Civic Intelligence

Mynd Flex Inc

990 • Fiscal year 2020 • EIN 27-3322120

Jul 01, 2019 to Jun 30, 2020 • Filed on Nov 25, 2020

33412 Pony LoopFremont, CA 94555

(925) 605-8173

Siviq Scores

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

Liabilities / Assets

86th percentile

0.40x

Higher debt load relative to assets than 86% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

85th percentile

0.24x

Higher debt load relative to revenue than 85% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

25th percentile

-15%

Higher net margin than 25% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

87th percentile

$33,500

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 19.0% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

65th percentile

18%

Faster asset growth than 65% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

38th percentile

-27%

Faster revenue growth than 38% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Assets

Up

$104,633

Up $16,005 (+18%) from 2019

Net Assets

Down

$62,556

Down $26,072 (-29%) from 2019

Liabilities

Up

$42,077

Up $42,077 from 2019

Revenue

Down

$176,346

Down $65,118 (-27%) from 2019

Expenses

Down

$202,418

Down $5,867 (-2.8%) from 2019

Net Income

Down

-$26,072

Down $59,251 (-179%) from 2019

Historical Trend

Balance Sheet Trend

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

$150K$100K$50K$0Assets 2012: $89,694Liabilities 2012: $75,075Net Assets 2012: $14,6192012Assets 2013: $78,923Liabilities 2013: $40,567Net Assets 2013: $38,3562013Assets 2014: $59,599Liabilities 2014: $0Net Assets 2014: $59,5992014Assets 2015: $49,701Liabilities 2015: $0Net Assets 2015: $49,7012015Assets 2016: $23,263Liabilities 2016: $0Net Assets 2016: $23,2632016Assets 2017: $32,142Liabilities 2017: $0Net Assets 2017: $32,1422017Assets 2018: $56,402Liabilities 2018: $953Net Assets 2018: $55,4492018Assets 2019: $88,628Liabilities 2019: $0Net Assets 2019: $88,6282019Assets 2020: $104,633Liabilities 2020: $42,077Net Assets 2020: $62,5562020Assets 2021: $0Net Assets 2021: $02021

Highlighted filing

2020

Assets$104,633
Liabilities$42,077
Net Assets$62,556

Operations Trend

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

$600K$400K$200K$0-$200KExpenses 2012: $224,3062012Expenses 2013: $410,5952013Revenue 2014: $439,974Expenses 2014: $418,731Net Income 2014: $21,2432014Revenue 2015: $129,614Expenses 2015: $139,512Net Income 2015: -$9,8982015Revenue 2016: $144,852Expenses 2016: $171,290Net Income 2016: -$26,4382016Revenue 2017: $190,731Expenses 2017: $181,852Net Income 2017: $8,8792017Revenue 2018: $221,091Expenses 2018: $197,784Net Income 2018: $23,3072018Revenue 2019: $241,464Expenses 2019: $208,285Net Income 2019: $33,1792019Revenue 2020: $176,346Expenses 2020: $202,418Net Income 2020: -$26,0722020Revenue 2021: $48,293Expenses 2021: $97,703Net Income 2021: -$49,4102021

Highlighted filing

2020

Revenue$176,346
Expenses$202,418
Net Income-$26,072
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Nov 25, 2020
Return Version
2019v5.0
Gross Receipts
$176,346
Mission and Program Overview

Mission

Our mission is to promote and facilitate academic, social and emotional learning for economically disadvantaged as well as financially able elementary school students in conventional and minority communities.

Myndflexs mission is to empower students to thrive at school and in an increasingly multicultural society by: providing strong academic support, instilling appreciation for diverse world cultures, and contributing to their social-emotional wellness.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$86,267$103,464▲ $17,197
Accounts Receivable$891$596▼ $295
Land, Buildings, and Equipment, Net$1,470$573▼ $897
Total Assets$88,628$104,633▲ $16,005
Liabilities
Other Liabilities-$42,077-
Total Liabilities$0$42,077▲ $42,077
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$88,628$62,556▼ $26,072
Total Net Assets Fund Balance$88,628$62,556▼ $26,072
Total Liabilities and Net Assets / Fund Balance$88,628$104,633▲ $16,005

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$573$10,908$11,481
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Sangeeta KediaTreasurerPT$33,500$33,500
Savita PrakashOfficerPT$33,500$33,500
Sharmila RoyOfficerPT$12,500$12,500

Board Members and Trustees

NameTitle
Umesh JagannathaBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$1,704
Program Service Revenue
$174,641
Investment Income
$1
Other Revenue
$0
All Other Contributions
$1,704
Change in Net Assets
$-26,072
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$157,047
Other Expenses$43,721
Grants and Similar Amounts Paid$1,650
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$144,959--$144,959
Fees for Services Other$18,535--$18,535
Occupancy$13,880--$13,880
Payroll Taxes$12,088--$12,088
Interest$6,040--$6,040
Grants to Domestic Individuals$1,650--$1,650
Fees for Services Legal$1,375--$1,375
Office Expenses$1,354--$1,354
Information Technology$1,259--$1,259
Depreciation Depletion$896--$896
Advertising$382--$382
Total Functional Expenses$202,418$0$0$202,418
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
Ppp Loans$34,077
Eidl$8,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI

