Civic Intelligence

Westlake Education Foundation (USA) Inc

EIN 32-0547249 • 501(c)3 • New York, NY

Profile

Westlake education foundation was founded to advance the goals of supporting higher education and advocate for global exchanges. Through academia exchange programs, the foundation provides support for fellowships, (continued on schedule o)scholarships for undergraduate studies and sponsorship of seminars.

Refreshing map…

233 Broadway Suite 2205New York, NY 10279

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

6th percentile

0.00x

Higher debt load relative to assets than 6% of similar nonprofits.

NTEE B • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

6th percentile

0.00x

Higher debt load relative to revenue than 6% of similar nonprofits.

NTEE B • $10M-$25M nonprofits • Source year 2024

Net Margin

99th percentile

92%

Higher net margin than 99% of similar nonprofits.

NTEE B • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

24th percentile

$0

Higher top officer pay than 24% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

NTEE B • $10M-$25M nonprofits • Source year 2024

Asset Growth

55th percentile

5.1%

Faster asset growth than 55% of similar nonprofits.

NTEE B • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

94th percentile

97%

Faster revenue growth than 94% of similar nonprofits.

NTEE B • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets6th percentile

Assets

Up

$15,895,214

Up $953,233 (+6.4%) from 2022

Liabilities

Down

$356

Down $8,210 (-96%) from 2022

Net Assets

Up

$15,894,858

Up $961,443 (+6.4%) from 2022

Operations
Liabilities / Revenue6th percentileNet Margin99th percentile

Revenue

Down

$478,832

Down $11,371,984 (-96%) from 2022

Expenses

Down

$36,677

Down $1,976 (-5.1%) from 2022

Net Income

Down

$442,155

Down $11,370,008 (-96%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth55th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$15M$10M$5.0M$0Assets 2021: $3,121,252Liabilities 2021: $0Net Assets 2021: $3,121,2522021Assets 2022: $14,941,981Liabilities 2022: $8,566Net Assets 2022: $14,933,4152022Assets 2024: $15,895,214Liabilities 2024: $356Net Assets 2024: $15,894,8582024

Highlighted filing

2024

Assets$15,895,214
Liabilities$356
Net Assets$15,894,858
Open 2024 Filing

Operations Trend

Revenue Growth94th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$15M$10M$5.0M$0Revenue 2021: $3,100,262Expenses 2021: $7,632Net Income 2021: $3,092,6302021Revenue 2022: $11,850,816Expenses 2022: $38,653Net Income 2022: $11,812,1632022Revenue 2024: $478,832Expenses 2024: $36,677Net Income 2024: $442,1552024

Highlighted filing

2024

Revenue$478,832
Expenses$36,677
Net Income$442,155
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$15,895,214
Liabilities
$356
Net assets
$15,894,858
Revenue
$478,832
Expenses
$36,677
Net income
$442,155
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.9$0.00$15.9$0.48$0.04$0.44
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.9$0.01$14.9$11.9$0.04$11.8
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.12$0.00$3.12$3.10$0.01$3.09
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Jul 9, 2025
Return Version
2023v6.0
Gross Receipts
$478,832
Mission and Program Overview

Mission

Westlake education foundation was founded to advance the goals of supporting higher education and advocate for global exchanges. Through academia exchange programs, the foundation provides support for fellowships, (continued on schedule o)scholarships for undergraduate studies and sponsorship of seminars.

Westlake education foundation was founded to advance the goals of supporting higher education and advocate for global exchanges. Through academia exchange programs, the foundation provides support for fellowships, scholarships for undergraduate studies and sponsorship of seminars.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$9,016,966$8,002,499▼ $1,014,467
Savings and Temporary Cash Investments$5,066,766$6,787,525▲ $1,720,759
Cash and Non-Interest-Bearing Accounts$958,114$965,304▲ $7,190
Total Assets$15,126,934$15,895,214▲ $768,280
Other Assets Total$85,088$139,886▲ $54,798
Liabilities
Accounts Payable and Accrued Expenses$4,859$356▼ $4,503
Total Liabilities$4,859$356▼ $4,503
Net Assets / Fund Balance
Net Assets With Donor Restrictions$14,922,228$15,407,761▲ $485,533
Net Assets Without Donor Restrictions$199,847$487,097▲ $287,250
Total Net Assets Fund Balance$15,122,075$15,894,858▲ $772,783
Total Liabilities and Net Assets / Fund Balance$15,126,934$15,895,214▲ $768,280
Compensation and Service Providers
Top Officer Pay24th percentile

Board Members and Trustees

NameTitle
Zhongxue GanChairman
Tian XuDirector
Jianying DuDirector (eff 1/19/24)
Feng DengDirector (thru 12/4/24)
Minhao LiuSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$203,275
Program Service Revenue
$0
Investment Income
$275,557
Other Revenue
$0
All Other Contributions
$203,275
Change in Net Assets
$442,155

Audited Revenue Reconciliation

Revenue per Audited Statements
$478,832
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$330,628
Total Revenue per Audited Statements
$809,460
Total Revenue per Form 990
$478,832
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$36,677
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting-$22,368-$22,368
Fees for Services Legal-$9,917-$9,917
Insurance-$4,212-$4,212
Other Expenses-$180-$180
Total Functional Expenses$0$36,677$0$36,677

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$36,677
Total Expenses per Audited Statements$36,677
Total Expenses per Form 990$36,677
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Audit committee
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, Section A, Line 8B

“The organization does not have any committees with the authority to act on behalf of the governing body”

Form 990, Part VI, Section B, Line 11B

“The tax return will be sent to the board of directors for review, highlighted with the significant matters on the current year's return that should be brought to the attention of the board.”

