Hope For Kids Childcare Center
- Assets
- $241.5k
- Revenue
- $829.9k
- Investments
- $0.0
- Employees
- 53
- Location
- Duluth, MN
- Founding
- Data as of
- 12/2023
- 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 12/2023, Hope For Kids Childcare Center employed 53 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 12/2023, Hope For Kids Childcare Center generated $829.9k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 34.8% each year . All expenses for the organization totaled $723.8k during the year ending 12/2023. While expenses have increased by 30.0% per year over the past 4 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
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 | $46,280 |
Peter Bergman Board | Trustee | 1 | $0 |
Michelle Bowker Treasurer | OfficerTrustee | 1 | $0 |
Sandy Johnson Board | Trustee | 1 | $0 |
Marcus Karki Chairman | OfficerTrustee | 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 | $61,094 |
| All other contributions, gifts, grants, and similar amounts not included above | $52,971 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $114,065 |
| Total Program Service Revenue | $715,847 |
| Investment income | $4 |
| 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 | $829,916 |
| 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. | $46,280 |
| Compensation of current officers, directors, key employees. | $5,609 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $429,613 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $18,321 |
| Payroll taxes | $38,505 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,036 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,385 |
| Office expenses | $2,852 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $48,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,287 |
| Interest | $1,895 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,294 |
| Insurance | $0 |
| All other expenses | $9,684 |
| Total functional expenses | $723,832 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $75,906 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,573 |
| 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 | $1,117 |
| Net Land, buildings, and equipment | $161,889 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $241,485 |
| Accounts payable and accrued expenses | $16,732 |
| 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 | $34,693 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $51,425 |
| Net assets without donor restrictions | $190,060 |
| 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 | $241,485 |