Civic Intelligence

Give Chances Inc.

990 • Fiscal year 2019 • EIN 45-0725864

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 13, 2020

235 Pegasus AveNorthvale, NJ 07647

(201) 266-0726

Siviq Scores

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

Liabilities / Assets

80th percentile

0.09x

Higher debt load relative to assets than 80% of similar nonprofits.

2019 filings • NTEE Q30 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

86th percentile

0.09x

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

2019 filings • NTEE Q30 • <$500k nonprofits • Source year 2019

Net Margin

32nd percentile

-5.8%

Higher net margin than 32% of similar nonprofits.

2019 filings • NTEE Q30 • <$500k nonprofits • Source year 2019

Top Officer Pay

98th percentile

$62,321

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 24.4% of source-year revenue.

2019 filings • NTEE Q30 • <$500k nonprofits • Source year 2019

Asset Growth

39th percentile

-2.9%

Faster asset growth than 39% of similar nonprofits.

2019 filings • NTEE Q30 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

76th percentile

51%

Faster revenue growth than 76% of similar nonprofits.

2019 filings • NTEE Q30 • <$500k nonprofits • Annualized from 2018 to 2019

Assets

Down

$244,298

Down $7,366 (-2.9%) from 2018

Net Assets

Down

$221,852

Down $14,919 (-6.3%) from 2018

Liabilities

Up

$22,446

Up $7,553 (+51%) from 2018

Revenue

Up

$255,339

Up $86,341 (+51%) from 2018

Expenses

Down

$270,258

Down $50,016 (-16%) from 2018

Net Income

Up

-$14,919

Up $136,357 (+90%) from 2018

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2011: $9,037Liabilities 2011: $02011Assets 2012: $8,724Liabilities 2012: $02012Assets 2013: $75,568Liabilities 2013: $0Net Assets 2013: $75,5682013Assets 2014: $90,200Liabilities 2014: $0Net Assets 2014: $90,2002014Assets 2015: $122,785Liabilities 2015: $0Net Assets 2015: $122,7852015Assets 2016: $346,851Liabilities 2016: $3,045Net Assets 2016: $343,8062016Assets 2017: $389,563Liabilities 2017: $1,516Net Assets 2017: $388,0472017Assets 2018: $251,664Liabilities 2018: $14,893Net Assets 2018: $236,7712018Assets 2019: $244,298Liabilities 2019: $22,446Net Assets 2019: $221,8522019Assets 2020: $275,402Liabilities 2020: $7,309Net Assets 2020: $268,0932020Assets 2021: $373,128Liabilities 2021: $28,781Net Assets 2021: $344,3472021Assets 2022: $310,849Liabilities 2022: $38,906Net Assets 2022: $271,9432022Assets 2023: $588,301Liabilities 2023: $19,497Net Assets 2023: $568,8042023Assets 2024: $489,068Liabilities 2024: $6,311Net Assets 2024: $482,7572024

Highlighted filing

2019

Assets$244,298
Liabilities$22,446
Net Assets$221,852

Operations Trend

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

$800K$600K$400K$200K$0-$200KRevenue 2011: $33,131Expenses 2011: $24,094Net Income 2011: $9,0372011Revenue 2012: $157,622Expenses 2012: $157,935Net Income 2012: -$3132012Revenue 2013: $202,078Expenses 2013: $135,234Net Income 2013: $66,8442013Revenue 2014: $36,692Expenses 2014: $22,060Net Income 2014: $14,6322014Revenue 2015: $36,952Expenses 2015: $4,367Net Income 2015: $32,5852015Revenue 2016: $276,416Expenses 2016: $55,395Net Income 2016: $221,0212016Revenue 2017: $122,564Expenses 2017: $75,305Net Income 2017: $47,2592017Revenue 2018: $168,998Expenses 2018: $320,274Net Income 2018: -$151,2762018Revenue 2019: $255,339Expenses 2019: $270,258Net Income 2019: -$14,9192019Revenue 2020: $295,075Expenses 2020: $248,834Net Income 2020: $46,2412020Revenue 2021: $361,585Expenses 2021: $285,331Net Income 2021: $76,2542021Revenue 2022: $320,074Expenses 2022: $392,478Net Income 2022: -$72,4042022Revenue 2023: $622,206Expenses 2023: $361,516Net Income 2023: $260,6902023Revenue 2024: $511,439Expenses 2024: $582,823Net Income 2024: -$71,3842024

