Civic Intelligence

The Miami Herald Charities Inc.

990 • Fiscal year 2021 • EIN 59-6138383

Oct 01, 2020 to Sep 30, 2021 • Filed on Jun 15, 2021

11410 NW 20th Street Suite 222Miami, FL 33172

(305) 376-2525

Siviq Scores

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

Liabilities / Assets

36th percentile

0.02x

Higher debt load relative to assets than 36% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

46th percentile

0.07x

Higher debt load relative to revenue than 46% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

73rd percentile

30%

Higher net margin than 73% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

61st percentile

15%

Faster asset growth than 61% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

75th percentile

47%

Faster revenue growth than 75% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$2,418,328

Up $319,449 (+15%) from 2020

Net Assets

Up

$2,368,026

Up $334,843 (+16%) from 2020

Liabilities

Down

$50,302

Down $15,394 (-23%) from 2020

Revenue

Up

$718,556

Up $230,479 (+47%) from 2020

Expenses

Up

$506,273

Up $42,899 (+9.3%) from 2020

Net Income

Up

$212,283

Up $187,580 (+759%) from 2020

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2013: $364,836Liabilities 2013: $114,532Net Assets 2013: $250,3042013Assets 2014: $434,145Liabilities 2014: $44,162Net Assets 2014: $389,9832014Assets 2015: $408,562Liabilities 2015: $28,986Net Assets 2015: $379,5762015Assets 2016: $408,960Liabilities 2016: $19,152Net Assets 2016: $389,8082016Assets 2017: $386,751Liabilities 2017: $49,200Net Assets 2017: $337,5512017Assets 2018: $2,007,237Liabilities 2018: $24,500Net Assets 2018: $1,982,7372018Assets 2019: $2,000,003Liabilities 2019: $24,818Net Assets 2019: $1,975,1852019Assets 2020: $2,098,879Liabilities 2020: $65,696Net Assets 2020: $2,033,1832020Assets 2021: $2,418,328Liabilities 2021: $50,302Net Assets 2021: $2,368,0262021Assets 2022: $2,136,490Liabilities 2022: $169,857Net Assets 2022: $1,966,6332022Assets 2023: $2,073,376Liabilities 2023: $20,277Net Assets 2023: $2,053,0992023Assets 2024: $2,255,918Liabilities 2024: $27,154Net Assets 2024: $2,228,7642024

Highlighted filing

2021

Assets$2,418,328
Liabilities$50,302
Net Assets$2,368,026

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2013: $487,4842013Revenue 2014: $539,469Expenses 2014: $399,790Net Income 2014: $139,6792014Revenue 2015: $570,356Expenses 2015: $580,763Net Income 2015: -$10,4072015Revenue 2016: $487,995Expenses 2016: $477,763Net Income 2016: $10,2322016Revenue 2017: $544,145Expenses 2017: $596,402Net Income 2017: -$52,2572017Revenue 2018: $2,099,663Expenses 2018: $454,477Net Income 2018: $1,645,1862018Revenue 2019: $470,640Expenses 2019: $515,459Net Income 2019: -$44,8192019Revenue 2020: $488,077Expenses 2020: $463,374Net Income 2020: $24,7032020Revenue 2021: $718,556Expenses 2021: $506,273Net Income 2021: $212,2832021Revenue 2022: $477,092Expenses 2022: $637,336Net Income 2022: -$160,2442022Revenue 2023: $511,310Expenses 2023: $602,608Net Income 2023: -$91,2982023Revenue 2024: $404,562Expenses 2024: $589,279Net Income 2024: -$184,7172024

Highlighted filing

2021

Revenue$718,556
Expenses$506,273
Net Income$212,283
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
Jun 15, 2021
Return Version
2020v4.0
Gross Receipts
$718,556
Mission and Program Overview

Mission

Herald charities is primarily involved in the accumulation of funds for charitable and benevolent purposes for the aid of the needy or worthy individuals and not for profit organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$1,560,418$1,899,035▲ $338,617
Cash and Non-Interest-Bearing Accounts$374,988$519,293▲ $144,305
Pledges and Grants Receivable$163,473--
Total Assets$2,098,879$2,418,328▲ $319,449
Liabilities
Accounts Payable and Accrued Expenses$65,696$50,302▼ $15,394
Total Liabilities$65,696$50,302▼ $15,394
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,623,890$1,799,036▲ $175,146
Net Assets Without Donor Restrictions$409,293$568,990▲ $159,697
Total Net Assets Fund Balance$2,033,183$2,368,026▲ $334,843
Total Liabilities and Net Assets / Fund Balance$2,098,879$2,418,328▲ $319,449

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$1,899,035--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Bob McfarlinPresident
Nancy MeyerPresident 12
Juan CornejoBoard Member
Monica RichardsonBoard Member
Nancy AncrumBoard Member
Raymond DuenasBoard Member
Rick HirschBoard Member
Tanya Christie BennettSecretary/tr
Erasmo AcostaTreas./secre
Revenue and Support

