Civic Intelligence

Transforming Education Inc.

990 • Fiscal year 2019 • EIN 81-1304128

Jul 01, 2018 to Jun 30, 2019 • Filed on Jan 28, 2020

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

67th percentile

0.22x

Higher debt load relative to assets than 67% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

49th percentile

0.08x

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

65th percentile

10.0%

Higher net margin than 65% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

83rd percentile

$147,994

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 8.3% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

86th percentile

32%

Faster asset growth than 86% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

85th percentile

42%

Faster revenue growth than 85% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$659,719

Up $161,122 (+32%) from 2018

Net Assets

Up

$515,449

Up $176,666 (+52%) from 2018

Liabilities

Down

$144,270

Down $15,544 (-9.7%) from 2018

Revenue

Up

$1,774,360

Up $520,810 (+42%) from 2018

Expenses

Down

$1,597,694

Down $131,315 (-7.6%) from 2018

Net Income

Up

$176,666

Up $652,125 (+137%) from 2018

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

2019

Assets$659,719
Liabilities$144,270
Net Assets$515,449

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

2019

Revenue$1,774,360
Expenses$1,597,694
Net Income$176,666
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jan 28, 2020
Return Version
2018v3.1
Gross Receipts
$1,774,360
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$80,571$461,614▲ $381,043
Cash and Non-Interest-Bearing Accounts$358,698$160,204▼ $198,494
Prepaid Expenses and Deferred Charges$53,695$6,736▼ $46,959
Land, Buildings, and Equipment, Net$5,633$4,333▼ $1,300
Total Assets$498,597$659,719▲ $161,122
Other Assets Total$0$26,832▲ $26,832
Liabilities
Deferred Revenue$148,655$73,310▼ $75,345
Accounts Payable and Accrued Expenses$11,159$70,960▲ $59,801
Total Liabilities$159,814$144,270▼ $15,544
Net Assets / Fund Balance
Unrestricted Net Assets$338,783$515,449▲ $176,666
Total Net Assets Fund Balance$338,783$515,449▲ $176,666
Total Liabilities and Net Assets / Fund Balance$498,597$659,719▲ $161,122

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,333$2,167$6,500
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sara KrachmanPresident & E.d.FT$125,310$22,684$147,994
Cori StottClerk, Treasurer,md Strategy & OpsFT$94,551$23,255$117,806

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$407,708
Program Service Revenue
$1,366,652
Investment Income
$0
Other Revenue
$0
All Other Contributions
$407,708
Change in Net Assets
$176,666

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,774,360
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,774,360
Total Revenue per Form 990
$1,774,360
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,102,419
Other Expenses$495,275
Total Fundraising Expense$65,619
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$603,538$16,065$15,075$634,678
Current Officers, Directors, Trustees, and Key Employees$214,063$36,659$36,659$287,381
Fees for Services Other$161,986$2,909$1,820$166,715
Occupancy$140,883$6,125$5,511$152,519
Other Employee Benefits$96,097$4,628$1,834$102,559
Payroll Taxes$69,561$4,164$4,076$77,801
Conferences and Meetings$54,988$6,653-$61,641
Fees for Services Accounting-$28,150-$28,150
Office Expenses$12,760$5,662$358$18,780
Fees for Services Legal-$10,845-$10,845
Insurance$4,958$264$194$5,416
Other Expenses$1,189$65$46$1,300
Depreciation Depletion$1,189$65$46$1,300
Total Functional Expenses$1,403,921$128,154$65,619$1,597,694

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,597,694
Total Expenses per Audited Statements$1,597,694
Total Expenses per Form 990$1,597,694
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
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 are available upon request.

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
2020-01-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sara Krachman
Formed
2016
Legal Domicile
Ma
Voting Board Members
7
Independent Board Members
6
Employees
12
Volunteers
6

Preparer

Firm
Aafcpas Inc
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 161,986. Management and general expenses 2,909. Fundraising expenses 1,820. Total expenses 166,715.

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, 2019.

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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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IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0510270
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0182821
IRS990/PYRevenuesLessExpensesAmt0-475459
IRS990/PYSalariesCompEmpBnftPaidAmt01218739
IRS990/PYTotalExpensesAmt01729009
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01253550
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0176666
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01351911
IRS990ScheduleA/First5Years170Ind0X
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01070729
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt02023715
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03502152
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt02023715
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03502152
IRS990ScheduleA/TotalSupportAmt03502152
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt02167
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt06500
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01597694
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01774360
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, 2019.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalExpensesPerForm990Amt01597694
IRS990ScheduleD/TotalRevenuePerForm990Amt01774360
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01774360
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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 ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 161,986. MANAGEMENT AND GENERAL EXPENSES 2,909. FUNDRAISING EXPENSES 1,820. TOTAL EXPENSES 166,715.
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:
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IRS990/SubjectToProxyTaxInd00
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IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01403921
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt0144270
IRS990/TotalLiabilitiesGrp/BOYAmt0159814
IRS990/TotalLiabilitiesGrp/EOYAmt0144270
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0338783
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0515449
IRS990/TotalOtherCompensationAmt045939
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IRS990/TotalProgramServiceRevenueAmt01366652
IRS990/TotalReportableCompFromOrgAmt0219861
IRS990/TotalRevenueGrp/ExclusionAmt00
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt06
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IRS990/TotReportableCompRltdOrgAmt00
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IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/UnrestrictedNetAssetsGrp/EOYAmt0515449
IRS990/UponRequestInd0X
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IRS990/WebsiteAddressTxt0WWW.TRANSFORMINGEDUCATION.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SARA KRACHMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR & PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06174539750
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-01-28
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt040.70.31.102
ReturnHeader/FilingSecurityInformation/IPDt02020-01-28
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES

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