Highlighted filing

2019

Revenue$255,339
Expenses$270,258
Net Income-$14,919
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 13, 2020
Return Version
2019v5.0
Gross Receipts
$255,339
Mission and Program Overview

Mission

To encourage education and educational excellence through academic programs, grants, scholarship, and financial assistance to the students and people underprivileged in the united states and developing countries who do not have learning opportunities due to financial hardship. To provide the students with various opportunities to achieve the academic, musical, artistic and spiritual development so that in the future they can give back, directly or indirectly, same chances and hopes to the children underprivileged.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$118,948$203,809▲ $84,861
Cash and Non-Interest-Bearing Accounts$128,458$23,067▼ $105,391
Prepaid Expenses and Deferred Charges$858$14,022▲ $13,164
Total Assets$251,664$244,298▼ $7,366
Other Assets Total$3,400$3,400→ $0
Liabilities
Other Liabilities$12,993$21,571▲ $8,578
Accounts Payable and Accrued Expenses$1,900$875▼ $1,025
Total Liabilities$14,893$22,446▲ $7,553
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$236,771$221,852▼ $14,919
Total Net Assets Fund Balance$236,771$221,852▼ $14,919
Total Liabilities and Net Assets / Fund Balance$251,664$244,298▼ $7,366
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Sungbong KimExecutive DiFT$62,321$62,321

Board Members and Trustees

NameTitle
Hyungmin LeePresident
Eric KangTrustee
Jimmy SongTrustee
Edward YunTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$251,253
Program Service Revenue
$0
Investment Income
$4,086
Other Revenue
$0
All Other Contributions
$243,253
Change in Net Assets
$-14,919
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$166,159
Other Expenses$103,899
Grants and Similar Amounts Paid$200
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$70,617$11,720-$82,337
Current Officers, Directors, Trustees, and Key Employees$62,321--$62,321
Occupancy$14,960$3,740-$18,700
Payroll Taxes$13,286$3,322-$16,608
Office Expenses$11,428$2,857-$14,285
Fees for Services Other$6,152$1,537-$7,689
Fees for Services Legal$4,388$1,097-$5,485
Insurance$4,128$1,032-$5,160
Other Employee Benefits$3,914$979-$4,893
Travel$1,804$451-$2,255
Information Technology$993$248-$1,241
Other Expenses$960$240-$1,200
All Other Expenses$492$123-$615
Grants to Domestic Orgs$200--$200
Total Functional Expenses$233,458$36,800$0$270,258
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
Accrued Expenses$10,504
Payroll Payable$5,315
Federal Taxes Payable$1,956
Flexible Spending Account Payable$1,625
Credit Card$1,548
State Taxes Payable$623
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

Once the form 990 is prepared by the paid preparer, it is presented to the treasurer for an initial review. Upon the intial review performed by the treasurer, he or she provides the entire package to the president for the second review. Once reviewed by the president, it is presented to the board of trustees for the final review and sign-off.

Form 990, Page 6, Part VI, Line 15B

The compensation and other benefit package, if any, of any officers are reviewed and approved by the board of trustees.

Form 990, Page 6, Part VI, Line 19

The governing documents are available to the general public on a written or in-person request at the principle office of the organization.

Filing and Contact Details

Filer

Filer Name
Give Chances Inc
EIN
45-0725864
Phone
2012660726
Address
235 PEGASUS AVE, NORTHVALE, NJ 07647

Signing Officer

Name
Hyungmin Lee
Title
President
Phone
2012660726
Signed
2020-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Hyungmin Lee
Formed
2011
Legal Domicile
Nj
Voting Board Members
5
Independent Board Members
2
Employees
6
Volunteers
18

Preparer

Firm
Klichs Llp
Address
3505 KOGER BLVD STE 355, DULUTH, GA 30096-8900
Preparer
Youngtae Kim
Phone
4708513600
Supplemental Narrative

Additional Explanations

Form 990

Organization's mission or most significant activities to encourage education and educational excellence through academic programs, grants, scholarship, and financial assistqance to the students and people privileged in the united states and developing countries who do not have learning opportunities due to financial hardship. To provide the students with various opportunities to achive the academic,musical, artistic and spiritual development so that in the future they can give back, directly or indirectly, same chances and hopes to the children privileged.

