Little Lighthouse Learning Center
- Assets
- $457.7k
- Revenue
- $748.8k
- Investments
- $0.0
- Employees
- 18
- Location
- Lorain, OH
- Founding
- 05/2004
- Data as of
- 12/2022
- EIN
- 34-1939330
Organization Overview
Little Lighthouse Learning Center is located in Lorain, OH. The organization was established in 2004. According to its NTEE Classification (B21) the organization is classified as: Preschools, under the broad grouping of Education and related organizations. As of 12/2022, Little Lighthouse Learning Center employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Little Lighthouse Learning Center 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 12/2022, Little Lighthouse Learning Center generated $748.8k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $569.2k during the year ending 12/2022. While expenses have increased by 2.5% per year over the past 4 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
TO PROVIDE QUALITY PRESCHOOL, CHILD CARE AND SCHOOL AGE CARE TO CHILDREN AGES 2 1/2 THROUGH 11.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE EARLY LEARNING OPPORTUNITIES AND CHILD CARE FOR ALL CHILDREN IN LORAIN COUNTY, INCLUDING SCHOOL AGE CHILD CARE AND SUMMER CAMP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda M West Asst Director | Trustee | 40 | $39,520 |
Palma Stipe Executive Dir. | Trustee | 40 | $34,647 |
Johnna Lyman Trustee | Trustee | 0.5 | $0 |
Sheila Evenchik Secretary | Officer | 0.5 | $0 |
Michael Ferrer President | Officer | 0.5 | $0 |
Kim Laurenti Trustee | Officer | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $522,364 |
| All other contributions, gifts, grants, and similar amounts not included above | $160,415 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $682,779 |
| Total Program Service Revenue | $61,201 |
| Investment income | $21 |
| 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 | $1,381 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $748,787 |
| 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. | $94,257 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $287,774 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $38,278 |
| Fees for services: Management | $13,668 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,143 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $130 |
| Office expenses | $7,753 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $60,686 |
| 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 | $6,605 |
| Insurance | $4,174 |
| All other expenses | $4,419 |
| Total functional expenses | $569,238 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $134,245 |
| Savings and temporary cash investments | $278,628 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $40,864 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,000 |
| Total assets | $457,737 |
| Accounts payable and accrued expenses | $16,869 |
| 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 | $0 |
| Other liabilities | $2 |
| Total liabilities | $16,871 |
| Net assets without donor restrictions | $440,866 |
| 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 | $457,737 |