Imagine Prep Coolidge INC FY2024 filing

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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.
82¢ of each $1 spent went to programs.
$90K 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
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
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$90K
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
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
$9.3M
124% of total assets
Concern: liabilities are 124% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.7M
+0.6% vs prior year
Spent
$6.8M
To programs
82%
Net assets
−$1.8M
By yearFY2020–FY2025
Revenue
$6.7M
FY2024▲ +0.6%
Tap a bar for its year
Revenue by fiscal year
FY2020$5.8M
FY2021$6.0M
FY2022$6.3M
FY2023$6.7M
FY2024$6.7M
FY2025$6.3M
Expenses
$6.8M
FY2024▲ +2%
Tap a bar for its year
Expenses by fiscal year
FY2020$5.8M
FY2021$6.0M
FY2022$6.3M
FY2023$6.7M
FY2024$6.8M
FY2025$6.4M
Net assets
−$1.8M
FY2024▼ -6%
Tap a bar for its year
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 FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

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

82 cents of each dollar spent went to programs.

Program services 82% · $5.6M Management & general 18% · $1.2M

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

6 people listed on the 990; $90K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$89,769Pt VII · Sec A
Secretary
$0Pt 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.

See Imagine Prep Coolidge INC executive salaries →

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.

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1 program · $5.6M · in their own filed words · FY2023
01

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

$5.6Mprogram 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 · FY2024
Total grants receivedfrom 2 funders$33K

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2025 · $799K federal money spent
National School Lunch ProgramDepartment of Agriculture · ALN 10.555 · Through Arizona Department of Education$364K
Title I Grants to Local Educational AgenciesDepartment of Education · ALN 84.010 · Through Arizona Department of Education$184K
Twenty-First Century Community Learning CentersDepartment of Education · ALN 84.287 · Through Arizona Department of Education$104K
Special Education Grants to StatesDepartment of Education · ALN 84.027 · Through Arizona Department of Education$74K
Rural EducationDepartment of Education · ALN 84.358 · Through Arizona Department of Education$48K

Plus 1 smaller program.

The auditor reported no findings.

Year ending Jun 2024 · $1.1M federal money spent
National School Lunch ProgramDepartment of Agriculture · ALN 10.555 · Through Arizona Department of Education$317K
American Rescue Plan Elementary and Secondary School Emergency Relief (arp Esser) FundDepartment of Education · ALN 84.425 · Through Arizona Department of Education$260K
Title I Grants to Local Educational AgenciesDepartment of Education · ALN 84.010 · Through Arizona Department of Education$233K
Twenty-First Century Community Learning CentersDepartment of Education · ALN 84.287 · Through Arizona Department of Education$147K
Special Education Grants to StatesDepartment of Education · ALN 84.027 · Through Arizona Department of Education$87K

Plus 2 smaller programs.

The auditor reported no findings.

Year ending Jun 2023 · $1.4M federal money spent
Education Stabilization FundDepartment of Education · ALN 84.425 · Through Arizona Department of Education$570K
National School Lunch ProgramDepartment of Agriculture · ALN 10.555 · Through Arizona Department of Education$286K
Title I Grants to Local Educational AgenciesDepartment of Education · ALN 84.010 · Through Arizona Department of Education$226K
Twenty-First Century Community Learning CentersDepartment of Education · ALN 84.287 · Through Arizona Department of Education$128K
Special Education_grants to StatesDepartment of Education · ALN 84.027 · Through Arizona Department of Education$84K

Plus 3 smaller programs.

The auditor reported no findings.

Year ending Jun 2022 · $1.7M federal money spent
Education Stabilization FundDepartment of Education · ALN 84.425 · Through Arizona Department of Education$680K
National School Lunch ProgramDepartment of Agriculture · ALN 10.555 · Through Arizona Department of Education$428K
Title I Grants to Local Educational AgenciesDepartment of Education · ALN 84.010 · Through Arizona Department of Education$273K
Twenty-First Century Community Learning CentersDepartment of Education · ALN 84.287 · Through Arizona Department of Education$141K
Special Education_grants to StatesDepartment of Education · ALN 84.027 · Through Arizona Department of Education$108K

Plus 2 smaller programs.

The auditor reported no findings.

