Kids Korner Educare Centers Inc
- Assets
- $2.0m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 98
- Location
- Owatonna, MN
- Founding
- 10/1996
- Data as of
- 12/2023
- EIN
- 41-1753745
Organization Overview
Kids Korner Educare Centers Inc is located in Owatonna, MN. The organization was established in 1996. 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 12/2023, Kids Korner Educare Centers Inc employed 98 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kids Korner Educare Centers 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 12/2023, Kids Korner Educare Centers Inc generated $2.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $2.4m during the year ending 12/2023. While expenses have increased by 4.3% per year over the past 9 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
CARE FOR CHILDREN TO ENABLE INDIVIDUALS TO BE GAINFULLY EMPLOYED
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE THE STRENGTHENING OF THE FAMILY UNITY BY CREATING A SAFE, SUPPORTIVE, AND NURTURING ENVIRONMENT THAT OFFERS DAYTIME CARE, EDUCATION, HEALTH, NUTRITION, DEVELOPMENTAL SERVICES AND CHARACTER DEVELOPMENT TO APPROXIMATELY 245 CHILDREN FROM 180 DIFFERENT FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ryan Abraham Board Chair | OfficerTrustee | 0.75 | $0 |
Nikki Letona Treasurer | OfficerTrustee | 0.75 | $0 |
Jill Gannon Secretary | OfficerTrustee | 0.75 | $0 |
Kendra Rowan Director | Trustee | 0.75 | $0 |
Ryan Thorson Director | Trustee | 0.75 | $0 |
Brent Smisek Director | Trustee | 0.75 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $133 |
| Related organizations | $0 |
| Government grants | $214,769 |
| 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 | $214,902 |
| Total Program Service Revenue | $2,251,479 |
| Investment income | $127 |
| 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 | $2,485,391 |
| 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. | $186,881 |
| Compensation of current officers, directors, key employees. | $108,158 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,448,452 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,054 |
| Payroll taxes | $123,922 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $400 |
| Fees for services: Accounting | $11,103 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,470 |
| Advertising and promotion | $8,352 |
| Office expenses | $5,665 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $121,689 |
| Travel | $2,175 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,256 |
| Interest | $12,098 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $73,033 |
| Insurance | $113,233 |
| All other expenses | $506 |
| Total functional expenses | $2,408,410 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $56,161 |
| Savings and temporary cash investments | $384,271 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $46,160 |
| 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 | $3,906 |
| Net Land, buildings, and equipment | $1,478,897 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,711 |
| Total assets | $1,984,106 |
| Accounts payable and accrued expenses | $88,199 |
| 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 | $457,608 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,811 |
| Total liabilities | $557,618 |
| Net assets without donor restrictions | $1,426,488 |
| 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 | $1,984,106 |