Academy Child Development Center Inc
- Assets
- $3.2m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 57
- Location
- Gaithersburg, MD
- Founding
- 01/1982
- Data as of
- 12/2022
- EIN
- 52-1228660
Organization Overview
Academy Child Development Center Inc is located in Gaithersburg, MD. The organization was established in 1982. 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 12/2022, Academy Child Development Center Inc employed 57 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Academy Child Development Center 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 12/2022, Academy Child Development Center Inc generated $2.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.5%) each year. All expenses for the organization totaled $2.6m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (7.8%) per year over the past 6 years. 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
THE ACADEMY STRIVES TO REMAIN AN INNOVATOR IN THE FIELD OF EDUCATIONAL CHILDCARE AND PRESCHOOL-PRIMARY SCHOOL PROGRAMMING. WE ARE HIGHLY RECOGNIZED AS PROVIDING THE HIGHEST QUALITY LEVEL OF LICENSED AND MONITORED CHILD CARE AND EDUCATION FOR CHILDREN AGES 2 MONTHS THROUGH SCHOOL-AGE AND FOR THE VARIOUS CULTURES AND ECONOMIC BACKGROUNDS OF THE FAMILIES IN MONTGOMERY COUNTY. OUR MISSION AND PURPOSE ARE: TO OFFER DEVELOPMENTALLY APPROPRIATE EARLY CHILDHOOD/SCHOOL AGE PROGRAMS; TO PROVIDE SAFE, HEALTHY, AND RELIABLE CHILD CARE OPTIONS FOR WORKING PARENTS; TO MAINTAIN A DEDICATED, PROFESSIONAL STAFF THROUGH COMPETITIVE SALARIES, BENEFITS AND ONGOING PROFESSIONAL DEVELOPMENT TRAINING; TO DEVELOP AND MAINTAIN PARTNERSHIPS WITH PARENTS, STAFF, COMMUNITY, LOCAL, STATE, AND NATIONAL ORGANIZATIONS; TO ACHIEVE AND MAINTAIN THE HIGHEST LEVELS OF EXCELS RATINGS IN THE STATE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HIGH QUALITY DAYCARE/EDUCATION SERVICES TO APPROXIMATELY 190 CHILDREN IN MONTGOMERY COUNTY, MARYLAND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lesley Walsh-Everhart President | OfficerTrustee | 40 | $118,138 |
Debora Sullivan Director | Trustee | 30 | $41,609 |
Naushaba Bokhari Director | Trustee | 33 | $63,452 |
Jody Burghardt Director | Trustee | 0.01 | $0 |
Aileen Walsh Director | Trustee | 0.01 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $583,289 |
| 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 | $583,289 |
| Total Program Service Revenue | $1,814,641 |
| Investment income | $59,577 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$23,002 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,883,578 |
| 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. | $238,674 |
| Compensation of current officers, directors, key employees. | $119,337 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,600,443 |
| Pension plan accruals and contributions | $15,609 |
| Other employee benefits | $51,410 |
| Payroll taxes | $136,323 |
| Fees for services: Management | $3,636 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,095 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $14,584 |
| Fees for services: Other | $62,312 |
| Advertising and promotion | $28,912 |
| Office expenses | $30,729 |
| Information technology | $16,627 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $395 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,491 |
| Interest | $29,845 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,328 |
| Insurance | $45,517 |
| All other expenses | $15,383 |
| Total functional expenses | $2,575,052 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $627,732 |
| Savings and temporary cash investments | $31,589 |
| 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 | $203,269 |
| Investments—publicly traded securities | $1,673,018 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $630,022 |
| Total assets | $3,165,630 |
| Accounts payable and accrued expenses | $0 |
| 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 | $455,205 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $47,665 |
| Total liabilities | $502,870 |
| Net assets without donor restrictions | $0 |
| 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 | $2,662,760 |
| Total liabilities and net assets/fund balances | $3,165,630 |