Civic Intelligence

Balamand Educational Foundation Inc.

990 • Fiscal year 2020 • EIN 04-3296470

Jan 01, 2020 to Dec 31, 2020 • Filed on Aug 09, 2021

15 Railroad DrNorthborough, MA 01532

(800) 713-3015

Siviq Scores

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

Liabilities / Assets

7th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

7th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

93rd percentile

59%

Higher net margin than 93% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

57th percentile

8.9%

Faster asset growth than 57% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

93rd percentile

91%

Faster revenue growth than 93% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Assets

Up

$5,173,999

Up $424,573 (+8.9%) from 2019

Net Assets

Up

$5,173,999

Up $424,573 (+8.9%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue

Up

$490,804

Up $233,675 (+91%) from 2019

Expenses

Down

$203,535

Down $21,769 (-9.7%) from 2019

Net Income

Up

$287,269

Up $255,444 (+803%) from 2019

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2010: $2,236,660Liabilities 2010: $0Net Assets 2010: $2,236,6602010Assets 2011: $2,283,457Liabilities 2011: $0Net Assets 2011: $2,283,4572011Assets 2012: $2,473,419Liabilities 2012: $0Net Assets 2012: $2,473,4192012Assets 2013: $3,535,657Liabilities 2013: $0Net Assets 2013: $3,535,6572013Assets 2014: $3,550,744Liabilities 2014: $0Net Assets 2014: $3,550,7442014Assets 2015: $3,307,856Liabilities 2015: $0Net Assets 2015: $3,307,8562015Assets 2016: $3,387,736Liabilities 2016: $0Net Assets 2016: $3,387,7362016Assets 2017: $4,375,753Liabilities 2017: $0Net Assets 2017: $4,375,7532017Assets 2018: $4,130,486Liabilities 2018: $0Net Assets 2018: $4,130,4862018Assets 2019: $4,749,426Liabilities 2019: $0Net Assets 2019: $4,749,4262019Assets 2020: $5,173,999Liabilities 2020: $0Net Assets 2020: $5,173,9992020Assets 2021: $5,797,001Liabilities 2021: $0Net Assets 2021: $5,797,0012021Assets 2022: $4,570,353Liabilities 2022: $0Net Assets 2022: $4,570,3532022Assets 2023: $5,306,582Liabilities 2023: $0Net Assets 2023: $5,306,5822023Assets 2024: $5,769,022Liabilities 2024: $0Net Assets 2024: $5,769,0222024

Highlighted filing

2020

Assets$5,173,999
Liabilities$0
Net Assets$5,173,999

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $162,6612010Expenses 2011: $8,4232011Expenses 2012: $22,0072012Revenue 2013: $1,071,507Expenses 2013: $203,826Net Income 2013: $867,6812013Revenue 2014: $223,060Expenses 2014: $227,871Net Income 2014: -$4,8112014Revenue 2015: $300,170Expenses 2015: $353,796Net Income 2015: -$53,6262015Revenue 2016: $117,933Expenses 2016: $175,144Net Income 2016: -$57,2112016Revenue 2017: $859,979Expenses 2017: $158,482Net Income 2017: $701,4972017Revenue 2018: $296,503Expenses 2018: $186,402Net Income 2018: $110,1012018Revenue 2019: $257,129Expenses 2019: $225,304Net Income 2019: $31,8252019Revenue 2020: $490,804Expenses 2020: $203,535Net Income 2020: $287,2692020Revenue 2021: $455,892Expenses 2021: $164,702Net Income 2021: $291,1902021Revenue 2022: $344,516Expenses 2022: $311,059Net Income 2022: $33,4572022Revenue 2023: $185,829Expenses 2023: $33,758Net Income 2023: $152,0712023Revenue 2024: $492,030Expenses 2024: $189,890Net Income 2024: $302,1402024

