Imboden Area Charter School

IRS exemption revoked

Black Rock, AR501(c)(3)EducationEIN 71-0832070Revenue $753K in FY2022

On file with the IRSimbodencharter.com800 Beech St, 72415-9286 · Black Rock, ARTax-exempt since Jul 2001School — 170(b)(1)(A)(ii)

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School for students from kindergarten to sixth grade

100¢ of each $1 spent went to programs.
Run by 11 volunteers and 11 employees.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 3
filings with a surplus
Average surplus $28K a year · 4% of revenue · last 3 filings
Looks good: a surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 5.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$11K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$753K
+24% vs prior year
Spent
$728K
To programs
100%
Net assets
$361K
By yearFY2020–FY2022
Revenue
$753K
FY2022▲ +24%
Tap a bar for its year
Revenue by fiscal year
FY2020$594K
FY2021$607K
FY2022$753K
Expenses
$728K
FY2022▲ +26%
Tap a bar for its year
Expenses by fiscal year
FY2020$567K
FY2021$575K
FY2022$728K
Net assets
$361K
FY2022▲ +6%
Tap a bar for its year
Net assets by fiscal year
FY2020$311K
FY2021$340K
FY2022$361K

From the FY2022 Form 990 (year ending June 2022) · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on November 15, 2025

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2022. IRS ruling in Jul 2001.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $728K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Matthew Wells’s $47K as Director is at the 38th percentile of top reported officer pay among 1613 $100K–1M 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 · 1 named individual · Part VII

NameFY2021FY2020
Matthew Wells$47,305$72,046

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

Educates children from kindergarten through sixth grade.

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Provided by the organization

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1 program · $728K · in their own filed words · FY2021
01

Operated charter school for kindergarten throughsixth grade students. The school provides educational oppurtunities using alternativemethods as well as standard teaching methods

$728Kprogram expense

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$753K
Ln 12
Gifts and grantsLn 1h$752K
Investment incomeLn 3$189
Money outPt IX
$728K
Ln 25
Programscol B$728K
Owns and owesPt X
$361K
net assets · Ln 32
Cash and savingsLn 1–2$309K
Total assetsLn 16$373K
LiabilitiesLn 26$11K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$752K
Government grantsLn 1e$750K
Fundraising eventsLn 1c$3K
Investment incomeLn 3$189
Total revenueLn 12$753K
Assets in detailPt X, end of year
CashLn 1$309K
Cash and savings togetherLn 1–2$309K
Land, buildings, equipmentLn 10c$56K
Total assetsLn 16$373K
LiabilitiesLn 26$11K
Net assetsLn 32$361K
OperationsPt I, VI
EmployeesI 511
VolunteersI 611
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$231K$309K
Land, buildings, equipmentLn 10c$96K$56K
Total assetsLn 16$344K$373K
LiabilitiesLn 26$4K$11K
Net assetsLn 32$340K$361K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$511K$511K
OccupancyLn 16$95K$95K
Depreciation, depletion and amortizationLn 22$48K$48K
All other expensesLn 24e$74K$74K
Total functional expensesLn 25$728K$728K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest Viewing $753K$728K$25K$361K 990 PDF
FY2021 $607K$575K$32K$340K 990 PDF
FY2020 $594K$567K$27K$311K 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 FY2022 990 (6 parts)
Part I · Summary $752,525 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $607,104$752,336
I-9 Program service revenue$0
I-10 Investment incomePrior year $122$189
I-11 Other revenue$0
I-12 Total revenuePrior year $607,226$752,525
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $433,275$511,212
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $142,093$216,413
I-18 Total expensesPrior year $575,368$727,625
I-19 Revenue less expensesPrior year $31,858$24,900
Part VI · Governance 4 of 4 board members independent, 3 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $752,525 across 6 lines filed
VIII-1c Fundraising events$2,713
VIII-1e Government grants$749,518
VIII-1f All other contributions, gifts and grants$105
VIII-1h Total contributions, gifts and grants$752,336
VIII-3 Investment incomeRelated to mission $189$189
VIII-12 Total revenueRelated to mission $189 · Unrelated business $0 · Excluded from tax $0$752,525
Part IX · Statement of functional expenses $727,625 across 4 lines filed
IX-7 Other salaries and wagesPrograms $511,212$511,212
IX-16 OccupancyPrograms $94,504$94,504
IX-22 Depreciation, depletion and amortizationPrograms $47,965$47,965
IX-24e All other expensesPrograms $73,944$73,944
IX-25 Total functional expensesPrograms $727,625 · Management $0 · Fundraising $0$727,625
Part X · Balance sheet $372,790 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $230,566$308,566
X-3 Pledges and grants receivableStart of year $17,319$8,393
X-10c Land, buildings and equipment, netStart of year $95,926$55,831
X-16 Total assetsStart of year $343,916$372,790
X-17 Accounts payable and accrued expensesStart of year $4,107$11,399
X-26 Total liabilitiesStart of year $4,107$11,399
X-32 Total net assets or fund balancesStart of year $339,809$361,391
X-33 Total liabilities and net assetsStart of year $343,916$372,790
Part XI · Reconciliation of net assets $361,391 net assets at year end
XI-1 Total revenue$752,525
XI-2 Total expenses$727,625
XI-3 Revenue less expenses$24,900
XI-4 Net assets at start of year$339,809
XI-9 Other changes in net assets−$3,318
XI-10 Net assets at end of year$361,391

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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