Form 990, Part III

Organization's mission 1. To encourage education and educational excellence through academic programs, grants, scholarship, and financial assistqance to the students and people privileged in the united states and developing countries who do not have learning opportunities due to financial hardship. 2. To provide the students with various opportunities to achive the academic,musical, artistic and spiritual development so that in the future they can give back, directly or indirectly, same chances and hopes to the children privileged.

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

MANAGEMENT & GENERAL

Raw XML Appendix391 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ORGANIZATION'S MISSION OR MOST SIGNIFICANT ACTIVITIES TO ENCOURAGE EDUCATION AND EDUCATIONAL EXCELLENCE THROUGH ACADEMIC PROGRAMS, GRANTS, SCHOLARSHIP, AND FINANCIAL ASSISTQANCE TO THE STUDENTS AND PEOPLE PRIVILEGED IN THE UNITED STATES AND DEVELOPING COUNTRIES WHO DO NOT HAVE LEARNING OPPORTUNITIES DUE TO FINANCIAL HARDSHIP. TO PROVIDE THE STUDENTS WITH VARIOUS OPPORTUNITIES TO ACHIVE THE ACADEMIC,MUSICAL, ARTISTIC AND SPIRITUAL DEVELOPMENT SO THAT IN THE FUTURE THEY CAN GIVE BACK, DIRECTLY OR INDIRECTLY, SAME CHANCES AND HOPES TO THE CHILDREN PRIVILEGED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ORGANIZATION'S MISSION 1. TO ENCOURAGE EDUCATION AND EDUCATIONAL EXCELLENCE THROUGH ACADEMIC PROGRAMS, GRANTS, SCHOLARSHIP, AND FINANCIAL ASSISTQANCE TO THE STUDENTS AND PEOPLE PRIVILEGED IN THE UNITED STATES AND DEVELOPING COUNTRIES WHO DO NOT HAVE LEARNING OPPORTUNITIES DUE TO FINANCIAL HARDSHIP. 2. TO PROVIDE THE STUDENTS WITH VARIOUS OPPORTUNITIES TO ACHIVE THE ACADEMIC,MUSICAL, ARTISTIC AND SPIRITUAL DEVELOPMENT SO THAT IN THE FUTURE THEY CAN GIVE BACK, DIRECTLY OR INDIRECTLY, SAME CHANCES AND HOPES TO THE CHILDREN PRIVILEGED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MANAGEMENT & GENERAL
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ONCE THE FORM 990 IS PREPARED BY THE PAID PREPARER, IT IS PRESENTED TO THE TREASURER FOR AN INITIAL REVIEW. UPON THE INTIAL REVIEW PERFORMED BY THE TREASURER, HE OR SHE PROVIDES THE ENTIRE PACKAGE TO THE PRESIDENT FOR THE SECOND REVIEW. ONCE REVIEWED BY THE PRESIDENT, IT IS PRESENTED TO THE BOARD OF TRUSTEES FOR THE FINAL REVIEW AND SIGN-OFF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE COMPENSATION AND OTHER BENEFIT PACKAGE, IF ANY, OF ANY OFFICERS ARE REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE GOVERNING DOCUMENTS ARE AVAILABLE TO THE GENERAL PUBLIC ON A WRITTEN OR IN-PERSON REQUEST AT THE PRINCIPLE OFFICE OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART III
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.89$0.06$4.83$5.11$5.83$0.71
2023Summary only. Only limited summary data is available for this year.$5.88$0.19$5.69$6.22$3.62$2.61
2022Summary only. Only limited summary data is available for this year.$3.11$0.39$2.72$3.20$3.92$0.72
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.73$0.29$3.44$3.62$2.85$0.76
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.75$0.07$2.68$2.95$2.49$0.46
2019Detailed filing. Detailed filing data is available for this year.$2.44$0.22$2.22$2.55$2.70$0.15
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.52$0.15$2.37$1.69$3.20$1.51
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.90$0.02$3.88$1.23$0.75$0.47
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.47$0.03$3.44$2.76$0.55$2.21
2015Detailed filing. Detailed filing data is available for this year.$1.23$0.00$1.23$0.37$0.04$0.33
2014Detailed filing. Detailed filing data is available for this year.$0.90$0.00$0.90$0.37$0.22$0.15
2013Summary only. Only limited summary data is available for this year.$0.76$0.00$0.76$2.02$1.35$0.67
2012Summary only. Only limited summary data is available for this year.$0.09$0.00$1.58$1.58$0.00
2011Summary only. Only limited summary data is available for this year.$0.09$0.00$0.33$0.24$0.09