6,178▼ $1,848
Prepaid Expenses and Deferred Charges$2,183--
Total Assets$92,039$144,121▲ $52,082
Other Assets Total$4,350$0▼ $4,350
Liabilities
Accounts Payable and Accrued Expenses$23,021$17,321▼ $5,700
Total Liabilities$39,875$34,175▼ $5,700
Net Assets / Fund Balance
Unrestricted Net Assets$52,164$109,946▲ $57,782
Total Net Assets Fund Balance$52,164$109,946▲ $57,782
Total Liabilities and Net Assets / Fund Balance$92,039$144,121▲ $52,082

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,178$3,062$9,240
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mike McgalliardExecutive DirectorFT$120,000$7,945$127,945

Board Members and Trustees

NameTitle
Nirvan MullickBoard Chair
Ben GoldhirshDirector
Scott CurranDirector
Tom Vander ArkDirector
Sarah AdolphsonSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$536,679
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$804
All Other Contributions
$536,679
Change in Net Assets
$57,782
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$362,852
Other Expenses$115,849
Grants and Similar Amounts Paid$1,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$180,219$14,156-$194,375
Current Officers, Directors, Trustees, and Key Employees$94,663$16,705-$111,368
Information Technology$37,972$9,493-$47,465
Other Employee Benefits$30,387$3,058-$33,445
Fees for Services Accounting-$25,886-$25,886
Occupancy$16,854$7,223-$24,077
Payroll Taxes$21,298$2,366-$23,664
Fees for Services Other$10,900--$10,900
Travel$1,972--$1,972
Office Expenses$797$1,169-$1,966
Depreciation Depletion$924$924-$1,848
Insurance$857$857-$1,714
Grants to Domestic Individuals$1,000--$1,000
Advertising-$21-$21
Total Functional Expenses$397,843$81,858$0$479,701
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

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$16,854$16,854→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“There are no committees with the authority to act on behalf of the board.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is prepared by the organization's outside public accounting firm based on information provided by management. Once a draft of the return is available, it is reviewed by management with any changes or revisions incorporated into the filing. The revised return is then submitted to the board of directors for their review and approval prior to submitting to the irs.”

Form 990, Part VI, Section B, Line 12C

“Monitoring is performed regularly by the officers to identify potential conflicts of interest. Any question of a conflict is addressed with the interested person, who is required to disclose the existence of any financial interest and be afforded the opportunity to disclose all material facts to the board and executive director. If a conflict of interest is identified, the appropriate action is taken, including limitations to the individual's influence on related business matters.”

Form 990, Part VI, Section B, Line 15

“Human resources performs market research based on industry and size when determing compensation for officers or key employees of the organization. The board reviews and approves the compensation amounts.”

Form 990, Part VI, Section C, Line 19

“Documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Imagination Foundation
EIN
30-0742986
Phone
2133753080
Address
PO BOX 861755, LOS ANGELES, CA 90086

Signing Officer

Name
Nirvan Mullick
Title
Board Chair
Phone
2133753080
Signed
2020-04-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nirvan Mullick
Formed
2012
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
3
Volunteers
1,600

Preparer

Firm
Cliftonlarsonallen Llp
Address
2210 EAST ROUTE 66, GLENDORA, CA 91740
Preparer
Derrick Debruyne CPA
Phone
6268577300
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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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IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PREPARED BY THE ORGANIZATION'S OUTSIDE PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. ONCE A DRAFT OF THE RETURN IS AVAILABLE, IT IS REVIEWED BY MANAGEMENT WITH ANY CHANGES OR REVISIONS INCORPORATED INTO THE FILING. THE REVISED RETURN IS THEN SUBMITTED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND APPROVAL PRIOR TO SUBMITTING TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MONITORING IS PERFORMED REGULARLY BY THE OFFICERS TO IDENTIFY POTENTIAL CONFLICTS OF INTEREST. ANY QUESTION OF A CONFLICT IS ADDRESSED WITH THE INTERESTED PERSON, WHO IS REQUIRED TO DISCLOSE THE EXISTENCE OF ANY FINANCIAL INTEREST AND BE AFFORDED THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE BOARD AND EXECUTIVE DIRECTOR. IF A CONFLICT OF INTEREST IS IDENTIFIED, THE APPROPRIATE ACTION IS TAKEN, INCLUDING LIMITATIONS TO THE INDIVIDUAL'S INFLUENCE ON RELATED BUSINESS MATTERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3HUMAN RESOURCES PERFORMS MARKET RESEARCH BASED ON INDUSTRY AND SIZE WHEN DETERMING COMPENSATION FOR OFFICERS OR KEY EMPLOYEES OF THE ORGANIZATION. THE BOARD REVIEWS AND APPROVES THE COMPENSATION AMOUNTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0536679
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt081858
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0397843
IRS990/TotalFunctionalExpensesGrp/TotalAmt0479701
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IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt052164
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0109946
IRS990/TotalOtherCompensationAmt07945
IRS990/TotalProgramServiceExpensesAmt0397843
IRS990/TotalReportableCompFromOrgAmt0120000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0804
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0537483
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/TravelGrp/ProgramServicesAmt01972
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IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0IMAGINATION.ORG
IRS990/WhistleblowerPolicyInd01
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ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0NIRVAN MULLICK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIR
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ReturnHeader/BusinessOfficerGrp/SignatureDt02020-04-03
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ReturnHeader/FilingSecurityInformation/IPDt02020-04-03
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PD
ReturnHeader/FilingSecurityInformation/IPTm018:50:17
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CLIFTONLARSONALLEN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02210 EAST ROUTE 66
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GLENDORA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd091740
ReturnHeader/PreparerPersonGrp/PhoneNum06268577300
ReturnHeader/PreparerPersonGrp/PreparationDt02020-04-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DERRICK DEBRUYNE CPA
ReturnHeader/ReturnTs02020-04-03T19:06:58-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$144,121
Liabilities
$34,175
Net assets
$109,946
Revenue
$537,483
Expenses
$479,701
Net income
$57,782
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2019Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$1.10$1.10
2018Detailed filing. Detailed filing data is available for this year.$1.44$0.34$1.10$5.37$4.80$0.58
2017Detailed filing. Detailed filing data is available for this year.$0.92$0.40$0.52$3.77$4.97$1.20
2016Detailed filing. Detailed filing data is available for this year.$2.14$0.41$1.72$7.90$5.89$2.01
2015Detailed filing. Detailed filing data is available for this year.$0.01$0.30$0.29$4.44$4.54$0.09