Imagine Schools INC

Tax-deductible

Cleveland, OH501(c)(3)Since 1999EducationEIN 04-3466383Revenue $41.6M in FY2024

On file with the IRSimagineschools.org19114 Bella Dr, 44119-3007 · Cleveland, OHTax-exempt since Jul 2015School — 170(b)(1)(A)(ii)

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Imagine Schools INC.'s vision is for every child to reach his or her full potential and discover pathways for life-long success. As a national family of public charter school campuses, Imagine Schools INC.'s mission is to partner with parents and guardians in the education of their children by providing high quality Schools that prepare students for lives of leadership, accomplishment, and exemplary character. Imagine Schools INC. Pursues its mission utilizing the following objectives: create choice for parents and students within the public school system emphasize academic excellence and character development as the essential elements of life-long success encourage innovative teaching practices that individualize learning according to the needs of each student provide a system of accountability for results in public education (I.e. Imagine Schools measures of excellence) support principals, teachers, and school staff as the front-line leaders and decision-makers, who best know the nee

501(c)(3) charity; gifts are tax-deductible.
73¢ of each $1 spent went to programs.
$1.6M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $11.8M a year · 35% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.6M
to officers and key staff · 6% of spending
Top officer’s pay higher than 64% of similar orgs
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $19K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$12.1M
8% of total assets
Looks good: liabilities are 8% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$41.6M
+4% vs prior year
Spent
$26.4M
To programs
73%
Net assets
$135.3M
By yearFY2020–FY2024
Revenue
$41.6M
FY2024▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2020$32.9M
FY2021$30.9M
FY2022$31.9M
FY2023$32.4M
FY2024$40.2M
FY2024$41.6M
Expenses
$26.4M
FY2024▼ -35%
Tap a bar for its year
Expenses by fiscal year
FY2020$15.4M
FY2021$19.0M
FY2022$16.7M
FY2023$17.5M
FY2024$40.7M
FY2024$26.4M
Net assets
$135.3M
FY2024▲ +13%
Tap a bar for its year
Net assets by fiscal year
FY2020$80.7M
FY2021$92.6M
FY2022$107.7M
FY2023$120.7M
FY2024$120.1M
FY2024$135.3M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2015.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $19.3M Management & general 27% · $7.2M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

14 people listed on the 990; $1.6M paid to officers and key staff.

Part VII, Section A · reportable compensation
$295,470Pt VII · Sec A
CEO and Pres
$191,620Pt VII · Sec A
Executive VP
$174,500Pt VII · Sec A
General Coun
$139,025Pt VII · Sec A
Executive VP
$128,305Pt VII · Sec A
Executive VP
$121,270Pt VII · Sec A
Executive VP
$120,600Pt VII · Sec A
Executive VP
$120,600Pt VII · Sec A

Barry Sharp’s $295K as CFO is at the 64th percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Barry Sharp$295,470$284,079$273,842$263,310$263,310$261,300
Jason Bryant$191,620$275,000$161,727$155,507$155,507$147,400
Amy Buttke$174,500$167,500$164,581$106,028$106,028$100,500
Isabel Berio$139,025$133,665$131,277$126,228$126,228$113,900
Nancy Hall—————$134,000
Rodney Sasse$128,305—————
Rod Sasse—$123,280$121,313$116,647$116,647$110,550
Diane Thorne$121,270$116,580$114,693$110,282——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Operates public charter schools, partnering with parents to foster academic excellence and character development for student success.

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Provided by the organization

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1 program · $19.3M · in their own filed words · FY2024
01

To establish and operate public charter schools that provide education to students. Imagine schools inc. Served approximately 14,796 students in grades k-12 across 28 schools in five states during the year ended june 30, 2025.

