Viswise Academy Inc

Nonprofit profile at a glance

EIN
852331341
IRS 990 coverage
2022–2022
Forms available
Form 990 2022
Location
Scarsdale, NY, USA
Phone
9148267668
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$608,724
Expenses
$586,988
Assets
$26,461
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Chris Yao (President)

People named in this filing

  • Xiaohong Huang (Board Chairman)
  • Allison Zhao (Board Member)
  • Rachel Yang (Secretary)

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 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Founded in New York, Viswise Academy is a 501(c)(3) non-profits educational organization. And committed to bringing the best quality financial, investment, communication, leadership and career training into the classrooms of K12 students and adults in the most simple and understandable teaching methods.

What it reported doing in 2022

Youth Innovation and Entrepreneurship Boot Camp. Viswise Academy also launched this camp over the summer at a local high school in New York State. It attracted more than 100 middle school & high school students. Our summer camp is designed to provide a dynamic and immersive learning experience. We offer a diverse range of workshops and speakers, covering everything from personal finance to business strategy, led by professionals from a variety of industries. Through hands-on team projects and challenges, teens will develop valuable leadership and problem-solving skills. On the final day of camp, teens will have the opportunity to pitch an original, viable business idea to a panel of investors and executives, who will provide feedback and guidance. Throughout the program, our staff provides a supportive and safe environment, while also encouraging autonomy and independence among participants.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 95% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 90
  • Accountability: 18
  • Sustainability: 43
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.4%; rating input score 96
  • Program expense ratio: 100%; rating input score 100
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 4th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 3.6%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 0.05; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 93; 93rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 82; 82nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 96.4% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 3 board members independent · 3 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $587K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 41 of 41 current checks pass
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.