Civic Intelligence

Transforming Education Inc.

990 • Fiscal year 2017 • EIN 81-1304128

Jul 01, 2016 to Jun 30, 2017 • Filed on Jan 29, 2018

115 Broad Street 4th FloorBoston, MA 02110

(617) 453-9750

Siviq Scores

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

Liabilities / Assets

49th percentile

0.09x

Higher debt load relative to assets than 49% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

32nd percentile

0.03x

Higher debt load relative to revenue than 32% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

87th percentile

37%

Higher net margin than 87% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

54th percentile

$71,551

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 3.3% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Assets

$890,038

No earlier filing loaded for comparison.

Net Assets

$814,242

No earlier filing loaded for comparison.

Liabilities

$75,796

No earlier filing loaded for comparison.

Revenue

$2,197,760

No earlier filing loaded for comparison.

Expenses

$1,383,518

No earlier filing loaded for comparison.

Net Income

$814,242

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2017: $890,038Liabilities 2017: $75,796Net Assets 2017: $814,2422017Assets 2018: $498,597Liabilities 2018: $159,814Net Assets 2018: $338,7832018Assets 2019: $659,719Liabilities 2019: $144,270Net Assets 2019: $515,4492019Assets 2020: $1,163,376Liabilities 2020: $252,205Net Assets 2020: $911,1712020Assets 2021: $1,857,451Liabilities 2021: $345,599Net Assets 2021: $1,511,8522021Assets 2022: $1,484,487Liabilities 2022: $74,050Net Assets 2022: $1,410,4372022Assets 2023: $138,718Liabilities 2023: $32,864Net Assets 2023: $105,8542023Assets 2024: $73,351Liabilities 2024: $795Net Assets 2024: $72,5562024

Highlighted filing

2017

Assets$890,038
Liabilities$75,796
Net Assets$814,242

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2017: $2,197,760Expenses 2017: $1,383,518Net Income 2017: $814,2422017Revenue 2018: $1,253,550Expenses 2018: $1,729,009Net Income 2018: -$475,4592018Revenue 2019: $1,774,360Expenses 2019: $1,597,694Net Income 2019: $176,6662019Revenue 2020: $1,990,902Expenses 2020: $1,595,180Net Income 2020: $395,7222020Revenue 2021: $2,021,319Expenses 2021: $1,420,638Net Income 2021: $600,6812021Revenue 2022: $1,470,841Expenses 2022: $1,572,256Net Income 2022: -$101,4152022Revenue 2023: $49,525Expenses 2023: $1,354,108Net Income 2023: -$1,304,5832023Revenue 2024: $0Expenses 2024: $33,298Net Income 2024: -$33,2982024

Highlighted filing

2017

Revenue$2,197,760
Expenses$1,383,518
Net Income$814,242
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Jan 29, 2018
Return Version
2016v3.0
Gross Receipts
$2,197,760
Mission and Program Overview

Mission

Transforming education partners with school systems to support educators in fostering the development of the whole child so that all students, particularly those from underserved populations, can thrive.

Transforming education supports educators and education systems in equipping students with the mindsets, essential skills, and habits (mesh) they need to succeed in college, career, and life.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$864,665-
Accounts Receivable-$21,011-
Prepaid Expenses and Deferred Charges-$4,362-
Total Assets$0$890,038▲ $890,038
Liabilities
Deferred Revenue-$62,983-
Accounts Payable and Accrued Expenses-$12,813-
Total Liabilities$0$75,796▲ $75,796
Net Assets / Fund Balance
Unrestricted Net Assets-$558,668-
Temporarily Rstr Net Assets-$255,574-
Total Net Assets Fund Balance$0$814,242▲ $814,242
Total Liabilities and Net Assets / Fund Balance$0$890,038▲ $890,038
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sara KrachmanPresident & Executive DirectorFT$57,265$14,286$71,551
Cori StottClerk, Treasurer, COSFT$34,316$5,043$39,359

Board Members and Trustees

NameTitle
Shannah VaronChair
Andrew SokatchDirector
Barry DymDirector
Ila Deshmukh ToweryDirector
Irvin ScottDirector
Joe MccannonDirector
Nathaniel DonoghueAssistant Clerk
Revenue and Support

