Civic Intelligence

Herald Education Inc.

990 • Fiscal year 2015 • EIN 27-3102940

Jul 01, 2014 to Jun 30, 2015 • Filed on Sep 10, 2015

Organization ProfileN/A
156-03 Horace Harding ExpresswayFlushing, NY 11367

(718) 799-8222

Siviq Scores

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

Liabilities / Assets

95th percentile

1.38x

Higher debt load relative to assets than 95% of similar nonprofits.

2015 filings • NTEE B • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

81st percentile

0.26x

Higher debt load relative to revenue than 81% of similar nonprofits.

2015 filings • NTEE B • $500k-$1M nonprofits • Source year 2015

Net Margin

30th percentile

-3.6%

Higher net margin than 30% of similar nonprofits.

2015 filings • NTEE B • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

73rd percentile

$60,996

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 8.4% of source-year revenue.

2015 filings • NTEE B • $500k-$1M nonprofits • Source year 2015

Asset Growth

24th percentile

-6.4%

Faster asset growth than 24% of similar nonprofits.

2015 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

16th percentile

-19%

Faster revenue growth than 16% of similar nonprofits.

2015 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$137,793

Down $9,482 (-6.4%) from 2014

Net Assets

Down

-$52,497

Down $23,611 (-82%) from 2014

Liabilities

Up

$190,290

Up $14,129 (+8.0%) from 2014

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin30th percentile

Revenue

Down

$723,727

Down $171,869 (-19%) from 2014

Expenses

Down

$749,738

Down $102,904 (-12%) from 2014

Net Income

Down

-$26,011

Down $68,965 (-161%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth24th percentile

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

$300K$200K$100K$0-$100K-$200KAssets 2012: $130,503Liabilities 2012: $201,787Net Assets 2012: -$71,2842012Assets 2013: $158,651Liabilities 2013: $230,491Net Assets 2013: -$71,8402013Assets 2014: $147,275Liabilities 2014: $176,161Net Assets 2014: -$28,8862014Assets 2015: $137,793Liabilities 2015: $190,290Net Assets 2015: -$52,4972015Assets 2016: $51,592Liabilities 2016: $118,413Net Assets 2016: -$66,8212016Assets 2019: $100,070Liabilities 2019: $221,150Net Assets 2019: -$121,0802019Assets 2020: $17,703Liabilities 2020: $131,852Net Assets 2020: -$114,1492020Assets 2021: $69,679Liabilities 2021: $183,262Net Assets 2021: -$113,5832021Assets 2022: $51,115Liabilities 2022: $64,172Net Assets 2022: -$13,0572022

Highlighted filing

2015

Assets$137,793
Liabilities$190,290
Net Assets-$52,497
Open 2015 Filing

Operations Trend

Revenue Growth16th percentile

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

$1.0M$500K$0-$500KExpenses 2012: $858,9422012Expenses 2013: $801,6892013Revenue 2014: $895,596Expenses 2014: $852,642Net Income 2014: $42,9542014Revenue 2015: $723,727Expenses 2015: $749,738Net Income 2015: -$26,0112015Revenue 2016: $587,008Expenses 2016: $598,932Net Income 2016: -$11,9242016Revenue 2019: $526,573Expenses 2019: $585,787Net Income 2019: -$59,2142019Revenue 2020: $421,371Expenses 2020: $404,633Net Income 2020: $16,7382020Revenue 2021: $3,504Expenses 2021: $2,938Net Income 2021: $5662021Revenue 2022: $105,724Expenses 2022: $5,198Net Income 2022: $100,5262022

Highlighted filing

2015

Revenue$723,727
Expenses$749,738
Net Income-$26,011
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Sep 10, 2015
Return Version
2014v6.0
Gross Receipts
$723,727
Mission and Program Overview