Revenue Composition

Contributions and Grants
$589,003
Program Service Revenue
$0
Investment Income
$129,553
Other Revenue
$0
All Other Contributions
$589,003
Change in Net Assets
$212,283

Audited Revenue Reconciliation

Revenue per Audited Statements
$718,556
Revenue Not Reported on Form 990
$122,560
Total Revenue per Audited Statements
$841,116
Total Revenue per Form 990
$718,556
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$369,324
Other Expenses$136,949
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$369,324--$369,324
Fees for Services Management-$108,406-$108,406
Fees for Services Accounting-$10,800-$10,800
Fees for Service Investment Mgmnt Fees-$9,388-$9,388
Other Expenses-$4,357-$4,357
Office Expenses-$2,856-$2,856
Insurance-$1,142-$1,142
Total Functional Expenses$369,324$136,949$0$506,273

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$506,273
Total Expenses per Audited Statements$506,273
Total Expenses per Form 990$506,273
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
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
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, Page 6, Part VI, Line 11B

Form 990 is reviewed by the miami herald's finance department.

Form 990, Page 6, Part VI, Line 19

Governing documents are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
The Herald Charities Inc
EIN
59-6138383
Phone
3053762525
Address
11410 NW 20TH STREET SUITE 222, MIAMI, FL 33172

Signing Officer

Name
Tanya Christie Bennett
Title
Secretary/treasurer
Phone
3053762576
Signed
2021-06-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bob Mcfarlin
Formed
1977
Legal Domicile
Fl
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
7

Preparer

Firm
Caballero Fierman Llerena & Garcia Llp
Address
8950 SW 74 COURT STE 1210, MIAMI, FL 33156
Preparer
Nestor Caballero CPA Mst
Phone
3056627272
Supplemental Narrative

Additional Explanations

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

Holiday wishbook program: the organization operates under the holiday wishbook program, whereby readers of the miami herald and el nuevo herald are solicited to donate funds for the benefit of the needy individuals who are profiled in the newspapers. The herald charities, inc. Profiles needy people in the miami herald media company's newspaper during the thanksgiving and christmas holidays. Since its founding more than 100 years ago, the miami herald has championed the needs of the less fortunate in the south florida community. In 1952, the miami herald lend-a-hand fund was incorporated to formalize these efforts. In december 1982, the miami herald published its first wish book in an effort to spotlight needy individuals in south florida. The miami herald charities was officially founded in 1995 to offer readers an opportunity to make a difference in a neighbor's life. Since then, the miami herald readers, together with spanish-language readers of el nuevo herald, have contributed several million dollars to assist some of the neediest people in our community. Wishes ranged from food, clothing, and toys for the holidays to more desperately needed items such as medical services, wheelchairs, housing and home repairs, furniture and dental work. In early october more than 600 non-profit social service agencies in south florida were contacted to nominate clients for the wish book program. Specifically, wish book candidates are clients for whom the agencies have already expended available funding, but whose needs go beyond the agency's resources. The nominees are screened by the wish book team and the miami herald reporters work diligently to profile as many cases as possible every holiday season, running from thanksgiving day through the first week of the new year. Curently plans are underway for another successful season.

Financial Statement Notes

Schedule D, Page 3, Part X

The organization adopted the recognition requirements for uncertain income tax positions as required by generally accepted accounting principles. Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by taxing authorities. The organization has analyzed tax positions taken for filing with the internal revenue service and all state jurisdictions where it operates. The organization believes that income tax filing positions will be sustained upon examination. Accordingly, the organization has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at september 30, 2021.

