Civic Intelligence

The Education Exchange Inc.

990 • Fiscal year 2020 • EIN 02-0647334

Jul 01, 2019 to Jun 30, 2020 • Filed on Dec 29, 2020

Organization Profilewww.edexri.org
33 North RoadWakefield, RI 02879

(401) 783-0293

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

60th percentile

0.11x

Higher debt load relative to assets than 60% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

45th percentile

0.04x

Higher debt load relative to revenue than 45% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

28th percentile

-5.5%

Higher net margin than 28% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

71st percentile

$59,425

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 10.5% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

3rd percentile

-42%

Faster asset growth than 3% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

39th percentile

-8.7%

Faster revenue growth than 39% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets60th percentile

Assets

Down

$187,262

Down $133,619 (-42%) from 2019

Net Assets

Down

$167,262

Down $31,368 (-16%) from 2019

Liabilities

Down

$20,000

Down $102,251 (-84%) from 2019

Revenue And Expenses
Liabilities / Revenue45th percentileNet Margin28th percentile

Revenue

Down

$567,386

Down $53,945 (-8.7%) from 2019

Expenses

Down

$598,754

Down $17,318 (-2.8%) from 2019

Net Income

Down

-$31,368

Down $36,627 (-696%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400K$300K$200K$100K$0Assets 2012: $153,270Liabilities 2012: $50,146Net Assets 2012: $103,1242012Assets 2013: $172,913Liabilities 2013: $58,641Net Assets 2013: $114,2722013Assets 2014: $173,495Liabilities 2014: $25,420Net Assets 2014: $148,0752014Assets 2015: $175,914Liabilities 2015: $17,381Net Assets 2015: $158,5332015Assets 2016: $169,539Liabilities 2016: $19,189Net Assets 2016: $150,3502016Assets 2017: $217,796Liabilities 2017: $47,376Net Assets 2017: $170,4202017Assets 2018: $243,161Liabilities 2018: $49,790Net Assets 2018: $193,3712018Assets 2019: $320,881Liabilities 2019: $122,251Net Assets 2019: $198,6302019Assets 2020: $187,262Liabilities 2020: $20,000Net Assets 2020: $167,2622020Assets 2021: $305,121Liabilities 2021: $22,420Net Assets 2021: $282,7012021Assets 2022: $217,462Liabilities 2022: $0Net Assets 2022: $217,4622022Assets 2023: $255,354Liabilities 2023: $9,025Net Assets 2023: $246,3292023Assets 2024: $235,172Liabilities 2024: $877Net Assets 2024: $234,2952024Assets 2025: $252,019Liabilities 2025: $0Net Assets 2025: $252,0192025

Highlighted filing

2020

Assets$187,262
Liabilities$20,000
Net Assets$167,262
Open 2020 Filing

Operations Trend

Revenue Growth39th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2012: $446,759Expenses 2012: $430,511Net Income 2012: $16,2482012Revenue 2013: $452,395Expenses 2013: $445,577Net Income 2013: $6,8182013Revenue 2014: $403,680Expenses 2014: $369,877Net Income 2014: $33,8032014Revenue 2015: $384,769Expenses 2015: $374,311Net Income 2015: $10,4582015Revenue 2016: $416,445Expenses 2016: $424,628Net Income 2016: -$8,1832016Revenue 2017: $473,876Expenses 2017: $453,806Net Income 2017: $20,0702017Revenue 2018: $555,346Expenses 2018: $532,395Net Income 2018: $22,9512018Revenue 2019: $621,331Expenses 2019: $616,072Net Income 2019: $5,2592019Revenue 2020: $567,386Expenses 2020: $598,754Net Income 2020: -$31,3682020Revenue 2021: $882,774Expenses 2021: $767,335Net Income 2021: $115,4392021Revenue 2022: $775,866Expenses 2022: $841,105Net Income 2022: -$65,2392022Revenue 2023: $871,777Expenses 2023: $842,910Net Income 2023: $28,8672023Revenue 2024: $828,616Expenses 2024: $840,650Net Income 2024: -$12,0342024Revenue 2025: $685,907Expenses 2025: $668,183Net Income 2025: $17,7242025

Highlighted filing

2020

Revenue$567,386
Expenses$598,754
Net Income-$31,368
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Dec 29, 2020
Return Version
2019v5.1
Gross Receipts
$586,795
Mission and Program Overview

