Imagine Prep Coolidge INC

Tax-deductible

Coolidge, AZ501(c)(3)Since 2010EducationEIN 45-2529766

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To operate a not-for-profit charter school and conduct educational research, evaluation, and development activities.

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
Run by 13 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average deficit $16K a year · under 1% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$109K
to officers and key staff · 2% of spending
Top officer’s pay lower than 89% of similar orgs
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.7 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $33K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$8.3M
131% of total assets
Concern: liabilities are 131% of assets; over 80%.
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
$6.3M
-7% vs prior year
Spent
$6.4M
To programs
80%
Net assets
−$1.9M
By yearFY2020–FY2025
Revenue
$6.3M
FY2025▼ -7%
Revenue by fiscal year
FY2020$5.8M
FY2021$6.0M
FY2022$6.3M
FY2023$6.7M
FY2024$6.7M
FY2025$6.3M
Expenses
$6.4M
FY2025▼ -7%
Expenses by fiscal year
FY2020$5.8M
FY2021$6.0M
FY2022$6.3M
FY2023$6.7M
FY2024$6.8M
FY2025$6.4M
Net assets
−$1.9M
FY2025▼ -7%
Net assets by fiscal year
FY2020−$1.8M
FY2021−$1.8M
FY2022−$1.7M
FY2023−$1.7M
FY2024−$1.8M
FY2025−$1.9M

From the FY2025 Form 990 (year ending June 2025) · 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: FY2025. IRS ruling in Apr 2014.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $5.1M Management & general 20% · $1.3M

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

6 people listed on the 990; $109K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$63,827Pt VII · Sec A
Vice Priinci
$45,050Pt VII · Sec A
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Rachael Hernandez’s $64K as Principal is at the 11th percentile of top reported officer pay among 3395 $1–10M 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 · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Angela West————$63,957$125,957
Rachael Hernandez$63,827$89,769$88,339$105,581$49,424—
Michael Astalos$45,050—————

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 15aNo

Programs and updates

Operates a charter school and conducts educational research and development.

Provided by the organization

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1 program service account for $5.1M of program spending, described in the organization's own filed words · FY2024.
01

Operation of a charter school for students in 6TH through 12TH grades.

$5.1Mprogram expense

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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 · FY2024
Total grants receivedfrom 2 funders$33K

