Invest Collegiate Imagine Inc
- Assets
- $39.4m
- Revenue
- $15.1m
- Investments
- $0.0
- Employees
- 241
- Location
- Asheville, NC
- Founding
- 02/2018
- Data as of
- 06/2023
- 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 06/2023, Invest Collegiate Imagine Inc employed 241 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 06/2023, Invest Collegiate Imagine Inc generated $15.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $15.5m during the year ending 06/2023. While expenses have increased by 9.3% per year over the past 6 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
2023
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 1,200 STUDENTS FOR THE FISCAL YEAR ENDING 06/30/2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Berls Chair | OfficerTrustee | 1.75 | $0 |
Adam Kissel Vice Chair | OfficerTrustee | 1.75 | $0 |
Dena Rutter Secretary | OfficerTrustee | 1.75 | $0 |
Mia Strauss Treasurer | OfficerTrustee | 1.75 | $0 |
Caleb Coaplen Board Member | Trustee | 1 | $0 |
Mark Rudolph Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Biltmore Commercial Properties Llc Rent | 6/29/20 | $181,931 |
Vanguard Modular Building Systems Llc Rent | 6/29/20 | $348,205 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $13,908,171 |
| All other contributions, gifts, grants, and similar amounts not included above | $70,598 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,978,769 |
| Total Program Service Revenue | $689,016 |
| Investment income | $95,138 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $117,861 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $23,391 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,061,616 |
| 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. | $155,490 |
| Compensation of current officers, directors, key employees. | $6,735 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,593,838 |
| Pension plan accruals and contributions | $2,526,533 |
| Other employee benefits | $901,697 |
| Payroll taxes | $623,311 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $43,784 |
| Fees for services: Accounting | $30,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,945 |
| Office expenses | $0 |
| Information technology | $143,085 |
| Royalties | $0 |
| Occupancy | $257,675 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,508,422 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $745,551 |
| Insurance | $59,764 |
| All other expenses | $0 |
| Total functional expenses | $15,523,679 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,651 |
| Savings and temporary cash investments | $3,517,439 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $591,503 |
| 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 | $21,531,777 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,263,064 |
| Intangible assets | $0 |
| Other assets | $10,467,491 |
| Total assets | $39,395,925 |
| Accounts payable and accrued expenses | $41,871 |
| Grants payable | $0 |
| Deferred revenue | $8,753 |
| Tax-exempt bond liabilities | $25,210,000 |
| 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 | $26,034,850 |
| Total liabilities | $51,295,474 |
| Net assets without donor restrictions | -$15,162,613 |
| Net assets with donor restrictions | $3,263,064 |
| 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 | $39,395,925 |