Skip to content
Nonprofiteer
← EARLY LEARNING PROPERTY MANAGEMENT INC

Form 990 for tax year 2023

Filed by EARLY LEARNING PROPERTY MANAGEMENT INC.

Totals

Total revenue
$3,413,740
Total expenses
$2,842,341
Contributions and grants received
$1,576,516
Grants paid
$921,532
Program service revenue
$1,503,067
Investment income
$332,657
Other revenue
$1,500
Total assets, end of year
$27,345,056
Total liabilities, end of year
$1,011,942
Net assets or fund balances, end of year
$26,333,114
Program services expenses (Part IX)
$2,294,455
Management and general expenses
$547,886
Fundraising expenses
$0
Program service expenses (Part III)
$2,294,455

Program services were 80.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $1,500,000

  • 1f · All other contributions, gifts and grants

    $76,516

  • 2a · Program service revenue: LEARNING CTR RENTAL

    total $1,503,067 · related or exempt $1,503,067

  • 3 · Investment income

    total $225,593 · excluded $225,593

  • 7a · Gross sales of assets other than inventory

    securities $274,109

  • 7b · Less cost or other basis and sales expenses

    securities $167,045

  • 7c · Gain or loss

    securities $107,064

  • 7d · Net gain or loss

    total $107,064 · excluded $107,064

  • 11a · Other revenue: OTHER REVENUE

    total $1,500 · related or exempt $1,500

  • 11e · Other revenue, total

    $1,500

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $921,532 · program services $921,532

  • 5 · Compensation of officers, directors and key employees

    total $192,917 · management and general $192,917

  • 7 · Other salaries and wages

    total $141,658 · management and general $141,658

  • 10 · Payroll taxes

    total $22,567 · management and general $22,567

  • 11c · Fees: accounting

    total $77,627 · management and general $77,627

  • 11f · Fees: investment management

    total $26,962 · management and general $26,962

  • 11g · Fees: other

    total $9,388 · management and general $9,388

  • 13 · Office expenses

    total $4,341 · management and general $4,341

  • 16 · Occupancy

    total $37,010 · management and general $37,010

  • 17 · Travel

    total $13,573 · management and general $13,573

  • 22 · Depreciation, depletion and amortization

    total $674,136 · program services $674,136

  • 23 · Insurance

    total $112,465 · program services $104,359 · management and general $8,106

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $537,209 · program services $537,209

  • 24b · Other expenses: CENTER RENTAL EXPENSE

    total $57,219 · program services $57,219

  • 24e · All other expenses

    total $13,737 · management and general $13,737

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $5,458,952 · end of year $5,747,907

  • 4 · Accounts receivable

    beginning of year $15,198 · end of year $33,442

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,131

  • 10a · Land, buildings and equipment: cost or other basis

    $29,299,727

  • 10b · Land, buildings and equipment: accumulated depreciation

    $15,087,490

  • 10c · Land, buildings and equipment, net

    beginning of year $14,235,043 · end of year $14,212,237

  • 11 · Investments: publicly traded securities

    beginning of year $5,413,573 · end of year $6,154,806

  • 15 · Other assets

    beginning of year $1,237,682 · end of year $1,196,664

  • 17 · Accounts payable and accrued expenses

    beginning of year $85,019 · end of year $166,197

  • 18 · Grants payable

    beginning of year $298,827 · end of year $149,814

  • 19 · Deferred revenue

    beginning of year $86,952 · end of year $89,560

  • 25 · Other liabilities

    beginning of year $681,198 · end of year $606,371

  • 27 · Net assets without donor restrictions

    beginning of year $21,998,024 · end of year $22,128,611

  • 28 · Net assets with donor restrictions

    beginning of year $3,217,559 · end of year $4,204,503

Mission and programs · 2023

Mission

TO TRANSFORM EARLY CHILDHOOD DEVELOPMENT IN UNDERSERVED COMMUNITIES BY BUILDING AND MAINTAINING HIGH QUALITY, SAFE FACILITIES AND ENHANCING EXISTING CENTERS.

Activities or mission (Part I)

TO PROVIDE AFFORDABLE CLASSROOMS FOR EARLY LEARNING PROGRAMS HELPING DISADVANTAGED YOUTH IN GEORGIA THROUGH THE PURCHASE OR LEASE AND RENOVATION OR CONSTRUCTION OF CLASSROOM FACILITIES. THE FACILITIES ARE LEASED AT A BELOW-MARKET RATE TO EARLY LEARNING PROGRAMS, SUCH AS HEADSTART, THAT ARE 501(C)(3) ORGANIZATIONS. FACILITIES MAY ALSO BE PROVIDED TO EARLY LEARNING PROGRAMS THROUGH SALES, DIRECT FINANCING LEASES, OR DEVELOPMENT/CONSTRUCTION AGREEMENTS.

