Bloom Early Learning
- Assets
- $1.2m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 57
- Location
- Plymouth, MN
- Founding
- 09/1999
- Data as of
- 12/2023
- EIN
- 41-1939043
Organization Overview
Bloom Early Learning is located in Plymouth, MN. The organization was established in 1999. 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, Bloom Early Learning employed 57 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bloom Early Learning 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, Bloom Early Learning generated $2.6m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $2.5m during the year ending 12/2023. While expenses have increased by 8.4% per year over the past 5 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
BLOOM EARLY LEARNING PROVIDES EQUITABLE ACCESS TO EXCEPTIONAL EARLY LEARNING AND CARE SO THAT CHILDREN AND FAMILIES THRIVE AND FIND PATHWAYS OUT OF POVERTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BLOOM'S GOAL IS TO DEDICATE HALF OUR CAPACITY TO LOW-INCOME FAMILIES WHO OTHERWISE COULD NOT AFFORD HIGH QUALITY CHILDCARE AND EARLY LEARNING PROGRAMS. OUR SHIRLEY ROBINSON SCHOLARSHIP FUND PROVIDES TUITION ASSISTANCE TO THESE FAMILIES. WE ALSO HELP OUR QUALIFYING FAMILIES ACCESS GOVERNMENT RESOURCES AND OTHER COMMUNITY SUPPORT. CONFIDENT IN THEIR CHILD(REN)'S CARE, OUR PARENTS GO TO WORK OR SCHOOL TO BUILD GREATER FINANCIAL STABILITY FOR THEIR FAMILIES. WITH OUR PROVEN INFANT THROUGH PRE-K CURRICULUM, EXCEPTIONAL TEACHING STAFF, LOW CHILD-TO-ADULT RATIO AND NURTURING ENVIRONMENT, WE PREPARE ALL OUR CHILDREN FOR SUCCESS IN SCHOOL AND BEYOND. WE ARE ACCREDITED BY THE NATIONAL ASSOCIATION FOR THE EDUCATION OF YOUNG CHILDREN. BLOOM SERVED 101 CHILDREN IN 2023 AND 46 RECEIVED TUITION ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alysa Gardino Chair | OfficerTrustee | 3 | $0 |
Jason Iannazzo Treasurer | OfficerTrustee | 1 | $0 |
Kelsey Crowley Secretary | OfficerTrustee | 1 | $0 |
Sue Korsman Director | Trustee | 3 | $0 |
Penny Blankenship Director | Trustee | 1 | $0 |
Marc Christopherson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $280,888 |
| Related organizations | $0 |
| Government grants | $253,857 |
| All other contributions, gifts, grants, and similar amounts not included above | $310,917 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $845,662 |
| Total Program Service Revenue | $1,738,560 |
| Investment income | $17,893 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$9,603 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,597,371 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $493,293 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $95,394 |
| Compensation of current officers, directors, key employees. | $2,862 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,250,052 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $222,483 |
| Payroll taxes | $103,991 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $51,617 |
| 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 | $68,496 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $52,198 |
| 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 | $27,159 |
| Insurance | $12,886 |
| All other expenses | $131,343 |
| Total functional expenses | $2,508,912 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $307,835 |
| Savings and temporary cash investments | $295,511 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $42,820 |
| 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 | $7,124 |
| Net Land, buildings, and equipment | $172,454 |
| Investments—publicly traded securities | $390,332 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,216,076 |
| Accounts payable and accrued expenses | $96,098 |
| Grants payable | $0 |
| Deferred revenue | $76,070 |
| 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 | $0 |
| Total liabilities | $172,168 |
| Net assets without donor restrictions | $872,188 |
| Net assets with donor restrictions | $171,720 |
| 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 | $1,216,076 |