House of Language Acquistion Inc

Nonprofit profile at a glance

EIN
464195115
IRS 990 coverage
2015–2020
Forms available
Form 990 2020, Form 990-EZ 2014
Location
New York, NY, USA
Phone
9143301022
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Youth Development Programs

Official website

Reported finances

Revenue
$264,648
Expenses
$340,813
Assets
$112,659
Liabilities
$8,265

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • MARIA LORA (PRESIDENT OF THE BOARD)
  • MONICA FERRER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MONICA FERRER (EXECUTIVE DIRECTOR): $40,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The house of language acquisition (hola) is a montessori inspired and progressive spanish immersion day care program for children 2-5. Our mission is for every child to experience a quality, cohesive and spanish immersed learning experience from age two to five years by integrating the core principles of the montessori method with creative play and exploratory curriculum. Hola is committed to meet the scheduling needs of working families to allow them to pursue employment while providing a nurturing learning environment for their children.

What it reported doing in 2020

Hola nyc is a spanish immersion, montessori inspired, mixed-age early childhood non profit preschool for children ages 2 to 5 that incorporates the best practices from the most current research in early childhood development. Hola nyc served 33 students in 2020 throughout its various programs during the year. In 2020, we had 3 students graduated to kindergarten. We were open for 47 weeks and had programming for a total of 227 days during the year. Every month we publish an online newsletter to be connected with the families and our community, showing them what the students were doing during each month and during the school year. We had four community festivals, art exhibition, and other activities like field trips, parent socials, and mother and father celebrations.our various schedules for programs include: morning program (from 8-12:30 pm), school day program between (9-3:00pm), full day program (8-6:00pm), after-school program (3-6:00pm) and an 8-week summer camp during july and august.our program was created by families with working families in mind. During 2020 we wanted to address the specific challenges of families looking for great quality full-time daycare programs in nyc. We are a small program because we are a vibrant community that values relationships and acknowledges that for children to grow and thrive overlapping circles of love and care need to be created. Our longer-term goal is to create a community that gives our students supporting learning opportunities based on play and real life experiences and every day tasks. Hola nyc children participe in regular fieldtrips to support learning and to explore nearby parks, museums, theater, music and arts programs. We encourage our students' high values, which they can use in their future and towards building a more integrated, inclusive and harmonious world.every month we publish an online newsletter to be connected with the families and our community, showing them what the students were doing during each month and during the school year. We had four community festivals and other activities like field trips, parent socials, and mother and father celebrations

Operating model

Revenue model
Earned-program. 91% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 92
  • Accountability: 69
  • Sustainability: 17
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.2%; rating input score 73
  • Program expense ratio: 56.8%; rating input score 57
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -28.8%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 0.33; rating input score 12; 12th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 11.7%; rating input score 33; 33rd percentile among comparable filings

Growth

  • Program expense growth: -5% per year; rating input score 0; 28th percentile among comparable filings
  • Revenue growth: 5.1% per year; rating input score 100; 64th percentile among comparable filings
  • Asset growth: 12.3% per year; rating input score 100; 72nd percentile among comparable filings

Details

  • Where the money goes: 73.2% of revenue deployed · 56.8% of spending went to programs
  • Governance: 6 of 6 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $194K in reported program spending
  • Leadership: top reported pay $40K · 7 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 6 filing years from 2015 to 2020
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

  • Review — Financial Efficiency: Program expense ratio scored 57/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Operating margin scored 11/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 12/100.
  • Moderate — Sustainability: Officer compensation ratio scored 33/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 38/100.