Mission

The mission of the organization is

The mission of the organization is to provide affordable, effective and quality academic enrichment and quality academic enrichment and afterschool programs to the children and youth of the nearby communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$121,456$107,897▼ $13,559
Land, Buildings, and Equipment, Net$25,650$18,321▼ $7,329
Accounts Receivable-$11,566-
Intangible Assets$169$9▼ $160
Total Assets$147,275$137,793▼ $9,482
Liabilities
Deferred Revenue$171,513$130,331▼ $41,182
Accounts Payable and Accrued Expenses$4,648$59,959▲ $55,311
Total Liabilities$176,161$190,290▲ $14,129
Net Assets / Fund Balance
Unrestricted Net Assets$-28,886$-52,497▼ $23,611
Total Net Assets Fund Balance$-28,886$-52,497▼ $23,611
Total Liabilities and Net Assets / Fund Balance$147,275$137,793▼ $9,482

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$18,321$32,979$51,300
Compensation and Service Providers
Top Officer Pay73rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Roger ChanManaging DirectorFT$60,996$60,996

Board Members and Trustees

NameTitle
Hung TseBoard President
Ellen YuenBoard Member
Siukwong Patrick ChanOperation Director
Katie Yim Chun Kan ChauSecretary
Rachael WuTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$723,727
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-26,011
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$433,445
Other Expenses$316,293
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$331,330$0$0$331,330
Fees for Services Management$80,000$0$0$80,000
Fees for Services Other$72,376$0$0$72,376
Current Officers, Directors, Trustees, and Key Employees$30,498$30,498$0$60,996
Advertising$50,101$0$0$50,101
Payroll Taxes$34,657$2,443$0$37,100
Insurance$9,886$0$0$9,886
Depreciation Depletion$5,863$1,626$0$7,489
Office Expenses$5,190$1,297$0$6,487
Fees for Services Accounting$0$5,856$0$5,856
Other Employee Benefits$3,754$265$0$4,019
Other Expenses$909$227$0$1,136
Total Functional Expenses$707,526$42,212$0$749,738
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
Backup withholding compliance
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
Filing and Contact Details

Filer

Filer Name
Herald Education Inc
EIN
27-3102940
Phone
7187998222
Address
156-03 HORACE HARDING EXPRESSWAY, FLUSHING, NY 11367

Signing Officer

Name
Rev Hung Tse
Title
Director
Phone
7187998222
Signed
2015-09-10
Discuss with paid preparer
Yes

Organization Details

Formed
2010
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
6
Employees
78
Volunteers
45

Preparer

Firm
WONG & CO CPAs
Address
57 WEST 38TH STREET 12/FL, NEW YORK, NY 10018
Preparer
Jafrey S Liu CPA
Phone
2128406123
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“At least 30 days prior to filings, the organizationdistributes a draft form 990 to the board for review. 10 days are allowed for feedback, through the board treasurer, before form 990 is finalized and filed. A copy of the filed form 990 is provided to the board for their record.”

Pt VI, Line 12C

“The directors are awrae of the monitoring and compliance requirements to maintain the board's independency and its intergity. Directors and officers will be issued with a copy of the current conflict of interest policy on appointment andannually thereafter. They are required to complete annual declarations to either confirm no conflicts or indentify possible and/or actual conflicts.”

Pt VI, Line 15A

“The organization uses the following to determine thecompensation of its executive director, or top managementofficial: 1) compensation survey or study; 2) approval bythe board or compensation committee.”

