Hmong Education Reform Company
- Assets
- $74.8m
- Revenue
- $9.9m
- Investments
- $0.0
- Employees
- 0
- Location
- St Paul, MN
- Founding
- 06/2006
- Data as of
- 06/2021
- EIN
- 20-4244605
Organization Overview
Hmong Education Reform Company is located in St Paul, MN. The organization was established in 2006. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hmong Education Reform Company is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Hmong Education Reform Company generated $9.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 30.9% each year . All expenses for the organization totaled $6.0m during the year ending 06/2021. While expenses have increased by 19.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PURCHASE, OWN, AND CONSTRUCT A SCHOOLHOUSE ON REAL ESTATE FOR LEASE TO HMONG COLLEGE PREP ACADEMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY IN SUPPORT OF HMONG COLLEGE PREP ACADEMY AND IN PARTICULAR, TO PURCHASE, OWN, AND CONSTRUCT A PUBLIC SCHOOLHOUSE ON REAL ESTATE FOR LEASE TO HMONG COLLEGE PREP ACADEMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Yang Secretary | OfficerTrustee | 1 | $54,566 |
Dave Bonko Vice Chair | OfficerTrustee | 1 | $9,600 |
Maisian Schiung Board Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ma Mortenson Company Inc Construction | 6/29/21 | $925,685 |
Land Title Inc Bond Financing | 6/29/21 | $783,484 |
Kodet Architectural Group Ltd Architect | 6/29/21 | $436,241 |
Charter School Financing Partnership Llc Bond Financing | 6/29/21 | $408,388 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $9,871,708 |
| Investment income | $650 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,901,803 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $27,525 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,561,490 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,251,548 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,123,645 |
| Insurance | $14,867 |
| All other expenses | $0 |
| Total functional expenses | $5,979,075 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $81,948 |
| Savings and temporary cash investments | $7,077,874 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,434 |
| Net Land, buildings, and equipment | $67,361,922 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $290,814 |
| Total assets | $74,819,992 |
| Accounts payable and accrued expenses | $3,847,359 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $72,479,674 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $515,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,362,190 |
| Total liabilities | $78,204,223 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $3,386,967 |
| Paid-in or capital surplus, or land, building, or equipment fund | -$6,771,198 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $74,819,992 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Northern Iowa Foundation Cedar Falls, IA | $173,378,893 | $31,725,389 |
National Assistance Foundation Des Moines, IA | $16,519,301 | $16,875,706 |
Sioux Falls Christian Schools Association Sioux Falls, SD | $33,580,780 | $15,294,565 |
University Research Park Inc Madison, WI | $162,117,796 | $19,527,506 |
Grinnell College Medical Benefit Plan Trust Agreement Grinnell, IA | $11,174,588 | $9,791,771 |
University Of Wisconsin-Eau Claire Foundation Inc Eau Claire, WI | $103,402,476 | $22,599,486 |
Iowa State University Research Park Corp Ames, IA | $68,199,725 | $11,124,615 |
Minnesota State University Mankato Foundation Incorporated Mankato, MN | $77,015,205 | $9,285,148 |
University Gateway Corporation Minneapolis, MN | $78,655,248 | $6,023,242 |
Charles & Ellora Alliss Educational Foundation Milwaukee, WI | $87,576,345 | $9,781,011 |
Iowa High School Athleticassociation Boone, IA | $17,327,220 | $5,760,245 |
St Cloud State University Foundation Inc St Cloud, MN | $54,919,652 | $10,818,973 |