Liabilities / Assets
46th percentile
Higher debt load relative to assets than 46% of similar nonprofits.
Imagine Academy Corporation
990 • Fiscal year 2017 • EIN 71-0989980
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.09x
Liabilities / Revenue
43rd percentile
Higher debt load relative to revenue than 43% of similar nonprofits.
Net Margin
72nd percentile
Higher net margin than 72% of similar nonprofits.
Top Officer Pay
72nd percentile
Higher top officer pay than 72% of similar nonprofits.
Top officer pay equals 3.4% of source-year revenue.
Asset Growth
80th percentile
Faster asset growth than 80% of similar nonprofits.
Revenue Growth
71st percentile
Faster revenue growth than 71% of similar nonprofits.
Balance Sheet
Assets
Up$2,460,344
Up $546,403 (+29%) from 2016
Net Assets
Up$2,230,571
Up $464,487 (+26%) from 2016
Liabilities
Up$229,773
Up $81,916 (+55%) from 2016
Revenue And Expenses
Revenue
Up$3,755,000
Up $547,207 (+17%) from 2016
Expenses
Up$3,290,513
Up $638 (+0.0%) from 2016
Net Income
Up$464,487
Up $546,569 (+666%) from 2016
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2016 to Jun 30, 2017
- Signed
- Mar 22, 2018
- Return Version
- 2016v3.0
- Gross Receipts
- $3,755,000
Mission and Program Overview
Mission
Imagine academy is a non-profit organization that is dedicated to maintaining and running the day-to-day activities of a day school for children with autism and other disabilities.
Imagine academy provides special education for children with autism and other disabilities.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Cash and Non-Interest-Bearing Accounts | $804,666 | $1,319,785 | ▲ $515,119 |
| Accounts Receivable | $1,037,543 | $1,082,756 | ▲ $45,213 |
| Land, Buildings, and Equipment, Net | $71,732 | $57,803 | ▼ $13,929 |
| Total Assets | $1,913,941 | $2,460,344 | ▲ $546,403 |
| Liabilities | |||
| Deferred Revenue | $98,250 | $170,500 | ▲ $72,250 |
| Accounts Payable and Accrued Expenses | $49,607 | $59,273 | ▲ $9,666 |
| Total Liabilities | $147,857 | $229,773 | ▲ $81,916 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $1,766,084 | $2,230,571 | ▲ $464,487 |
| Total Net Assets Fund Balance | $1,766,084 | $2,230,571 | ▲ $464,487 |
| Total Liabilities and Net Assets / Fund Balance | $1,913,941 | $2,460,344 | ▲ $546,403 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $57,803 | $242,108 | $299,911 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Elisa Chrem | Principal | FT | $107,708 | $21,179 | $128,887 |
| Abraham Levi | Director of Motor Department | FT | $127,219 | - | $127,219 |
| Lea Bensinger | Controller | PT | $69,247 | $35,753 | $105,000 |
Board Members and Trustees
| Name | Title |
|---|---|
| David Jemal | President |
| Heather Deutsch | President of Ladies Auxili |
| Rebecca Harary | Executive Vice President |
| Jeffrey Deutsch | Vice President |
| Marvin Dweck | Vice President |
| Wendy Jemal | Vice President |
| Susie Dweck | Assistant Secretary |
| Joseph M Harary | Assistant Treasurer |
| Jane Sutton | Secretary |
| Sam Sutton | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $3,755,000
- Investment Income
- $0
- Other Revenue
- $0
- Change in Net Assets
- $464,487
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $3,755,000
- Revenue Not Reported on Financial Statements
- $0
- Revenue Not Reported on Form 990
- $403,152
- Total Revenue per Audited Statements
- $4,158,152
- Total Revenue per Form 990
- $3,755,000
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $2,662,892 |
| Other Expenses | $569,032 |
| Grants and Similar Amounts Paid | $58,589 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | $2,174,745 | $82,961 | - | $2,257,706 |
| Other Expenses | - | $275,000 | - | $275,000 |
| Current Officers, Directors, Trustees, and Key Employees | $202,487 | $7,024 | - | $209,511 |
| Payroll Taxes | $186,606 | $7,069 | - | $193,675 |
| Office Expenses | $61,153 | $21,843 | - | $82,996 |
| All Other Expenses | $34,883 | $24,083 | - | $58,966 |
| Grants to Domestic Orgs | $58,589 | - | - | $58,589 |
| Travel | $39,503 | - | - | $39,503 |
| Depreciation Depletion | $29,396 | $2,556 | - | $31,952 |
| Insurance | $29,961 | - | - | $29,961 |
| Occupancy | $26,145 | $2,273 | - | $28,418 |
| Fees for Services Accounting | - | $11,000 | - | $11,000 |
| Conferences and Meetings | $7,534 | - | - | $7,534 |
| Fees for Services Other | - | $3,188 | - | $3,188 |
| Other Employee Benefits | $1,870 | $130 | - | $2,000 |
| Advertising | - | $514 | - | $514 |
| Total Functional Expenses | $2,852,872 | $437,641 | $0 | $3,290,513 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $3,789,271 |
| Total Expenses per Form 990 | $3,290,513 |
| Expenses per Audited Statements | $3,231,924 |
| Expenses Not Reported on Form 990 | $557,347 |
| Expenses Not Reported on Financial Statements | $58,589 |
| Other Expense Adjustments | $58,589 |
International Activity
Grant and Assistance Recipients
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Imagine Foundation | Brooklyn, NY | 501(c)(3) | Operating Support | $58,589 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- 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
- Yes
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Section A, Line 2
“The following individuals have a family relationship: a) david j. Jemal and wendy jemal b) joseph m. Harary and rebecca harary c) jeffrey deutsch and heather deutsch d) marvin dweck and susie dweck e) sam sutton and jane sutton”
Form 990, Part VI, Section B, Line 11B
“The 990 is emailed to the board for review prior to submission to the irs. Any questions are addressed to the president, treasurer and/or the controller. After the final 990 is approved by the board it is efiled with the irs.”
