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Herald Education Inc

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Educational Institutions and Related Activities / Student Services, Organizations of Students (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$106k (2022)

Expenses
$5.2k (2022)

Total Assets
$51.1k (2022)

Total Liabilities
$64.2k (2022)

Source: Form 990 tax filings from 2012 to 2022

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending June
2022

Extracted Financial Data

Extracted Financial Data from 990-EZ
Revenue
$105,724
Expenses
$5,198
Net Income
$100,526
Net Assets
-$13,057
Notable Sources of Revenue Percent of Total Revenue
Contributions $62,369
59.0%
Program Services $43,355
41.0%
Investment Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Assets/Debt
Total Assets $51,115
Total Liabilities $64,172
Net Assets -$13,057
Compensation
Key Employees and Officers Compensation Other
Pak Cheung Lo (Board President) $0 $0
Ellen Yuen (Secretary) $0 $0
Rachael Lok (Treasurer) $0 $0

Document Links

Fiscal Year Ending June
2021

Extracted Financial Data

Extracted Financial Data from 990-EZ
Revenue
$3,504
Expenses
$2,938
Net Income
$566
Net Assets
-$113,583
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $3,504
100%
Investment Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Assets/Debt
Total Assets $69,679
Total Liabilities $183,262
Net Assets -$113,583
Compensation
Key Employees and Officers Compensation Other
Pak Cheung Lo (Board President) $0 $0
Ellen Yuen (Secretary) $0 $0
Rachael Lok (Treasurer) $0 $0

Document Links

Fiscal Year Ending June
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$421,371
Expenses
$404,633
Net Income
$16,738
Net Assets
-$114,149
Notable Sources of Revenue Percent of Total Revenue
Contributions $10,000
2.4%
Program Services $411,371
97.6%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $8,556
2.1%
Professional Fundraising Fees $0
Other Salaries and Wages $217,626
53.8%
Assets/Debt
Total Assets $17,703
Total Liabilities $131,852
Net Assets -$114,149
Compensation
Key Employees and Officers Compensation Related Other
Roger Chan (Managing Director) $8,556 $0 $0
Siukwong Patrick Chan (Operation Director) $0 $0 $0
Katie Yim Chun Kan Chau (Board President) $0 $0 $0
Ellen Yuen (Secretary) $0 $0 $0
Rachael Wu (Treasurer) $0 $0 $0

Document Links

Fiscal Year Ending June
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$526,573
Expenses
$585,787
Net Income
-$59,214
Net Assets
-$121,080
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $526,573
100%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $45,006
7.7%
Professional Fundraising Fees $0
Other Salaries and Wages $275,844
47.1%
Assets/Debt
Total Assets $100,070
Total Liabilities $221,150
Net Assets -$121,080
Compensation
Key Employees and Officers Compensation Related Other
Roger Chan (Managing Director) $45,006 $0 $0
Siukwong Patrick Chan (Operation Director) $0 $0 $0
Katie Yim Chun Kan Chau (Board President) $0 $0 $0
Ellen Yuen (Secretary) $0 $0 $0
Rachael Wu (Treasurer) $0 $0 $0

Document Links

Fiscal Year Ending June
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$617,431
Expenses
$659,493
Net Income
-$42,062
Net Assets
-$61,867
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $617,427
100.0%
Investment Income $4
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $45,006
6.8%
Professional Fundraising Fees $0
Other Salaries and Wages $279,052
42.3%
Assets/Debt
Total Assets $64,384
Total Liabilities $126,251
Net Assets -$61,867
Compensation
Key Employees and Officers Compensation Related Other
Roger Chan (Managing Director) $45,006 $0 $0
Siukwong Patrick Chan (Operation Director) $0 $0 $0
Katie Yim Chun Kan Chau (Board President) $0 $0 $0
Ellen Yuen (Secretary) $0 $0 $0
Rachael Wu (Treasurer) $0 $0 $0

