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Nonprofiteer
← HMONG EDUCATION REFORM COMPANY

Form 990 for tax year 2024

Filed by HMONG EDUCATION REFORM COMPANY.

Totals

Total revenue
$5,545,207
Total expenses
$5,888,715
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$5,431,028
Investment income
$114,179
Other revenue
$0
Total assets, end of year
$74,967,605
Total liabilities, end of year
$77,158,291
Net assets or fund balances, end of year
-$2,190,686
Program services expenses (Part IX)
$5,717,378
Management and general expenses
$171,337
Fundraising expenses
$0
Program service expenses (Part III)
$5,717,378

Program services were 97.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: Lease Revenue

    total $5,431,028 · related or exempt $5,431,028

  • 3 · Investment income

    total $114,179 · excluded $114,179

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $2,500 · management and general $2,500

  • 11g · Fees: other

    total $202,944 · program services $34,107 · management and general $168,837

  • 16 · Occupancy

    total $189,426 · program services $189,426

  • 20 · Interest

    total $3,782,026 · program services $3,782,026

  • 22 · Depreciation, depletion and amortization

    total $1,711,819 · program services $1,711,819

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $3,199,062 · end of year $3,574,151

  • 9 · Prepaid expenses and deferred charges

    end of year $55,883

  • 10a · Land, buildings and equipment: cost or other basis

    $84,624,301

  • 10b · Land, buildings and equipment: accumulated depreciation

    $13,286,730

  • 10c · Land, buildings and equipment, net

    beginning of year $73,049,392 · end of year $71,337,571

  • 17 · Accounts payable and accrued expenses

    beginning of year $101,534 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $70,777,806 · end of year $75,595,346

  • 24 · Unsecured notes and loans payable

    beginning of year $5,975,092

  • 25 · Other liabilities

    beginning of year $1,241,200 · end of year $1,562,945

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year -$1,847,178 · end of year -$2,190,686

Mission and programs · 2024

Mission

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.

  • 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.

    Expenses $5,717,378 · Revenue $5,431,028

As filed on the 2024 return.

Listed in Part VII

  • Luke Mead

    Board Chair/ Project Manager

    Total calculated
    $99,710
    From this org
    $0
    From related orgs
    $86,777
    Other
    $12,933
    Hours/week
    1 + 40 related

  • Mariah Mercil

    Board Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Jenee Nordstrom-Anderson

    Board Secretary/ Teaching Director

    Total calculated
    $123,343
    From this org
    $0
    From related orgs
    $107,220
    Other
    $16,123
    Hours/week
    1 + 40 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
13 May 2026
IRS schema version
2024v5.5
Source object
202601349349305960

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