Form 990, Part VI, Section B, Line 12C
“A conflict of interest attestation is signed annually by its directors and executive staff and is monitored by the board. Upon disclosure of a financial interest and all material facts, the interested person shall leave the board meeting while the remaining board members determine by means of a vote if a conflict of interest exists. The interested person can make a presentation to the board but subsequently, he/she shall leave the meeting during the determination if a conflict of interest does indeed exist. The president of the board shall appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the board shall determine whether the academy can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If an arrangement cannot reasonably be made with an entity without a conflict, then the board shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the best interest of the academy. If the board has a reasonable cause to believe that a director, officer or member of the executive staff has failed to disclose an actual or possible conflict of interest, it shall inform the individual of the basis for such belief and afford an opportunity to explain the alleged failure to disclose. If, after hearing the response and after making further investigation as warranted by the circumstances, the board determines that an individual who is subjected to this policy has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”
Form 990, Part VI, Section B, Line 15A
“The board reviews the officers' salaries and compares them to others in similar positions. This was last performed in may 2016.”
Form 990, Part VI, Section C, Line 19
“The governing documents, financials statements, and 990 are maintained at the organization's offices and are available upon request.”
Filing and Contact Details
Filer
- Filer Name
- Imagine Academy
- EIN
- 71-0989980
- Phone
- 7183768882
- Address
- 1458 EAST 14TH STREET, BROOKLYN, NY 11230
Signing Officer
- Name
- David Jemal
- Title
- President
- Phone
- 7183768882
- Signed
- 2018-03-22
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- David Jemal
- Formed
- 2005
- Legal Domicile
- Ny
- Voting Board Members
- 10
- Independent Board Members
- 10
- Employees
- 132
- Volunteers
- 10
Preparer
- Firm
- Loeb & Troper Llp
- Address
- 655 THIRD AVENUE 12TH FLOOR, NEW YORK, NY 10017
- Preparer
- Aaron Shapiro
- Phone
- 2128674000
Supplemental Narrative
Additional Explanations
FORM 990, PART XII, LINE 2C:
“The process has not changed from the prior year.”
Financial Statement Notes
PART X, LINE 2:
“Imagine academy, has determined that there are no material uncertain tax positions that require recognition or disclosure in the financial statements. Periods ending june 30, 2014 and subsequent remain subject to examination by applicable taxing authorities.”
PART XI, LINE 2D - OTHER ADJUSTMENTS:
“Revenues of related entity 403,152.”
PART XII, LINE 2D - OTHER ADJUSTMENTS:
“Expenses of related entity 557,347.”
PART XII, LINE 4B - OTHER ADJUSTMENTS:
“Transfer to related organization 58,589.”
