Civic Intelligence

Yi Hwang Academy Incorporated

990 • Fiscal year 2024 • EIN 81-4597536

Jul 01, 2023 to Jun 30, 2024 • Filed on Aug 30, 2024

Organization ProfileYHALE.ORG
4550 River Green ParkwayDuluth, GA 30096

(404) 623-0003

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.90x

Higher debt load relative to assets than 92% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

84th percentile

0.98x

Higher debt load relative to revenue than 84% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

17th percentile

-13%

Higher net margin than 17% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

42nd percentile

$110,000

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

86th percentile

32%

Faster asset growth than 86% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

70th percentile

23%

Faster revenue growth than 70% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Up

$5,949,155

Up $1,428,713 (+32%) from 2023

Net Assets

Down

$565,395

Down $703,489 (-55%) from 2023

Liabilities

Up

$5,383,760

Up $2,132,202 (+66%) from 2023

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin17th percentile

Revenue

Up

$5,519,183

Up $1,017,610 (+23%) from 2023

Expenses

Up

$6,222,672

Up $2,217,178 (+55%) from 2023

Net Income

Down

-$703,489

Down $1,199,568 (-242%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth86th percentile

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

$15M$10M$5.0M$0Assets 2020: $522,485Liabilities 2020: $151,859Net Assets 2020: $370,6262020Assets 2022: $1,043,742Liabilities 2022: $163,806Net Assets 2022: $879,9362022Assets 2023: $4,520,442Liabilities 2023: $3,251,558Net Assets 2023: $1,268,8842023Assets 2024: $5,949,155Liabilities 2024: $5,383,760Net Assets 2024: $565,3952024Assets 2025: $12,964,833Liabilities 2025: $12,839,711Net Assets 2025: $125,1222025

Highlighted filing

2024

Assets$5,949,155
Liabilities$5,383,760
Net Assets$565,395
Open 2024 Filing

Operations Trend

Revenue Growth70th percentile

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

$10M$5.0M$0-$5.0MRevenue 2020: $1,691,671Expenses 2020: $1,323,922Net Income 2020: $367,7492020Revenue 2022: $1,854,176Expenses 2022: $1,218,949Net Income 2022: $635,2272022Revenue 2023: $4,501,573Expenses 2023: $4,005,494Net Income 2023: $496,0792023Revenue 2024: $5,519,183Expenses 2024: $6,222,672Net Income 2024: -$703,4892024Revenue 2025: $7,174,350Expenses 2025: $7,614,623Net Income 2025: -$440,2732025

Highlighted filing

2024

Revenue$5,519,183
Expenses$6,222,672
Net Income-$703,489
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Aug 30, 2024
Return Version
2023v5.1
Gross Receipts
$5,519,183
Mission and Program Overview

Mission

A charter school servicing students in the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,545,743$1,884,370▲ $338,627
Land, Buildings, and Equipment, Net$1,023,795$802,192▼ $221,603
Accounts Receivable$73,519$115,889▲ $42,370
Total Assets$4,520,442$5,949,155▲ $1,428,713
Other Assets Total$1,877,385$3,146,704▲ $1,269,319
Liabilities
Other Liabilities$3,180,518$5,101,386▲ $1,920,868
Accounts Payable and Accrued Expenses$71,040$282,374▲ $211,334
Total Liabilities$3,251,558$5,383,760▲ $2,132,202
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,268,884$565,395▼ $703,489
Total Net Assets Fund Balance$1,268,884$565,395▼ $703,489
Total Liabilities and Net Assets / Fund Balance$4,520,442$5,949,155▲ $1,428,713

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$739,101$739,101-
Equipment$63,091$47,713-
Other Assets Org$3,063,346--
Compensation and Service Providers
Top Officer Pay42nd percentile

Employees

NameTitleBaseTotal
Chih Wei ChungPrincipal$110,000$110,000

Board Members and Trustees

NameTitle
Liza a ParkBoard Chair
Emile HamanBoard Member
Tamecha BuckBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$282,615
Program Service Revenue
$5,208,018
Investment Income
$0
Other Revenue
$28,550
Change in Net Assets
$-703,489

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,519,183
Total Revenue per Audited Statements
$5,519,183
Total Revenue per Form 990
$5,519,183
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,222,672
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
All Other Expenses$1,172,982$2,767-$1,175,749
Other Expenses$2,441$902,376-$902,376
Interest$32,691--$32,691
Total Functional Expenses$5,317,529$905,143$0$6,222,672

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,222,672
Total Expenses per Audited Statements$6,222,672
Total Expenses per Form 990$6,222,672
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
Net Pension Liability$4,043,647
Lease Liabilities Due Within One Ye$629,565
Lease Liabilities$274,455
Other Current Liabilites$137,000
Related to Defined Benefit Pension$16,719
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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 governing body review Part VI line 11

“A copy of the 990 is given to the board of directors before it is filed.”

Conflict of interest policy compliance Part VI line 12C

“Written and signed conflict letters are obtained annually from officers, directors and keyemployees.”

Governing documents etc available to public Part VI line 19

“Documents are available at the administrative offices of the school.”

Filing and Contact Details

Filer

Filer Name
Yi Hwang Academy Inc
EIN
81-4597536
Address
4550 RIVER GREEN PARKWAY, DULUTH, GA 30096

Signing Officer

Name
Liza a Park
Title
Board Chair
Phone
4046230003
Signed
2024-08-30
Discuss with paid preparer
Yes

Organization Details

Formed
2016
Legal Domicile
Ga
Voting Board Members
5
Independent Board Members
5
Employees
56

Preparer

Firm
Bambo Sonaike CPA LLC
Address
707 WHITLOCK AVE SUITE B-21, Marietta, GA 30064
Preparer
Adebambo Sonaike CPA
Phone
7709566455
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“Adjustments to reconcile net assets”

List of other expenses Part IX line 24E

“These are the school operating expenses”

Raw XML Appendix361 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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IRS990/WebsiteAddressTxt0HTTPS://YHALE.ORG/
IRS990/WhistleblowerPolicyInd0false
IRS990/WrittenPolicyOrProcedureInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LIZA A PARK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum04046230003
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-08-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0YI HWANG ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0YIHW
ReturnHeader/Filer/EIN0814597536
ReturnHeader/Filer/USAddress/AddressLine1Txt04550 RIVER GREEN PARKWAY
ReturnHeader/Filer/USAddress/CityNm0DULUTH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0GA
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0900226617
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BAMBO SONAIKE CPA LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0707 WHITLOCK AVE SUITE B-21
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Marietta
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd030064
ReturnHeader/PreparerPersonGrp/PhoneNum07709566455
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ADEBAMBO SONAIKE CPA
ReturnHeader/ReturnTs02024-11-11T14:41:15-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,949,155
Liabilities
$5,383,760
Net assets
$565,395
Revenue
$5,519,183
Expenses
$6,222,672
Net income
-$703,489
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$13.0$12.8$0.13$7.17$7.61$0.44
2024Detailed filing. Detailed filing data is available for this year.$5.95$5.38$0.57$5.52$6.22$0.70
2023Detailed filing. Detailed filing data is available for this year.$4.52$3.25$1.27$4.50$4.01$0.50
2022Detailed filing. Detailed filing data is available for this year.$1.04$0.16$0.88$1.85$1.22$0.64
2020Summary only. Only limited summary data is available for this year.$0.52$0.15$0.37$1.69$1.32$0.37