Civic Intelligence

Palm Academy Inc.

990 • Fiscal year 2015 • EIN 20-5949060

Jul 01, 2014 to Jun 30, 2015 • Filed on Feb 07, 2016

Organization ProfileN/A
2856 Washington BlvdFremont, CA 94539

(510) 979-9794

Siviq Scores

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

Liabilities / Assets

28th percentile

0.02x

Higher debt load relative to assets than 28% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

21st percentile

0.01x

Higher debt load relative to revenue than 21% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

52nd percentile

3.4%

Higher net margin than 52% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

70th percentile

$101,272

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 9.3% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

63rd percentile

4.7%

Faster asset growth than 63% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

23rd percentile

-9.3%

Faster revenue growth than 23% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets28th percentile

Assets

Up

$757,008

Up $33,848 (+4.7%) from 2014

Net Assets

Up

$744,298

Up $36,888 (+5.2%) from 2014

Liabilities

Down

$12,710

Down $3,040 (-19%) from 2014

Revenue And Expenses
Liabilities / Revenue21st percentileNet Margin52nd percentile

Revenue

Down

$1,089,631

Down $111,397 (-9.3%) from 2014

Expenses

Up

$1,052,743

Up $9,682 (+0.9%) from 2014

Net Income

Down

$36,888

Down $121,079 (-77%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth63rd percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $424,049Liabilities 2011: $73,530Net Assets 2011: $350,5192011Assets 2012: $438,873Liabilities 2012: $37,420Net Assets 2012: $401,4532012Assets 2013: $568,205Liabilities 2013: $18,762Net Assets 2013: $549,4432013Assets 2014: $723,160Liabilities 2014: $15,750Net Assets 2014: $707,4102014Assets 2015: $757,008Liabilities 2015: $12,710Net Assets 2015: $744,2982015Assets 2016: $894,836Liabilities 2016: $11,984Net Assets 2016: $882,8522016Assets 2017: $1,129,158Liabilities 2017: $62,883Net Assets 2017: $1,066,2752017Assets 2018: $1,103,140Liabilities 2018: $42,268Net Assets 2018: $1,060,8722018Assets 2019: $1,180,492Liabilities 2019: $23,756Net Assets 2019: $1,156,7362019Assets 2020: $1,412,514Liabilities 2020: $185,210Net Assets 2020: $1,227,3042020Assets 2021: $1,390,597Liabilities 2021: $178,052Net Assets 2021: $1,212,5452021Assets 2022: $1,505,649Liabilities 2022: $184,341Net Assets 2022: $1,321,3082022Assets 2023: $1,633,495Liabilities 2023: $176,124Net Assets 2023: $1,457,3712023Assets 2024: $1,881,513Liabilities 2024: $96,132Net Assets 2024: $1,785,3812024

Highlighted filing

2015

Assets$757,008
Liabilities$12,710
Net Assets$744,298
Open 2015 Filing

Operations Trend

Revenue Growth23rd percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $961,499Expenses 2011: $774,281Net Income 2011: $187,2182011Revenue 2012: $919,936Expenses 2012: $869,002Net Income 2012: $50,9342012Revenue 2013: $1,219,079Expenses 2013: $1,071,089Net Income 2013: $147,9902013Revenue 2014: $1,201,028Expenses 2014: $1,043,061Net Income 2014: $157,9672014Revenue 2015: $1,089,631Expenses 2015: $1,052,743Net Income 2015: $36,8882015Revenue 2016: $1,097,122Expenses 2016: $958,568Net Income 2016: $138,5542016Revenue 2017: $1,265,953Expenses 2017: $1,082,530Net Income 2017: $183,4232017Revenue 2018: $982,605Expenses 2018: $993,008Net Income 2018: -$10,4032018Revenue 2019: $1,188,171Expenses 2019: $1,075,081Net Income 2019: $113,0902019Revenue 2020: $1,127,463Expenses 2020: $1,056,895Net Income 2020: $70,5682020Revenue 2021: $749,912Expenses 2021: $694,678Net Income 2021: $55,2342021Revenue 2022: $1,141,110Expenses 2022: $994,885Net Income 2022: $146,2252022Revenue 2023: $993,619Expenses 2023: $995,788Net Income 2023: -$2,1692023Revenue 2024: $1,275,045Expenses 2024: $1,079,855Net Income 2024: $195,1902024

Highlighted filing

2015

Revenue$1,089,631
Expenses$1,052,743
Net Income$36,888
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Feb 7, 2016
Return Version
2014v6.0
Gross Receipts
$1,089,631
Mission and Program Overview

Mission

A better education for minor children.

A school for the better education of minor children.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$707,410$744,298▲ $36,888
Savings and Temporary Cash Investments$437,938$435,187▼ $2,751
Land, Buildings, and Equipment, Net$152,365$206,735▲ $54,370
Intangible Assets$69,205$63,125▼ $6,080
Cash and Non-Interest-Bearing Accounts$60,212$49,620▼ $10,592
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$723,160$757,008▲ $33,848
Other Assets Total$3,440$2,341▼ $1,099
Liabilities
Unsecured Notes Loans Payable$15,750$12,710▼ $3,040
Total Liabilities$15,750$12,710▼ $3,040
Net Assets / Fund Balance
Total Net Assets Fund Balance$707,410$744,298▲ $36,888
Total Liabilities and Net Assets / Fund Balance$723,160$757,008▲ $33,848

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$77,483$137,805$215,288
Buildings$129,252$14,043$143,295
Compensation and Service Providers
Top Officer Pay70th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ruth YongPresidentFT$101,272$101,272