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | SECRETARY |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | ASSISTANT SECRETARY |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | PRESIDENT OF LADIES AUXILI |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | PRINCIPAL |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | CONTROLLER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 12 | DIRECTOR OF MOTOR DEPARTMENT |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 1 |
| IRS990/FormationYr | 0 | 2005 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | 0 |
| IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd | 0 | X |
| IRS990/FSAuditedInd | 0 | 1 |
| IRS990/FundraisingActivitiesInd | 0 | 0 |
| IRS990/GamingActivitiesInd | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 10 |
| IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt | 0 | 58589 |
| IRS990/GrantsToDomesticOrgsGrp/TotalAmt | 0 | 58589 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 1 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossReceiptsAmt | 0 | 3755000 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 1 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 0 |
| IRS990/IndependentVotingMemberCnt | 0 | 10 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 2 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIIInd | 0 | X |
| IRS990/InsuranceGrp/ProgramServicesAmt | 0 | 29961 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 29961 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/IRPDocumentCnt | 0 | 1 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 242108 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 71732 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 57803 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 299911 |
| IRS990/LegalDomicileStateCd | 0 | NY |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 0 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | IMAGINE ACADEMY IS A NONPROFIT ORGANIZATION THAT IS DEDICATED TO MAINTAINING AND RUNNING THE DAY TO DAY ACTIVITIES OF A DAY SCHOOL FOR CHILDREN WITH AUTISM AND OTHER DISABILITIES. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 1766084 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 2230571 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 2273 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 26145 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 28418 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 21843 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 61153 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 82996 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsSFAS117Ind | 0 | X |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 130 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 1870 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 2000 |
| IRS990/OtherExpensesGrp/Desc | 0 | BAD DEBT |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 275000 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 275000 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 82961 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 2174745 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 2257706 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 7069 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 186606 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 193675 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrincipalOfficerNm | 0 | DAVID JEMAL |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 611110 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | TUITION AND FEES |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 3755000 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 3755000 |
| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | PROVIDES AFTER-SCHOOL ACTIVITIES FOR APPROXIMATELY 23 CHILDREN WITH AUTISM AND OTHER DISABILITIES. |
| IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt | 0 | 200843 |
| IRS990/ProgSrvcAccomActy3Grp/Desc | 0 | SUPPORT FOR IMAGINE FOUNDATION - IMAGINE ACADEMY PROVIDED A GRANT TO HELP SUPPORT THE WORK OF IMAGINE FOUNDATION IN SERVICING THE AUTISM COMMUNITY. |
| IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt | 0 | 58589 |
| IRS990/ProgSrvcAccomActy3Grp/GrantAmt | 0 | 58589 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 0 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 428373 |
| IRS990/PYInvestmentIncomeAmt | 0 | 0 |
| IRS990/PYOtherExpensesAmt | 0 | 667978 |
| IRS990/PYOtherRevenueAmt | 0 | 0 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 3207793 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -82082 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 2193524 |
| IRS990/PYTotalExpensesAmt | 0 | 3289875 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 3207793 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 464487 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 1 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 0 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 3755000 |
| IRS990ScheduleA/SchoolInd | 0 | X |
| IRS990/ScheduleBRequiredInd | 0 | 0 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 57803 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 242108 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 299911 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 557347 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 58589 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 3231924 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/OtherExpensesIncludedAmt | 0 | 557347 |
| IRS990ScheduleD/OtherExpensesNotIncludedAmt | 0 | 58589 |
| IRS990ScheduleD/OtherRevenueAmt | 0 | 403152 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 403152 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 3755000 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | IMAGINE ACADEMY, HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PERIODS ENDING JUNE 30, 2014 AND SUBSEQUENT REMAIN SUBJECT TO EXAMINATION BY APPLICABLE TAXING AUTHORITIES. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | REVENUES OF RELATED ENTITY 403,152. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 2 | EXPENSES OF RELATED ENTITY 557,347. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 3 | TRANSFER TO RELATED ORGANIZATION 58,589. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART X, LINE 2: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | PART XI, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | PART XII, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | PART XII, LINE 4B - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 57803 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 3290513 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 3755000 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 4158152 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 3789271 |
