Civic Intelligence

Hb Foundation Inc.

990EZ • Fiscal year 2022 • EIN 85-0683094

Jul 01, 2021 to Jun 30, 2022 • Filed on Oct 30, 2024

Organization Profile
14 W 170th StreetBronx, NY 10452

(914) 476-0600

Siviq Scores

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

Liabilities / Assets

66th percentile

0.00x

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

2022 filings • NTEE B • <$500k nonprofits • Source year 2022

Liabilities / Revenue

66th percentile

0.00x

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

2022 filings • NTEE B • <$500k nonprofits • Source year 2022

Net Margin

83rd percentile

48%

Higher net margin than 83% of similar nonprofits.

2022 filings • NTEE B • <$500k nonprofits • Source year 2022

Top Officer Pay

85th percentile

$0

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • NTEE B • <$500k nonprofits • Source year 2022

Asset Growth

100th percentile

24100%

Faster asset growth than 100% of similar nonprofits.

2022 filings • NTEE B • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

Score unavailable

No value available

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

Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets66th percentile

Assets

Up

$242

Up $241 (+24100%) from 2021

Net Assets

Flat

$242

Flat from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue66th percentileNet Margin83rd percentile

Revenue

Up

$500

Up $500 from 2021

Expenses

Up

$258

Up $258 from 2021

Net Income

Up

$242

Up $242 from 2021

Historical Trend

Balance Sheet Trend

Asset Growth100th percentile

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

$300$200$100$0Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020Assets 2021: $1Liabilities 2021: $0Net Assets 2021: $2422021Assets 2022: $242Liabilities 2022: $0Net Assets 2022: $2422022Assets 2022: $242Liabilities 2022: $0Net Assets 2022: $2422022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2022

Assets$242
Liabilities$0
Net Assets$242
Open 2022 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$600$400$200$0Revenue 2020: $0Expenses 2020: $0Net Income 2020: $02020Revenue 2021: $0Expenses 2021: $0Net Income 2021: $02021Revenue 2022: $500Expenses 2022: $258Net Income 2022: $2422022Revenue 2022: $500Expenses 2022: $258Net Income 2022: $2422022Revenue 2023: $0Expenses 2023: $0Net Income 2023: $02023Revenue 2024: $0Expenses 2024: $0Net Income 2024: $02024

Highlighted filing

2022

Revenue$500
Expenses$258
Net Income$242
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Oct 30, 2024
Return Version
2021v4.2
Gross Receipts
$0
Mission and Program Overview

Mission

The purpose of hb foundation, inc. Is to acquire, develop, own, lease, operate and maintain real property assets for the benefits of tax-exempt charter schools located in the new york metropolitan area and to provide supplemental support to those charter schools.

Program Services

DescriptionGrantsExpenses
THE PURPOSE OF HB FOUNDATION, INC. IS TO ACQUIRE, DEVELOP, OWN, LEASE, OPERATE AND MAINTAIN REAL PROPERTY ASSETS FOR THE BENEFITS OF TAX-EXEMPT CHARTER SCHOOLS LOCATED IN THE NEW YORK METROPOLITAN AREA AND TO PROVIDE SUPPLEMENTAL SUPPORT TO THOSE CHARTER SCHOOLS.-$0
Compensation and Service Providers
Top Officer Pay85th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joel RiveraChairman-$0--
Rosa MercadoSecretary-$0--
Nilza OyolaDirector-$0--
Susana R LeonDirector-$0--
Filing and Contact Details

Filer

Filer Name
HB Foundation Inc
EIN
85-0683094
In Care Of
% KEVIN KEARNS
Phone
9144760600
Address
14 W 170th Street, Bronx, NY 10452

Signing Officer

Name
Kevin Kearns
Title
CFO
Phone
9144760600
Signed
2024-10-30
Discuss with paid preparer
Yes

Preparer

Firm
Forvis Mazars LLP
Address
135 W 50TH STREET, New York, NY 10020
Preparer
Aaron Shapiro
Phone
2128127000
Supplemental Narrative

Additional Explanations

Form 990-EZ, Page 1, Box B

“The 990-EZ is being amended due to the issuance of the financial statements. The following parts of the 990-EZ were affected by the amendment: - Part I - Part II”

Raw XML Appendix147 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.

