Civic Intelligence

Almost Fun Inc.

990 • Fiscal year 2020 • EIN 84-2339499

Jan 01, 2020 to Dec 31, 2020 • Filed on May 03, 2021

343 Gold Street Apt 2318Brooklyn, NY 11201

(404) 542-1429

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.02x

Higher debt load relative to assets than 73% of similar nonprofits.

2020 filings • NTEE B • <$500k nonprofits • Source year 2020

Liabilities / Revenue

71st percentile

0.02x

Higher debt load relative to revenue than 71% of similar nonprofits.

2020 filings • NTEE B • <$500k nonprofits • Source year 2020

Net Margin

88th percentile

56%

Higher net margin than 88% of similar nonprofits.

2020 filings • NTEE B • <$500k nonprofits • Source year 2020

Top Officer Pay

97th percentile

$66,250

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 25.6% of source-year revenue.

2020 filings • NTEE B • <$500k nonprofits • Source year 2020

Asset Growth

94th percentile

190%

Faster asset growth than 94% of similar nonprofits.

2020 filings • NTEE B • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

97th percentile

225%

Faster revenue growth than 97% of similar nonprofits.

2020 filings • NTEE B • <$500k nonprofits • Annualized from 2019 to 2020

Assets

Up

$227,282

Up $148,968 (+190%) from 2019

Net Assets

Up

$222,167

Up $143,853 (+184%) from 2019

Liabilities

Up

$5,115

Up $5,115 from 2019

Revenue

Up

$258,677

Up $178,999 (+225%) from 2019

Expenses

Up

$114,824

Up $113,460 (+8318%) from 2019

Net Income

Up

$143,853

Up $65,539 (+84%) from 2019

Historical Trend

Balance Sheet Trend

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

$300K$200K$100K$0Assets 2019: $78,314Liabilities 2019: $0Net Assets 2019: $78,3142019Assets 2020: $227,282Liabilities 2020: $5,115Net Assets 2020: $222,1672020Assets 2021: $226,782Liabilities 2021: $2,558Net Assets 2021: $224,2242021Assets 2022: $229,748Liabilities 2022: $52,777Net Assets 2022: $176,9712022

Highlighted filing

2020

Assets$227,282
Liabilities$5,115
Net Assets$222,167

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2019: $79,678Expenses 2019: $1,364Net Income 2019: $78,3142019Revenue 2020: $258,677Expenses 2020: $114,824Net Income 2020: $143,8532020Revenue 2021: $310,009Expenses 2021: $307,952Net Income 2021: $2,0572021Revenue 2022: $496,879Expenses 2022: $548,064Net Income 2022: -$51,1852022

Highlighted filing

2020

Revenue$258,677
Expenses$114,824
Net Income$143,853
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 3, 2021
Return Version
2020v4.0
Gross Receipts
$258,677
Mission and Program Overview

Mission

Almost Fun's mission is to provide free and culturally relevant test preparation content targeted at low-income students and students of color. We meet students where they are by creating practice questions based on relatable situations and culturally relevant pop culture. Our questions are based on content like scripts from popular movies and TV, young adult novels, and music, with the goal of engaging students with more accessible and relatable content. All of our content is available for free through an iOS app and our website. As students build up skills, we gradually ramp up the difficulty and style to more closely match the SAT. Each question comes with step-by-step, interactive explanations that help students work through the questions clearly. Our goal is to truly democratize access to test prep and support underserved students in their path to a 4-year college.

Almost Fun's mission is to empower low-income and BIPOC (Black, Indigenous, People of Color) K-12 students in their learning through free, culturally-responsive, digital educational resources.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$78,314$222,167▲ $143,853
Rtn Earn Endowment Incm Other Fnds$78,314$222,167▲ $143,853
Other Notes and Loans Receivable, Net$0$5,115▲ $5,115
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0--
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$78,314$227,282▲ $148,968
Other Assets Total$0$0→ $0
Liabilities
Unsecured Notes Loans Payable$0$5,115▲ $5,115
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Other Liabilities$0--
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$5,115▲ $5,115
Net Assets / Fund Balance
Total Net Assets Fund Balance$78,314$222,167▲ $143,853
Total Liabilities and Net Assets / Fund Balance$78,314$227,282▲ $148,968
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Lisa WangCEOFT$66,250$66,250
Ngulunite KossiaChief Academic OfficerFT$31,250$31,250

