Preschool Advantage Inc

Organization Overview

Preschool Advantage Inc is located in Morristown, NJ. The organization was established in 1995. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2021, Preschool Advantage Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Preschool Advantage 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 12/2021, Preschool Advantage Inc generated $874.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $891.2k during the year ending 12/2021. While expenses have increased by 9.7% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO FUND TUITIONS TO PRESCHOOLS FOR LOW INCOME FAMILIES IN MORRIS AND SOMERSET COUNTY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PRESCHOOL ASSISTANCE: THE FIRST YEARS OF A CHILD'S LIFE ARE CRITICAL TO LAYING THE FOUNDATION FOR A LIFETIME LOVE OF LEARNING. EARLY CHILDHOOD EDUCATION SETS THE STAGE FOR FUTURE GROWTH AND PROPELS CHILDREN ONTO THEIR EDUCATIONAL PATHS. DESPITE THE UNDENIABLE IMPORTANCE OF A SOLID EDUCATIONAL START, MANY LOCAL CHILDREN HAVE NO MEANS TO ATTEND PRESCHOOL. PRESCHOOL ADVANTAGE SERVES THE POPULATION OF STRUGGLING FAMILIES WHO DO NOT QUALIFY FOR GOVERNMENT FUNDED PROGRAMS BECAUSE THEY EARN ABOVE THE POVERTY LEVEL, BUT ARE STILL EARNING BELOW THE LEVEL OF SUSTAINABILITY FOR OUR REGION. THESE FAMILIES SIMPLY CANNOT AFFORD THE COST OF A PRESCHOOL FOR THEIR CHILD THUS HINDERING THE CHILD'S SUCCESS AND OPPORTUNITIES LATER IN LIFE. THE LACK OF SOURCES OF ASSISTANCE FOR WORKING FAMILIES UNABLE TO SUPPORT THE COST OF PRESCHOOL LED TO THE FOUNDING OF PRESCHOOL ADVANTAGE IN MORRISTOWN IN 1995. TO DATE, WE HAVE FUNDED ALMOST 1,750 HALF-DAY PRESCHOOL TUITIONS FOR OVER 1,300 CHILDREN.


Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.

Board, Officers & Key Employees

Name (title)Compensation
Nancy Bangiola
Executive Director
$83,870
Adrienne Kirby
President
$0
Ray Hawkins
Treasurer
$0
Bette Simmons
Vice President
$0
Gail Reuther
Secretary
$0
Carolyn Simpson
Vice President
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$288,263
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$522,290
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$810,553
Total Program Service Revenue$0
Investment income $26,011
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $19,240
Net Income from Fundraising Events $0
Net Income from Gaming Activities $18,385
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $874,189

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Preschool Advantage Inc has recieved totaling $50,000.

Awarding OrganizationAmount
Rochkind Wagner Foundation

Morristown, NJ

PURPOSE: TUITION SCHOLARSHIPS FOR PRESCHOOL PROGRAMS

$50,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$1,166,824
Earnings$142,429
Ending Balance$1,309,253

Create an account to unlock the data you need.

or