  • THE ORGANIZATION PERFORMS TWO RELATED FUNCTIONS. THE FIRST IS TO PURCHASE OR BUILD FACILITIES FOR EARLY LEARNING PROGRAMS RUN BY 501(C)(3) ORGANIZATIONS, SUCH AS HEADSTART. AS OF DECEMBER 31, 2023, THE ORGANIZATION HAS COMPLETED ELEVEN CONSTRUCTION/RENOVATION PROJECTS. UPON COMPLETION OF THE CONSTRUCTION/RENOVATION, THE PROPERTIES ARE LEASED AT A BELOW-MARKET RENT TO 501(C)(3) ORGANIZATIONS WHICH PROVIDE EARLY LEARNING PROGRAMS. SUCH RENT COVERS THE COSTS OF LEASING AND MAINTAINING THE FACILITIES AS WELL AS FUTURE CAPITAL IMPROVEMENTS. AS OF DECEMBER 31, 2023, THE ORGANIZATION HAS LEASED THE ELEVEN COMPLETED PROJECTS. IN 2023, TEN NEW FACILITIES PROJECTS WERE INITIATED.

    Expenses $1,372,923 · Revenue $1,504,567

  • DURING 2021, THE ORGANIZATION BEGAN A NEW PROGRAM, QUALITY FACILITIES INITIATIVE, AND COLLABORATED WITH GEEARS, THE GEORGIA EARLY EDUCATION ALLIANCE FOR READY STUDENTS, INC. IN ITS PAACT PROGRAM TO HELP EARLY CHILDHOOD EDUCATION PROVIDERS IMPROVE THE QUALITY OF EARLY LEARNING ENVIRONMENTS BY MAKING GRANTS AVAILABLE FOR SMALL CAPITAL AND MAINTENANCE PROJECTS FOR EXISTING EARLY LEARNING FACILITIES. THE ORGANIZATION WILL USE ITS EXTENSIVE KNOWLEDGE REGARDING THE CONSTRUCTION/RENOVATION OF EARLY LEARNING FACILITIES TO OVERSEE THE CAPITAL AND MAINTENANCE PROJECTS ON BEHALF OF THE GRANT RECIPIENTS.

    Expenses $906,532 · Grants $906,532

  • THE SIBLEY GRANT IS A COMPETITION BETWEEN ONLY THE ELPM CENTERS AS DEEMED BY THE ORIGINAL GIFTING FUNDERS: THE HARLAND FOUNDATION ($100,000) AND THE PITTULLOCH FOUNDATION ($100,000). EACH YEAR THE ELPM CENTERS COMPETE FOR THIS GRANT TO INTRODUCE A NEW PROGRAM TO THEIR EXISTING PROGRAM SERVICES.

    Expenses $15,000 · Grants $15,000

As filed on the 2023 return.

Listed in Part VII

  • Kara Portnell

    EXECUTIVE DIRECTOR

    Total calculated
    $192,917
    From this org
    $154,167
    From related orgs
    $0
    Other
    $38,750
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,167
    Bonus
    $0
    Other
    $10,000
    Deferred
    $38,750
    Nontaxable benefits
    $0
    Filer's total
    $192,917

  • David F Haddow

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.1

  • Dave Mathews

    FINANCE COMMITTEE CHAIR

    Total calculated
    $0
    Hours/week
    0.1

  • Jim Beaty

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.1

  • Mary Pat Crouch

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.1

  • Gail Edwards

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.1

  • Edrick Harris

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.1

  • Bank Hipp

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.1

  • Yolanda Marroquin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.1

  • Donata Russell Ross

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.1

  • Jere J Smith

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.1

  • Mark Sutton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • HOLLYWOOD DAYCARE CENTER

    $134,275

    QUALITY FACILITIES INITIATIVE

  • 1ST STEP LEARNING ACADEMY

    $87,717

    QUALITY FACILITIES INITIATIVE

  • LOVING CARE DAYCARE CENTER

    $83,645

    QUALITY FACILITIES INITIATIVE

  • LITTLE ONES LEARNING CENTER

    $82,735

    QUALITY FACILITIES INITIATIVE

  • RIVER OAKES DAY CARE

    $80,447

    QUALITY FACILITIES INITIATIVE

  • KARTER PREPARATORY ACADEMY

    $63,617

    QUALITY FACILITIES INITIATIVE

  • KALE ACADEMY

    $60,186

    QUALITY FACILITIES INITIATIVE

  • FUTURE LEADERS

    $53,514

    QUALITY FACILITIES INITIATIVE

  • A WORLD OF KNOWLEDGE PRESCHOOL & ACADEMY

    $44,299

    QUALITY FACILITIES INITIATIVE

  • INNOVATIVE PLAYSKOOL

    $39,388

    QUALITY FACILITIES INITIATIVE

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
19 June 2024
IRS schema version
2023v5.1
Source object
202431929349301708

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.