Highlighted filing

2020

Revenue$490,804
Expenses$203,535
Net Income$287,269
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Aug 9, 2021
Return Version
2020v4.1
Gross Receipts
$2,598,477
Mission and Program Overview

Mission

To provide funding for educational institutions in developing countries.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$4,690,874$5,031,625▲ $340,751
Cash and Non-Interest-Bearing Accounts$20,454$142,374▲ $121,920
Savings and Temporary Cash Investments$38,098--
Total Assets$4,749,426$5,173,999▲ $424,573
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$4,059,675$4,397,491▲ $337,816
Net Assets Without Donor Restrictions$689,751$776,508▲ $86,757
Total Net Assets Fund Balance$4,749,426$5,173,999▲ $424,573
Total Liabilities and Net Assets / Fund Balance$4,749,426$5,173,999▲ $424,573

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$1,655,000---$1,655,000
2019$1,655,000---$1,655,000
2018$1,655,000---$1,655,000
2017$1,655,000---$1,655,000
2016$1,655,000---$1,655,000
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,894
Program Service Revenue
$0
Investment Income
$488,910
Other Revenue
$0
All Other Contributions
$1,894
Change in Net Assets
$287,269

Audited Revenue Reconciliation

Revenue per Audited Statements
$490,804
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$137,304
Total Revenue per Audited Statements
$628,108
Total Revenue per Form 990
$490,804
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$169,026
Other Expenses$34,509
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$169,026--$169,026
Fees for Service Investment Mgmnt Fees-$33,385-$33,385
Fees for Services Accounting-$800-$800
Office Expenses-$324-$324
Total Functional Expenses$169,026$34,509$0$203,535

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$203,535
Total Expenses per Audited Statements$203,535
Total Expenses per Form 990$203,535
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$0

International Compliance

Foreign grant records maintained
No
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Review is conducted by the treasurer.

Form 990, Part VI, Section B, Line 12C

All officers are non-compensated volunteers

Form 990, Part VI, Section B, Line 15

All officers are non-compensated volunteers

Form 990, Part VI, Section C, Line 19

All governing documents, policies and financial statements are available for review at the offices of the organization

Filing and Contact Details

Filer

Filer Name
Balamand Educational Foundation Inc
EIN
04-3296470
Phone
8007133015
Address
15 RAILROAD DR, NORTHBOROUGH, MA 01532

Signing Officer

Name
Fawaz Khoury
Title
Treasurer
Phone
8007133015
Signed
2021-08-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Fawaz Khoury
Formed
1996
Legal Domicile
Ma
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
0

Preparer

Firm
Houssan & Ojerholm Pc
Address
333 SHREWSBURY STREET, WORCESTER, MA 01604-4614
Preparer
Michael E Houssan CPA
Phone
5087919501
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The organization follows the accounting for uncertainty in income taxes standards which requires reporting of certain tax positions, related interest and penalties and to adjust its assets and liabilities related to unrecognized tax benefits and accrued interest and penalties. The organization believes that it has appropriate support for the positions taken on their tax returns. As of december 31, 2020, the organization does not have any material tax positions that require disclosure or recognition.

