Imagine Academy Corporation

“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”

“Organization's process to review form 990 the tax return preparer sends the board of directors a draft copy of the completed tax return for review and comments. After the board of directors approves the return they notify the tax return preparer and a final version of the return is sent to the president. The president then signs the e-file authorization form and returns it to the tax return preparer. The tax return preparer then e-files the return.”

“Enforcement of conflicts policy a conflict of interest attestation is signed annually by the 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 organization can obtain with reasonable effort 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 of interest 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 organization. If the board has a reasonable cause to believe that a director, office 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.”

“Governing documents disclosure explanation upon request the public may view the organization's governing documents and related documents at the address located on page 1 of form 990.”

“Bad debt expense -212,000.”