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Nonprofiteer
← MADISON LEARNING CENTER INC

Form 990 for tax year 2023

Filed by MADISON LEARNING CENTER INC.

Totals

Total revenue
$508,530
Total expenses
$672,158
Contributions and grants received
$67,429
Grants paid
$0
Program service revenue
$441,101
Investment income
$0
Other revenue
$0
Total assets, end of year
$840,308
Total liabilities, end of year
$27,209
Net assets or fund balances, end of year
$813,099
Program services expenses (Part IX)
$566,926
Management and general expenses
$99,982
Fundraising expenses
$5,250
Program service expenses (Part III)
$566,926

Program services were 84.3% 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.

  • 1f · All other contributions, gifts and grants

    $67,429

  • 2a · Program service revenue: TUITION AND FEES

    total $441,101 · related or exempt $441,101

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $42,640 · program services $25,584 · management and general $12,792 · fundraising $4,264

  • 7 · Other salaries and wages

    total $439,549 · program services $395,594 · management and general $43,955

  • 10 · Payroll taxes

    total $37,029 · program services $32,374 · management and general $4,338 · fundraising $317

  • 11c · Fees: accounting

    total $3,657 · management and general $3,657

  • 13 · Office expenses

    total $4,642 · management and general $3,973 · fundraising $669

  • 16 · Occupancy

    total $60,861 · program services $40,595 · management and general $20,266

  • 20 · Interest

    total $20 · program services $20

  • 22 · Depreciation, depletion and amortization

    total $14,731 · program services $14,731

  • 23 · Insurance

    total $10,494 · program services $6,999 · management and general $3,495

  • 24a · Other expenses: FOOD

    total $30,688 · program services $30,688

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $10,157 · program services $6,775 · management and general $3,382

  • 24c · Other expenses: COMMUNICATION

    total $5,401 · program services $2,700 · management and general $2,701

  • 24d · Other expenses: COMPUTER SYSTEMS

    total $2,845 · program services $1,422 · management and general $1,423

  • 24e · All other expenses

    total $9,444 · program services $9,444

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $179,322 · end of year $47,886

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

    $849,240

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

    $56,818

  • 10c · Land, buildings and equipment, net

    beginning of year $807,153 · end of year $792,422

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,142 · end of year $11,147

  • 19 · Deferred revenue

    beginning of year $606 · end of year $16,062

  • 27 · Net assets without donor restrictions

    beginning of year $976,727 · end of year $813,099

Mission and programs · 2023

Mission

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.

  • 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.

    Expenses $566,926 · Revenue $508,530

As filed on the 2023 return.

Listed in Part VII

  • Frances K Lacy

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Clare Lillard

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Carlton Yowell

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Betty Sherrod

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Nita Collier

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Katelyn Blocker

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Cindy Decowski

    DIRECTOR

    Total calculated
    $42,640
    From this org
    $42,640
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.0
Source object
202423189349305287

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