Revenue Composition

Contributions and Grants
$2,023,715
Program Service Revenue
$174,045
Investment Income
$0
Other Revenue
$0
All Other Contributions
$2,023,715
Change in Net Assets
$814,242

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,197,760
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$11,603
Total Revenue per Audited Statements
$2,209,363
Total Revenue per Form 990
$2,197,760
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$983,498
Other Expenses$392,730
Total Fundraising Expense$23,929
Professional Fundraising Fees$7,290
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$511,201$39,767$929$551,897
Current Officers, Directors, Trustees, and Key Employees$134,194$110,933$7,582$252,709
Other Employee Benefits$147,118$31,190$584$178,892
Fees for Services Other$135,859$17,908-$153,767
Occupancy$77,946$16,160$950$95,056
Travel$45,876$102$18$45,996
Office Expenses$12,868$13,927$6,563$33,358
Fees for Services Accounting-$32,415-$32,415
Fees for Services Legal$9,195$3,763-$12,958
Conferences and Meetings$9,216$3,265$13$12,494
Fees for Services Professional Fundraising--$7,290$7,290
Insurance-$2,527-$2,527
Other Expenses$342$150-$492
Total Functional Expenses$1,087,080$272,509$23,929$1,383,518

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,395,121
Expenses per Audited Statements$1,383,518
Total Expenses per Form 990$1,383,518
Expenses Not Reported on Form 990$11,603
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$7,290
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
Yes
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

Governance Explanations

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

The board of directors will individually review the form 990 and then will take part in a meeting with the audit team to review it as a group. The board of directors will vote to accept the form 990 following the audit team meeting and review.

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

All staff and members of the board of directors are required to review the conflict of interest policy and to provide updates at least annually.

Form 990, Part VI, Section B, Line 15

The board of directors reviews the executive director's salary annually, to ensure that it is competitive and in line with compensation for similar roles at similar organizations in the boston area. The executive director reviews employees' salaries annually, to ensure that they are competitive, in line with similar roles at similar organizations, and that they have been adjusted for any changes in the employees' levels of responsibility. The board of directors approves salaries annually.

Form 990, Part VI, Section C, Line 19

The governing documents of transforming education have been filed with the state of massachusetts, where they can be accessed by members of the public through a search.

Filing and Contact Details

Filer

Filer Name
Transforming Education Inc
EIN
81-1304128
Phone
6174539750
Address
115 BROAD STREET 4TH FLOOR, BOSTON, MA 02110

Signing Officer

Name
Sara Krachman
Title
Executive Director & President
Phone
6174539750
Signed
2018-01-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sara Krachman
Formed
2016
Legal Domicile
Ma
Voting Board Members
8
Independent Board Members
7
Employees
12
Volunteers
7

Preparer

Firm
Alexander Aronson Finning & Co Pc
Address
50 WASHINGTON STREET, WESTBOROUGH, MA 01581
Preparer
Sorie Kaba CPA
Phone
5083669100
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Other professional fees: program service expenses 135,859. Management and general expenses 17,908. Fundraising expenses 0. Total expenses 153,767.

FORM 990, PART XII, LINE 2C:

The board of directors will individually review the form 990 then will take part in a meeting with the audit team to review it as a group. The board of directors will vote to accept the form 990 following the audit team meeting and review.

Financial Statement Notes

PART X, LINE 2:

Transforming education accounts for uncertainty in income taxes in accordance with asc topic, income taxes. This standard clarifies the accounting for uncertainty in tax positions and prescribes a recognition threshold and measurement attribute for the financial statements regarding a tax position taken or expected to be taken in a tax return. Transforming education has determined that there are no uncertain tax positions which qualify for either recognition or disclosure in the financial statements at june 30, 2017.

