Civic Intelligence

Herald Education Inc.

990 • Fiscal year 2017 • EIN 27-3102940

Jul 01, 2016 to Jun 30, 2017 • Filed on Nov 11, 2017

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

96th percentile

1.32x

Higher debt load relative to assets than 96% of similar nonprofits.

2017 filings • NTEE B • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

74th percentile

0.13x

Higher debt load relative to revenue than 74% of similar nonprofits.

2017 filings • NTEE B • $500k-$1M nonprofits • Source year 2017

Net Margin

59th percentile

7.7%

Higher net margin than 59% of similar nonprofits.

2017 filings • NTEE B • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

67th percentile

$38,827

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 6.4% of source-year revenue.

2017 filings • NTEE B • $500k-$1M nonprofits • Source year 2017

Asset Growth

71st percentile

18%

Faster asset growth than 71% of similar nonprofits.

2017 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

45th percentile

4.1%

Faster revenue growth than 45% of similar nonprofits.

2017 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$61,026

Up $9,434 (+18%) from 2016

Net Assets

Up

-$19,806

Up $47,015 (+70%) from 2016

Liabilities

Down

$80,832

Down $37,581 (-32%) from 2016

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin59th percentile

Revenue

Up

$610,997

Up $23,989 (+4.1%) from 2016

Expenses

Down

$563,981

Down $34,951 (-5.8%) from 2016

Net Income

Up

$47,016

Up $58,940 (+494%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth71st 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 2017: $61,026Liabilities 2017: $80,832Net Assets 2017: -$19,8062017Assets 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

2017

Assets$61,026
Liabilities$80,832
Net Assets-$19,806
Open 2017 Filing

Operations Trend

Revenue Growth45th 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 2017: $610,997Expenses 2017: $563,981Net Income 2017: $47,0162017Revenue 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

2017

Revenue$610,997
Expenses$563,981
Net Income$47,016
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 11, 2017
Return Version
2016v3.0
Gross Receipts
$610,997
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$34,763$38,476▲ $3,713
Accounts Receivable$5,836$18,886▲ $13,050
Land, Buildings, and Equipment, Net$10,993$3,664▼ $7,329
Total Assets$51,592$61,026▲ $9,434
Liabilities
Deferred Revenue$113,266$73,225▼ $40,041
Accounts Payable and Accrued Expenses$4,390$4,410▲ $20
Other Liabilities$757$3,197▲ $2,440
Total Liabilities$118,413$80,832▼ $37,581
Net Assets / Fund Balance
Unrestricted Net Assets$-66,821$-19,806▲ $47,015
Total Net Assets Fund Balance$-66,821$-19,806▲ $47,015
Total Liabilities and Net Assets / Fund Balance$51,592$61,026▲ $9,434

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,664$47,636$51,300
Compensation and Service Providers
Top Officer Pay67th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Roger ChanManaging DirectorFT$38,827$38,827

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
$610,997
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$47,016
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$388,921
Other Expenses$175,060
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$274,731$31,548$0$306,279
Current Officers, Directors, Trustees, and Key Employees$23,368$23,369$0$46,737
Advertising$45,498$0$0$45,498
Payroll Taxes$24,948$4,596$0$29,544
Insurance$15,982$2,944$0$18,926
Fees for Services Management$12,000$3,000$0$15,000
Office Expenses$12,036$2,101$0$14,137
Fees for Services Accounting$0$10,345$0$10,345
Depreciation Depletion$5,863$1,466$0$7,329
Other Employee Benefits$5,371$990$0$6,361
Other Expenses$400$38$0$438
Total Functional Expenses$482,613$81,368$0$563,981
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$3,197
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
2017-11-11
Discuss with paid preparer
Yes

Organization Details

Formed
2010
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
6
Employees
55
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.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$61,026
Liabilities
$80,832
Net assets
-$19,806
Revenue
$610,997
Expenses
$563,981
Net income
$47,016
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
2017Detailed filing. Detailed filing data is available for this year.$0.61$0.81$0.20$6.11$5.64$0.47
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