Civic Intelligence

Ti-Hwa Foundation

990 • Fiscal year 2017 • EIN 82-1197136

Jan 01, 2017 to Dec 31, 2017 • Filed on Jul 11, 2018

801 Pennsylvania Ave NW Suite 1024Washington, DC 20004

(202) 438-4772

Siviq Scores

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

Liabilities / Assets

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

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

Liabilities / Revenue

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

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

Net Margin

98th percentile

94%

Higher net margin than 98% of similar nonprofits.

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

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% 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

$938,430

No earlier filing loaded for comparison.

Net Assets

$938,430

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue

$1,000,236

No earlier filing loaded for comparison.

Expenses

$61,806

No earlier filing loaded for comparison.

Net Income

$938,430

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.

$3.0M$2.0M$1.0M$0Assets 2017: $938,430Liabilities 2017: $0Net Assets 2017: $938,4302017Assets 2018: $958,164Liabilities 2018: $9,444Net Assets 2018: $948,7202018Assets 2019: $2,050,305Liabilities 2019: $1,087,310Net Assets 2019: $962,9952019Assets 2020: $2,001,921Liabilities 2020: $1,068,546Net Assets 2020: $933,3752020Assets 2021: $2,008,024Liabilities 2021: $1,056,338Net Assets 2021: $951,6862021Assets 2022: $1,895,428Liabilities 2022: $1,006,735Net Assets 2022: $888,6932022Assets 2023: $1,816,082Liabilities 2023: $1,035,396Net Assets 2023: $780,6862023Assets 2024: $1,772,729Liabilities 2024: $992,315Net Assets 2024: $780,4142024

Highlighted filing

2017

Assets$938,430
Liabilities$0
Net Assets$938,430

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2017: $1,000,236Expenses 2017: $61,806Net Income 2017: $938,4302017Revenue 2018: $104,112Expenses 2018: $93,822Net Income 2018: $10,2902018Revenue 2019: $211,854Expenses 2019: $237,579Net Income 2019: -$25,7252019Revenue 2020: $288,508Expenses 2020: $326,482Net Income 2020: -$37,9742020Revenue 2021: $286,407Expenses 2021: $313,544Net Income 2021: -$27,1372021Revenue 2022: $281,653Expenses 2022: $349,670Net Income 2022: -$68,0172022Revenue 2023: $308,771Expenses 2023: $439,612Net Income 2023: -$130,8412023Revenue 2024: $307,643Expenses 2024: $396,117Net Income 2024: -$88,4742024

Highlighted filing

2017

Revenue$1,000,236
Expenses$61,806
Net Income$938,430
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Jul 11, 2018
Return Version
2017v2.3
Gross Receipts
$1,000,236
Mission and Program Overview

Mission

Ti-hwa foundation is a not-for-profit corporation formed to provide affordable housing to those that need it most. The corporation receives housing assistance payments from the u.s. Department of housing and urban development (hud) pursuant to section 8 of the national housing act, as amended.

Ti hwa foundation is a not-for-profit corporation formed to provide affordable housing to those that need it most. The corporation receives housing assistance payments from the u.s. Department of housing and urban development (hud) pursuant to section 8 of the national housing act, as amended.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$0$938,430▲ $938,430
Land, Buildings, and Equipment, Net$0$507,632▲ $507,632
Cash and Non-Interest-Bearing Accounts-$430,798-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$0$938,430▲ $938,430
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$938,430▲ $938,430
Total Liabilities and Net Assets / Fund Balance$0$938,430▲ $938,430

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$436,521$303$436,824
Land$71,111-$71,111
Compensation and Service Providers

Board Members and Trustees

NameTitle
Yeni WongPresident/director
Daniel ChangDirector
Yueh Tsun ChenDirector
Curt HansenSecretary
Jenny HoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,000,000
Program Service Revenue
$0
Investment Income
$236
Other Revenue
$0
All Other Contributions
$1,000,000
Change in Net Assets
$938,430

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,000,236
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,000,236
Total Revenue per Form 990
$1,000,236
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$61,806
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
Fees for Services Other$40,000--$40,000
Fees for Services Legal-$11,000-$11,000
Office Expenses-$10,503-$10,503
Depreciation Depletion$303--$303
Total Functional Expenses$40,303$21,503$0$61,806

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$61,806
Total Expenses per Audited Statements$61,806
Total Expenses per Form 990$61,806
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
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, Part VI, Section B, Line 11B

The auditing firm sends a draft of the return to the management company who forwards a copy of the return to each board member for their comments prior to filing.