Form 990, Part VI, Section B, Line 12C

“The board reviews and monitors the major contracts/transactions of the organization, should any event that gives rise to such concerns occur during the year.”

Form 990, Part VI, Section C, Line 19

“Financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Westlake Education Foundation (usa) Inc
EIN
32-0547249
Phone
2126086500
Address
233 BROADWAY SUITE 2205, NEW YORK, NY 10279

Signing Officer

Name
Minhao Liu
Title
Secretary/treasurer
Phone
2126086500
Signed
2025-07-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jian Yang
Formed
2017
Legal Domicile
De
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Eisner Advisory Group LLC
Address
130 NORTH 18TH STREET SUITE 3000, PHILADELPHIA, PA 19103
Preparer
Helen M Martin
Phone
2158818800
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Gain on foreign currency exchange on collection of pledge receivable 330,628.”

Form 990, Part XII, Line 2C

“The board of directors is responsible for oversight of the audit and selection of the independent accountant. Due to the small size of the board, no separate committee has been formed for this purpose.”

Financial Statement Notes

PART X, LINE 2:

“The foundation is classified by the internal revenue service as an organization described under section 501(c)(3) of the internal revenue code ("code") and is exempt from federal income taxes under section 501(a) of the code. U.s. Gaap requires management to evaluate tax positions taken and recognize a tax liability, if the foundation has taken an uncertain tax position that more likely than not would not be sustained upon examination by a government authority. Management has analyzed the tax positions taken by the foundation and has concluded that as of september 30, 2024, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The foundation recognizes accrued interest and penalties associated with uncertain tax positions, if any. There were no income tax related interest and penalties recorded for the years ended september 30, 2024 and 2023.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Gain on foreign currency exchange on collection of pledge receivable 330,628.”

Raw XML Appendix336 raw XML fields

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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS AN ORGANIZATION DESCRIBED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("CODE") AND IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE CODE. U.S. GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN AND RECOGNIZE A TAX LIABILITY, IF THE FOUNDATION HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY A GOVERNMENT AUTHORITY. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION AND HAS CONCLUDED THAT AS OF SEPTEMBER 30, 2024, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE FOUNDATION RECOGNIZES ACCRUED INTEREST AND PENALTIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS, IF ANY. THERE WERE NO INCOME TAX RELATED INTEREST AND PENALTIES RECORDED FOR THE YEARS ENDED SEPTEMBER 30, 2024 AND 2023.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1GAIN ON FOREIGN CURRENCY EXCHANGE ON COLLECTION OF PLEDGE RECEIVABLE 330,628.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt036677
IRS990ScheduleD/TotalRevenuePerForm990Amt0478832
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0809460
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt036677
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE TAX RETURN WILL BE SENT TO THE BOARD OF DIRECTORS FOR REVIEW, HIGHLIGHTED WITH THE SIGNIFICANT MATTERS ON THE CURRENT YEAR'S RETURN THAT SHOULD BE BROUGHT TO THE ATTENTION OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD REVIEWS AND MONITORS THE MAJOR CONTRACTS/TRANSACTIONS OF THE ORGANIZATION, SHOULD ANY EVENT THAT GIVES RISE TO SUCH CONCERNS OCCUR DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GAIN ON FOREIGN CURRENCY EXCHANGE ON COLLECTION OF PLEDGE RECEIVABLE 330,628.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT ACCOUNTANT. DUE TO THE SMALL SIZE OF THE BOARD, NO SEPARATE COMMITTEE HAS BEEN FORMED FOR THIS PURPOSE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/StatesWhereCopyOfReturnIsFldCd1CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt015126934
IRS990/TotalAssetsEOYAmt015895214
IRS990/TotalAssetsGrp/BOYAmt015126934
IRS990/TotalAssetsGrp/EOYAmt015895214
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0203275
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt036677
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt036677
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04859
IRS990/TotalLiabilitiesEOYAmt0356
IRS990/TotalLiabilitiesGrp/BOYAmt04859
IRS990/TotalLiabilitiesGrp/EOYAmt0356
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt015122075
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt015894858
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0275557
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0478832
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt015126934
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt015895214
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0233 BROADWAY SUITE 2205
IRS990/USAddress/CityNm0NEW YORK
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010279
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MINHAO LIU
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02126086500
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-07-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WESTLAKE EDUCATION FOUNDATION (USA) INC
ReturnHeader/Filer/BusinessNameControlTxt0WEST
ReturnHeader/Filer/EIN0320547249
ReturnHeader/Filer/PhoneNum02126086500
ReturnHeader/Filer/USAddress/AddressLine1Txt0233 BROADWAY SUITE 2205
ReturnHeader/Filer/USAddress/CityNm0NEW YORK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010279
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0871353108
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0EISNER ADVISORY GROUP LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0130 NORTH 18TH STREET SUITE 3000
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PHILADELPHIA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd019103
ReturnHeader/PreparerPersonGrp/PhoneNum02158818800
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0HELEN M MARTIN
ReturnHeader/ReturnTs02025-07-11T08:51:32-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-10-01
ReturnHeader/TaxPeriodEndDt02024-09-30
ReturnHeader/TaxYr02023

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