Board Members and Trustees

NameTitle
Debbie LauVice President
Abraham JouBoard Member
Joel LoBoard Member
Connie KwanSecretary
Grace LauTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,086,281
Investment Income
$3,350
Other Revenue
$0
Change in Net Assets
$36,888
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$597,069
Other Expenses$396,677
Grants and Similar Amounts Paid$58,997
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$398,644--$398,644
Current Officers, Directors, Trustees, and Key Employees-$101,272-$101,272
Royalties$87,439--$87,439
Occupancy$57,773$19,257-$77,030
Payroll Taxes$59,796$8,329-$68,125
Grants to Domestic Orgs$58,997--$58,997
Insurance$28,188$3,755-$31,943
Depreciation Depletion$19,375$7,485-$26,860
Other Employee Benefits$17,872$5,958-$23,830
Office Expenses$6,263$14,314-$20,577
Fees for Services Legal-$20,310-$20,310
Advertising$750$19,208-$19,958
Fees for Services Other$1,779$12,758-$14,537
Travel$10,317$3,663-$13,980
Other Expenses$7,284--$7,284
Pension Plan Contributions$2,599$2,599-$5,198
All Other Expenses-$3,078-$3,078
Fees for Services Accounting-$1,831-$1,831
Conferences and Meetings$1,718--$1,718
Information Technology$541--$541
Total Functional Expenses$828,926$223,817$0$1,052,743
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
First Chinese Methodist ChurchFremont, CA501(c)(3)Educational Assistance$58,997
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
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Grace lau and debbie lau are related to each other.”

Form 990, Part VI, Section B, Line 11

“Reviewed at a board meeting.”

Form 990, Part VI, Section C, Line 19

“UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Palm Academy Inc
EIN
20-5949060
Phone
5109799794
Address
2856 WASHINGTON BLVD, FREMONT, CA 94539

Signing Officer

Name
Ruth Yong
Title
President
Phone
5109799794
Signed
2016-02-07

Organization Details

Principal Officer
Ruth Yong
Formed
2007
Legal Domicile
CA
Voting Board Members
6
Independent Board Members
6
Employees
16
Volunteers
0

Preparer

Firm
Michael P Senadenos CPA
Address
39420 LIBERTY ST 170, FREMONT, CA 94538
Phone
5107944487
Raw XML Appendix386 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd00
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd00
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt058997
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0EDUCATIONAL ASSISTANCE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0FIRST CHINESE METHODIST CHURCH
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt02856 WASHINGTON BLVD
IRS990ScheduleI/RecipientTable/USAddress/CityNm0FREMONT
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd094539
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0GRACE LAU AND DEBBIE LAU ARE RELATED TO EACH OTHER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REVIEWED AT A BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0723160
IRS990/TotalAssetsEOYAmt0757008
IRS990/TotalAssetsGrp/BOYAmt0723160
IRS990/TotalAssetsGrp/EOYAmt0757008
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt016
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0223817
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0828926
IRS990/TotalFunctionalExpensesGrp/TotalAmt01052743
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt015750
IRS990/TotalLiabilitiesEOYAmt012710
IRS990/TotalLiabilitiesGrp/BOYAmt015750
IRS990/TotalLiabilitiesGrp/EOYAmt012710
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0707410
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0744298
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0828926
IRS990/TotalProgramServiceRevenueAmt01086281
IRS990/TotalReportableCompFromOrgAmt0101272
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01089631
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01089631
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0723160
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0757008
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt03663
IRS990/TravelGrp/ProgramServicesAmt010317
IRS990/TravelGrp/TotalAmt013980
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt015750
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt012710
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0499 CRABAPPLE TERRACE
IRS990/USAddress/CityNm0FREMONT
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd094539
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-08-17 19:52:53Z
ReturnHeader/BusinessOfficerGrp/PersonNm0RUTH YONG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05109799794
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-02-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PALM ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0PALM
ReturnHeader/Filer/EIN0205949060
ReturnHeader/Filer/PhoneNum05109799794
ReturnHeader/Filer/USAddress/AddressLine1Txt02856 WASHINGTON BLVD
ReturnHeader/Filer/USAddress/CityNm0FREMONT
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd094539
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0943014373
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MICHAEL P SENADENOS CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt039420 LIBERTY ST 170
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FREMONT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd094538
ReturnHeader/PreparerPersonGrp/PhoneNum05107944487
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02016-02-08T21:34:17-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$757,008
Liabilities
$12,710
Net assets
$744,298
Revenue
$1,089,631
Expenses
$1,052,743
Net income
$36,888
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.88$0.10$1.79$1.28$1.08$0.20
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.63$0.18$1.46$0.99$1.00$0.00
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.51$0.18$1.32$1.14$0.99$0.15
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.39$0.18$1.21$0.75$0.69$0.06
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.41$0.19$1.23$1.13$1.06$0.07
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.18$0.02$1.16$1.19$1.08$0.11
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.10$0.04$1.06$0.98$0.99$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.13$0.06$1.07$1.27$1.08$0.18
2016Detailed filing. Detailed filing data is available for this year.$0.89$0.01$0.88$1.10$0.96$0.14
2015Detailed filing. Detailed filing data is available for this year.$0.76$0.01$0.74$1.09$1.05$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.72$0.02$0.71$1.20$1.04$0.16
2013Summary only. Only limited summary data is available for this year.$0.57$0.02$0.55$1.22$1.07$0.15
2012Summary only. Only limited summary data is available for this year.$0.44$0.04$0.40$0.92$0.87$0.05
2011Summary only. Only limited summary data is available for this year.$0.42$0.07$0.35$0.96$0.77$0.19
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)3 • $1M-$5M nonprofits