For Immediate Release:
ARLINGTON, VA (August 23, 2012) — Imagine Schools Non-Profit, Inc. (ISNP) is officially a 501(c)(3) non-profit organization due to a favorable ruling received from the Internal Revenue Service (IRS). The ruling is retroactive to the founding of the organization on August 16, 2005. ISNP, a Virginia-based charter management organization, currently operates 29 public charter schools in four states.
ISNP Board Chairman Robert Haft said, “This is an important milestone for our organization. 501(c)(3) recognition broadens our opportunities to fulfill our mission as a charitable educational organization and strengthens our ability to help each of our students reach his or her full potential and discover the pathways to life-long success.”
Currently, ISNP is a separate yet affiliated organization with Imagine Schools, Inc., which also exists for the educational purpose of operating public charter schools. The favorable IRS ruling on the ISNP application concludes the first step in transitioning the Imagine Schools network to non-profit status. Next up, the ISNP board will take steps to acquire Imagine Schools, Inc., and convert it to a non-profit entity.
Imagine Schools Co-Founder and ISNP Board Member Eileen Bakke remarked, “We are pleased that the IRS approved ISNP as a federal tax-exempt organization. Our entire network continues to serve our common charitable educational purpose to help parents educate their children by providing high quality public charter schools nationwide. Obtaining 501(c)(3) status for ISNP represents a significant step forward in our transition to complete non-profit status.”
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Imagine Schools Non-Profit, Inc. (ISNP) is a national family of 29 public charter schools educating approximately 12,000 students in 4 states. ISNP partners with parents and guardians to educate their children by providing high quality schools that prepare students for lives of leadership, accomplishment, and exemplary character.
For more information, visit the ISNP website at www.imagineschools.org
Contact: Lori Waters