Civic Intelligence

Herald Education Inc.

990 • Fiscal year 2020 • EIN 27-3102940

Jul 01, 2019 to Jun 30, 2020 • Filed on Oct 15, 2020

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

99th percentile

7.45x

Higher debt load relative to assets than 99% of similar nonprofits.

2020 filings • NTEE B • <$500k nonprofits • Source year 2020

Liabilities / Revenue

89th percentile

0.31x

Higher debt load relative to revenue than 89% of similar nonprofits.

2020 filings • NTEE B • <$500k nonprofits • Source year 2020

Net Margin

48th percentile

4.0%

Higher net margin than 48% of similar nonprofits.

2020 filings • NTEE B80 • <$500k nonprofits • Source year 2020

Top Officer Pay

88th percentile

$8,556

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2020 filings • NTEE B • <$500k nonprofits • Source year 2020

Asset Growth

2nd percentile

-82%

Faster asset growth than 2% of similar nonprofits.

2020 filings • NTEE B • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

49th percentile

-20%

Faster revenue growth than 49% of similar nonprofits.

2020 filings • NTEE B • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$17,703

Down $82,367 (-82%) from 2019

Net Assets

Up

-$114,149

Up $6,931 (+5.7%) from 2019

Liabilities

Down

$131,852

Down $89,298 (-40%) from 2019

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin48th percentile

Revenue

Down

$421,371

Down $105,202 (-20%) from 2019

Expenses

Down

$404,633

Down $181,154 (-31%) from 2019

Net Income

Up

$16,738

Up $75,952 (+128%) from 2019

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

2020

Assets$17,703
Liabilities$131,852
Net Assets-$114,149
Open 2020 Filing

Operations Trend

Revenue Growth49th 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

2020

Revenue$421,371
Expenses$404,633
Net Income$16,738
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Oct 15, 2020
Return Version
2019v5.1
Gross Receipts
$421,371
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

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$82,915$12,831▼ $70,084
Accounts Receivable$17,155$4,872▼ $12,283
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$100,070$17,703▼ $82,367
Liabilities
Accounts Payable and Accrued Expenses$79,275$93,625▲ $14,350
Deferred Revenue$137,983$37,302▼ $100,681
Other Liabilities$3,892$925▼ $2,967
Total Liabilities$221,150$131,852▼ $89,298
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-121,080$-114,149▲ $6,931
Total Net Assets Fund Balance$-121,080$-114,149▲ $6,931
Total Liabilities and Net Assets / Fund Balance$100,070$17,703▼ $82,367

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$51,300$51,300
Compensation and Service Providers
Top Officer Pay88th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Roger ChanManaging DirectorFT$8,556$8,556

Board Members and Trustees

NameTitle
Katie Yim Chun Kan ChauBoard President
Siukwong Patrick ChanOperation Director
Ellen YuenSecretary
Rachael WuTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$10,000
Program Service Revenue
$411,371
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$16,738
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$249,492
Other Expenses$155,141
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$171,756$45,870$0$217,626
Fees for Services Management$52,080$13,020$0$65,100
Payroll Taxes$13,921$3,966$0$17,887
Advertising$12,880$0$0$12,880
Fees for Services Accounting$0$12,395$0$12,395
Insurance$6,082$3,308$0$9,390
Current Officers, Directors, Trustees, and Key Employees$4,278$4,278$0$8,556
Office Expenses$5,452$752$0$6,204
Other Employee Benefits$4,221$1,202$0$5,423
Other Expenses$960$240$0$1,200
Total Functional Expenses$319,387$85,246$0$404,633
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$925
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 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
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
Roger Chan
Title
Director
Phone
7187998222
Signed
2020-10-15
Discuss with paid preparer
Yes

Organization Details

Formed
2010
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
20
Volunteers
22

Preparer

Firm
Wong & Co
Address
57 WEST 38TH STREET 12FL, 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 organization distributes 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 the compensation of its executive director, or top management official: 1) compensation survey or study; 2) approval by the board or compensation committee.”

Pt VI, Line 15B

“The organization uses the following to determine the compensation 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 ORGANIZATION DISTRIBUTES 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 THE COMPENSATION OF ITS EXECUTIVE DIRECTOR, OR TOP MANAGEMENT OFFICIAL: 1) COMPENSATION SURVEY OR STUDY; 2) APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION USES THE FOLLOWING TO DETERMINE THE COMPENSATION 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
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IRS990/USAddress/AddressLine1Txt0156-03 HORACE HARDING EXPRESSWAY
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IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011367
IRS990/VotingMembersGoverningBodyCnt05
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IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ROGER CHAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07187998222
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-10-15
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
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt057 WEST 38TH STREET 12FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010018
ReturnHeader/PreparerPersonGrp/PhoneNum02128406123
ReturnHeader/PreparerPersonGrp/PreparationDt02021-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAFREY S LIU CPA
ReturnHeader/ReturnTs02021-05-16T19:25:46-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$17,703
Liabilities
$131,852
Net assets
-$114,149
Revenue
$421,371
Expenses
$404,633
Net income
$16,738
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
2020Detailed filing. Detailed filing data is available for this year.$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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