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

Each officer and director is required to annually disclose interests that could give rise to conflicts at a board meeting. If an item of conflict comes to surface, the board discusses and votes on it before awarding any contracts.

Form 990, Part VI, Section C, Line 19

The form 990 and all related financial and policy information are made available to the public upon written request.

Filing and Contact Details

Filer

Filer Name
Ti-hwa Foundation
EIN
82-1197136
Phone
2024384772
Address
801 PENNSYLVANIA AVE NW SUITE 1024, WASHINGTON, DC 20004

Signing Officer

Name
Yeni W Wong
Title
President
Phone
2024384772
Signed
2018-07-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Yeni W Wong
Formed
2017
Legal Domicile
Dc
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Novogradac & Company Llp
Address
12 POST OFFICE SQUARE 4TH FLOOR, BOSTON, MA 02109
Preparer
Charles a Rhuda Iii
Phone
6173301920
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Development fee: program service expenses 40,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 40,000.

Financial Statement Notes

PART X, LINE 2:

The preparation of financial statements in conformity with accounting principles generally accepted in the united states of america requires the corporation to report information regarding its exposure to various tax positions taken by the corporation. The corporation has determined whether any tax positions have met the recognition threshold and has measured the corporation's exposure to those tax positions. Management believes that the corporation has adequately addressed all relevant tax positions and that there are no unrecorded tax liabilities. Federal and state tax authorities generally have the right to examine and audit the previous three years of tax returns filed. Any interest or penalties assessed to the corporation are recorded in operating expenses. No interest or penalties from federal or state tax authorities were recorded in the accompanying financial statements.

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE PREPARATION OF FINANCIAL STATEMENTS IN CONFORMITY WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES THE CORPORATION TO REPORT INFORMATION REGARDING ITS EXPOSURE TO VARIOUS TAX POSITIONS TAKEN BY THE CORPORATION. THE CORPORATION HAS DETERMINED WHETHER ANY TAX POSITIONS HAVE MET THE RECOGNITION THRESHOLD AND HAS MEASURED THE CORPORATION'S EXPOSURE TO THOSE TAX POSITIONS. MANAGEMENT BELIEVES THAT THE CORPORATION HAS ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THAT THERE ARE NO UNRECORDED TAX LIABILITIES. FEDERAL AND STATE TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE AND AUDIT THE PREVIOUS THREE YEARS OF TAX RETURNS FILED. ANY INTEREST OR PENALTIES ASSESSED TO THE CORPORATION ARE RECORDED IN OPERATING EXPENSES. NO INTEREST OR PENALTIES FROM FEDERAL OR STATE TAX AUTHORITIES WERE RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH OFFICER AND DIRECTOR IS REQUIRED TO ANNUALLY DISCLOSE INTERESTS THAT COULD GIVE RISE TO CONFLICTS AT A BOARD MEETING. IF AN ITEM OF CONFLICT COMES TO SURFACE, THE BOARD DISCUSSES AND VOTES ON IT BEFORE AWARDING ANY CONTRACTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 AND ALL RELATED FINANCIAL AND POLICY INFORMATION ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DEVELOPMENT FEE: PROGRAM SERVICE EXPENSES 40,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 40,000.
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IRS990/TotReportableCompRltdOrgAmt00
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ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02024384772
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-07-11
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ReturnHeader/Filer/BusinessNameControlTxt0TI-H
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId02952B74B8A6F42BAD370812FA17EF406F82A6A59
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
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ReturnHeader/FilingSecurityInformation/IPDt02018-07-11
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm015:38:54
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0943108253
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0NOVOGRADAC & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt012 POST OFFICE SQUARE 4TH FLOOR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BOSTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
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ReturnHeader/PreparerPersonGrp/PhoneNum06173301920
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHARLES A RHUDA III
ReturnHeader/ReturnTs02018-07-11T14:44:24-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-04-17
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

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