HONEY ART ACADEMY INC

EIN: 871935647 501(c)(3) Arts, Culture & Humanities

FLUSHING, NY

Total Revenue
$340,247
Total Expenses
$400,231
Total Assets
$175,420
Net Assets
$-48,969
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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

Principal Officer
CHANGCUI LIU
Tax Period
2024-01-01 to 2024-12-31

HONEY ART ACADEMY INC is a small nonprofit in the Arts, Culture & Humanities sector that reported $340K in total revenue in fiscal year 2024. Expenses of $400K exceeded revenue, resulting in a 18% operating deficit.

Mission

HONEY ACADEMY IS A LEADING EDUCATIONAL INSTITUTION IN FLUSHING DEDICATED TO NURTURING YOUNG MINDS AND FOSTERING CREATIVITY. OUR DIVERSE PROGRAMS ENCOMPASS DANCE, ART, MUSIC, ACADEMIC SUPPORT, AND MORE, PROVIDING A HOLISTIC LEARNING EXPERIENCE FOR CHILDREN OF ALL AGES. WITH EXPERIENCED INSTRUCTORS, STATE-OF-THE-ART FACILITIES, AND A COMMITMENT TO EXCELLENCE, WE EMPOWER STUDENTS TO EXPLORE THEIR PASSIONS, DEVELOP ESSENTIAL SKILLS, AND UNLOCK THEIR FULL POTENTIAL.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $335,597
Investment Income $0
Other Revenue $4,650
TOTAL REVENUE $340,247

Expense Breakdown

Grants Paid $0
Salaries & Benefits $112,615
Fundraising Expenses $0
Program Expenses $374,902
Other Expenses $287,616
TOTAL EXPENSES $400,231

Year-over-Year Comparison

2024 2023 Change
Revenue $340,247 N/A N/A
Expenses $400,231 N/A N/A
Net Income $-59,984 N/A N/A
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
1
Independent Members
N/A
Employees
16
Volunteers
N/A

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
1
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHANGCUI LIU OFFICER N/A
Officer
$0 $0 $0
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
2024 $340,247 $400,231 $175,420 $-59,984
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