Imagine Schools
| Company type | Non-profit (since 2015) |
|---|---|
| Industry | Education management organization |
| Founded | 2004 |
| Founder | Dennis Bakke, Eileen Bakke |
| Headquarters | United States |
Area served | United States |
Key people | Dennis Bakke (co-founder) |
| Products | Charter school management (K–8) |
Imagine Schools is a charter management organization operating within the United States, managing 55 schools primarily serving grades K-8 across nine different states. Around 2015, the organization had an enrollment figure close to 29,812 students.
The organization was established by Dennis and Eileen Bakke, with initial funding of $155 million derived from Dennis Bakke’s wealth as co-founder and former CEO of AES Corporation, a multinational energy firm founded in 1981.
History
Beacon Education Management came into existence in 1996. In June 2004, Imagine Schools Inc., under the leadership of Dennis Bakke and co-founded alongside Eileen Bakke, took over Chancellor Beacon Academies, which brought more than 70 charter schools and nearly 20,000 students into their network. By 2008, the number of schools operated by Imagine had grown to 56.
In 2015, Imagine Schools was subject to a $1 million legal judgment concerning a self-dealing arrangement involving facility leases at rates exceeding market value through a subsidiary entity.
Peer group
In the year 2015, Imagine Schools converted to a non-profit tax classification. Comparable non-profit charter management organizations (CMOs) include KIPP, which operated 209 schools, as well as Cosmos.
Organizations focused on for-profit education management (EMOs) provide analogous services; notably, K12 was recognized as the largest for-profit EMO in the United States during 2011–2012, specializing solely in virtual education without managing physical campuses.