2024-11-15T11:35:53-06:00 2023-12-31 750786316 WEAVER AND TIDWELL LLP 2300 N FIELD ST STE 1000 DALLAS TX 75201 990 2023-01-01 843154132 THE CHILDREN'S EDUCATION INITIATIVE CHIL 8582003830 4747 EXECUTIVE DRIVE 210 SAN DIEGO CA 92121 MICHAEL HEARNE CFO, TREASURER, & SECRETARY 8582003830 2024-11-13 1 1 JUSTIN W REEVES P01248048 9724901970 2023 2024-10-15 13:58:12Z MICHAEL HEARNE 4747 EXECUTIVE DRIVE 210 SAN DIEGO CA 92121 8482245 0 X WWW.TCEI.ORG X 2019 CA THE CHILDREN'S EDUCATION INITIATIVE (TCEI) IS DEDICATED TO IMPROVING THE QUALITY OF EDUCATION FOR SOCIOECONOMICALLY DISADVANTAGED CHILDREN. 5 5 2 5 0 0 4701000 51000 0 0 693157 4731386 6951 0 5401108 4782386 0 1000000 0 0 0 231162 0 0 0 43309 116268 43309 1347430 5357799 3434956 105424764 105675647 1500 8705 105423264 105666942 THE CHILDREN'S EDUCATION INITIATIVE (TCEI) IS DEDICATED TO IMPROVING THE QUALITY OF EDUCATION FOR SOCIOECONOMICALLY DISADVANTAGED CHILDREN. 0 0 1244796 1000000 THE CHILDREN'S EDUCATION INITIATIVE (TCEI) PROVIDES FUNDS TO SELECTED PRIVATE SCHOOLS, WHICH ARE RECOGNIZED BY THE IRS AS TAX EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, FOR TUITION ASSISTANCE AND OTHER PROGRAMS FOR SOCIOECONOMICALLY DISADVANTAGED CHILDREN ACROSS THE U.S. 1244796 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 2 1 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 CA X MICHAEL HEARNE 8582003830 4747 EXECUTIVE DRIVE 210 SAN DIEGO CA 92121 X AARON DAVIS DIRECTOR 5.00 X 0 0 0 CRAIG JOHNSON DIRECTOR 5.00 X 0 0 0 ANDREW MCDONALD DIRECTOR 5.00 X 0 0 0 RODERICK WONG DIRECTOR 5.00 X 0 0 0 KEVIN TANG CEO, CHAIRMAN OF THE BOARD 10.00 X X 0 0 0 MICHAEL HEARNE CFO, TREASURER & SECRETARY 10.00 X 0 0 0 AJ YATES DIRECTOR, PROGRAMS 40.00 X 162941 0 4704 162941 0 4704 1 0 1 0 0 51000 51000 3027372 3027372 5403873 3699859 1704014 1704014 1704014 4782386 0 0 4731386 1000000 1000000 178735 173251 5484 5363 5198 165 26374 26374 20690 20199 491 3926 3926 12800 12800 1376 1376 16324 15894 430 13825 2130 11695 3419 374 3045 TRADING COMMISSION 54973 54973 CONSULTANT 2625 2625 ADMINISTRATIVE FEES 1929 1929 TRANSFER & BANK FEES 1712 1712 3359 3359 1347430 1244796 102634 0 636670 1859706 75554338 79092807 18600000 8850000 2450000 10159797 4700000 4700000 3483756 1013337 105424764 105675647 1500 3343 0 5362 1500 8705 X 105423264 105666942 105423264 105666942 105424764 105675647 3434956 -3191278 0 X X 0 1 X 1 0 X 38790595 50000000 2000000 4701000 51000 95542595 38790595 50000000 2000000 4701000 51000 95542595 43376592 52166003 11744 221124 334961 693157 4731387 5992373 726759 3431494 4158253 6951 6951 105700172 0.49350 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 ACCRUED COMPENSATION 5362 5362 X 1591109 -3191277 -3191277 4782386 0 4782386 1347430 0 1347430 0 1347430 PART X, LINE 2: TCEI WAS FORMED AS A CALIFORNIA NONPROFIT CORPORATION AND IS CLASSIFIED BY THE IRS AS A 501(C)(3) PUBLICLY SUPPORTED ORGANIZATION, WHICH MEANS THAT IT IS GENERALLY EXEMPT FROM BOTH FEDERAL AND STATE INCOME TAXES. INCOME, IF ANY, THAT IS DEEMED TO BE UNRELATED BUSINESS TAXABLE INCOME ("UBTI") IS SUBJECT TO FEDERAL AND STATE INCOME TAXES. UBTI