Madison Learning Center Inc
- Assets
- $972.6k
- Revenue
- $599.2k
- Investments
- $0.0
- Employees
- 29
- Location
- Madison, VA
- Founding
- 12/2019
- Data as of
- 12/2021
- EIN
- 84-2128523
Organization Overview
Madison Learning Center Inc is located in Madison, VA. The organization was established in 2019. 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, Madison Learning Center Inc employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Madison 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 12/2021, Madison Learning Center Inc generated $599.2k in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $535.0k during the year ending 12/2021. While expenses have increased by 2.0% 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
THE MADISON LEARNING CENTER WAS CREATED TO FULFILL THE GROWING NEED FOR CHILDCARE AND EARLY CHILDHOOD EDUCATION IN MADISON COUNTY, VIRGINIA AND THE SURROUNDING COUNTIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE A YEAR-ROUND, SAFE, AND CLOSELY SUPERVISED ENVIRONMENT FOR CHILDREN AGES FOUR WEEKS TO FIVE YEARS OLD AND BEFORE AND AFTER CARE FOR CHILDREN TO AGE TWELVE. WE OFFER AGE-APPROPRIATE AND EDUCATIONAL PROGRAMS IN EACH CLASSROOM AS WELL AS A USDA-APPROVED PROGRAM FOR LUNCH AND SNACKS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cindy Decowski Director | Officer | 40 | $36,060 |
Frances K Lacy Chairperson | Officer | 1 | $0 |
Russell James Vice Chair | Officer | 1 | $0 |
Clare Lillard Secretary | Officer | 1 | $0 |
Carlton Yowell Treasurer | Officer | 1 | $0 |
Nita Collier Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $131,253 |
| All other contributions, gifts, grants, and similar amounts not included above | $77,652 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $208,905 |
| Total Program Service Revenue | $390,260 |
| Investment income | $0 |
| 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 | $599,165 |
| 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. | $36,060 |
| Compensation of current officers, directors, key employees. | $10,818 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $331,694 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $33,153 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,107 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,480 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $60,790 |
| 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 | $14,307 |
| Insurance | $11,229 |
| All other expenses | $7,207 |
| Total functional expenses | $534,950 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $167,774 |
| Savings and temporary cash investments | $0 |
| 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 | $804,852 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $972,626 |
| Accounts payable and accrued expenses | $18,247 |
| Grants payable | $72,800 |
| Deferred revenue | $606 |
| 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 | $0 |
| Total liabilities | $91,653 |
| Net assets without donor restrictions | $880,973 |
| 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 | $972,626 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Madison Learning Center Inc has recieved totaling $11,388.
| Awarding Organization | Amount |
|---|---|
Mightycause Charitable Foundation Marianna, FL PURPOSE: UNRESTRICTED | $11,388 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Child Care Services Association Chapel Hill, NC | $9,435,676 | $35,180,731 |
Porter-Leath Memphis, TN | $49,048,141 | $36,176,100 |
Children And Families First Greensboro, NC | $16,601,119 | $28,435,944 |
River Valley Child Development Services Huntington, WV | $6,974,645 | $16,881,683 |
Learning Grove Inc Covington, KY | $12,030,181 | $15,031,851 |
Georgetown Hill Child Care Center Inc Montgomery Village, MD | $9,950,402 | $20,593,536 |
Centronia Washington, DC | $17,606,173 | $16,952,822 |
Child Care Resources Inc Charlotte, NC | $14,134,148 | $14,856,531 |
The Childrens Center Franklin, VA | $3,548,502 | $14,069,816 |
Campagna Center Inc Alexandria, VA | $7,278,188 | $13,190,790 |
Child Care Resources Inc Richmond, VA | $3,029,926 | $11,141,593 |
Positively Living Inc Knoxville, TN | $4,436,601 | $10,571,861 |