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$6.3M
Ln 12
Fees for servicesLn 2g$4.7M
Gifts and grantsLn 1h$1.5M
Other incomeLn 4–11$17K
Money outPt IX
$6.4M
Ln 25
Programscol B$5.1M
Managementcol C$1.3M
Owns and owesPt X
−$1.9M
net assets · Ln 32
Cash and savingsLn 1–2$380K
Total assetsLn 16$6.4M
LiabilitiesLn 26$8.3M
PeoplePt VI, VII
6
listed · VII A
PaidVII A2
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.5M
Government grantsLn 1e$803K
Fees for servicesLn 2g$4.7M
Other incomeLn 4–11$17K
Total revenueLn 12$6.3M
Assets in detailPt X, end of year
CashLn 1$380K
Cash and savings togetherLn 1–2$380K
Land, buildings, equipmentLn 10c$345K
Other assetsLn 15$5.3M
Total assetsLn 16$6.4M
LiabilitiesLn 26$8.3M
Net assetsLn 32−$1.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 613
Fiscal year endsHeaderJune
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 FY25End FY25
Cash and savingsLn 1–2$604K$380K
Land, buildings, equipmentLn 10c$420K$345K
Total assetsLn 16$7.5M$6.4M
LiabilitiesLn 26$9.3M$8.3M
Net assetsLn 32−$1.8M−$1.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$150K$123K$27K
Other salaries and wagesLn 7$2.2M$1.8M$398K
Pension plan contributionsLn 8$35K$29K$6K
Other employee benefitsLn 9$521K$427K$94K
Payroll taxesLn 10$119K$97K$21K
Management feesLn 11a$500K$500K
Other fees for servicesLn 11g$270K$270K
Advertising and promotionLn 12$65K$53K$12K
Office expensesLn 13$42K$42K
OccupancyLn 16$1.1M$1.1M$57K
Depreciation, depletion and amortizationLn 22$132K$125K$7K
InsuranceLn 23$39K$32K$7K
Other expenses (24a–d)Ln 24$815K$797K$18K
All other expensesLn 24e$345K$279K$66K
Total functional expensesLn 25$6.4M$5.1M$1.3M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $6.3M$6.4M−$131K−$1.9M 990 PDF
FY2024 $6.7M$6.8M−$110K−$1.8M 990 PDF
FY2023 $6.7M$6.7M−$8K−$1.7M 990 PDF
FY2022 $6.3M$6.3M$71K−$1.7M 990 PDF
FY2021 $6.0M$6.0M$38K−$1.8M 990 PDF
FY2020 $5.8M$5.8M$42K−$1.8M 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 FY2025 990 (4 parts)
Part VIII · Statement of revenue $6,250,912 across 6 lines filed
VIII-1d Related organizations$740,000
VIII-1e Government grants$803,412
VIII-1h Total contributions, gifts and grants$1,543,412
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,690,800$4,690,800
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $16,700$16,700
VIII-12 Total revenueRelated to mission $4,707,500$6,250,912
Part IX · Statement of functional expenses $6,381,788 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $122,700 · Management $26,935$149,635
IX-7 Other salaries and wagesPrograms $1,811,160 · Management $397,573$2,208,733
IX-8 Pension plan contributionsPrograms $29,058 · Management $6,378$35,436
IX-9 Other employee benefitsPrograms $426,852 · Management $93,699$520,551
IX-10 Payroll taxesPrograms $97,227 · Management $21,343$118,570
IX-11a Management feesManagement $500,151$500,151
IX-11g Other fees for servicesPrograms $269,592$269,592
IX-12 Advertising and promotionPrograms $53,156 · Management $11,669$64,825
IX-13 Office expensesManagement $42,428$42,428
IX-16 OccupancyPrograms $1,083,741 · Management $57,039$1,140,780
IX-22 Depreciation, depletion and amortizationPrograms $125,407 · Management $6,600$132,007
IX-23 InsurancePrograms $31,876 · Management $6,997$38,873
IX-24 Other expenses (24a–d)Programs $796,629 · Management $18,483$815,112
IX-24e All other expensesPrograms $279,093 · Management $66,002$345,095
IX-25 Total functional expensesPrograms $5,126,491 · Management $1,255,297 · Fundraising $0$6,381,788
Part X · Balance sheet $6,377,709 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $604,160$379,861
X-3 Pledges and grants receivableStart of year $202,752$385,260
X-4 Accounts receivableStart of year $1,383$1,383
X-10c Land, buildings and equipment, netStart of year $419,666$345,123
X-15 Other assetsStart of year $6,226,498$5,266,082
X-16 Total assetsStart of year $7,454,459$6,377,709
X-17 Accounts payable and accrued expensesStart of year $461,086$279,076
X-25 Other liabilitiesStart of year $8,812,451$8,048,587
X-26 Total liabilitiesStart of year $9,273,537$8,327,663
X-27 Net assets without donor restrictionsStart of year −$1,846,553−$1,996,503
X-28 Net assets with donor restrictionsStart of year $27,475$46,549
X-32 Total net assets or fund balancesStart of year −$1,819,078−$1,949,954
X-33 Total liabilities and net assetsStart of year $7,454,459$6,377,709
Part XI · Reconciliation of net assets −$1,949,954 net assets at year end
XI-1 Total revenue$6,250,912
XI-2 Total expenses$6,381,788
XI-3 Revenue less expenses−$130,876
XI-4 Net assets at start of year−$1,819,078
XI-10 Net assets at end of year−$1,949,954

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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