Providers Choice Inc
- Assets
- $3.1m
- Revenue
- $28.2m
- Investments
- $0.0
- Employees
- 41
- Location
- Minneapolis, MN
- Founding
- 04/1985
- Data as of
- 09/2023
- EIN
- 36-3347057
Organization Overview
Providers Choice Inc is located in Minneapolis, MN. The organization was established in 1985. According to its NTEE Classification (P33) the organization is classified as: Child Day Care, under the broad grouping of Human Services and related organizations. As of 09/2023, Providers Choice Inc employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Providers Choice 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 09/2023, Providers Choice Inc generated $28.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $28.1m during the year ending 09/2023. While expenses have increased by 0.8% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ADMINISTER THE CHILD AND ADULT CARE FOOD PROGRAM AND SUPPORT CHILD CARE FACILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN FISCAL YEAR 2023, PROVIDERS CHOICE SPONSORSHIP OF THE CHILD AND ADULT CARE FOOD PROGRAM SUPPORTED CHILD CARE PROVIDERS TO SERVE OVER 14 MILLION MEALS AND SNACKS ACROSS THE STATE OF MINNESOTA. PROVIDERS CHOICE SPONSORED 2,950 FAMILY DAY CARE HOME PROGRAMS (A DECLINE OF 5.7% FROM THE PREVIOUS YEAR) THAT SERVED 48,692 CHILDREN. OF THESE FAMILY DAY CARE HOMES, 60% OF THESE PROGRAMS QUALIFIED FOR TIER 1 RATES WHILE THE REMAINING 40% QUALIFIED FOR TIER 2 RATES. FROM OCTOBER 1, 2022 THROUGH JUNE 30, 2023 ALL PROVIDERS CONTINUED TO BE PAID AT THE TIER 1 REIMBURSEMENT RATE DUE TO A UNITED STATES DEPARTMENT OF AGRICULTURE (USDA) FOOD AND NUTRITION SERVICES (FNS) WAIVER. IN JULY 2023, TIERING REIMBURSEMENT RATES RESUMED WHICH WAS A PARTIAL CAUSE, ALONG WITH CHILD CARE PROVIDERS LEAVING THE BUSINESS OF CHILD CARE, TO THE DECLINE IN FDCH PROVIDERS. PROVIDERS CHOICE SPONSORED 84 CHILD CARE CENTER PROGRAMS (A 34% INCREASE FROM THE PREVIOUS YEAR) THAT SERVED 10,173 CHILDREN. OF THE CHILDREN ENROLLED IN CHILD CARE CENTER PROGRAMS, 61% OF THESE CHILDREN QUALIFIED FOR FREE MEAL PRICE REIMBURSEMENT, 3% QUALIFIED FOR REDUCED MEAL PRICE REIMBURSEMENT AND 36% QUALIFIED FOR PAID MEAL PRICE REIMBURSEMENT BASED ON INCOME ELIGIBILITY.
PROVIDERS CHOICE COMPLETED YEAR TWO OF OUR CARGILL FOUNDATION GRANT, "SHAPING HEALTHFUL EATING HABITS AND NUTRITION AWARENESS THROUGH PARTICIPATION IN THE CHILD AND ADULT CARE FOOD PROGRAM (CACFP)." THROUGH THIS GRANT, PROVIDERS CHOICE SUPPORTED OVER SEVEN THOUSAND CHILDREN IN THE SPAN OF THE TWO-YEAR GRANT TO INCREASE ACCESS TO HEALTHY MEALS AND SNACKS. IN JULY OF 2023, PROVIDERS CHOICE WAS AWARDED A TWO YEAR GRANT FROM THE CARGILL FOUNDATION FOR $200,000, "GROWING HEALTHY COMMUNITIES: BUILDING NUTRITION KNOWLEDGE FOR SUCCESS IN THE CHILD AND ADULT CARE FOOD PROGRAM "CACFP". THIS GRANT BUILDS ON OUR PREVIOUS GRANT WHILE ALSO FOCUSING ON NUTRITION EDUCATION. PROVIDERS CHOICE SUCCESSFULLY HELD OUR VIRTUAL GATHER AND GROW CONFERENCE, A CONTINUING EDUCATION CONFERENCE FOR CHILD CARE PROVIDERS, 232 PROVIDERS ATTENDED IN JANUARY 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gail Birch Chair | OfficerTrustee | 1 | $0 |
Paul Pelletier Secretary/treasurer | OfficerTrustee | 1 | $0 |
Illeme Amegatcher Board Member | Trustee | 1 | $0 |
Byron Dejesus Board Member | Trustee | 1 | $0 |
Marko Mrkonich Board Member | Trustee | 1 | $0 |
Kathleen Abernathy CEO | Officer | 40 | $142,879 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $27,965,984 |
| All other contributions, gifts, grants, and similar amounts not included above | $201,833 |
| Noncash contributions included in lines 1a–1f | $500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,167,817 |
| Total Program Service Revenue | $5,725 |
| Investment income | $0 |
| 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 | $28,173,542 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $25,011,269 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $289,050 |
| Compensation of current officers, directors, key employees. | $5,781 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,609,040 |
| Pension plan accruals and contributions | $39,594 |
| Other employee benefits | $229,554 |
| Payroll taxes | $139,281 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $46,583 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $306,441 |
| Advertising and promotion | $0 |
| Office expenses | $122,565 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $83,880 |
| Travel | $122,486 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,717 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,693 |
| Insurance | $5,804 |
| All other expenses | $6,726 |
| Total functional expenses | $28,053,683 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $696,715 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,236,358 |
| 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 | $21,020 |
| Net Land, buildings, and equipment | $29,201 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $147,073 |
| Total assets | $3,130,367 |
| Accounts payable and accrued expenses | $372,670 |
| Grants payable | $1,863,533 |
| Deferred revenue | $18,100 |
| 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 | $177,205 |
| Total liabilities | $2,431,508 |
| Net assets without donor restrictions | $498,469 |
| Net assets with donor restrictions | $200,390 |
| 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 | $3,130,367 |