Civic Intelligence

Imagination Foundation

990 • Fiscal year 2019 • EIN 30-0742986

Jul 01, 2018 to Jun 30, 2019 • Filed on Mar 01, 2021

Organization ProfileIMAGINATION.ORG
555 W 5th Street 35th FloorLos Angeles, CA 90013

(213) 375-3080

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2019

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2019

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2019

Top Officer Pay

95th percentile

$63,973

Higher top officer pay than 95% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

1st percentile

-100%

Faster revenue growth than 1% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $144,121 (-100%) from 2018

Net Assets

Down

$0

Down $109,946 (-100%) from 2018

Liabilities

Down

$0

Down $34,175 (-100%) from 2018

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

Down

$0

Down $537,483 (-100%) from 2018

Expenses

Down

$109,946

Down $369,755 (-77%) from 2018

Net Income

Down

-$109,946

Down $167,728 (-290%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth2nd 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

2019

Assets$0
Liabilities$0
Net Assets$0
Open 2019 Filing

Operations Trend

Revenue Growth1st 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

2019

Revenue$0
Expenses$109,946
Net Income-$109,946
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Mar 1, 2021
Return Version
2018v3.2
Gross Receipts
$0
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$117,894$0▼ $117,894
Cash and Non-Interest-Bearing Accounts$20,049$0▼ $20,049
Loans From Officers Directors$16,854--
Land, Buildings, and Equipment, Net$6,178$0▼ $6,178
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$144,121$0▼ $144,121
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$17,321--
Total Liabilities$34,175$0▼ $34,175
Net Assets / Fund Balance
Unrestricted Net Assets$109,946$0▼ $109,946
Total Net Assets Fund Balance$109,946$0▼ $109,946
Total Liabilities and Net Assets / Fund Balance$144,121$0▼ $144,121
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mike McgalliardExecutive DirectorFT$60,000$3,973$63,973

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
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-109,946
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$87,380
Salaries, Compensation, and Employee Benefits$22,566
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$21,433-$21,433
Fees for Services Legal-$10,300-$10,300
Information Technology-$4,708-$4,708
Depreciation Depletion-$3,062-$3,062
Office Expenses-$3,006-$3,006
Occupancy-$2,903-$2,903
Fees for Services Accounting-$1,400-$1,400
Other Employee Benefits-$1,133-$1,133
Advertising-$889-$889
Other Expenses-$816-$816
Insurance-$518-$518
Travel-$98-$98
Total Functional Expenses$0$109,946$0$109,946
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--
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$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
555 W 5TH STREET 35TH FLOOR, LOS ANGELES, CA 90013

Signing Officer

Name
Nirvan Mullick
Title
Board Chair
Phone
2133753080
Signed
2021-03-01
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
5

Preparer

Firm
Cliftonlarsonallen Llp
Address
2210 EAST ROUTE 66, GLENDORA, CA 91740
Preparer
Derrick Debruyne CPA
Phone
6268577300
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

“In july 1, 2018, imagination foundation ceased all program activities in anticipation of a future acquisition. Beginning january of 2019, imagination foundation mergered with two bit circus foundation.”

Raw XML Appendix372 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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IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0PERSON(S) INVOLVED: SMEETA SINGH
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt1EXPLANATION OF INVOLVEMENT: SMEETA SINGH, FORMER DIRECTOR OF OPERATIONS FOR IMAGINATION FOUNDATION, STAYED ON AS AN EMPLOYEE WITH TWO BIT CIRCUS FOUNDATION (SUCCESSOR ORGANIZATION). SHE WAS GIVEN THE POSITION OF DIRECTOR OF IMAGINATION, CONTINUING ALL RELATIONSHIPS WITH PAST PARTNERS AND SEEKING FUTURE CORPORATE PARTNERSHIPS.
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt2IN ACCORDANCE WITH THE SECTIONS DESCRIBED IN THE BYLAWS OF IMAGINATION FOUNDATION, ALL REMAINING ASSETS WERE TRANSFERED OVER TO THE ACQUIRING ORGANIZATION: TWO BIT CIRCUS FOUNDATION.
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt3COMMUNICATION TO THE ATTORNEY GENERAL AND OTHER APPROPRIATE STATE AUTHORITIES REGARDING THE DISSOLUTION OF IMAGINATION FOUNDATION IS IN PROCESS.
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IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 2E:
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc2PART I, LINE 3:
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc3PART I, LINE 4B
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IN JULY 1, 2018, IMAGINATION FOUNDATION CEASED ALL PROGRAM ACTIVITIES IN ANTICIPATION OF A FUTURE ACQUISITION. BEGINNING JANUARY OF 2019, IMAGINATION FOUNDATION MERGERED WITH TWO BIT CIRCUS FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 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/ExplanationTxt3MONITORING 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/ExplanationTxt4HUMAN 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/ExplanationTxt5DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
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IRS990/SignificantChangeInd01
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd01
IRS990/TotalAssetsBOYAmt0144121
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt0144121
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0109946
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0109946
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt034175
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0109946
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt03973
IRS990/TotalReportableCompFromOrgAmt060000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt00
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
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IRS990/TravelGrp/TotalAmt098
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0109946
IRS990/UnrestrictedNetAssetsGrp/EOYAmt00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0555 W 5TH STREET 35TH FLOOR
IRS990/USAddress/CityNm0LOS ANGELES
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd091013
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0IMAGINATION.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0NIRVAN MULLICK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum02133753080
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-03-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IMAGINATION FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0IMAG
ReturnHeader/Filer/EIN0300742986
ReturnHeader/Filer/PhoneNum02133753080
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ReturnHeader/Filer/USAddress/CityNm0LOS ANGELES
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0410746749
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/PreparationDt02021-02-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DERRICK DEBRUYNE CPA
ReturnHeader/ReturnTs02021-03-12T10:34:14-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$0
Expenses
$109,946
Net income
-$109,946
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