Destination Imagination Inc
- Assets
- $439.5k
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 18
- Location
- Blackwood, NJ
- Founding
- 08/1988
- Data as of
- 09/2023
- EIN
- 22-2415554
Organization Overview
Destination Imagination Inc is located in Blackwood, NJ. The organization was established in 1988. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 09/2023, Destination Imagination Inc employed 18 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Destination Imagination Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Destination Imagination Inc generated $4.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (12.4%) each year. All expenses for the organization totaled $4.5m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (11.9%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION STATEMENT IS: TO INSPIRE AND EQUIP YOUTH TO IMAGINE AND INNOVATE THROUGH THE CREATIVE PROCESS. WE CREATE A PROGRAM EACH YEAR, DISTRIBUTED PRIMARILY TO SCHOOL OR SCHOOLS DISTRICTS, FOR STUDENTS TO CREATE TEAMS AND WORK ON ONE OF 6 CHALLENGES. FIVE MEET THE STANDARD RUBRICS AND ONE IS SERVICE LEARNING. THE PROGRAM IS DESIGNED TO PROMOTE TEAM WORK AND COLLABORATION AND INCLUDES FIXED OPEN CHALLENGES. TEAMS ARE THEN ABLE TO COMPETE, REGIONALLY, STATE, PROVINCE OR COUNTRY WIDE AGAINST OTHER TEAMS. THE YEAR CULMINATES IN AN INVITATIONAL EVENT FOR ALL OF THE TOP PLACING TEAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GLOBAL FINALS (GF) IS AN ANNUAL LIVE EVENT GF IS A COMPETITION FOR THE WINNERS OF OUR AFFILIATES' LOCAL, STATE, AND REGIONAL CHALLENGE COMPETITIONS FROM AROUND THE WORLD. THESE TOP TEAMS COMPETE IN OUR EDUCATIONAL CHALLENGE PROGRAMS TO DETERMINE TOP TEAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wes Allen Chair | OfficerTrustee | 2 | $0 |
Chuck Good Interim Vice Chair | OfficerTrustee | 2 | $0 |
Michael Jung Secretary | OfficerTrustee | 2 | $0 |
Will Roach Chair Emeritus | Trustee | 2 | $0 |
Muhannad Al-Jarrah Trustee | Trustee | 2 | $0 |
Aimee Barbagallo Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ut Conferences Global Finals Event | 9/29/17 | $8,822,833 |
Nxlevel Inc Graphics At Global Finals Event | 9/29/17 | $269,905 |
Cequix Technology Solutions Llc It Services | 9/29/17 | $148,861 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $663,090 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $663,090 |
| Total Program Service Revenue | $3,605,491 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,164 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $44,814 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,405,585 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $192,651 |
| Compensation of current officers, directors, key employees. | $38,065 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,231,079 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $88,084 |
| Payroll taxes | $120,848 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,289 |
| Fees for services: Accounting | $86,287 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $228,333 |
| Advertising and promotion | $24,006 |
| Office expenses | $7,436 |
| Information technology | $476,979 |
| Royalties | $0 |
| Occupancy | $970,300 |
| Travel | $64,434 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,000 |
| Insurance | $47,651 |
| All other expenses | $430,348 |
| Total functional expenses | $4,523,639 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $207,225 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $125,051 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $84,413 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,823 |
| Total assets | $439,512 |
| Accounts payable and accrued expenses | $199,889 |
| Grants payable | $0 |
| Deferred revenue | $288,772 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $54,096 |
| Total liabilities | $542,757 |
| Net assets without donor restrictions | -$103,245 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $439,512 |