Civic Intelligence

Holmdel Foundation for Educational Excellence Incorporated

990 • Fiscal year 2024 • EIN 22-3478361

Jul 01, 2023 to Jun 30, 2024 • Filed on May 01, 2024

Organization ProfileWWW.HFEE.ORG
PO Box 407Holmdel, NJ 07733

(917) 601-8696

Siviq Scores

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

Liabilities / Assets

81st percentile

0.00x

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

2024 filings • NTEE B82 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

81st percentile

0.00x

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

2024 filings • NTEE B82 • <$500k nonprofits • Source year 2024

Net Margin

74th percentile

42%

Higher net margin than 74% of similar nonprofits.

2024 filings • NTEE B82 • <$500k nonprofits • Source year 2024

Top Officer Pay

94th percentile

$0

Higher top officer pay than 94% of similar nonprofits.

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

2024 filings • NTEE B82 • <$500k nonprofits • Source year 2024

Asset Growth

67th percentile

11%

Faster asset growth than 67% of similar nonprofits.

2024 filings • NTEE B82 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

14th percentile

-61%

Faster revenue growth than 14% of similar nonprofits.

2024 filings • NTEE B82 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$307,622

Up $31,319 (+11%) from 2023

Net Assets

Up

$307,622

Up $31,319 (+11%) from 2023

Liabilities

Flat

$0

Flat from 2023

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin74th percentile

Revenue

Down

$73,845

Down $117,791 (-61%) from 2023

Expenses

Down

$42,526

Down $127,168 (-75%) from 2023

Net Income

Up

$31,319

Up $9,377 (+43%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth67th percentile

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

$400K$300K$200K$100K$0Assets 2012: $115,608Liabilities 2012: $0Net Assets 2012: $115,6082012Assets 2013: $102,206Liabilities 2013: $0Net Assets 2013: $102,2062013Assets 2014: $118,060Liabilities 2014: $53,426Net Assets 2014: $64,6342014Assets 2015: $87,341Liabilities 2015: $53,066Net Assets 2015: $34,2752015Assets 2016: $86,609Liabilities 2016: $22,705Net Assets 2016: $63,9042016Assets 2017: $73,986Liabilities 2017: $17,715Net Assets 2017: $56,2712017Assets 2018: $283,447Liabilities 2018: $14,353Net Assets 2018: $269,0942018Assets 2019: $229,697Liabilities 2019: $38,464Net Assets 2019: $191,2332019Assets 2020: $190,238Liabilities 2020: $20,955Net Assets 2020: $169,2832020Assets 2021: $158,590Liabilities 2021: $18,433Net Assets 2021: $140,1572021Assets 2022: $254,361Liabilities 2022: $0Net Assets 2022: $254,3612022Assets 2023: $276,303Liabilities 2023: $0Net Assets 2023: $276,3032023Assets 2024: $307,622Liabilities 2024: $0Net Assets 2024: $307,6222024Assets 2025: $123,243Liabilities 2025: $0Net Assets 2025: $123,2432025

Highlighted filing

2024

Assets$307,622
Liabilities$0
Net Assets$307,622
Open 2024 Filing

Operations Trend

Revenue Growth14th percentile

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

$400K$200K$0-$200KRevenue 2012: $99,239Expenses 2012: $120,677Net Income 2012: -$21,4382012Revenue 2013: $63,291Expenses 2013: $73,687Net Income 2013: -$10,3962013Revenue 2014: $135,370Expenses 2014: $94,463Net Income 2014: $40,9072014Revenue 2015: $98,483Expenses 2015: $128,743Net Income 2015: -$30,2602015Revenue 2016: $249,613Expenses 2016: $219,985Net Income 2016: $29,6282016Revenue 2017: $108,305Expenses 2017: $115,938Net Income 2017: -$7,6332017Revenue 2018: $286,246Expenses 2018: $73,423Net Income 2018: $212,8232018Revenue 2019: $123,386Expenses 2019: $201,247Net Income 2019: -$77,8612019Revenue 2020: $116,320Expenses 2020: $138,270Net Income 2020: -$21,9502020Revenue 2021: $47,175Expenses 2021: $76,301Net Income 2021: -$29,1262021Revenue 2022: $118,618Expenses 2022: $4,414Net Income 2022: $114,2042022Revenue 2023: $191,636Expenses 2023: $169,694Net Income 2023: $21,9422023Revenue 2024: $73,845Expenses 2024: $42,526Net Income 2024: $31,3192024Revenue 2025: $87,816Expenses 2025: $266,193Net Income 2025: -$178,3772025

