Academy Child Development Center Inc
- Assets
- $3.8m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 57
- Location
- Gaithersburg, MD
- Founding
- 01/1982
- Data as of
- 12/2021
- 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 12/2021, 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 12/2021, Academy Child Development Center Inc generated $2.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.8%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (10.1%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ACADEMY STRIVES TO REMAIN AN INNOVATOR IN THE FIELD OF EDUCATIONAL CHILD CARE AND PRESCHOOL-PRIMARY SCHOOL PROGRAMMING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HIGH QUALITY DAYCARE/EDUCTAION 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 | $90,276 |
Naushaba Bokhari Director | Trustee | 33.5 | $54,562 |
Debora Sullivan Secretary | OfficerTrustee | 40 | $37,876 |
Bruce Kahan Vice President | OfficerTrustee | 40 | $30,690 |
Marilyn Fleetwood Director | Trustee | 1.25 | $12,307 |
Aileen Walsh Director | Trustee | 1.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $915,553 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,645 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $917,198 |
| Total Program Service Revenue | $1,226,054 |
| Investment income | $92,943 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$587,909 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,092,286 |
| 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. | $254,326 |
| Compensation of current officers, directors, key employees. | $127,163 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $864,406 |
| Pension plan accruals and contributions | $9,831 |
| Other employee benefits | $21,069 |
| Payroll taxes | $119,215 |
| Fees for services: Management | $2,424 |
| Fees for services: Legal | $3,000 |
| Fees for services: Accounting | $13,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,174 |
| Fees for services: Other | $80,784 |
| Advertising and promotion | $1,643 |
| Office expenses | $21,018 |
| Information technology | $19,030 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $126 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,369 |
| Interest | $27,800 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,093 |
| Insurance | $52,589 |
| All other expenses | $165,444 |
| Total functional expenses | $1,888,003 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $686,956 |
| Savings and temporary cash investments | $46,219 |
| 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 | $219,597 |
| Investments—publicly traded securities | $2,057,990 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $784,894 |
| Total assets | $3,795,656 |
| 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 | $516,583 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $509,532 |
| Total liabilities | $1,026,115 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $3,795,656 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Academy Child Development Center Inc has recieved totaling $16,497.
| Awarding Organization | Amount |
|---|---|
Greater Washington Community Foundation Washington, DC PURPOSE: GENERAL SUPPORT | $16,497 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
River Valley Child Development Services Huntington, WV | $6,974,645 | $16,881,683 |
Georgetown Hill Child Care Center Inc Montgomery Village, MD | $9,950,402 | $20,593,536 |
Centronia Washington, DC | $17,606,173 | $16,952,822 |
The Childrens Center Franklin, VA | $3,548,502 | $14,069,816 |
Lehigh Valley Childrens Centers Inc Allentown, PA | $14,112,341 | $13,366,940 |
League On Social Services Inc Family Day Care Program Hyde, PA | $1,090,310 | $11,061,373 |
Campagna Center Inc Alexandria, VA | $7,278,188 | $13,190,790 |
Ahold Delhaize Usa Family Foundation Inc Carlisle, PA | $12,628,816 | $12,963,322 |
Child Care Resources Inc Richmond, VA | $3,029,926 | $11,141,593 |
Learn & Play Fort Washington, PA | $20,169,763 | $14,001,464 |
Federation Day Care Services Philadelphia, PA | $6,192,299 | $8,469,963 |
Kids After Hours Child Care Centers Rockville, MD | $714,700 | $7,688,874 |