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IRS990/ProgSrvcAccomActy2Grp/Desc0SILVER KNIGHT AWARDS: THE ORGANIZATION ALSO SPONSORS THE SILVER KNIGHT AWARDS, WHICH HONOR OUSTANDING SCHOLASTIC ACCHIEVEMENT AND COMMUNITY SERVICE OF HIGH SCHOOL STUDENTS IN MIAMI-DADE AND BROWARD COUNTIES.
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVESTMENT - HELD AT MIAMI FOUND.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION ADOPTED THE RECOGNITION REQUIREMENTS FOR UNCERTAIN INCOME TAX POSITIONS AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. INCOME TAX BENEFITS ARE RECOGNIZED FOR INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, ONLY WHEN IT IS DETERMINED THAT THE INCOME TAX POSITION WILL MORE-LIKELY-THAN-NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE ORGANIZATION HAS ANALYZED TAX POSITIONS TAKEN FOR FILING WITH THE INTERNAL REVENUE SERVICE AND ALL STATE JURISDICTIONS WHERE IT OPERATES. THE ORGANIZATION BELIEVES THAT INCOME TAX FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION. ACCORDINGLY, THE ORGANIZATION HAS NOT RECORDED ANY RESERVES, OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN INCOME TAX POSITIONS AT SEPTEMBER 30, 2021.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0ELECTRONICS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1FURNITURE
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt2GIFT CARDS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt3HOUSING
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt4MEDICAL SERVICES
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt5OTHER WISHES GRANTED
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt6SILVER KNIGHTS GRANTS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt7MEDICAL EQUIPMENT
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0GIFT CARDS ARE PURCHASED EVERY YEAR TO MEET SOME WISHES/NEEDS. THE GIFT CARDS ARE GIVEN TO THE AGENCY WORKING WITH THE NOMINEES CHOSEN. A LETTER IS PROVIDED WITH INSTRUCTIONS TO THE AGENCY ON THE USE OF THE GIFT CARDS PROVIDED TO FULFILL THE WISHES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 4, PART IV
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0HOLIDAY WISHBOOK PROGRAM: THE ORGANIZATION OPERATES UNDER THE HOLIDAY WISHBOOK PROGRAM, WHEREBY READERS OF THE MIAMI HERALD AND EL NUEVO HERALD ARE SOLICITED TO DONATE FUNDS FOR THE BENEFIT OF THE NEEDY INDIVIDUALS WHO ARE PROFILED IN THE NEWSPAPERS. THE HERALD CHARITIES, INC. PROFILES NEEDY PEOPLE IN THE MIAMI HERALD MEDIA COMPANY'S NEWSPAPER DURING THE THANKSGIVING AND CHRISTMAS HOLIDAYS. SINCE ITS FOUNDING MORE THAN 100 YEARS AGO, THE MIAMI HERALD HAS CHAMPIONED THE NEEDS OF THE LESS FORTUNATE IN THE SOUTH FLORIDA COMMUNITY. IN 1952, THE MIAMI HERALD LEND-A-HAND FUND WAS INCORPORATED TO FORMALIZE THESE EFFORTS. IN DECEMBER 1982, THE MIAMI HERALD PUBLISHED ITS FIRST WISH BOOK IN AN EFFORT TO SPOTLIGHT NEEDY INDIVIDUALS IN SOUTH FLORIDA. THE MIAMI HERALD CHARITIES WAS OFFICIALLY FOUNDED IN 1995 TO OFFER READERS AN OPPORTUNITY TO MAKE A DIFFERENCE IN A NEIGHBOR'S LIFE. SINCE THEN, THE MIAMI HERALD READERS, TOGETHER WITH SPANISH-LANGUAGE READERS OF EL NUEVO HERALD, HAVE CONTRIBUTED SEVERAL MILLION DOLLARS TO ASSIST SOME OF THE NEEDIEST PEOPLE IN OUR COMMUNITY. WISHES RANGED FROM FOOD, CLOTHING, AND TOYS FOR THE HOLIDAYS TO MORE DESPERATELY NEEDED ITEMS SUCH AS MEDICAL SERVICES, WHEELCHAIRS, HOUSING AND HOME REPAIRS, FURNITURE AND DENTAL WORK. IN EARLY OCTOBER MORE THAN 600 NON-PROFIT SOCIAL SERVICE AGENCIES IN SOUTH FLORIDA WERE CONTACTED TO NOMINATE CLIENTS FOR THE WISH BOOK PROGRAM. SPECIFICALLY, WISH BOOK CANDIDATES ARE CLIENTS FOR WHOM THE AGENCIES HAVE ALREADY EXPENDED AVAILABLE FUNDING, BUT WHOSE NEEDS GO BEYOND THE AGENCY'S RESOURCES. THE NOMINEES ARE SCREENED BY THE WISH BOOK TEAM AND THE MIAMI HERALD REPORTERS WORK DILIGENTLY TO PROFILE AS MANY CASES AS POSSIBLE EVERY HOLIDAY SEASON, RUNNING FROM THANKSGIVING DAY THROUGH THE FIRST WEEK OF THE NEW YEAR. CURENTLY PLANS ARE UNDERWAY FOR ANOTHER SUCCESSFUL SEASON.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY THE MIAMI HERALD'S FINANCE DEPARTMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4A
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ReturnHeader/BuildTS02022-09-23 18:48:47Z

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.$2.26$0.03$2.23$0.40$0.59$0.18
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.07$0.02$2.05$0.51$0.60$0.09
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.14$0.17$1.97$0.48$0.64$0.16
2021Detailed filing. Detailed filing data is available for this year.$2.42$0.05$2.37$0.72$0.51$0.21
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.10$0.07$2.03$0.49$0.46$0.02
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.00$0.02$1.98$0.47$0.52$0.04
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.01$0.02$1.98$2.10$0.45$1.65
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.39$0.05$0.34$0.54$0.60$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.41$0.02$0.39$0.49$0.48$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.41$0.03$0.38$0.57$0.58$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.43$0.04$0.39$0.54$0.40$0.14
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.36$0.11$0.25$0.49