Pt VI, Line 15B

“The organization uses the following to determine thecompensation of its key employees, compensation survey or study; 2) approval by the board or compensation committee.”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AT LEAST 30 DAYS PRIOR TO FILINGS, THE ORGANIZATIONDISTRIBUTES A DRAFT FORM 990 TO THE BOARD FOR REVIEW. 10 DAYS ARE ALLOWED FOR FEEDBACK, THROUGH THE BOARD TREASURER, BEFORE FORM 990 IS FINALIZED AND FILED. A COPY OF THE FILED FORM 990 IS PROVIDED TO THE BOARD FOR THEIR RECORD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE DIRECTORS ARE AWRAE OF THE MONITORING AND COMPLIANCE REQUIREMENTS TO MAINTAIN THE BOARD'S INDEPENDENCY AND ITS INTERGITY. DIRECTORS AND OFFICERS WILL BE ISSUED WITH A COPY OF THE CURRENT CONFLICT OF INTEREST POLICY ON APPOINTMENT ANDANNUALLY THEREAFTER. THEY ARE REQUIRED TO COMPLETE ANNUAL DECLARATIONS TO EITHER CONFIRM NO CONFLICTS OR INDENTIFY POSSIBLE AND/OR ACTUAL CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION USES THE FOLLOWING TO DETERMINE THECOMPENSATION OF ITS EXECUTIVE DIRECTOR, OR TOP MANAGEMENTOFFICIAL: 1) COMPENSATION SURVEY OR STUDY; 2) APPROVAL BYTHE BOARD OR COMPENSATION COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION USES THE FOLLOWING TO DETERMINE THECOMPENSATION OF ITS KEY EMPLOYEES, COMPENSATION SURVEY OR STUDY; 2) APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 15b
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0147275
IRS990/TotalAssetsEOYAmt0137793
IRS990/TotalAssetsGrp/BOYAmt0147275
IRS990/TotalAssetsGrp/EOYAmt0137793
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt078
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt042212
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0707526
IRS990/TotalFunctionalExpensesGrp/TotalAmt0749738
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0176161
IRS990/TotalLiabilitiesEOYAmt0190290
IRS990/TotalLiabilitiesGrp/BOYAmt0176161
IRS990/TotalLiabilitiesGrp/EOYAmt0190290
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-28886
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-52497
IRS990/TotalProgramServiceExpensesAmt0707526
IRS990/TotalProgramServiceRevenueAmt0723727
IRS990/TotalReportableCompFromOrgAmt060996
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0723727
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0723727
IRS990/TotalVolunteersCnt045
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0147275
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0137793
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-28886
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-52497
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0156-03 HORACE HARDING EXPRESSWAY
IRS990/USAddress/CityNm0FLUSHING
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011367
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-08-17 19:52:53Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0REV HUNG TSE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07187998222
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-09-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HERALD EDUCATION INC
ReturnHeader/Filer/BusinessNameControlTxt0HERA
ReturnHeader/Filer/EIN0273102940
ReturnHeader/Filer/PhoneNum07187998222
ReturnHeader/Filer/USAddress/AddressLine1Txt0156-03 HORACE HARDING EXPRESSWAY
ReturnHeader/Filer/USAddress/CityNm0FLUSHING
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011367
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WONG & CO CPAs
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt057 WEST 38TH STREET 12/FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010018
ReturnHeader/PreparerPersonGrp/PhoneNum02128406123
ReturnHeader/PreparerPersonGrp/PreparationDt02016-05-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAFREY S LIU CPA
ReturnHeader/ReturnTs02016-05-16T15:46:18-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$137,793
Liabilities
$190,290
Net assets
-$52,497
Revenue
$723,727
Expenses
$749,738
Net income
-$26,011
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.51$0.64$0.13$1.06$0.05$1.01
2021Detailed filing. Detailed filing data is available for this year.$0.70$1.83$1.14$0.04$0.03$0.01
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.18$1.32$1.14$4.21$4.05$0.17
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.00$2.21$1.21$5.27$5.86$0.59
2016Detailed filing. Detailed filing data is available for this year.$0.52$1.18$0.67$5.87$5.99$0.12
2015Detailed filing. Detailed filing data is available for this year.$1.38$1.90$0.52$7.24$7.50$0.26
2014Detailed filing. Detailed filing data is available for this year.$1.47$1.76$0.29$8.96$8.53$0.43
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.59$2.30$0.72$8.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.31$2.02$0.71$8.59