| IRS990ScheduleE/ComplianceWithRevProc7550Ind | 0 | 1 |
| IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceAthltProgInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEducPlcyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceOtherActyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceSchsInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd | 0 | 0 |
| IRS990ScheduleE/GovernmentFinancialAidRcvdInd | 0 | 0 |
| IRS990ScheduleE/GovernmentFinancialAidRvkdInd | 0 | 0 |
| IRS990ScheduleE/MaintainCpyOfAllSolInd | 0 | 1 |
| IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd | 0 | 1 |
| IRS990ScheduleE/MaintainRacialCompRecsInd | 0 | 1 |
| IRS990ScheduleE/MaintainScholarshipsRecsInd | 0 | 1 |
| IRS990ScheduleE/NondiscriminatoryPolicyStmtInd | 0 | 1 |
| IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd | 0 | 1 |
| IRS990ScheduleE/PolicyStmtInBrochuresEtcInd | 0 | 1 |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 0 | IMAGINE ACADEMY ADVERTISES WITH GOOGLE ADS, THE ADVERTISEMENTS INCLUDE A NOTICE OF THEIR RACIALLY NONDISCRIMINATORY POLICY. THE POLICY CAN ALSO BE FOUND ON THEIR WEBSITE. |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE E, PART I, LINE 3 |
| IRS990ScheduleI/GrantRecordsMaintainedInd | 0 | 1 |
| IRS990ScheduleI/RecipientTable/CashGrantAmt | 0 | 58589 |
| IRS990ScheduleI/RecipientTable/IRCSectionDesc | 0 | 501(C)(3) |
| IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt | 0 | OPERATING SUPPORT |
| IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt | 0 | IMAGINE FOUNDATION |
| IRS990ScheduleI/RecipientTable/RecipientEIN | 0 | 202336717 |
| IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt | 0 | 1458 EAST 14TH STREET |
| IRS990ScheduleI/RecipientTable/USAddress/CityNm | 0 | BROOKLYN |
| IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd | 0 | NY |
| IRS990ScheduleI/RecipientTable/USAddress/ZIPCd | 0 | 11230 |
| IRS990ScheduleI/Total501c3OrgCnt | 0 | 1 |
| IRS990ScheduleI/TotalOtherOrgCnt | 0 | 0 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | THE FOLLOWING INDIVIDUALS HAVE A FAMILY RELATIONSHIP: A) DAVID J. JEMAL AND WENDY JEMAL B) JOSEPH M. HARARY AND REBECCA HARARY C) JEFFREY DEUTSCH AND HEATHER DEUTSCH D) MARVIN DWECK AND SUSIE DWECK E) SAM SUTTON AND JANE SUTTON |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | THE 990 IS EMAILED TO THE BOARD FOR REVIEW PRIOR TO SUBMISSION TO THE IRS. ANY QUESTIONS ARE ADDRESSED TO THE PRESIDENT, TREASURER AND/OR THE CONTROLLER. AFTER THE FINAL 990 IS APPROVED BY THE BOARD IT IS EFILED WITH THE IRS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | A CONFLICT OF INTEREST ATTESTATION IS SIGNED ANNUALLY BY ITS DIRECTORS AND EXECUTIVE STAFF AND IS MONITORED BY THE BOARD. UPON DISCLOSURE OF A FINANCIAL INTEREST AND ALL MATERIAL FACTS, THE INTERESTED PERSON SHALL LEAVE THE BOARD MEETING WHILE THE REMAINING BOARD MEMBERS DETERMINE BY MEANS OF A VOTE IF A CONFLICT OF INTEREST EXISTS. THE INTERESTED PERSON CAN MAKE A PRESENTATION TO THE BOARD BUT SUBSEQUENTLY, HE/SHE SHALL LEAVE THE MEETING DURING THE DETERMINATION IF A CONFLICT OF INTEREST DOES INDEED EXIST. THE PRESIDENT OF THE BOARD SHALL APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE BOARD SHALL DETERMINE WHETHER THE ACADEMY CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF AN ARRANGEMENT CANNOT REASONABLY BE MADE WITH AN ENTITY WITHOUT A CONFLICT, THEN THE BOARD SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE BEST INTEREST OF THE ACADEMY. IF THE BOARD HAS A REASONABLE CAUSE TO BELIEVE THAT A DIRECTOR, OFFICER OR MEMBER OF THE EXECUTIVE STAFF HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL INFORM THE INDIVIDUAL OF THE BASIS FOR SUCH BELIEF AND AFFORD AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD DETERMINES THAT AN INDIVIDUAL WHO IS SUBJECTED TO THIS POLICY HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE BOARD REVIEWS THE OFFICERS' SALARIES AND COMPARES THEM TO OTHERS IN SIMILAR POSITIONS. THIS WAS LAST PERFORMED IN MAY 2016. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE GOVERNING DOCUMENTS, FINANCIALS STATEMENTS, AND 990 ARE MAINTAINED AT THE ORGANIZATION'S OFFICES AND ARE AVAILABLE UPON REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART VI, SECTION A, LINE 2 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, SECTION B, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION B, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PART VI, SECTION B, LINE 15A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PART XII, LINE 2C: |
| IRS990ScheduleR/AssetExchangeInd | 0 | 0 |
| IRS990ScheduleR/AssetPurchaseFromOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/AssetSaleToOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/DivRelatedOrganizationInd | 0 | 0 |
| IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd | 0 | 0 |
| IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd | 0 | 1 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 0 | 1 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt | 0 | IMAGINE ACADEMY CORPORATION |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt | 0 | IMAGINE FOUNDATION |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN | 0 | 202336717 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt | 0 | 501(C)(3) |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd | 0 | NY |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt | 0 | FUNDRAISING TO SUPPORT IMAGINE ACADEMY CORPORATION |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt | 0 | 7 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt | 0 | 1458 EAST 14TH STREET |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm | 0 | BROOKLYN |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd | 0 | NY |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd | 0 | 11230 |
| IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd | 0 | 0 |
| IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/PaidEmployeesSharingInd | 0 | 1 |
| IRS990ScheduleR/PerformOfServicesByOtherOrgInd | 0 | 0 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2017 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $2,460,344
- Liabilities
- $229,773
- Net assets
- $2,230,571
- Revenue
- $3,755,000
- Expenses
- $3,290,513
- Net income
- $464,487