Civic Intelligence

Imagination Lab School

990 • Fiscal year 2021 • EIN 47-2409286

Jul 01, 2020 to Jun 30, 2021 • Filed on Mar 07, 2022

Organization Profilewww.imagination-school.org

View Organization Page

4000 Middlefield Rd Suite A5Palo Alto, CA 94303

(650) 460-8940

Siviq Scores

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

Liabilities / Assets

99th percentile

3.05x

Higher debt load relative to assets than 99% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

74th percentile

0.35x

Higher debt load relative to revenue than 74% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

81st percentile

39%

Higher net margin than 81% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

93rd percentile

$231,926

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 11.5% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

2nd percentile

-39%

Faster asset growth than 2% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

93rd percentile

181%

Faster revenue growth than 93% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$230,062

Down $148,321 (-39%) from 2020

Net Assets

Up

-$471,166

Up $795,601 (+63%) from 2020

Liabilities

Down

$701,228

Down $943,922 (-57%) from 2020

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin81st percentile

Revenue

Up

$2,015,814

Up $1,297,464 (+181%) from 2020

Expenses

Up

$1,220,215

Up $49,850 (+4.3%) from 2020

Net Income

Up

$795,599

Up $1,247,614 (+276%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth2nd 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 2016: $71,528Liabilities 2016: $02016Assets 2017: $111,741Liabilities 2017: $295,830Net Assets 2017: -$184,0892017Assets 2018: $111,642Liabilities 2018: $462,955Net Assets 2018: -$351,3132018Assets 2019: $76,881Liabilities 2019: $891,633Net Assets 2019: -$814,7522019Assets 2020: $378,383Liabilities 2020: $1,645,150Net Assets 2020: -$1,266,7672020Assets 2021: $230,062Liabilities 2021: $701,228Net Assets 2021: -$471,1662021Assets 2022: $2,585,007Liabilities 2022: $1,060,513Net Assets 2022: $1,524,4942022Assets 2023: $755,160Liabilities 2023: $90,657Net Assets 2023: $664,5032023Assets 2024: $799,718Liabilities 2024: $117,348Net Assets 2024: $682,3702024Assets 2025: $648,702Liabilities 2025: $174,795Net Assets 2025: $473,9072025

Highlighted filing

2021

Assets$230,062
Liabilities$701,228
Net Assets-$471,166
Open 2021 Filing

Operations Trend

Revenue Growth93rd percentile

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

$4.0M$2.0M$0-$2.0MRevenue 2016: $87,500Expenses 2016: $15,971Net Income 2016: $71,5292016Revenue 2017: $312,514Expenses 2017: $532,353Net Income 2017: -$219,8392017Revenue 2018: $340,795Expenses 2018: $508,019Net Income 2018: -$167,2242018Revenue 2019: $676,426Expenses 2019: $1,139,865Net Income 2019: -$463,4392019Revenue 2020: $718,350Expenses 2020: $1,170,365Net Income 2020: -$452,0152020Revenue 2021: $2,015,814Expenses 2021: $1,220,215Net Income 2021: $795,5992021Revenue 2022: $3,187,230Expenses 2022: $1,191,570Net Income 2022: $1,995,6602022Revenue 2023: $873,963Expenses 2023: $1,733,954Net Income 2023: -$859,9912023Revenue 2024: $1,742,543Expenses 2024: $1,724,674Net Income 2024: $17,8692024Revenue 2025: $1,834,676Expenses 2025: $2,043,521Net Income 2025: -$208,8452025

Highlighted filing

2021

Revenue$2,015,814
Expenses$1,220,215
Net Income$795,599
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Mar 7, 2022
Return Version
2020v4.1
Gross Receipts
$2,015,814
Mission and Program Overview

Mission

Progressive education in a k-8 school, fostering in-depth learning, inspiring creativity, cultivating critical thinking, social emotional learning, collaboration and communication skills to realize each students potential.

Progressive education in a k-12 school, fostering in-depth learning, inspiring creativity, cultivating critical thinking, social emotional learning, collaboration and communication skills to realize each students potential.

Balance Sheet Detail
LineBeginningEndChange
Assets
Loans From Officers Directors$1,421,854$630,989▼ $790,865
Cash and Non-Interest-Bearing Accounts$352,991$209,856▼ $143,135
Land, Buildings, and Equipment, Net$20,748$20,206▼ $542
Prepaid Expenses and Deferred Charges$4,644--
Total Assets$378,383$230,062▼ $148,321
Liabilities
Unsecured Notes Loans Payable$144,156--
Deferred Revenue$57,185$64,000▲ $6,815
Accounts Payable and Accrued Expenses$21,954$6,239▼ $15,715
Other Liabilities$1--
Total Liabilities$1,645,150$701,228▼ $943,922
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,266,767$-471,166▲ $795,601
Total Net Assets Fund Balance$-1,266,767$-471,166▲ $795,601
Total Liabilities and Net Assets / Fund Balance$378,383$230,062▼ $148,321

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$20,206$22,690$42,896
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
John Christopher BezsylkoHead of SchoolFT$210,000$21,926$231,926

