Imagine Academy Corporation
- Assets
- $7.1m
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 124
- Location
- Brooklyn, NY
- Founding
- 12/2008
- Data as of
- 06/2022
- EIN
- 71-0989980
Organization Overview
Imagine Academy Corporation is located in Brooklyn, NY. The organization was established in 2008. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Imagine Academy Corporation employed 124 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Imagine Academy Corporation 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 06/2022, Imagine Academy Corporation generated $5.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $4.5m during the year ending 06/2022. While expenses have increased by 4.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
IMAGINE ACADEMY PROVIDES SPECIAL EDUCATION FOR CHILDREN WITH AUTISM AND OTHER DISABILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAINS AND ORGANIZES DAILY ACTIVITIES OF A SCHOOL FOR CHILDREN WITH AUTISM AND OTHER DISABLITIES.
PROVIDES AFTER-SCHOOL ACTIVITIES FOR CHILDREN WITH AUTISM AND OTHER DISABILITIES.
PROVIDES FUNDING TO CHARITABLE ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Abraham Levi Director Of Motor Department | 35 | $146,242 | |
Elisa Chrem Principal | 35 | $135,597 | |
Sam Sutton Treasurer | OfficerTrustee | 4 | $0 |
David Jemal President | OfficerTrustee | 6 | $0 |
Rebecca Harary Executive Vice President | Trustee | 0.5 | $0 |
Jane Sutton Secretary | Trustee | 1.5 | $0 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $5,903,000 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,903,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $42,154 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,636,570 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $81,065 |
| Payroll taxes | $297,199 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,972 |
| Advertising and promotion | $4,616 |
| Office expenses | $174,094 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $58,853 |
| Travel | $35,600 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,400 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,503 |
| Insurance | $42,478 |
| All other expenses | $0 |
| Total functional expenses | $4,518,438 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,094,701 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,993,160 |
| 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 | $0 |
| Net Land, buildings, and equipment | $9,532 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,097,393 |
| Accounts payable and accrued expenses | $147,061 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $147,061 |
| Net assets without donor restrictions | $6,950,332 |
| 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 | $7,097,393 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Imagine Academy Corporation has recieved totaling $149.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $149 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New Foundations Charter School Marlton, NJ | $17,967,778 | $23,202,828 |
Village Community School New York, NY | $70,966,980 | $22,510,782 |
Lycee International De Boston International School Of Boston Inc Cambridge, MA | $37,411,967 | $19,857,918 |
Speyer Legacy School New York, NY | $16,160,814 | $25,812,126 |
Fenn School Inc Concord, MA | $99,819,486 | $20,241,981 |
Lancaster Country Day School Lancaster, PA | $75,848,302 | $20,350,115 |
Freire Charter School Philadelphia, PA | $7,896,247 | $17,871,218 |
Academy In Manayunk Inc Conshohocken, PA | $64,687,092 | $23,625,839 |
Amistad Academy Inc New Haven, CT | $35,461,697 | $16,961,980 |
Foote School Association Inc New Haven, CT | $45,302,394 | $17,181,198 |
Rumsey Hall School Incorporated Washington Depot, CT | $67,305,104 | $16,603,122 |
Celebrate The Children Inc Denville, NJ | $8,659,449 | $15,671,388 |