HERALD EDUCATION INC

EIN: 273102940 501(c)(3) Education

FLUSHING, NY

Total Revenue
$421,371
Total Expenses
$404,633
Total Assets
$17,703
Net Assets
$-114,149
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2010
Legal Domicile
NY
Phone
7187998222
Tax Period
2019-07-01 to 2020-06-30

HERALD EDUCATION INC, founded in 2010, is a small nonprofit in the Education sector that reported $421K in total revenue in fiscal year 2019. Revenue decreased 20% compared to the prior year. Expenses of $405K left a modest 4% surplus.

Mission

THE MISSION OF THE ORGANIZATION IS TO PROVIDE AFFORDABLE, EFFECTIVE AND QUALITY ACADEMIC ENRICHMENT AND QUALITY ACADEMIC ENRICHMENT AND AFTERSCHOOL PROGRAMS TO THE

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2019)

Revenue Breakdown

Contributions & Grants $10,000
Program Service Revenue $411,371
Investment Income $0
Other Revenue $0
TOTAL REVENUE $421,371

Expense Breakdown

Grants Paid $0
Salaries & Benefits $249,492
Fundraising Expenses $0
Program Expenses $319,387
Other Expenses $155,141
TOTAL EXPENSES $404,633

Year-over-Year Comparison

2019 2018 Change
Revenue $421,371 $526,573 -0.2%
Expenses $404,633 $585,787 -0.3%
Net Income $16,738 $-59,214 -1.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
5
Independent Members
5
Employees
20
Volunteers
22

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$8,556
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SIUKWONG PATRICK CHAN OPERATION DIRECTOR 3.00
Officer Director
$0 $0 $0
KATIE YIM CHUN KAN CHAU BOARD PRESIDENT 2.00
Director
$0 $0 $0
ELLEN YUEN SECRETARY 2.00
Director
$0 $0 $0
RACHAEL WU TREASURER 2.00
Director
$0 $0 $0
ROGER CHAN MANAGING DIRECTOR 40.00
Officer
$8,556 $0 $8,556
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2020 $421,371 $404,633 $17,703 $16,738
2019 $526,573 $585,787 $100,070 $-59,214
2018 $617,431 $659,493 $64,384 $-42,062
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