IS OPERATIONAL INCOME THAT IS NOT RELATED TO THE TAX-EXEMPT PURPOSE OF THE ORGANIZATION. DIVIDENDS, INTEREST, CERTAIN OTHER INVESTMENT INCOME, ROYALTIES, CERTAIN RENTAL INCOME, CERTAIN INCOME FROM RESEARCH ACTIVITIES AND GAINS OR LOSSES FROM THE DISPOSITION OF PROPERTY ARE EXCLUDED WHEN COMPUTING UBTI. DONORS MAY DEDUCT CHARITABLE CONTRIBUTIONS TO TCEI UNDER THE INTERNAL REVENUE CODE SECTION 170(B)(1)(A)(VI). FOR UNCERTAIN TAX POSITIONS THAT MEET A "MORE LIKELY THAN NOT" THRESHOLD, TCEI RECOGNIZES THE BENEFIT OF UNCERTAIN TAX POSITIONS IN ITS FINANCIAL STATEMENTS. TCEI RECORDS INTEREST AND PENALTIES, IF ANY, RELATED TO UNCERTAIN TAX POSITIONS AS A COMPONENT OF INCOME TAX EXPENSE. DURING THE YEAR ENDED DECEMBER 31, 2023, TCEI DID NOT RECOGNIZE A PROVISION FOR INCOME TAXES. DURING THE YEAR ENDED DECEMBER 31, 2022, TCEI RECOGNIZED AN INCOME TAX BENEFIT RELATED TO REFUNDS FROM PRIOR YEARS OF $7,000. 1 ACADEMY HILL SCHOOL INC 1190 LIBERTY STREET SPRINGFIELD MA 01104 043016860 501(C)(3) 50000 0 SUPPORT DONATION CRANE COUNTY DAY SCHOOL 1795 SAN LEANDRO LANE SANTA BARBARA CA 93108 951643315 501(C)(3) 50000 0 SUPPORT DONATION HAWAII PREPARATORY ACADEMY 65-1692 KOHALA MOUNTAIN RD KAMUELA HI 96743 990078306 501(C)(3) 50000 0 SUPPORT DONATION HILLBROOK SCHOOL 300 MARCHMONT DR LOS GATOS CA 95032 940382325 501(C)(3) 50000 0 SUPPORT DONATION MARIN COUNTRY DAY SCHOOL 5221 PARADISE DRIVE CORTE MADERA CA 94925 941375791 501(C)(3) 350000 0 SUPPORT DONATION REDWOOD DAY SCHOOL 3245 SHEFFIELD AVE OAKLAND CA 94602 942289521 501(C)(3) 100000 0 SUPPORT DONATION THE BUSH SCHOOL 3400 E HARRISON ST SEATTLE WA 98112 910161095 501(C)(3) 100000 0 SUPPORT DONATION THE RIVIERA RIDGE SCHOOL 2130 MISSION RIDGE RD SANTA BARBARA CA 93103 237154063 501(C)(3) 50000 0 SUPPORT DONATION THE SEQUOYAH EDUCATIONAL CENTER 535 S PASADENA AVE PASADENA CA 91105 952022023 501(C)(3) 100000 0 SUPPORT DONATION TOWN SCHOOL FOR BOYS 2750 JACKSON ST SAN FRANCISCO CA 94115 941170412 501(C)(3) 50000 0 SUPPORT DONATION WESTSIDE NEIGHBORHOOD SCHOOL 5401 BEETHOVEN ST LOS ANGELES CA 90066 953551091 501(C)(3) 50000 0 SUPPORT DONATION 11 PART I, LINE 2: ALL RECIPIENTS OF TCEI GRANT FUNDS ARE SECTION 501(C)(3) INDEPENDENT SCHOOLS THAT ARE LOCATED SOLELY IN THE UNITED STATES. 0 0 0 0 0 0 0 1 0 AJ YATES DIRECTOR, PROGRAMS 127166 0 35775 0 0 0 4704 0 0 0 167645 0 0 0 PART I, LINE 7 TYPICALLY, EMPLOYEES ARE ELIGIBLE FOR AN ANNUAL TARGET BONUS BASED ON THE ORGANIZATION'S ABILITY TO REACH ANNUAL GOALS AS ESTABLISHED AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 2 MICHAEL HEARNE AND KEVIN TANG HAVE BUSINESS RELATIONSHIPS WITH EACH OTHER AND WITH AARON DAVIS AND CRAIG JOHNSON. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS EMAILED TO THE BOARD PRIOR TO FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ABSTAIN FROM DISCUSSION AND VOTING ON ANY MATTERS THAT MAY RESULT IN A CONFLICT OF INTEREST. IN ADDITION, EACH BOARD MEMBER IS REQUIRED TO COMPLETE AND SIGN A CONFLICT OF INTEREST STATEMENT PERIODICALLY. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: NO CHANGE TO THE AUDIT PROCEDURES OCCURRED DURING THE CURRENT YEAR.