Herald Foundation

Nonprofit profile at a glance

EIN
261431045
IRS 990 coverage
2014–2023
Forms available
Form 990 2023, Form 990-EZ 2022
Location
Rosemead, CA, USA
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Human Service Organizations

Reported finances

Revenue
$436,945
Expenses
$446,118
Assets
$188,812
Liabilities
$3,162

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

1 person listed

People named in this filing

  • Katie Chau (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide Humanitarian

What it reported doing in 2023

To provide the humanitarian assistance and services to the international communities

Operating model

Revenue model
Affiliate-supported. 100% of the money available for current operations came from contributions from related organizations.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - A large share of available resources goes toward mission work and program spending has grown recently. A relatively small share of voting board members are independent and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 49
  • Accountability: 12
  • Sustainability: 36
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 83.3%; rating input score 83; 2nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 22.4%; rating input score 22; 40th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -2.1%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 0.42; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 4.8% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: -0.3% per year; rating input score 0; 25th percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 5 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $446K in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 13 of 15 current checks pass · 2 findings to review
  • Schedules: 5 filed schedules · includes foreign activity and grants
  • Filing history: 4 filing years from 2014 to 2023
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Transparency & Controls: Grant itemization coverage scored 22/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 36/100.
  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.