Board Members and Trustees

NameTitle
Katherine DeanDirector
Shang WangTreasurer, Director
Revenue and Support

Revenue Composition

Contributions and Grants
$258,677
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$246,177
Change in Net Assets
$143,853
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$110,457
Total Fundraising Expense$5,187
Other Expenses$4,367
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$89,525$6,035$5,030$100,590
Other Employee Benefits-$6,721$0$6,721
Payroll Taxes$2,674$315$157$3,146
Fees for Services Other$1,748$0$0$1,748
Information Technology$609$600$0$1,209
Insurance$0$542$0$542
Office Expenses$499$0$0$499
Fees for Services Legal$0$275$0$275
Advertising$94$0$0$94
Total Functional Expenses$95,149$14,488$5,187$114,824
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
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
Yes
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 A, Line 4

Our mission has broadened to include supporting low-income students and students of color in their education outside of test preparation. Today, our mission is to empower low-income students and students of color in their education through culturally-responsive, free, online educational resources that include, but are not limited to, test preparation. In addition, we hired a Chief Academic Officer to lead our educational content creation.

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

A complete copy of the prepared 990 form is provided to each member of the governing body in PDF form over email prior to filing with the IRS.

Form 990, Part VI, Section B, Line 15

For both the CEO and Chief Academic Officer, a board meeting was held in 2020 to determine and approve compensation. Data from similarly sized non-profit, educational technology organizations was used to determine fair and equitable compensation. Review and approval were conducted by the board without the CEO to ensure no conflicts of interest were present.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policy, and financial statements are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Almost Fun Inc
EIN
84-2339499
Phone
4045421429
Address
343 Gold Street Apt 2318, Brooklyn, NY 11201

Signing Officer

Name
Lisa Wang
Title
CEO, CFO
Phone
4045421429
Signed
2021-05-03

Organization Details

Principal Officer
Lisa Wang
Formed
2019
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
2
Volunteers
2
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

In 2020, Almost Fun began building free, supplemental Math lessons to help ensure students had the foundational Math needed for standardized tests such as the SAT. The need for these lessons was clear as a significant percentage of students using Almost Fun's SAT prep struggled with the basic Math necessary to understand many of the problems. To fully address this need, the team began to build out dedicated lessons that students can easily access for help understanding different Math concepts.

Form 990, Part X, Line 7

$5115 corresponds to deferred payroll tax under the CARES act.

Form 990, Part X, Line 24

$5115 corresponds to deferred payroll tax under the CARES act.

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IRS990/Desc0In September, Almost Fun launched 25 free, supplementary Math lessons on our website. By December, these lessons had supported 20,000 students in their Math learning. Students shared that they were able to understand many Math concepts much more easily through these lessons; that for the first time, they felt confident as a Math learner; and they wanted more lessons covering additional areas of Math.
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IRS990/MissionDesc0Almost Fun's mission is to empower low-income and BIPOC (Black, Indigenous, People of Color) K-12 students in their learning through free, culturally-responsive, digital educational resources. On our website and mobile app today, students can access high-quality SAT prep and supplementary Math lessons that use familiar contexts and non-academic analogies to help students build skills effectively.
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IRS990/ProgSrvcAccomActy2Grp/Desc0Almost Fun's SAT prep was used by 15,000 low-income students and students of color to prepare for the SAT in 2020. Through the continuation of a pilot with four high schools at the Thomas Jefferson Educational Campus in East New York, students shared that Almost Fun's SAT prep helped them understand and learn many of the skills required for the SAT where other resources failed to do so. Retention was more than double what schools saw with other SAT prep resources, 70% of the students who had given up on studying prior to the pilot actively studied, self-reported confidence for the SAT increased, and 90% of students stated they would recommend Almost Fun's SAT prep to a friend. A positive, statistically significant correlation between time spent studying with Almost Fun's SAT prep and change in SAT score continues to be measured as well.
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