Path#Value
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IRS990EZ/BooksInCareOfDetail/PersonNm0KEVIN KEARNS
IRS990EZ/BooksInCareOfDetail/PhoneNum09144760600
IRS990EZ/BooksInCareOfDetail/USAddress/AddressLine1Txt014 W 170TH STREET
IRS990EZ/BooksInCareOfDetail/USAddress/CityNm0Bronx
IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd0NY
IRS990EZ/BooksInCareOfDetail/USAddress/ZIPCd010452
IRS990EZ/CashSavingsAndInvestmentsGrp/BOYAmt0242
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IRS990EZ/InfoInScheduleOPartIIIInd0X
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IRS990EZ/LobbyingActivitiesInd0false
IRS990EZ/MadeLoansToFromOfficersInd0false
IRS990EZ/MethodOfAccountingAccrualInd0X
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt00
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt30
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm0Joel Rivera
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm1Rosa Mercado
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm2Nilza Oyola
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm3Susana R Leon
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt0Chairman
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt1Secretary
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt2Director
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt3Director
IRS990EZ/OperateHospitalInd0false
IRS990EZ/Organization501c3Ind0X
IRS990EZ/OrganizationDissolvedEtcInd0false
IRS990EZ/OrganizationHadUBIInd0false
IRS990EZ/OtherAssetsTotalDetail/BOYAmt00
IRS990EZ/OtherAssetsTotalDetail/EOYAmt00
IRS990EZ/PoliticalCampaignActyInd0false
IRS990EZ/PrimaryExemptPurposeTxt0THE PURPOSE OF HB FOUNDATION, INC. IS TO ACQUIRE, DEVELOP, OWN, LEASE, OPERATE AND MAINTAIN REAL PROPERTY ASSETS FOR THE BENEFITS OF TAX-EXEMPT CHARTER SCHOOLS LOCATED IN THE NEW YORK METROPOLITAN AREA AND TO PROVIDE SUPPLEMENTAL SUPPORT TO THOSE CHARTER SCHOOLS.
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0THE PURPOSE OF HB FOUNDATION, INC. IS TO ACQUIRE, DEVELOP, OWN, LEASE, OPERATE AND MAINTAIN REAL PROPERTY ASSETS FOR THE BENEFITS OF TAX-EXEMPT CHARTER SCHOOLS LOCATED IN THE NEW YORK METROPOLITAN AREA AND TO PROVIDE SUPPLEMENTAL SUPPORT TO THOSE CHARTER SCHOOLS.
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt00
IRS990EZ/ProhibitedTaxShelterTransInd0false
IRS990EZ/RelatedOrganizationCtrlEntInd0false
IRS990EZ/SalariesOtherCompEmplBnftAmt00
IRS990EZ/SchoolOperatingInd0false
IRS990EZ/SpecialEventsDirectExpensesAmt00
IRS990EZ/SpecialEventsNetIncomeLossAmt00
IRS990EZ/SubjectToProxyTaxInd0false
IRS990EZ/SumOfTotalLiabilitiesGrp/BOYAmt00
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IRS990EZ/TanningServicesProvidedInd0false
IRS990EZ/TotalExpensesAmt00
IRS990EZ/TotalProgramServiceExpensesAmt00
IRS990EZ/TotalRevenueAmt00
IRS990EZ/TransactionWithControlEntInd0false
IRS990EZ/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990EZ/TypeOfOrganizationCorpInd0X
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd0true
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportForeignOrgNoDetermInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd0false
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesEngagedOrgInvlmntInd0true
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesFurtherExemptPrpsInd0true
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesTestInd0X
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/OfficersCloseRelationshipInd0true
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/SupportedOrgVoiceInvestmentInd0false
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/TimelyProvidedDocumentsInd0false
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Line 2a: The purpose of HB Foundation, Inc. is to acquire, develop, construct, own, lease, operate and maintain real property assets for the benefit of tax-exempt charter schools located in the New York metropolitan area and to provide supplemental support to those charter schools. The board of directors of HB Foundation will oversee these real estate activities. HB Foundation anticipates that it will initially devote 100% of its collective time to these real estate activities; all of HB Foundation's overall expenses will be allocated to its activities. Line 2b: HB Foundation's planned activities are in furtherance of its tax-exempt purposes of providing real estate assets and support to tax-exempt charter schools operating in the New York metropolitan area. FLACS is a tax-exempt approved charter school that has been operating in the Bronx, New York, since 2001. Consistent with its mission, FLACS educates approximately 1,400 students in kindergarten through grade eight. In 2012 and 2014, FLACS expanded to include a second and third school respectively. In 2019, FLACS opened a middle school campus for all its elementary students to attend. Finally, FLACS has obtained approval to open a fourth school beginning in 2021. HB Foundation intends to provide FLACS with the real estate facilities it requires to support its growth.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Schedule A, Section E, Line 2
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IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0FAMILY LIFE ACADEMY CHARTER SCHOOLS
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3FuncIntInd0X
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The 990-EZ is being amended due to the issuance of the financial statements. The following parts of the 990-EZ were affected by the amendment: - Part I - Part II
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990-EZ, Page 1, Box B
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Kevin Kearns
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum09144760600
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-10-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HB Foundation Inc
ReturnHeader/Filer/BusinessNameControlTxt0HBFO
ReturnHeader/Filer/EIN0850683094
ReturnHeader/Filer/InCareOfNm0% KEVIN KEARNS
ReturnHeader/Filer/PhoneNum09144760600
ReturnHeader/Filer/USAddress/AddressLine1Txt014 W 170th Street
ReturnHeader/Filer/USAddress/CityNm0Bronx
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010452
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Forvis Mazars LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0135 W 50TH STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0New York
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010020
ReturnHeader/PreparerPersonGrp/PhoneNum02128127000
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Aaron Shapiro
ReturnHeader/ReturnTs02024-12-04T10:42:41-06:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990EZDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$242
Liabilities
$0
Net assets
$242
Revenue
$500
Expenses
$258
Net income
$242
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0$0$0$0$0$0
2023Detailed filing. Detailed filing data is available for this year.$0$0$0$0$0$0
2022Detailed filing. Detailed filing data is available for this year.$242$0$242$500$258$242
2022Detailed filing. Detailed filing data is available for this year.$242$0$242$500$258$242
2021Detailed filing. Detailed filing data is available for this year.$1$0$242$0$0$0
2020Detailed filing. Detailed filing data is available for this year.$0$0$0$0$0$0