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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt083796
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0636193
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt039228
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0793651
IRS990ScheduleA/TotalSupportAmt02815366
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt01655000
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt01655000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt01655000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt01655000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt01655000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt01655000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt01655000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt01655000
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt01655000
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt01655000
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0203535
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0137304
IRS990ScheduleD/RevenueNotReportedAmt0137304
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0490804
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION FOLLOWS THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES STANDARDS WHICH REQUIRES REPORTING OF CERTAIN TAX POSITIONS, RELATED INTEREST AND PENALTIES AND TO ADJUST ITS ASSETS AND LIABILITIES RELATED TO UNRECOGNIZED TAX BENEFITS AND ACCRUED INTEREST AND PENALTIES. THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR THE POSITIONS TAKEN ON THEIR TAX RETURNS. AS OF DECEMBER 31, 2020, THE ORGANIZATION DOES NOT HAVE ANY MATERIAL TAX POSITIONS THAT REQUIRE DISCLOSURE OR RECOGNITION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0203535
IRS990ScheduleD/TotalRevenuePerForm990Amt0490804
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0628108
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0203535
IRS990ScheduleF/BoycottCountriesInd00
IRS990ScheduleF/ContinuationSpentAmt00
IRS990ScheduleF/ContinuationTotalEmployeeCnt00
IRS990ScheduleF/ContinuationTotalOfficeCnt00
IRS990ScheduleF/ForeignCorpOwnershipInd00
IRS990ScheduleF/ForeignPartnershipInd00
IRS990ScheduleF/GrantRecordsMaintainedInd00
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt0169026
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0SCHOLARSHIPS FOR STUDENTS ATTENDING BALAMAND UNIVERSITY
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt0MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT,
IRS990ScheduleF/InterestInForeignTrustInd00
IRS990ScheduleF/PassiveForeignInvestmestCoInd00
IRS990ScheduleF/SubtotalEmployeesCnt00
IRS990ScheduleF/SubtotalOfficesCnt00
IRS990ScheduleF/SubtotalSpentAmt00
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0PART III ACCOUNTING METHOD:
IRS990ScheduleF/TotalEmployeeCnt00
IRS990ScheduleF/TotalOfficeCnt00
IRS990ScheduleF/TotalSpentAmt00
IRS990ScheduleF/TransferToForeignCorpInd00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REVIEW IS CONDUCTED BY THE TREASURER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL OFFICERS ARE NON-COMPENSATED VOLUNTEERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL OFFICERS ARE NON-COMPENSATED VOLUNTEERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE FOR REVIEW AT THE OFFICES OF THE ORGANIZATION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt04749426
IRS990/TotalAssetsEOYAmt05173999
IRS990/TotalAssetsGrp/BOYAmt04749426
IRS990/TotalAssetsGrp/EOYAmt05173999
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01894
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt034509
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0169026
IRS990/TotalFunctionalExpensesGrp/TotalAmt0203535
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04749426
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt05173999
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0169026
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0488910
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0490804
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04749426
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05173999
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt015 RAILROAD DR
IRS990/USAddress/CityNm0NORTHBOROUGH
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd001532
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0BALAMANDEDUCATIONALFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0FAWAZ KHOURY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08007133015
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-08-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BALAMAND EDUCATIONAL FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0BALA
ReturnHeader/Filer/EIN0043296470
ReturnHeader/Filer/PhoneNum08007133015
ReturnHeader/Filer/USAddress/AddressLine1Txt015 RAILROAD DR
ReturnHeader/Filer/USAddress/CityNm0NORTHBOROUGH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001532
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0261588653
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HOUSSAN & OJERHOLM PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0333 SHREWSBURY STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WORCESTER

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.77$0.00$5.77$0.49$0.19$0.30
2023Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$5.31$0.00$5.31$0.19$0.03$0.15
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.57$0.00$4.57$0.34$0.31$0.03
2021Detailed filing. Detailed filing data is available for this year.$5.80$0.00$5.80$0.46$0.16$0.29
2020Detailed filing. Detailed filing data is available for this year.$5.17$0.00$5.17$0.49$0.20$0.29
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.75$0.00$4.75$0.26$0.23$0.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.13$0.00$4.13$0.30$0.19$0.11
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.38$0.00$4.38$0.86$0.16$0.70
2016Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$3.39$0.00$3.39$0.12$0.18$0.06
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.31$0.00$3.31$0.30$0.35$0.05
2014Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$3.55$0.00$3.55$0.22$0.23$0.00
2013Detailed filing. Detailed filing data is available for this year.$3.54$0.00$3.54$1.07$0.20$0.87
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.47$0.00$2.47$0.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.28$0.00$2.28$0.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.24$0.00$2.24$0.16