Bright Futures Early Learning Center Inc
- Assets
- $571.2k
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 35
- Location
- Springfield, MA
- Founding
- 06/2018
- Data as of
- 12/2023
- EIN
- 82-1978704
Organization Overview
Bright Futures Early Learning Center Inc is located in Springfield, MA. The organization was established in 2018. According to its NTEE Classification (B21) the organization is classified as: Preschools, under the broad grouping of Education and related organizations. As of 12/2023, Bright Futures Early Learning Center Inc employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bright Futures Early Learning 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 12/2023, Bright Futures Early Learning Center Inc generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.4% each year . All expenses for the organization totaled $1.6m during the year ending 12/2023. While expenses have increased by 13.3% per year over the past 6 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
OPERATE AN EARLY EDUCATION CENTER FOCUSED ON EXPLORATION, IMAGINATION, AND LEARNING
Describe the Organization's Program Activity:
Part 3 - Line 4a
EARLY EDUCATIONAL INSTRUCTION- THERE ARE FOUR DIFFERENT AGE GROUPS SERVED:INFANT, TODDLER, PRESCHOOL, AND SCHOOL-AGE. INFANT: PROVIDES A LOVING, NURTURING ENVIRONMENT THAT HELPS PROMOTE A FEELING OF BELONGING AND PROMOTES DEVELOPMENT TOWARDS THE CHILD'S FULL POTENTIAL. TODDLER:PROVIDES A WIDE RANGE OF STIMULATING EXPERIENCES THAT RESPOND TO AND EXPAND A CHILD'S NATURAL INQUISITIVENESS. PRESCHOOL: PREPARES CHILDREN SOCIALLY AND ACADEMICALLY FOR KINDERGARTEN, WHILE SUPPORTING AND ENCORAGING THE DEVELOPMENT OF INDEPENDENCE, RESPONSIBILITY AND CONFIDENCE SKILLS THAT AREESSENTIAL TO A CHILD'S ONGOING SUCCESS. SCHOOL-AGE: PROVIDES A SAFE AND SOCIAL ENVIRONMENT WHEN SCHOOL IS NOT IN SESSION THAT SUPPORTS AND ENCOURAGES ACADEMIC DEVELOPMENT ESSENTIAL TO A CHILD'S CONTINUING EDUCATION. AT EACH AGE GROUP, WE PARTNER WITH MASON WRIGHT SENIOR LIVING, INC., A RELATED 501(C)(3) PUBLIC CHARITY. TO BRING INTERGENERATIONAL OPPORTUNITIES THAT ENGAGE SENIORS IN THE CHILDREN'S LEARNING AND EXPERIENCES TO THE BENEFIT OF ALL INVOLVED.TOTAL CAPACITY OF THE CENTER IS 103 CHILDREN; IN 2023, AN AVERAGE OF 85 CHILDREN WERE EDUCATED WEEKLY.
AUXILIARY SERVICES - TRANSPORTATION TO AND FROM THE CENTER AND DAILY MEALS PROVIDED TO CHILDREN. THE CENTER PROVIDED 12,428 TRANSPORTATION DAYS, WITH AN AVERAGE OF 53 STUDENTS PARTAKING, OR 62% OF OUR ENROLLMENT. TOTAL BREAKFAST, LUNCH AND SNACK MEALS SERVED DURING THE YEAR WERE 43,293 WITH ALL CHILDREN, IN ATTENDANCE, PARTICIPATING OR AN AVERAGE OF 184 MEALS/DAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Popp President & CEO | OfficerTrustee | 5 | $27,297 |
William Hawkins Chief Financial Officer | Officer | 6 | $26,886 |
John Morse Chair | OfficerTrustee | 1 | $0 |
Allison Ebner Vice President | OfficerTrustee | 1 | $0 |
Jeff Sattler Treasurer | OfficerTrustee | 1 | $0 |
Susan Mccoy ESQ Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $15,152 |
| Government grants | $344,054 |
| 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 | $359,206 |
| Total Program Service Revenue | $1,465,180 |
| Investment income | $1,985 |
| 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 | $1,830,015 |
| 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. | $59,626 |
| Compensation of current officers, directors, key employees. | $29,520 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $799,661 |
| Pension plan accruals and contributions | $3,106 |
| Other employee benefits | $45,208 |
| Payroll taxes | $79,366 |
| Fees for services: Management | $94,075 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,618 |
| Advertising and promotion | $14,886 |
| Office expenses | $38,627 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $51,978 |
| 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 | $61,413 |
| Insurance | $19,131 |
| All other expenses | $0 |
| Total functional expenses | $1,586,431 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,806 |
| Savings and temporary cash investments | $141,985 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $110,115 |
| 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 | $14,159 |
| Net Land, buildings, and equipment | $130,973 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $124,136 |
| Total assets | $571,174 |
| Accounts payable and accrued expenses | $72,633 |
| Grants payable | $0 |
| Deferred revenue | $1,542 |
| 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 | $24,393 |
| Total liabilities | $98,568 |
| Net assets without donor restrictions | $472,606 |
| 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 | $571,174 |