Civic Intelligence

Hilo Chinese School Foundation

990PF • Fiscal year 2020 • EIN 84-4516242

Jan 01, 2020 to Dec 31, 2020 • Filed on Feb 25, 2022

Organization Profile
PO Box 1473Hilo, HI 96721

(808) 935-7830

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2020

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2020

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2020

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

Asset Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2019 to 2020

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2019 to 2020

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Flat

$0

Flat from 2019

Net Assets

Flat

$0

Flat from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

Flat

$0

Flat from 2019

Expenses

Flat

$0

Flat from 2019

Net Income

Flat

$0

Flat from 2019

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$1.5M$1.0M$500K$0Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020Assets 2021: $100,000Liabilities 2021: $0Net Assets 2021: $100,0002021Assets 2022: $1,067,468Liabilities 2022: $10,723Net Assets 2022: $1,056,7452022Assets 2023: $1,075,687Liabilities 2023: $8,425Net Assets 2023: $1,067,2622023Assets 2024: $1,290,749Liabilities 2024: $152,118Net Assets 2024: $1,138,6312024

Highlighted filing

2020

Assets$0
Liabilities$0
Net Assets$0
Open 2020 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.5M$1.0M$500K$0Revenue 2019: $0Expenses 2019: $0Net Income 2019: $02019Revenue 2020: $0Expenses 2020: $0Net Income 2020: $02020Revenue 2021: $100,000Expenses 2021: $0Net Income 2021: $100,0002021Revenue 2022: $1,041,715Expenses 2022: $85,828Net Income 2022: $955,8872022Revenue 2023: $102,045Expenses 2023: $90,669Net Income 2023: $11,3762023Revenue 2024: $142,611Expenses 2024: $71,242Net Income 2024: $71,3692024

Highlighted filing

2020

Revenue$0
Expenses$0
Net Income$0
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Feb 25, 2022
Return Version
2020v4.2
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
TIMOTHY SK YOUNGPresident, Treasurer, Director-$0--
WALLACE F CHONG IIIVice President, Director-$0--
LEONARD CHOW JRSecretary, Director-$0--
Filing and Contact Details

Filer

Filer Name
Hilo Chinese School Foundation
EIN
84-4516242
Phone
8089357830
Address
PO BOX 1473, HILO, HI 96721

Signing Officer

Name
Timothy Young
Title
Pres, Treasurer, Director
Phone
8089357830
Signed
2022-02-25
Discuss with paid preparer
Yes

Preparer

Firm
Taketa Iwata Hara & Associates LLC
Address
101 AUPUNI STREET SUITE 139, HILO, HI 96720
Preparer
Brian M Iwata
Phone
8089355404
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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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IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/TitleTxt0PRESIDENT, TREASURER, DIRECTOR
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/TitleTxt1VICE PRESIDENT, DIRECTOR
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/TitleTxt2SECRETARY, DIRECTOR
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ReasonableCauseExplanation/ExplanationTxt0HILO CHINESE SCHOOL FOUNDATION ("FOUNDATION") IS REQUESTING A PENALTY ABATEMENT DUE TO REASONABLE CAUSE. THE FOUNDATION IS OPERATED BY A SMALL GROUP OF VOLUNTEERS. THE FOUNDATION APPLIED FOR THEIR TAX-EXEMPT STATUS IN FEBRUARY 2019; HOWEVER, DID NOT RECEIVE APPROVAL UNTIL AUGUST 2020. THE BOARD MEMBERS WERE NOT AWARE OF THE FILING REQUIREMENT DURING THE APPROVAL PROCESS, EVEN FOR A ZERO RETURN. NEITHER THEIR LEGAL COUNSEL OR CURRENT ACCOUNTANT ADVISED THAT RETURNS WOULD BE REQUIRED FOR THE YEAR THE TAX-EXEMPT APPLICATION WAS INITIATED OR FOR THE YEAR THE FOUNDATION'S FILING WAS COMPLETED. THE BOARD MEMBERS ASSUMED FILING WOULD BE REQUIRED UPON THE FUNDING OF THE FOUNDATION. DURING THE APPLICATION PROCESS, COMMUNICATION WAS ENTIRELY VIA EMAIL AND THE US POSTAL SERVICE DUE TO COVID-19 AND PROXIMITY DISTANCE WHICH RESTRICTED FACE-TO-FACE CONTACT WITH LEGAL COUNSEL. UPON COMPLETION OF THE TAX-EXEMPT FILING, THE FOUNDATION BEGAN THE ARDUOUS PROCESS TO CLOSE THE HILO CHINESE SCHOOL, A CHARITABLE TRUST, WHICH HAS OPERATED AS A TAXABLE CORPORATION SINCE ITS FOUNDING. THERE WERE TRIENNIAL REPORTS TO BE FILED WITH THE STATE OF HAWAII PROBATE COURT; REVIEWS BY THE STATE OF HAWAII OFFICE OF THE ATTORNEY GENERAL; THE COURT APPOINTMENT OF A MASTER TO REVIEW THE TRIENNIAL REPORT AND HCS OPERATIONAL RECORDS; A REVIEW OF THE MASTER'S REPORT BY THE HCS TRUSTEES, OUR LEGAL COUNSEL AND THE AG'S OFFICE; AND THEN ANOTHER PROBATE COURT HEARING. DURING THE PANDEMIC THE COURT HEARINGS WERE SUSPENDED AND HAD TO BE HELD VIRTUALLY. UPON FINAL COURT APPROVAL THE BOARD MEMBERS CONTACTED THEIR ACCOUNTANT TO FILE THE 990 AND WERE THEN INFORMED THE ACCOUNTANT DID NOT HAVE THE KNOWLEDGE BASE TO ACCURATELY PREPARE THE RETURN, EVEN THOUGH THERE WAS NO INCOME, ACTIVITY OR ASSETS IN THE FOUNDATION.AT THE END OF TAX YEAR 2021, THE FOUNDATION RECEIVED THEIR FIRST CONTRIBUTION AND SECURED THE SERVICES OF A NEW ACCOUNTANT TO PREPARE AND E-FILE CURRENT AND PREVIOUS TAX RETURNS. BASED UPON THE ABOVE CIRCUMSTANCE, THE FOUNDATION IS REQUESTING AN ABATEMENT OF PENALTIES UNDER SEC. 6652(C)(4).
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ReturnHeader/TaxPeriodBeginDt02020-01-01
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ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990PFDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$0
Expenses
$0
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.29$0.15$1.14$0.14$0.07$0.07
2023Detailed filing. Detailed filing data is available for this year.$1.08$0.01$1.07$0.10$0.09$0.01
2022Detailed filing. Detailed filing data is available for this year.$1.07$0.01$1.06$1.04$0.09$0.96
2021Detailed filing. Detailed filing data is available for this year.$0.10$0.00$0.10$0.10$0.00$0.10
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
2019Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00