Invest Collegiate Imagine Inc
- Assets
- $38.8m
- Revenue
- $14.4m
- Investments
- $0.0
- Employees
- 209
- Location
- Asheville, NC
- Founding
- 02/2018
- Data as of
- 06/2022
- EIN
- 82-2635693
Organization Overview
Invest Collegiate Imagine Inc is located in Asheville, NC. The organization was established in 2018. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Invest Collegiate Imagine Inc employed 209 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Invest Collegiate Imagine 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 06/2022, Invest Collegiate Imagine Inc generated $14.4m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 13.5% each year . All expenses for the organization totaled $15.3m during the year ending 06/2022. While expenses have increased by 11.0% per year over the past 5 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
OPERATION OF A PUBLIC CHARTER SCHOOL, SERVING GRADES K-12, IN ASHVEILLE, NC
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATED AS A PUBLIC CHARTER SCHOOL IN ASHEVILLE, NC SERVING APPROXIMATELY 1,214 STUDENTS FOR THE FISCAL YEAR ENDING 06/30/2022.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura J Townley Headmaster | Officer | 40 | $102,853 |
Adam Kissel Chair | OfficerTrustee | 1.75 | $0 |
Dean Rutter Vice Chair | OfficerTrustee | 1.75 | $0 |
Drew Power Treasurer | OfficerTrustee | 1.75 | $0 |
Caleb Coaplen Secretary | OfficerTrustee | 1.75 | $0 |
Mark Rudolph Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Vanguard Modular Building Systems Llc Rent | 6/29/20 | $348,205 |
Biltmore Commercial Properties Llc Rent | 6/29/20 | $181,931 |
Vanguard Modular Building Systems Llc Rent | 6/29/20 | $348,205 |
Biltmore Commercial Properties Llc Rent | 6/29/20 | $181,931 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,000 |
| Related organizations | $0 |
| Government grants | $13,790,563 |
| All other contributions, gifts, grants, and similar amounts not included above | $132,078 |
| Noncash contributions included in lines 1a–1f | $32,611 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,923,641 |
| Total Program Service Revenue | $316,118 |
| Investment income | $11,175 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $24,708 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $31,661 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,359,175 |
| 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. | $151,269 |
| Compensation of current officers, directors, key employees. | $5,932 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,759,704 |
| Pension plan accruals and contributions | $2,281,509 |
| Other employee benefits | $891,833 |
| Payroll taxes | $606,976 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $21,576 |
| Fees for services: Accounting | $24,425 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $249,490 |
| Advertising and promotion | $2,168 |
| Office expenses | $387,311 |
| Information technology | $44,441 |
| Royalties | $0 |
| Occupancy | $192,855 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $79,125 |
| Interest | $1,522,397 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $720,673 |
| Insurance | $55,089 |
| All other expenses | $17,283 |
| Total functional expenses | $15,331,704 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,989 |
| Savings and temporary cash investments | $3,594,927 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $323,377 |
| 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 | $16,630 |
| Net Land, buildings, and equipment | $21,969,018 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,944,395 |
| Intangible assets | $0 |
| Other assets | $9,919,744 |
| Total assets | $38,770,080 |
| Accounts payable and accrued expenses | $15,564 |
| Grants payable | $0 |
| Deferred revenue | $19,096 |
| Tax-exempt bond liabilities | $25,430,000 |
| 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 | $24,742,906 |
| Total liabilities | $50,207,566 |
| Net assets without donor restrictions | -$14,390,004 |
| Net assets with donor restrictions | $2,952,518 |
| 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 | $38,770,080 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Invest Collegiate Imagine Inc has recieved totaling $2,389.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $2,389 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Drew Charter School Inc Atlanta, GA | $34,692,137 | $41,952,542 |
North Carolina Charter Educational Foundation Inc Mooresville, NC | $93,431,533 | $35,029,413 |
Lead Public Schools Inc Nashville, TN | $24,033,254 | $42,742,487 |
Kipp Nashville Nashville, TN | $80,824,528 | $47,985,945 |
Georgia Connections Academy Charter School Inc Duluth, GA | $22,514,475 | $38,349,918 |
Kindezi School Inc Atlanta, GA | $19,750,427 | $21,363,051 |
Kipp Enc Public Schools Gaston, NC | $35,993,575 | $43,410,261 |
Gestalt Community Schools Memphis, TN | $46,137,229 | $27,266,737 |
Foothills Education Center Inc Athens, GA | $29,237,884 | $30,776,964 |
Kipp Memphis Inc Memphis, TN | $24,468,081 | $25,479,805 |
Valor Collegiate Academies Nashville, TN | $48,008,126 | $29,376,935 |
Triad Math And Science Academy Company Greensboro, NC | $12,436,639 | $25,994,464 |