Civic Intelligence

Herald Education Inc.

990 • Fiscal year 2016 • EIN 27-3102940

Jul 01, 2015 to Jun 30, 2016 • Filed on Oct 16, 2016

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

98th percentile

2.30x

Higher debt load relative to assets than 98% of similar nonprofits.

2016 filings • NTEE B • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

79th percentile

0.20x

Higher debt load relative to revenue than 79% of similar nonprofits.

2016 filings • NTEE B • $500k-$1M nonprofits • Source year 2016

Net Margin

31st percentile

-2.0%

Higher net margin than 31% of similar nonprofits.

2016 filings • NTEE B • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

74th percentile

$50,646

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 8.6% of source-year revenue.

2016 filings • NTEE B • $500k-$1M nonprofits • Source year 2016

Asset Growth

2nd percentile

-63%

Faster asset growth than 2% of similar nonprofits.

2016 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

17th percentile

-19%

Faster revenue growth than 17% of similar nonprofits.

2016 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$51,592

Down $86,201 (-63%) from 2015

Net Assets

Down

-$66,821

Down $14,324 (-27%) from 2015

Liabilities

Down

$118,413

Down $71,877 (-38%) from 2015

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin31st percentile

Revenue

Down

$587,008

Down $136,719 (-19%) from 2015

Expenses

Down

$598,932

Down $150,806 (-20%) from 2015

Net Income

Up

-$11,924

Up $14,087 (+54%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth2nd 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

2016

Assets$51,592
Liabilities$118,413
Net Assets-$66,821
Open 2016 Filing

Operations Trend

Revenue Growth17th 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

2016

Revenue$587,008
Expenses$598,932
Net Income-$11,924
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Oct 16, 2016
Return Version
2015v3.0
Gross Receipts
$587,008
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$107,897$34,763▼ $73,134
Land, Buildings, and Equipment, Net$18,321$10,993▼ $7,328
Accounts Receivable$11,566$5,836▼ $5,730
Intangible Assets$9--
Total Assets$137,793$51,592▼ $86,201
Liabilities
Deferred Revenue$130,331$113,266▼ $17,065
Accounts Payable and Accrued Expenses$59,959$4,390▼ $55,569
Other Liabilities-$757-
Total Liabilities$190,290$118,413▼ $71,877
Net Assets / Fund Balance
Unrestricted Net Assets$-52,497$-66,821▼ $14,324
Total Net Assets Fund Balance$-52,497$-66,821▼ $14,324
Total Liabilities and Net Assets / Fund Balance$137,793$51,592▼ $86,201

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$10,993$40,307$51,300
Compensation and Service Providers
Top Officer Pay74th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Roger ChanManaging DirectorFT$50,646$50,646

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
$587,008
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-11,924
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$391,988
Other Expenses$206,944
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$310,652$0$0$310,652
Fees for Services Other$55,508$0$0$55,508
Advertising$54,911$0$0$54,911
Current Officers, Directors, Trustees, and Key Employees$22,810$22,810$0$45,620
Payroll Taxes$29,149$1,994$0$31,143
Insurance$17,549$1,200$0$18,749
Office Expenses$10,172$2,518$0$12,690
Fees for Services Accounting$0$7,525$0$7,525
Depreciation Depletion$5,862$1,475$0$7,337
Other Employee Benefits$4,280$293$0$4,573
Other Expenses$0$465$0$465
Travel$0$363$0$363
Total Functional Expenses$560,289$38,643$0$598,932
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
Payroll Tax Payable$757
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
2016-10-16
Discuss with paid preparer
Yes

Organization Details

Formed
2010
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
6
Employees
52
Volunteers
40

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/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0137793
IRS990/TotalAssetsEOYAmt051592
IRS990/TotalAssetsGrp/BOYAmt0137793
IRS990/TotalAssetsGrp/EOYAmt051592
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt052
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt038643
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0560289
IRS990/TotalFunctionalExpensesGrp/TotalAmt0598932
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0190290
IRS990/TotalLiabilitiesEOYAmt0118413
IRS990/TotalLiabilitiesGrp/BOYAmt0190290
IRS990/TotalLiabilitiesGrp/EOYAmt0118413
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-52497
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-66821
IRS990/TotalProgramServiceExpensesAmt0560289
IRS990/TotalProgramServiceRevenueAmt0587008
IRS990/TotalReportableCompFromOrgAmt050646
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0587008
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0587008
IRS990/TotalVolunteersCnt040
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0137793
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt051592
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0363
IRS990/TravelGrp/ProgramServicesAmt00
IRS990/TravelGrp/TotalAmt0363
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-52497
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-66821
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/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0REV HUNG TSE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07187998222
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-10-16
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/PreparationDt02017-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAFREY S LIU CPA
ReturnHeader/ReturnTs02017-05-15T10:58:43-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$51,592
Liabilities
$118,413
Net assets
-$66,821
Revenue
$587,008
Expenses
$598,932
Net income
-$11,924
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
Peer Organizations

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