Hope For Kids Childcare Center
- Assets
- $234.0k
- Revenue
- $647.2k
- Investments
- $0.0
- Employees
- 43
- Location
- Duluth, MN
- Founding
- Data as of
- 12/2021
- EIN
- 84-2085610
Organization Overview
Hope For Kids Childcare Center is located in Duluth, MN. 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, Hope For Kids Childcare Center employed 43 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope For Kids Childcare Center 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, Hope For Kids Childcare Center generated $647.2k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 60.5% each year . All expenses for the organization totaled $631.8k during the year ending 12/2021. While expenses have increased by 57.8% per year over the past 2 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AN EXCEPTIONAL, SAFE, CARING ENIRONMENT THAT CREATES AN ENTHUSIASM IN CHILDREN FOR LIFELONG LEARNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THIS IS A FULL-SERVICE CHILDCARE CENTER, WHICH BEGAN IN THE FALL OF 2019, OFFERED CHILDCARE TO 8 INFANTS, 25 TODDLERS AND 30 PRE-SCHOOLERS. THE PROGRAM HAS 60 FTE'S WITH SOME PART-TIME CHILDREN ATTENDING AND CAN SERVICE UP TO 66 CHILDREN INCLUDING THE 8 INFANTS. THE CHILDCARE CENTER CURRENTY EMPLOYS 18 FULL AND PART-TIME PEOPLE WITH AN ANNUAL PAYROLL INCLUDING BENEFITS OF 411,000. THE PRIMARY SERVICE AREA IS THE METROPOLITAN AREA OF DULUTH, MN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marcia Demeo-Morse Executive Di | Trustee | 40 | $39,990 |
Michelle Bowker Treasurer | OfficerTrustee | 1 | $0 |
Marcus Karki Chairman | OfficerTrustee | 1 | $0 |
Robert West Board | Trustee | 1 | $0 |
Peter Bergman Board | Trustee | 1 | $0 |
Suzanne Kelly Board | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $68,690 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $68,690 |
| Total Program Service Revenue | $578,502 |
| Investment income | $3 |
| 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 | $647,195 |
| 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. | $39,990 |
| Compensation of current officers, directors, key employees. | $19,995 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $348,332 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,670 |
| Payroll taxes | $34,152 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,292 |
| Fees for services: Accounting | $4,995 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,285 |
| Advertising and promotion | $966 |
| Office expenses | $657 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $48,000 |
| Travel | $380 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,046 |
| Interest | $7,718 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,063 |
| Insurance | $6,840 |
| All other expenses | $13,579 |
| Total functional expenses | $631,779 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,164 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,279 |
| 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 | $186,604 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $234,047 |
| Accounts payable and accrued expenses | $1,695 |
| 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 | $192,329 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $194,024 |
| Net assets without donor restrictions | $40,023 |
| 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 | $234,047 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Hope For Kids Childcare Center has recieved totaling $16,662.
| Awarding Organization | Amount |
|---|---|
Northland Foundation Duluth, MN PURPOSE: TO PROVIDE FINANCIAL SUPPORT TO BUSINESSES ADVERSELY IMPACTED BY THE COVID-19 PANDEMIC. | $9,162 |
Northland Foundation Duluth, MN PURPOSE: TO PROVIDE WRAP-AROUND EARLY CARE AND EDUCATION SERVICES FOR YOUNG CHILDREN, AGES 0-8, IMPACTED BY THE COVID-19 PANDEMIC. | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Think Small Saint Paul, MN | $8,024,590 | $30,547,585 |
Providers Choice Inc Minneapolis, MN | $4,205,480 | $24,736,652 |
Child Care Resource And Referral Inc Rochester, MN | $8,853,289 | $18,520,404 |
Children And Families Of Iowa Des Moines, IA | $18,712,609 | $16,514,094 |
Encompass Early Education And Care Inc Green Bay, WI | $8,419,390 | $8,397,899 |
St Joseph Academy Inc Milwaukee, WI | $7,083,434 | $6,157,567 |
Apple Tree Childrens Center Inc Sioux Falls, SD | $1,444,278 | $5,832,493 |
Wisconsin Youth Company Inc Madison, WI | $3,766,489 | $5,762,746 |
Ebenezer Child Care Centers Inc West Allis, WI | $4,255,096 | $4,885,385 |
Milestones Programs For Children Inc Milwaukee, WI | $3,473,395 | $4,940,106 |
Community United Child Care Centers Inc Cedar Falls, IA | $5,039,004 | $5,135,124 |
Charlie Brown Community Day Care Center Mason City, IA | $5,429,986 | $4,997,843 |