$19.3Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2020
Total grants receivedfrom 1 funder$19K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$41.6M
Ln 12
Fees for servicesLn 2g$41.4M
Investment incomeLn 3$208K
Money outPt IX
$26.4M
Ln 25
Programscol B$19.3M
Managementcol C$7.2M
Owns and owesPt X
$135.3M
net assets · Ln 32
Cash and savingsLn 1–2$360K
Total assetsLn 16$147.4M
LiabilitiesLn 26$12.1M
PeoplePt VI, VII
14
listed · VII A
PaidVII A11
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$41.4M
Investment incomeLn 3$208K
Total revenueLn 12$41.6M
Assets in detailPt X, end of year
CashLn 1$360K
Cash and savings togetherLn 1–2$360K
Land, buildings, equipmentLn 10c$1.2M
Other assetsLn 15$63.4M
Total assetsLn 16$147.4M
LiabilitiesLn 26$12.1M
Net assetsLn 32$135.3M
OperationsPt I, VI
EmployeesI 52,156
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$500K$360K
Land, buildings, equipmentLn 10c$1.2M$1.2M
Total assetsLn 16$126.7M$147.4M
LiabilitiesLn 26$6.5M$12.1M
Net assetsLn 32$120.1M$135.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$2.3M$2.3M
Other salaries and wagesLn 7$10.1M$8.1M$2.0M
Legal feesLn 11b$57K$45K$11K
Accounting feesLn 11c$966K$773K$193K
Other fees for servicesLn 11g$528K$423K$106K
Advertising and promotionLn 12$171K$137K$34K
Office expensesLn 13$412K$329K$82K
Information technologyLn 14$1.2M$945K$236K
OccupancyLn 16$388K$310K$78K
TravelLn 17$889K$711K$178K
Depreciation, depletion and amortizationLn 22$17K$13K$3K
InsuranceLn 23$71K$57K$14K
Other expenses (24a–d)Ln 24$9.2M$7.3M$1.8M
All other expensesLn 24e$131K$105K$26K
Total functional expensesLn 25$26.4M$19.3M$7.2M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $40.2M$40.7M−$534K$120.1M 990 PDF
FY2023 $32.4M$17.5M$14.9M$120.7M 990 PDF
FY2022 $31.9M$16.7M$15.2M$107.7M 990 PDF
FY2021 $30.9M$19.0M$11.9M$92.6M 990 PDF
FY2020 $32.9M$15.4M$17.4M$80.7M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $41,618,296 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $40,159,383$41,410,752
I-10 Investment income$207,544
I-11 Other revenue$0
I-12 Total revenuePrior year $40,159,383$41,618,296
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $12,464,555$12,449,218
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $28,228,807$13,996,838
I-18 Total expensesPrior year $40,693,362$26,446,056
I-19 Revenue less expensesPrior year −$533,979$15,172,240
Part VI · Governance 3 of 3 board members independent, no flags
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $41,618,296 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $41,410,752$41,410,752
VIII-3 Investment incomeExcluded from tax $207,544$207,544
VIII-12 Total revenueRelated to mission $41,410,752 · Excluded from tax $207,544$41,618,296
Part IX · Statement of functional expenses $26,446,056 across 14 lines filed
IX-5 Pay of current officers, directors and key staffManagement $2,334,000$2,334,000
IX-7 Other salaries and wagesPrograms $8,092,174 · Management $2,023,044$10,115,218
IX-11b Legal feesPrograms $45,220 · Management $11,305$56,525
IX-11c Accounting feesPrograms $773,111 · Management $193,278$966,389
IX-11g Other fees for servicesPrograms $422,694 · Management $105,673$528,367
IX-12 Advertising and promotionPrograms $136,806 · Management $34,201$171,007
IX-13 Office expensesPrograms $329,439 · Management $82,360$411,799
IX-14 Information technologyPrograms $944,532 · Management $236,133$1,180,665
IX-16 OccupancyPrograms $310,250 · Management $77,562$387,812
IX-17 TravelPrograms $711,193 · Management $177,798$888,991
IX-22 Depreciation, depletion and amortizationPrograms $13,454 · Management $3,363$16,817
IX-23 InsurancePrograms $56,865 · Management $14,216$71,081
IX-24 Other expenses (24a–d)Programs $7,348,789 · Management $1,837,198$9,185,987
IX-24e All other expensesPrograms $105,118 · Management $26,280$131,398
IX-25 Total functional expensesPrograms $19,289,645 · Management $7,156,411 · Fundraising $0$26,446,056
Part X · Balance sheet $147,406,159 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $500,210$359,777
X-4 Accounts receivableStart of year $81,623,816$82,393,898
X-9 Prepaid expenses and deferred chargesStart of year $76,105$73,729
X-10c Land, buildings and equipment, netStart of year $1,180,116$1,167,657
X-15 Other assetsStart of year $43,273,259$63,411,098
X-16 Total assetsStart of year $126,653,506$147,406,159
X-17 Accounts payable and accrued expensesStart of year $6,508,257$8,787,707
X-25 Other liabilities$3,300,963
X-26 Total liabilitiesStart of year $6,508,257$12,088,670
X-27 Net assets without donor restrictionsStart of year $239,541$15,411,781
X-28 Net assets with donor restrictionsStart of year $119,905,708$119,905,708
X-32 Total net assets or fund balancesStart of year $120,145,249$135,317,489
X-33 Total liabilities and net assetsStart of year $126,653,506$147,406,159
Part XI · Reconciliation of net assets $135,317,489 net assets at year end
XI-1 Total revenue$41,618,296
XI-2 Total expenses$26,446,056
XI-3 Revenue less expenses$15,172,240
XI-4 Net assets at start of year$120,145,249
XI-10 Net assets at end of year$135,317,489

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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