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Nonprofiteer
← IMAGINE PREP SUPERSTITION INC

Form 990 for tax year 2024

Filed by IMAGINE PREP SUPERSTITION INC.

Totals

Total revenue
$4,551,114
Total expenses
$4,625,618
Contributions and grants received
$875,887
Grants paid
$0
Program service revenue
$3,262,751
Investment income
$0
Other revenue
$412,476
Total assets, end of year
$9,549,948
Total liabilities, end of year
$10,604,840
Net assets or fund balances, end of year
-$1,054,892
Program services expenses (Part IX)
$3,584,666
Management and general expenses
$1,040,952
Fundraising expenses
$0
Program service expenses (Part III)
$3,584,666

Program services were 77.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $475,000

  • 1e · Government grants (contributions)

    $398,687

  • 1f · All other contributions, gifts and grants

    $2,200

  • 2a · Program service revenue: STATE REVENUE

    total $2,844,385 · related or exempt $2,844,385

  • 2b · Program service revenue: CLASSROOM SITE FUND

    total $280,951 · related or exempt $280,951

  • 2c · Program service revenue: STUDENT ACTIVITIES

    total $60,203 · related or exempt $60,203

  • 2d · Program service revenue: FOOD SERVICE

    total $43,658 · related or exempt $43,658

  • 2e · Program service revenue: INSTRUCTIONAL IMPROVEMENT FUN

    total $21,455 · related or exempt $21,455

  • 2f · All other program service revenue

    total $12,099 · related or exempt $12,099

  • 6a · Gross rents

    real property $347,643

  • 6c · Rental income or loss

    real property $347,643

  • 6d · Net rental income or loss

    total $347,643 · related or exempt $347,643

  • 11a · Other revenue: OTHER

    total $64,833 · related or exempt $64,833

  • 11e · Other revenue, total

    $64,833

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $80,176 · program services $69,292 · management and general $10,884

  • 7 · Other salaries and wages

    total $1,494,052 · program services $1,291,234 · management and general $202,818

  • 8 · Pension plan contributions

    total $71,185 · program services $47,754 · management and general $23,431

  • 9 · Other employee benefits

    total $393,387 · program services $263,901 · management and general $129,486

  • 10 · Payroll taxes

    total $120,785 · program services $81,028 · management and general $39,757

  • 11a · Fees: management

    total $341,763 · management and general $341,763

  • 11b · Fees: legal

    total $138 · management and general $138

  • 11c · Fees: accounting

    total $14,600 · management and general $14,600

  • 11g · Fees: other

    total $176,353 · program services $172,923 · management and general $3,430

  • 12 · Advertising and promotion

    total $59,087 · program services $53,178 · management and general $5,909

  • 13 · Office expenses

    total $50,727 · management and general $50,727

  • 16 · Occupancy

    total $933,952 · program services $840,557 · management and general $93,395

  • 20 · Interest

    total $9,784 · management and general $9,784

  • 22 · Depreciation, depletion and amortization

    total $83,902 · program services $75,512 · management and general $8,390

  • 23 · Insurance

    total $97,767 · program services $87,990 · management and general $9,777

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $168,673 · program services $151,806 · management and general $16,867

  • 24b · Other expenses: FOOD SERVICE

    total $166,458 · program services $166,458

  • 24c · Other expenses: TRANSPORTATION

    total $85,047 · program services $85,047

  • 24d · Other expenses: UTILITIES

    total $81,127 · program services $73,014 · management and general $8,113

  • 24e · All other expenses

    total $196,655 · program services $124,972 · management and general $71,683

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $459,779 · end of year $441,080

  • 3 · Pledges and grants receivable

    beginning of year $95,303 · end of year $112,989

  • 4 · Accounts receivable

    beginning of year $10,587 · end of year $12,417

  • 9 · Prepaid expenses and deferred charges

    end of year $3,378

  • 10a · Land, buildings and equipment: cost or other basis

    $1,723,666

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,473,177

  • 10c · Land, buildings and equipment, net

    beginning of year $206,214 · end of year $250,489

  • 15 · Other assets

    beginning of year $9,462,044 · end of year $8,729,595

  • 17 · Accounts payable and accrued expenses

    beginning of year $234,912 · end of year $325,375

  • 19 · Deferred revenue

    end of year $2,918

  • 25 · Other liabilities

    beginning of year $10,979,403 · end of year $10,276,547

  • 27 · Net assets without donor restrictions

    beginning of year -$1,091,680 · end of year -$1,137,231

  • 28 · Net assets with donor restrictions

    beginning of year $111,292 · end of year $82,339

Mission and programs · 2024

Mission

TO OPERATE A NOT FOR PROFIT CHARTER SCHOOL AND CONDUCT EDUCATIONAL RESEARCH, EVALUATION, AND DEVELOPMENT ACTIVITIES.

  • OPERATION OF A CHARTER SCHOOL FOR STUDENTS IN 9TH THROUGH 12TH GRADE.

    Expenses $3,584,666 · Revenue $3,262,751

As filed on the 2024 return.

Listed in Part VII

  • Laila Valencia

    PRINCIPAL

    Total calculated
    $114,257
    From this org
    $63,846
    From related orgs
    $27,139
    Other
    $23,272
    Hours/week
    28 + 12 related

  • Shannon Heinze

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Kimberly Kalec

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Herman Orcutt

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Scott Roney

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
10 March 2026
IRS schema version
2024v5.0
Source object
202620709349300032

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