Highlighted filing

2024

Revenue$73,845
Expenses$42,526
Net Income$31,319
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 1, 2024
Return Version
2023v6.0
Gross Receipts
$98,182
Mission and Program Overview

Mission

Corporation organized exclusively for educational, scientific and charitable purposes to receive and disburse funds, property and gifts of any kind for the holmdel township school district.

SEE PART III STMT

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$276,303$307,622▲ $31,319
Cash and Non-Interest-Bearing Accounts$276,303$301,622▲ $25,319
Pledges and Grants Receivable-$6,000-
Total Assets$276,303$307,622▲ $31,319
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$276,303$307,622▲ $31,319
Total Liabilities and Net Assets / Fund Balance$276,303$307,622▲ $31,319
Compensation and Service Providers
Top Officer Pay94th percentile

Board Members and Trustees

NameTitle
Catherine GrunsfeldChairperson
Anuk FernandoTrustee
Bryan RukinTrustee
Chandana RaoTrustee
Danielle GeorgeTrustee
Desiree OstrovskyTrustee
Doreen DemarcoTrustee
Erica FuquaTrustee
Kristin FernandezTrustee
Michelle SottileTrustee
Neeti DhariaTrustee
Steve BurdenTrustee
Tina AmariniTrustee
Brittany MallardiCo Vice Chai
Nicole BellCo Vice Chai
Amanda L VolkGala Co Vice
Sean T DowdSecretary
Milin RaoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$6,007
Program Service Revenue
$0
Investment Income
$1,942
Other Revenue
$65,896
All Other Contributions
$6,007
Change in Net Assets
$31,319

Audited Revenue Reconciliation

Revenue per Audited Statements
$73,845
Total Revenue per Audited Statements
$73,845
Total Revenue per Form 990
$73,845
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$42,526
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$37,119$993-$38,112
Insurance-$3,081-$3,081
Fees for Services Accounting-$1,333-$1,333
Total Functional Expenses$37,119$5,407$0$42,526

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$42,526
Total Expenses per Audited Statements$42,526
Total Expenses per Form 990$42,526
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$90,233
Fundraising Direct Expenses$24,337
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Giving$53,752$53,752$688$53,064
Battle of the F$19,161$19,161$5,522$13,639
Total Events$90,233$90,233$24,337$65,896
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
Backup withholding compliance
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Holmdel Foundation for Educational
EIN
22-3478361
Phone
9176018696
Address
PO BOX 407, HOLMDEL, NJ 07733
Doing Business As
Hfee

Signing Officer

Name
Milin Rao
Title
Treasurer
Phone
9178018696
Signed
2024-05-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Milin Rao
Formed
1996
Legal Domicile
Nj
Voting Board Members
18
Independent Board Members
18
Employees
0

Preparer

Firm
Matthews & Nulty Inc
Address
197 STATE ROUTE 18 STE 202, EAST BRUNSWICK, NJ 08816-1405
Preparer
Michael W Nulty CPA
Phone
7322578604
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Office expense 1,950 0 0 licenses & permits 0 809 0 photo/video 200 0 0 mini grants 33,719 0 0 website 0 176 0 miscellaneous 0 8 0 scholarships 1,250 0 0 total 37,119 993 0”