Raw XML Appendix393 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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IRS990ScheduleA/SubstantialContributorsTotAmt0632035
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt02023715
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02023715
IRS990ScheduleA/TotalSupportAmt02023715
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt011603
IRS990ScheduleD/DonatedServicesUseFcltsAmt011603
IRS990ScheduleD/ExpensesNotReportedAmt011603
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01383518
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt011603
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02197760
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TRANSFORMING EDUCATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. TRANSFORMING EDUCATION HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AT JUNE 30, 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt01383518
IRS990ScheduleD/TotalRevenuePerForm990Amt02197760
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02209363
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01395121
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS WILL INDIVIDUALLY REVIEW THE FORM 990 AND THEN WILL TAKE PART IN A MEETING WITH THE AUDIT TEAM TO REVIEW IT AS A GROUP. THE BOARD OF DIRECTORS WILL VOTE TO ACCEPT THE FORM 990 FOLLOWING THE AUDIT TEAM MEETING AND REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL STAFF AND MEMBERS OF THE BOARD OF DIRECTORS ARE REQUIRED TO REVIEW THE CONFLICT OF INTEREST POLICY AND TO PROVIDE UPDATES AT LEAST ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS REVIEWS THE EXECUTIVE DIRECTOR'S SALARY ANNUALLY, TO ENSURE THAT IT IS COMPETITIVE AND IN LINE WITH COMPENSATION FOR SIMILAR ROLES AT SIMILAR ORGANIZATIONS IN THE BOSTON AREA. THE EXECUTIVE DIRECTOR REVIEWS EMPLOYEES' SALARIES ANNUALLY, TO ENSURE THAT THEY ARE COMPETITIVE, IN LINE WITH SIMILAR ROLES AT SIMILAR ORGANIZATIONS, AND THAT THEY HAVE BEEN ADJUSTED FOR ANY CHANGES IN THE EMPLOYEES' LEVELS OF RESPONSIBILITY. THE BOARD OF DIRECTORS APPROVES SALARIES ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING DOCUMENTS OF TRANSFORMING EDUCATION HAVE BEEN FILED WITH THE STATE OF MASSACHUSETTS, WHERE THEY CAN BE ACCESSED BY MEMBERS OF THE PUBLIC THROUGH A SEARCH.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 135,859. MANAGEMENT AND GENERAL EXPENSES 17,908. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 153,767.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS WILL INDIVIDUALLY REVIEW THE FORM 990 THEN WILL TAKE PART IN A MEETING WITH THE AUDIT TEAM TO REVIEW IT AS A GROUP. THE BOARD OF DIRECTORS WILL VOTE TO ACCEPT THE FORM 990 FOLLOWING THE AUDIT TEAM MEETING AND REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0255574
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt0890038
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt0890038
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt02023715
IRS990/TotalEmployeeCnt012
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt023929
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0272509
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01087080
IRS990/TotalFunctionalExpensesGrp/TotalAmt01383518
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt075796
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt075796
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0814242
IRS990/TotalOtherCompensationAmt019329
IRS990/TotalOtherProgSrvcExpenseAmt0124919
IRS990/TotalOtherProgSrvcRevenueAmt020000
IRS990/TotalProgramServiceExpensesAmt01087080
IRS990/TotalProgramServiceRevenueAmt0174045
IRS990/TotalReportableCompFromOrgAmt091581
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0174045
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02197760
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0890038
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt018
IRS990/TravelGrp/ManagementAndGeneralAmt0102
IRS990/TravelGrp/ProgramServicesAmt045876
IRS990/TravelGrp/TotalAmt045996
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0558668
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0115 BROAD STREET 4TH FLOOR
IRS990/USAddress/CityNm0BOSTON
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002110
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.TRANSFORMINGEDUCATION.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SARA KRACHMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR & PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06174539750
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-01-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TRANSFORMING EDUCATION INC
ReturnHeader/Filer/BusinessNameControlTxt0TRAN
ReturnHeader/Filer/EIN0811304128
ReturnHeader/Filer/PhoneNum06174539750
ReturnHeader/Filer/USAddress/AddressLine1Txt0115 BROAD STREET 4TH FLOOR
ReturnHeader/Filer/USAddress/CityNm0BOSTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd002110
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0C3B1CA5E9EDD1B55B0F6E2DA0EC022650C85F82C
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0DF907C3E490E2DE39094117C62C17E9C055F2C1A
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt064.238.141.162
ReturnHeader/FilingSecurityInformation/IPDt02018-01-29
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm015:02:38
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042571780
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ALEXANDER ARONSON FINNING & CO PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt050 WASHINGTON STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WESTBOROUGH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001581
ReturnHeader/PreparerPersonGrp/PhoneNum05083669100
ReturnHeader/PreparerPersonGrp/PreparationDt02018-01-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SORIE KABA CPA
ReturnHeader/ReturnTs02018-02-21T09:40:04-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

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