Document Links

Fiscal Year Ending June
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$610,997
Expenses
$563,981
Net Income
$47,016
Net Assets
-$19,806
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $610,997
100%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $46,737
8.3%
Professional Fundraising Fees $0
Other Salaries and Wages $306,279
54.3%
Assets/Debt
Total Assets $61,026
Total Liabilities $80,832
Net Assets -$19,806
Compensation
Key Employees and Officers Compensation Related Other
Roger Chan (Managing Director) $38,827 $0 $0
Siukwong Patrick Chan (Operation Director) $0 $0 $0
Hung Tse (Board President) $0 $0 $0
Katie Yim Chun Kan Chau (Secretary) $0 $0 $0
Ellen Yuen (Board Member) $0 $0 $0
Rachael Wu (Treasurer) $0 $0 $0

Document Links

Fiscal Year Ending June
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$587,008
Expenses
$598,932
Net Income
-$11,924
Net Assets
-$66,821
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $587,008
100%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $45,620
7.6%
Professional Fundraising Fees $0
Other Salaries and Wages $310,652
51.9%
Assets/Debt
Total Assets $51,592
Total Liabilities $118,413
Net Assets -$66,821
Compensation
Key Employees and Officers Compensation Related Other
Roger Chan (Managing Director) $50,646 $0 $0
Siukwong Patrick Chan (Operation Director) $0 $0 $0
Hung Tse (Board President) $0 $0 $0
Katie Yim Chun Kan Chau (Secretary) $0 $0 $0
Ellen Yuen (Board Member) $0 $0 $0
Rachael Wu (Treasurer) $0 $0 $0

Document Links

Fiscal Year Ending June
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$723,727
Expenses
$749,738
Net Income
-$26,011
Net Assets
-$52,497
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $723,727
100%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $60,996
8.1%
Professional Fundraising Fees $0
Other Salaries and Wages $331,330
44.2%
Assets/Debt
Total Assets $137,793
Total Liabilities $190,290
Net Assets -$52,497
Compensation
Key Employees and Officers Compensation Related Other
Roger Chan (Managing Director) $60,996 $0 $0
Siukwong Patrick Chan (Operation Director) $0 $0 $0
Hung Tse (Board President) $0 $0 $0
Katie Yim Chun Kan Chau (Secretary) $0 $0 $0
Ellen Yuen (Board Member) $0 $0 $0
Rachael Wu (Treasurer) $0 $0 $0

Document Links

Fiscal Year Ending June
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$895,596
Expenses
$852,642
Net Income
$42,954
Net Assets
-$28,886
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $895,596
100%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $60,996
7.2%
Professional Fundraising Fees $0
Other Salaries and Wages $327,248
38.4%
Assets/Debt
Total Assets $147,275
Total Liabilities $176,161
Net Assets -$28,886
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Roger Chan (Managing Director) $60,996 $0 $0
Siukwong Patrick Chan (Operation Director) $0 $0 $0
Hung Tse (Board President) $0 $0 $0
Katie Yim Chun Kan Chau (Secretary) $0 $0 $0
Ellen Yuen (Board Member) $0 $0 $0
Rachael Wu (Treasurer) $0 $0 $0

Document Links

Fiscal Year Ending June
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$801,133
Expenses
$801,689
Net Income
-$556
Net Assets
-$71,840
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $797,283
99.5%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $3,850
0.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $58,650
7.3%
Professional Fundraising Fees $0
Other Salaries and Wages $333,373
41.6%
Assets/Debt
Total Assets $158,651
Total Liabilities $230,491
Net Assets -$71,840

Document Links

Fiscal Year Ending June
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$813,011
Expenses
$858,942
Net Income
-$45,931
Net Assets
-$71,284
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $808,915
99.5%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $4,096
0.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $26,182
3.0%
Professional Fundraising Fees $0
Other Salaries and Wages $407,832
47.5%
Assets/Debt
Total Assets $130,503
Total Liabilities $201,787
Net Assets -$71,284

Document Links

Fiscal Year Ending June
2011

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

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Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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