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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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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0135774
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt092036
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0142656
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0380300
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01942
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt092
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt012
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt012
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0260
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt02318
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0417422
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99390
IRS990ScheduleA/PublicSupportPY170Pct00.99940
IRS990ScheduleA/PublicSupportTotal170Amt0380300
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt06007
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt092036
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0142656
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0380300
IRS990ScheduleA/TotalSupportAmt0382618
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt042526
IRS990ScheduleD/RevenueSubtotalAmt073845
IRS990ScheduleD/TotalExpensesPerForm990Amt042526
IRS990ScheduleD/TotalRevenuePerForm990Amt073845
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt073845
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt042526
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt024337
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IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0BATTLE OF THE F
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt053752
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt019161
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt017320
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt090233
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt053752
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt019161
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt017320
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt090233
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt065896
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt018127
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt024337
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt0688
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt05522
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt02
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2OFFICE EXPENSE 1,950 0 0 LICENSES & PERMITS 0 809 0 PHOTO/VIDEO 200 0 0 MINI GRANTS 33,719 0 0 WEBSITE 0 176 0 MISCELLANEOUS 0 8 0 SCHOLARSHIPS 1,250 0 0 TOTAL 37,119 993 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0276303
IRS990/TotalAssetsEOYAmt0307622
IRS990/TotalAssetsGrp/BOYAmt0276303
IRS990/TotalAssetsGrp/EOYAmt0307622
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt06007
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt05407
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt037119
IRS990/TotalFunctionalExpensesGrp/TotalAmt042526
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0276303
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0307622
IRS990/TotalProgramServiceExpensesAmt037119
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01942
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt073845
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0276303
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0307622
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt024 YELLOW BROOK ROAD
IRS990/USAddress/CityNm0HOLMDEL
IRS990/USAddress/StateAbbreviationCd0NJ
IRS990/USAddress/ZIPCd007733
IRS990/VotingMembersGoverningBodyCnt018
IRS990/VotingMembersIndependentCnt018
IRS990/WebsiteAddressTxt0WWW.HFEE.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MILIN RAO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09178018696
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HOLMDEL FOUNDATION FOR EDUCATIONAL
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0EXCELLENCE INC
ReturnHeader/Filer/BusinessNameControlTxt0HOLM
ReturnHeader/Filer/EIN0223478361
ReturnHeader/Filer/PhoneNum09176018696
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 407
ReturnHeader/Filer/USAddress/CityNm0HOLMDEL
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd007733
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0473173183
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MATTHEWS & NULTY INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0197 STATE ROUTE 18 STE 202
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0EAST BRUNSWICK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0088161405
ReturnHeader/PreparerPersonGrp/PhoneNum07322578604
ReturnHeader/PreparerPersonGrp/PreparationDt02025-04-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL W NULTY CPA
ReturnHeader/ReturnTs02025-04-30T11:33:13-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$307,622
Liabilities
$0
Net assets
$307,622
Revenue
$73,845
Expenses
$42,526
Net income
$31,319
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.23$0.00$1.23$0.88$2.66$1.78
2024Detailed filing. Detailed filing data is available for this year.$3.08$0.00$3.08$0.74$0.43$0.31
2023Detailed filing. Detailed filing data is available for this year.$2.76$0.00$2.76$1.92$1.70$0.22
2022Detailed filing. Detailed filing data is available for this year.$2.54$0.00$2.54$1.19$0.04$1.14
2021Detailed filing. Detailed filing data is available for this year.$1.59$0.18$1.40$0.47$0.76$0.29
2020Detailed filing. Detailed filing data is available for this year.$1.90$0.21$1.69$1.16$1.38$0.22
2019Detailed filing. Detailed filing data is available for this year.$2.30$0.38$1.91$1.23$2.01$0.78
2018Detailed filing. Detailed filing data is available for this year.$2.83$0.14$2.69$2.86$0.73$2.13
2017Detailed filing. Detailed filing data is available for this year.$0.74$0.18$0.56$1.08$1.16$0.08
2016Summary only. Only limited summary data is available for this year.$0.87$0.23$0.64$2.50$2.20$0.30
2015Summary only. Only limited summary data is available for this year.$0.87$0.53$0.34$0.98$1.29$0.30
2014Summary only. Only limited summary data is available for this year.$1.18$0.53$0.65$1.35$0.94$0.41
2013Summary only. Only limited summary data is available for this year.$1.02$0.00$1.02$0.63$0.74$0.10
2012Summary only. Only limited summary data is available for this year.$1.16$0.00$1.16$0.99$1.21$0.21