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$6.7M
Ln 12
Fees for servicesLn 2g$4.4M
Gifts and grantsLn 1h$2.4M
Other incomeLn 4–11$17K
Money outPt IX
$6.8M
Ln 25
Programscol B$5.6M
Managementcol C$1.2M
Owns and owesPt X
−$1.8M
net assets · Ln 32
Cash and savingsLn 1–2$604K
Total assetsLn 16$7.5M
LiabilitiesLn 26$9.3M
PeoplePt VI, VII
6
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.4M
Government grantsLn 1e$1.1M
Fees for servicesLn 2g$4.4M
Other incomeLn 4–11$17K
Total revenueLn 12$6.7M
Assets in detailPt X, end of year
CashLn 1$604K
Cash and savings togetherLn 1–2$604K
Land, buildings, equipmentLn 10c$420K
Other assetsLn 15$6.2M
Total assetsLn 16$7.5M
LiabilitiesLn 26$9.3M
Net assetsLn 32−$1.8M
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 FY24End FY24
Cash and savingsLn 1–2$1.2M$604K
Land, buildings, equipmentLn 10c$387K$420K
Total assetsLn 16$8.9M$7.5M
LiabilitiesLn 26$10.6M$9.3M
Net assetsLn 32−$1.7M−$1.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$115K$94K$21K
Other salaries and wagesLn 7$2.6M$2.2M$476K
Pension plan contributionsLn 8$49K$41K$9K
Other employee benefitsLn 9$627K$514K$113K
Payroll taxesLn 10$160K$131K$29K
Management feesLn 11a$470K$470K
Legal feesLn 11b$4K$4K
Accounting feesLn 11c$15K$15K
Other fees for servicesLn 11g$269K$269K
Advertising and promotionLn 12$28K$28K
OccupancyLn 16$1.1M$1.1M
InterestLn 20$396$396
Depreciation, depletion and amortizationLn 22$124K$118K$6K
InsuranceLn 23$40K$4K$36K
Other expenses (24a–d)Ln 24$752K$742K$10K
All other expensesLn 24e$388K$337K$51K
Total functional expensesLn 25$6.8M$5.6M$1.2M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Mar 11, 2026 $6.3M$6.4M−$131K−$1.9M 990 PDF
FY2024 ViewingFiled with the IRS May 8, 2025 $6.7M$6.8M−$110K−$1.8M 990 PDF
FY2023Filed with the IRS Apr 29, 2024 $6.7M$6.7M−$8K−$1.7M 990 PDF
FY2022Filed with the IRS May 2, 2023 $6.3M$6.3M$71K−$1.7M 990 PDF
FY2021Filed with the IRS May 10, 2022 $6.0M$6.0M$38K−$1.8M 990 PDF
FY2020Filed with the IRS Mar 25, 2021 $5.8M$5.8M$42K−$1.8M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $6,720,393 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,834,135$2,350,401
I-9 Program service revenuePrior year $4,844,098$4,353,270
I-10 Investment income$0
I-11 Other revenuePrior year $400$16,722
I-12 Total revenuePrior year $6,678,633$6,720,393
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $3,202,030$3,597,111
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $3,484,747$3,233,188
I-18 Total expensesPrior year $6,686,777$6,830,299
I-19 Revenue less expensesPrior year −$8,144−$109,906
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $6,720,393 across 6 lines filed
VIII-1d Related organizations$1,250,000
VIII-1e Government grants$1,100,401
VIII-1h Total contributions, gifts and grants$2,350,401
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,353,270$4,353,270
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $16,722$16,722
VIII-12 Total revenueRelated to mission $4,369,992$6,720,393
Part IX · Statement of functional expenses $6,830,299 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $93,904 · Management $20,613$114,517
IX-7 Other salaries and wagesPrograms $2,170,148 · Management $476,373$2,646,521
IX-8 Pension plan contributionsPrograms $40,511 · Management $8,893$49,404
IX-9 Other employee benefitsPrograms $513,961 · Management $112,821$626,782
IX-10 Payroll taxesPrograms $131,107 · Management $28,780$159,887
IX-11a Management feesManagement $470,315$470,315
IX-11b Legal feesPrograms $3,853$3,853
IX-11c Accounting feesPrograms $15,200$15,200
IX-11g Other fees for servicesPrograms $268,696$268,696
IX-12 Advertising and promotionPrograms $27,941$27,941
IX-16 OccupancyPrograms $1,143,094$1,143,094
IX-20 InterestPrograms $396$396
IX-22 Depreciation, depletion and amortizationPrograms $117,565 · Management $6,188$123,753
IX-23 InsurancePrograms $4,036 · Management $36,326$40,362
IX-24 Other expenses (24a–d)Programs $741,583 · Management $10,246$751,829
IX-24e All other expensesPrograms $336,947 · Management $50,802$387,749
IX-25 Total functional expensesPrograms $5,608,942 · Management $1,221,357 · Fundraising $0$6,830,299
Part X · Balance sheet $7,454,459 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $1,216,556$604,160
X-3 Pledges and grants receivableStart of year $108,242$202,752
X-4 Accounts receivableStart of year $1,383$1,383
X-10c Land, buildings and equipment, netStart of year $386,843$419,666
X-15 Other assetsStart of year $7,161,092$6,226,498
X-16 Total assetsStart of year $8,874,116$7,454,459
X-17 Accounts payable and accrued expensesStart of year $421,957$461,086
X-25 Other liabilitiesStart of year $10,161,331$8,812,451
X-26 Total liabilitiesStart of year $10,583,288$9,273,537
X-27 Net assets without donor restrictionsStart of year −$2,042,730−$1,846,553
X-28 Net assets with donor restrictionsStart of year $333,558$27,475
X-32 Total net assets or fund balancesStart of year −$1,709,172−$1,819,078
X-33 Total liabilities and net assetsStart of year $8,874,116$7,454,459
Part XI · Reconciliation of net assets −$1,819,078 net assets at year end
XI-1 Total revenue$6,720,393
XI-2 Total expenses$6,830,299
XI-3 Revenue less expenses−$109,906
XI-4 Net assets at start of year−$1,709,172
XI-10 Net assets at end of year−$1,819,078

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

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