Governing body meeting documentation (part vi, line 8a) the organization documents the meetings held by the board of directors in a minute book. Form 990 governing body review (part vi line 11) the books are prepared in house. They are reviewed by an outside accountant who seeks clarifications as needed. The draft tax returns and supporting documents are presented to the board of directors for review, the directors review the accuracy of the tax return and make corrections as needed before the return is finalized and filed. Conflict of interest policy compliance (part vi, line 12c) officers and directors are required to disclose annually if they have any conflict of interest with the organization and the nature of the conflicts. Any officers or directors who might have a conflict of interest is excused from the decision making with regard to the transaction that might create a conflict. Ceo, executive director, top management compensation (part vi line 15a) the organization uses market data to determine the compensation of its ceo and other top management officers. Other officer or key employee compensation (part vi line 15b) the organizationuses market data to determine the compensation for other officers and key employees. Governing documents, etc available to public (part vi line 19) the organization's governing documents and form 1023 and annual form 990 are available upon request from the public.

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
Mynd Flex Inc
EIN
27-3322120
Phone
9256058173
Address
33412 PONY LOOP, FREMONT, CA 94555

Signing Officer

Name
Sangeeta Kedia
Title
Treasurer
Phone
9256058173
Signed
2020-11-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sangeeta Kedia
Formed
2010
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
0
Employees
13
Volunteers
7

Preparer

Firm
Ram Accountancy Services
Address
1975 O TOOLE WAY, SAN JOSE, CA 95131
Preparer
Raman Rangarajan
Phone
4088665860
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Myndflexs mission is to empower students to thrive at school and in an increasingly multicultural society by: providing strong academic support, instilling appreciation for diverse world cultures, and contributing to their social-emotional wellness.

Form 990, Page 2, Part III, Line 4D

Myndflexs mission is to empower students to thrive at school and in an increasingly multicultural society by: providing strong academic support, instilling appreciation for diverse world cultures, and contributing to their social-emotional wellness.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MYNDFLEXS MISSION IS TO EMPOWER STUDENTS TO THRIVE AT SCHOOL AND IN AN INCREASINGLY MULTICULTURAL SOCIETY BY: PROVIDING STRONG ACADEMIC SUPPORT, INSTILLING APPRECIATION FOR DIVERSE WORLD CULTURES, AND CONTRIBUTING TO THEIR SOCIAL-EMOTIONAL WELLNESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING BODY MEETING DOCUMENTATION (PART VI, LINE 8A) THE ORGANIZATION DOCUMENTS THE MEETINGS HELD BY THE BOARD OF DIRECTORS IN A MINUTE BOOK. FORM 990 GOVERNING BODY REVIEW (PART VI LINE 11) THE BOOKS ARE PREPARED IN HOUSE. THEY ARE REVIEWED BY AN OUTSIDE ACCOUNTANT WHO SEEKS CLARIFICATIONS AS NEEDED. THE DRAFT TAX RETURNS AND SUPPORTING DOCUMENTS ARE PRESENTED TO THE BOARD OF DIRECTORS FOR REVIEW, THE DIRECTORS REVIEW THE ACCURACY OF THE TAX RETURN AND MAKE CORRECTIONS AS NEEDED BEFORE THE RETURN IS FINALIZED AND FILED. CONFLICT OF INTEREST POLICY COMPLIANCE (PART VI, LINE 12C) OFFICERS AND DIRECTORS ARE REQUIRED TO DISCLOSE ANNUALLY IF THEY HAVE ANY CONFLICT OF INTEREST WITH THE ORGANIZATION AND THE NATURE OF THE CONFLICTS. ANY OFFICERS OR DIRECTORS WHO MIGHT HAVE A CONFLICT OF INTEREST IS EXCUSED FROM THE DECISION MAKING WITH REGARD TO THE TRANSACTION THAT MIGHT CREATE A CONFLICT. CEO, EXECUTIVE DIRECTOR, TOP MANAGEMENT COMPENSATION (PART VI LINE 15A) THE ORGANIZATION USES MARKET DATA TO DETERMINE THE COMPENSATION OF ITS CEO AND OTHER TOP MANAGEMENT OFFICERS. OTHER OFFICER OR KEY EMPLOYEE COMPENSATION (PART VI LINE 15B) THE ORGANIZATIONUSES MARKET DATA TO DETERMINE THE COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES. GOVERNING DOCUMENTS, ETC AVAILABLE TO PUBLIC (PART VI LINE 19) THE ORGANIZATION'S GOVERNING DOCUMENTS AND FORM 1023 AND ANNUAL FORM 990 ARE AVAILABLE UPON REQUEST FROM THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
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ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MYND FLEX INC
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ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0654189DFE75D7A1002B6808EDE46727351B9AF4E
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt096.78.187.219
ReturnHeader/FilingSecurityInformation/IPDt02020-12-02
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm012:10:21
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0205987867
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RAM ACCOUNTANCY SERVICES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01975 O TOOLE WAY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SAN JOSE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
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ReturnHeader/PreparerPersonGrp/PhoneNum04088665860
ReturnHeader/PreparerPersonGrp/PreparationDt02020-12-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RAMAN RANGARAJAN
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ReturnHeader/ReturnTs02020-12-02T12:10:21-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

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