Mission

To provide basic education and job training to adults in southern rhode island.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$111,927$86,106▼ $25,821
Cash and Non-Interest-Bearing Accounts$202$66,338▲ $66,136
Accounts Receivable$205,942$32,008▼ $173,934
Prepaid Expenses and Deferred Charges$0--
Total Assets$320,881$187,262▼ $133,619
Other Assets Total$2,810$2,810→ $0
Liabilities
Other Liabilities$100,000$0▼ $100,000
Accounts Payable and Accrued Expenses$9,110$20,000▲ $10,890
Mortgage Notes Payable Secured by Investment Property$13,141$0▼ $13,141
Total Liabilities$122,251$20,000▼ $102,251
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$155,695$159,394▲ $3,699
Net Assets With Donor Restrictions$42,935$7,868▼ $35,067
Total Net Assets Fund Balance$198,630$167,262▼ $31,368
Total Liabilities and Net Assets / Fund Balance$320,881$187,262▼ $133,619

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,778$60,230-
Leasehold Improvements$83,328$25,934-
Other Assets Org$2,810--
Compensation and Service Providers
Top Officer Pay71st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Cameron EnnisExec Director 7/1/19 - 1/8/20FT$59,425$59,425
Jason ColoniesCurrent - Executive DirectorFT$41,000$41,000

Board Members and Trustees

NameTitle
Etta ZasloffDirector
Gary ComunaleDirector
Michelle ConaryDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$564,172
Program Service Revenue
$9,623
Investment Income
$-6,409
Other Revenue
$0
All Other Contributions
$115,330
Change in Net Assets
$-31,368
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$332,978
Other Expenses$265,776
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$168,348$18,649$0$186,997
Current Officers, Directors, Trustees, and Key Employees$73,266$27,159$0$100,425
Occupancy$46,111$7,886$0$53,997
All Other Expenses$27,164$1,927$0$29,091
Payroll Taxes$23,593$4,730$0$28,323
Other Employee Benefits$14,355$2,878$0$17,233
Fees for Services Other$7,045$1,339$0$8,384
Insurance$3,866$3,876$0$7,742
Advertising$6,698$772$0$7,470
Depreciation Depletion$5,982$431$0$6,413
Travel$4,212$0$0$4,212
Other Expenses$3,173$600$0$3,773
Fees for Services Accounting$0$3,250$0$3,250
Office Expenses$0$1,600$0$1,600
Interest$1,210$164$0$1,374
Total Functional Expenses$522,437$76,317$0$598,754
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit$0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
The Education Exchange Inc
EIN
02-0647334
Phone
4017830293
Address
33 NORTH ROAD, WAKEFIELD, RI 02879

Signing Officer

Name
Jason Colonies
Title
Executive Director
Phone
4017830293
Signed
2020-12-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Colonies
Formed
1978
Legal Domicile
Ri
Voting Board Members
3
Independent Board Members
3
Employees
24
Volunteers
19

Preparer

Firm
Golden Gormly & Company
Address
55 CHERRY LANE SUITE 2A, WAKEFIELD, RI 02879
Preparer
Robert C Golden
Phone
4017831040
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Form 990 is reviewed and approved by the organization's executive director and/or other board members prior to filing.”

Pt VI, Line 12C

“Officers and directors are required to complete conflict of interest documents annually which are kept onfile and made available upon request.”

Pt VI, Line 19

“The organization's governing documents, conflict of interest policies and financial statements are available to the public upon request.”

Pt III, Line 2

“Organization launched a new oyster farming training program.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$187,262
Liabilities
$20,000
Net assets
$167,262
Revenue
$567,386
Expenses
$598,754
Net income
-$31,368
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.52$0.00$2.52$6.86$6.68$0.18
2024Detailed filing. Detailed filing data is available for this year.$2.35$0.01$2.34$8.29$8.41$0.12
2023Detailed filing. Detailed filing data is available for this year.$2.55$0.09$2.46$8.72$8.43$0.29
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.17$0.00$2.17$7.76$8.41$0.65
2021Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$3.05$0.22$2.83$8.83$7.67$1.15
2020Detailed filing. Detailed filing data is available for this year.$1.87$0.20$1.67$5.67$5.99$0.31
2019Detailed filing. Detailed filing data is available for this year.$3.21$1.22$1.99$6.21$6.16$0.05
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.43$0.50$1.93$5.55$5.32$0.23
2017Detailed filing. Detailed filing data is available for this year.$2.18$0.47$1.70$4.74$4.54$0.20
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.70$0.19$1.50$4.16$4.25$0.08
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.76$0.17$1.59$3.85$3.74$0.10
2014Detailed filing. Detailed filing data is available for this year.$1.73$0.25$1.48$4.04$3.70$0.34
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.73$0.59$1.14$4.52$4.46$0.07
2012Summary only. Only limited summary data is available for this year.$1.53$0.50$1.03$4.47$4.31$0.16