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Higher Education Management INC

Lakewood, NJUnknown exempt organizationEIN 22-2959357Revenue $284K in FY2021

On file with the IRS900 Forest Ave · Lakewood, NJ

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Assisting s 501(c)(3) educational institutions

94¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 2
filings with a surplus
Average deficit $1.2M a year · 852% of revenue · last 2 filings
Concern: a surplus in 0 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$632K
53% of total assets
Fine: liabilities are 53% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$284K
×134 vs prior year
Spent
$1.2M
To programs
94%
Net assets
$554K
By yearFY2020–FY2021
Revenue
$284K
FY2021▲ ×134
Tap a bar for its year
Revenue by fiscal year
FY2020$2K
FY2021$284K
Expenses
$1.2M
FY2021▼ -16%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.5M
FY2021$1.2M
Net assets
$554K
FY2021▼ -63%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.5M
FY2021$554K

From the FY2021 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2021.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $1.2M Management & general 6% · $73K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
E Kahan
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Higher Education Management INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Helps educational institutions with their 501(c)(3) status.

Questions for Higher Education Management INC

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Provided by the organization

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2 programs · $1.2M · in their own filed words · FY2021
01

Support of 501(c)(3) organization

$1.2Mprogram expense
02

Counseling and training to higher educational institutions exempt under 501(c)(3) regarding title iv federal assistance at below market fees.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 1 grant · $1.4M · 2020–2020
Higher Education Compliance and Management INCNJ · FY2020$1,395,000

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$284K
Ln 12
Investment incomeLn 3$284K
Money outPt IX
$1.2M
Ln 25
Programscol B$1.2M
Managementcol C$73K
Owns and owesPt X
$554K
net assets · Ln 32
Cash and savingsLn 1–2$119K
Total assetsLn 16$1.2M
LiabilitiesLn 26$632K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$284K
Gains on assetsLn 7$284K
Total revenueLn 12$284K
Assets in detailPt X, end of year
CashLn 1$119K
Cash and savings togetherLn 1–2$119K
InvestmentsLn 11–13$1.1M
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$1.2M
LiabilitiesLn 26$632K
Net assetsLn 32$554K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$153K$119K
InvestmentsLn 11–13$1.1M$1.1M
Land, buildings, equipmentLn 10c$883K$0
Total assetsLn 16$2.1M$1.2M
LiabilitiesLn 26$598K$632K
Net assetsLn 32$1.5M$554K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.2M$1.2M
Office expensesLn 13$1K$1K
OccupancyLn 16$8K$8K
Depreciation, depletion and amortizationLn 22$922$922
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$61K$61K
Total functional expensesLn 25$1.2M$1.2M$73K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest Viewing $284K$1.2M−$959K$554K 990 PDF
FY2020 $2K$1.5M−$1.5M$1.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $284,167 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $2,121$284,167
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $2,121$284,167
I-13 Grants and similar amounts paidPrior year $1,395,000$1,169,660
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $60$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $88,071$73,142
I-18 Total expensesPrior year $1,483,131$1,242,802
I-19 Revenue less expensesPrior year −$1,481,010−$958,635
Part VI · Governance 3 of 3 board members independent, 5 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $284,167 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $82$82
VIII-7 Net gain or loss on sales of assetsExcluded from tax $284,085$284,085
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $284,167$284,167
Part IX · Statement of functional expenses $1,242,802 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $1,169,660$1,169,660
IX-13 Office expensesManagement $1,292$1,292
IX-16 OccupancyManagement $7,772$7,772
IX-22 Depreciation, depletion and amortizationManagement $922$922
IX-23 InsuranceManagement $1,899$1,899
IX-24 Other expenses (24a–d)Management $61,257$61,257
IX-25 Total functional expensesPrograms $1,169,660 · Management $73,142 · Fundraising $0$1,242,802
Part X · Balance sheet $1,185,664 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $153,201$118,786
X-10c Land, buildings and equipment, netStart of year $882,537$0
X-13 Program-related investmentsStart of year $1,074,836$1,066,878
X-16 Total assetsStart of year $2,110,574$1,185,664
X-17 Accounts payable and accrued expensesStart of year $2,665$10,377
X-25 Other liabilitiesStart of year $595,496$621,509
X-26 Total liabilitiesStart of year $598,161$631,886
X-32 Total net assets or fund balancesStart of year $1,512,413$553,778
X-33 Total liabilities and net assetsStart of year $2,110,574$1,185,664
Part XI · Reconciliation of net assets $553,778 net assets at year end
XI-1 Total revenue$284,167
XI-2 Total expenses$1,242,802
XI-3 Revenue less expenses−$958,635
XI-4 Net assets at start of year$1,512,413
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$553,778

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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