Marc Academy & Family Center Inc
- Assets
- $5.9m
- Revenue
- $7.1m
- Investments
- $0.0
- Employees
- 47
- Location
- Bronx, NY
- Founding
- 07/1998
- Data as of
- 06/2022
- EIN
- 13-3966229
Organization Overview
Marc Academy & Family Center Inc is located in Bronx, NY. The organization was established in 1998. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2022, Marc Academy & Family Center Inc employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marc Academy & Family Center Inc 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 06/2022, Marc Academy & Family Center Inc generated $7.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $6.9m during the year ending 06/2022. While expenses have increased by 9.1% per year over the past 7 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
MARC ACADEMY AND FAMILY CENTER HELPS CHILDREN OVERCOME OBSTACLES AND ACHIEVE THEIR FULL POTENTIAL, THROUGH PROGRAMS THAT NURTURE, EMPOWER AND INVEST IN BOTH THEM AND THEIR FAMILIES FOR A LIFETIME OF LEARNING AND SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MARC ACADEMY AND FAMILY CENTER SERVES AS A SPONSORING AGENCY TO A FAMILY CHILD CARE NETWORK. AS A FAMILY CHILD CARE NETWORK MARC ACADEMY AND FAMILY CENTER IS CONTRACTED WITH DOE TO OFFER SERVICES TO PROVIDE EARLY CARE AND EDUCATION TO 434 CHILDREN FROM 2 MONTHS OF AGE TO 3 YEARS OF AGE. PRESENTLY, MARC ACADEMY'S FAMILY CHILD CARE NETWORK HAS CONTRACTED WITH 37 DULY LICENSED FCC PROVIDERS TO PROVIDE SERVICES TO FAMILIES AND CHILDREN. CHILDREN ENROLLED IN THE FCC NETWORK RECEIVE UP TO 10 HOURS OF CARE DAILY, FIVE DAYS A WEEK, 12 MONTHS A YEAR.
CENTER BASED CACFP FOOD PROGRAM ; UPK ENHANCEMENT PROGRAM AND FAMILY CHILD CARE NETWORK (FCCN) CACFP FOOD PROGRAM
MARC ACADEMY AND FAMILY CENTER SERVES AS A SPONSORING AGENCY TO A FAMILY CHILD CARE NETWORK. AS A FAMILY CHILD CARE NETWORK MARC ACADEMY AND FAMILY CENTER IS CONTRACTED WITH DOE TO OFFER SERVICES TO PROVIDE EARLY CARE AND EDUCATION TO 434 CHILDREN FROM 2 MONTHS OF AGE TO 3 YEARS OF AGE. PRESENTLY, MARC ACADEMY'S FAMILY CHILD CARE NETWORK HAS CONTRACTED WITH 37 DULY LICENSED FCC PROVIDERS TO PROVIDE SERVICES TO FAMILIES AND CHILDREN. CHILDREN ENROLLED IN THE FCC NETWORK RECEIVE UP TO 10 HOURS OF CARE DAILY, FIVE DAYS A WEEK, 12 MONTHS A YEAR.
CENTER BASED CACFP FOOD PROGRAM ; UPK ENHANCEMENT PROGRAM AND FAMILY CHILD CARE NETWORK (FCCN) CACFP FOOD PROGRAM
MARC ACADEMY PROVIDES EARLY CHILDHOOD EDUCATION SERVICES TO 278 CHILDREN: 93 @ 55 E 175TH ST AND 185 @ WEBSTER AVE. CHILDRENS SERVED ARE 3 AND 4 YEARS OF AGE. THE NYC BOARD OF EDUCATION NYC BOE) SUBSIDIZES PARTICIPATION OF THOSE CHILDREN WHO HAVE QUALIFIED AS DUAL-ELIGIBLE, OR CHILD CARE. CHILDREN ENROLLED IN THE PROGRAM RECEIVE 10 HOURS OF SERVICES, FIVE DAYS A WEEK, TWELVE MONTHS A YEAR.
MARC ACADEMY PROVIDES EARLY CHILDHOOD EDUCATION SERVICES TO 278 CHILDREN: 93 @ 55 E 175TH ST AND 185 @ WEBSTER AVE. CHILDRENS SERVED ARE 3 AND 4 YEARS OF AGE. THE NYC BOARD OF EDUCATION NYC BOE) SUBSIDIZES PARTICIPATION OF THOSE CHILDREN WHO HAVE QUALIFIED AS DUAL-ELIGIBLE, OR CHILD CARE. CHILDREN ENROLLED IN THE PROGRAM RECEIVE 10 HOURS OF SERVICES, FIVE DAYS A WEEK, TWELVE MONTHS A YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tai Bolarinwa Chairman (jan-May 2021) | OfficerTrustee | 4 | $0 |
Gregory Downes Chairman (june 21 - Current) | OfficerTrustee | 4 | $0 |
Lloyd Dawkins Member | Trustee | 2 | $0 |
Violet Dawkins Member | Trustee | 2 | $0 |
William Mclean Tresurer | Trustee | 2 | $0 |
Sharon Higgins Secretary (june 2021- Current) | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,028,086 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,028,086 |
| Total Program Service Revenue | $75,508 |
| Investment income | $54 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $7,108,499 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $409,271 |
| Compensation of current officers, directors, key employees. | $409,271 |
| Compensation to disqualified persons | $2,271,867 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $497,803 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $401,438 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $36,000 |
| All other expenses | $572,802 |
| Total functional expenses | $6,873,551 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $910,001 |
| Savings and temporary cash investments | $250,309 |
| Pledges and grants receivable | $4,484,788 |
| Accounts receivable, net | $0 |
| 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 | $64,994 |
| Net Land, buildings, and equipment | $164,640 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,638 |
| Total assets | $5,901,370 |
| Accounts payable and accrued expenses | $524,396 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $3,332,359 |
| Other liabilities | $0 |
| Total liabilities | $3,856,755 |
| Net assets without donor restrictions | $2,044,615 |
| 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 | $5,901,370 |