Harmony Education Foundation
- Assets
- $114.1m
- Revenue
- $8.2m
- Investments
- $0.0
- Employees
- 204
- Location
- Houston, TX
- Founding
- 10/2015
- Data as of
- 06/2021
- EIN
- 47-3863601
Organization Overview
Harmony Education Foundation is located in Houston, TX. The organization was established in 2015. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, Harmony Education Foundation employed 204 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Harmony Education Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Harmony Education Foundation generated $8.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 41.3% each year . All expenses for the organization totaled $9.2m during the year ending 06/2021. While expenses have increased by 44.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE HARMONY EDUCATION FOUNDATION IS TO ESTABLISH PROACTIVE PARTNERSHIPS AMONG EDUCATIONAL INSTITUTIONS, PHILANTHROPIC ORGANIZATIONS, THE PRIVATE SECTOR AND THE COMMUNITIES WE SERVE TO LINK RESOURCES WITH STUDENTS EDUCATIONAL NEEDS THROUGH SCHOLARSHIPS, CLASSROOM GRANTS AND OTHER EDUCATIONAL ENDEAVORS.
Describe the Organization's Program Activity:
DEVELOPMENT AND LEASE OF CHARTER SCHOOL PROPERTIES.
DEVELPOMENT AND LEASE OF CHARTER SCHOOL PROPERTIES
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Eugene T Eski CEO | Officer | 40 | $142,300 |
Brandon Okafor Member | Trustee | $0 | |
Kamil K Celik Secretary/tr | Trustee | $0 | |
Dr Ozgur Karakuzu President | Trustee | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lomas Charter Development Llc | 6/29/21 | $9,140,844 |
Hunton Andrews Kurth Llp | 6/29/21 | $371,522 |
Gignac & Associates Llp | 6/29/21 | $772,268 |
Addison Charter Development Llc | 6/29/21 | $11,032,637 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $41,262 |
| Noncash contributions included in lines 1a–1f | $41,262 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $41,262 |
| Total Program Service Revenue | $184,385 |
| Investment income | $15,454 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,483,420 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,179,563 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $576,638 |
| Grants and other assistance to domestic individuals. | $1,690 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $142,300 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $645,391 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $41,482 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $82,519 |
| Fees for services: Accounting | $33,525 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $72,188 |
| Advertising and promotion | $148,315 |
| Office expenses | $77,357 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,375,454 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $61,405 |
| All other expenses | $15,191 |
| Total functional expenses | $9,207,623 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,234,535 |
| Savings and temporary cash investments | $10,688,331 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $84,663 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $102,096,542 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $114,104,071 |
| Accounts payable and accrued expenses | $921,075 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $113,594,285 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,853,583 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,680,326 |
| Total liabilities | $118,049,269 |
| Net assets without donor restrictions | -$3,945,198 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $114,104,071 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Louisiana At Lafayette Foundation Lafayette, LA | $292,703,277 | $46,235,918 |
Louisiana Tech University Foundation Inc Ruston, LA | $117,962,998 | $18,845,072 |
New Mexico State University Foundation Inc Las Cruces, NM | $355,498,587 | $111,307,691 |
America Can Cars For Kids Dallas, TX | $4,240,577 | $12,374,341 |
Friends Of Imagine International Academy Of North Texas Mckinney, TX | $32,038,501 | $13,231,420 |
Cynthia & Geo Mitchell Foundation The Woodlands, TX | $379,261,425 | $375,406 |
University Of Texas Law School Foundation Austin, TX | $263,458,115 | $22,437,207 |
Dallas Seminary Foundation Dallas, TX | $76,216,359 | $8,000,736 |
Sul Ross State University Foundation Alpine, TX | $1,687,998 | $1,230,429 |
University Of New Orleans Foundation New Orleans, LA | $129,213,862 | $21,783,517 |
Grambling High Foundation Grambling, LA | $36,491,619 | $11,923,300 |
University Of Houston Foundation Houston, TX | $176,095,945 | $16,062,659 |