Board Members and Trustees

NameTitle
Jingjing XuCEO
Scott BuchholzSecretary
Tuolin ChenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,353,139
Program Service Revenue
$661,330
Investment Income
$45
Other Revenue
$1,300
All Other Contributions
$1,208,983
Change in Net Assets
$795,599
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$940,806
Other Expenses$279,409
Total Fundraising Expense$34,806
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$494,803$72,922$9,115$576,840
Current Officers, Directors, Trustees, and Key Employees$151,237$58,168$23,267$232,672
Occupancy$82,868$4,195-$87,063
Payroll Taxes$46,127$8,718$1,904$56,749
Other Employee Benefits$55,004--$55,004
Fees for Services Accounting-$38,796-$38,796
Interest-$27,192-$27,192
Fees for Services Other$23,260$600-$23,860
Advertising$23,381--$23,381
Pension Plan Contributions$16,571$2,640$330$19,541
Information Technology$13,311--$13,311
Office Expenses$5,543$7,062-$12,605
Depreciation Depletion$12,043--$12,043
Fees for Services Legal-$11,676-$11,676
Insurance$3,979$3,789$190$7,958
Other Expenses$1,086$1,665-$2,751
Total Functional Expenses$946,248$239,161$34,806$1,220,215
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$1,421,854$630,989▼ $790,865
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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 governing body review Part VI line 11

“The board of directors reviews and approves Form 990 after management has reviewed and authorized the filing.”

Conflict of interest policy compliance Part VI line 12C

“Officers and board members are required to voluntarily report any conflict of interest to the board of directors.”

CEO executive director top management comp Part VI line 15A

“The board of directors approves all compensation for officers and key employees.”

Other officer or key employee compensation Part VI line 15B

“The board of directors approves all compensation for officers and key employees.”

Governing documents etc available to public Part VI line 19

“Governing documents and filings are made available on request.”

Filing and Contact Details

Filer

Filer Name
Imagination Lab School
EIN
47-2409286
Address
4000 Middlefield Rd Suite A5, Palo Alto, CA 94303

Signing Officer

Name
Tuolin Chen
Title
Treasurer
Phone
6504608940
Signed
2022-03-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Christopher Bezsylko
Formed
2016
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
3
Employees
9
Volunteers
5

Preparer

Firm
Richard Pon CPA
Address
PO BOX 191254, San Francisco, CA 94119
Preparer
Richard Pon
Phone
4159714610
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“rounding 2”

General explanation attachment

“No extension was filed by November 15, 2021 and therefore the tax return is filed late. The previous business manager was responsible for engaging a tax preparer, however her last day of employment with the school was 6/4/2021. The new business manager, did not start until 12/1/2021, and did not discover that a tax return was not filed until 12/15/2021. We immediately engaged a bookkeeper and tax preparer to begin the process of completing our tax return. Upon receipt of any late filing penalty, we will seek to abate the penalty for reasonable cause as the penalty will provide a severe hardship to our organization.”

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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The organization received a $144,156 Paycheck Protection Program loan that was forgiven June 1, 2021.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1We publicized on a landing page for Admissions related inquiries, not the homepage. The Admission page is typically where visitors will begin the application process. However, on February 23, 2022 this policy was moved to our homepage.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Governmental Agency Financial Aid (Questions 6a and 6b)
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Description of nondiscriminatory policy (Question 3)
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0John Christopher Bezsylko
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Head of School
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0Yinuo Li
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IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0Due to the start-up phase of the school and the high cost of operations in the Silicon Valley, the school needed additional funding sources besides tuition revenue. A school trustee provided a loan to help support the schools operations as the school ramps up new student enrollment and donation programs. This person is no longer a trustee but the loan is still outstanding.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The board of directors reviews and approves Form 990 after management has reviewed and authorized the filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Officers and board members are required to voluntarily report any conflict of interest to the board of directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The board of directors approves all compensation for officers and key employees.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The board of directors approves all compensation for officers and key employees.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Governing documents and filings are made available on request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5rounding 2
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6No extension was filed by November 15, 2021 and therefore the tax return is filed late. The previous business manager was responsible for engaging a tax preparer, however her last day of employment with the school was 6/4/2021. The new business manager, did not start until 12/1/2021, and did not discover that a tax return was not filed until 12/15/2021. We immediately engaged a bookkeeper and tax preparer to begin the process of completing our tax return. Upon receipt of any late filing penalty, we will seek to abate the penalty for reasonable cause as the penalty will provide a severe hardship to our organization.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Explanation of other changes in net assets or fund balances Part XI line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6General explanation attachment
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ReturnHeader/BusinessOfficerGrp/PersonNm0Tuolin Chen
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$230,062
Liabilities
$701,228
Net assets
-$471,166
Revenue
$2,015,814
Expenses
$1,220,215
Net income
$795,599
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.65$0.17$0.47$1.83$2.04$0.21
2024Detailed filing. Detailed filing data is available for this year.$0.80$0.12$0.68$1.74$1.72$0.02
2023Detailed filing. Detailed filing data is available for this year.$0.76$0.09$0.66$0.87$1.73$0.86
2022Detailed filing. Detailed filing data is available for this year.$2.59$1.06$1.52$3.19$1.19$2.00
2021Detailed filing. Detailed filing data is available for this year.$0.23$0.70$0.47$2.02$1.22$0.80
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.38$1.65$1.27$0.72$1.17$0.45
2019Summary only. Only limited summary data is available for this year.$0.08$0.89$0.81$0.68$1.14$0.46
2018Detailed filing. Detailed filing data is available for this year.$0.11$0.46$0.35$0.34$0.51$0.17
2017Detailed filing. Detailed filing data is available for this year.$0.11$0.30$0.18$0.31$0.53$0.22
2016Summary only. Only limited summary data is available for this year.$0.07$0.00$0.09$0.02$0.07