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Nonprofiteer
← IVY ACADEMY OF EARLY LEARNING II INC

Form 990 for tax year 2023

Filed by IVY ACADEMY OF EARLY LEARNING II INC.

Totals

Total revenue
$1,239,893
Total expenses
$1,257,904
Contributions and grants received
$135,750
Grants paid
$51,405
Program service revenue
$1,093,403
Investment income
$10,740
Other revenue
$0
Total assets, end of year
$259,894
Total liabilities, end of year
$182,874
Net assets or fund balances, end of year
$77,020
Program services expenses (Part IX)
$1,022,262
Management and general expenses
$235,642
Fundraising expenses
$0
Program service expenses (Part III)
$1,022,262

Program services were 81.3% 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

    $135,750

  • 2a · Program service revenue: DAYCARE SERVICES

    total $1,093,403 · related or exempt $1,093,403

  • 3 · Investment income

    total $2,349 · excluded $2,349

  • 7a · Gross sales of assets other than inventory

    other assets $41,954

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

    other assets $33,563

  • 7c · Gain or loss

    other assets $8,391

  • 7d · Net gain or loss

    total $8,391 · excluded $8,391

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $51,405 · program services $51,405

  • 5 · Compensation of officers, directors and key employees

    total $308,378 · program services $185,027 · management and general $123,351

  • 7 · Other salaries and wages

    total $510,477 · program services $498,168 · management and general $12,309

  • 9 · Other employee benefits

    total $1,726 · program services $1,684 · management and general $42

  • 10 · Payroll taxes

    total $65,552 · program services $53,343 · management and general $12,209

  • 11g · Fees: other

    total $23,675 · program services $1,935 · management and general $21,740

  • 12 · Advertising and promotion

    total $4,461 · management and general $4,461

  • 13 · Office expenses

    total $30,584 · program services $11,861 · management and general $18,723

  • 14 · Information technology

    total $13,062 · program services $10,450 · management and general $2,612

  • 16 · Occupancy

    total $173,951 · program services $156,556 · management and general $17,395

  • 17 · Travel

    total $15,761 · management and general $15,761

  • 19 · Conferences, conventions and meetings

    total $29,306 · program services $29,306

  • 22 · Depreciation, depletion and amortization

    total $3,021 · program services $1,813 · management and general $1,208

  • 23 · Insurance

    total $17,306 · program services $13,845 · management and general $3,461

  • 24a · Other expenses: FOOD FOR CHILDREN

    total $6,869 · program services $6,869

  • 24e · All other expenses

    total $2,370 · management and general $2,370

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $120,234 · end of year $17,746

  • 4 · Accounts receivable

    beginning of year $102,894 · end of year $159,228

  • 5 · Loans and receivables from officers and key people

    end of year $32,425

  • 9 · Prepaid expenses and deferred charges

    end of year $23,306

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

    $30,210

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

    $3,021

  • 10c · Land, buildings and equipment, net

    beginning of year $33,563 · end of year $27,189

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,363 · end of year $14,381

  • 22 · Loans and payables to officers and key people

    beginning of year $148,374 · end of year $128,681

  • 24 · Unsecured notes and loans payable

    end of year $39,812

  • 25 · Other liabilities

    beginning of year $4,923 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $95,031 · end of year $77,020

Mission and programs · 2023

Mission

TO PROVIDE QUALITY EARLY CHILDHOOD EDUCATION AND RELATED SERVICES, WHILE STRIVING TO EMPOWER YOUNG CHILDREN THROUGH FAMILY-FRIENDLY SUPPORT AND EDUCATION

  • THE IVY ACADEMY OF EARLY LEARNING II INC. IS ORGANIZED TO PROVIDE DAYCARE SERVICES WITH A GOAL OF CONSIDERING THE STUDENT'S INDIVIDUAL NEEDS, WORKING WITH FAMILIES, STAFF AND ANY OUTSIDE AGENCIES TO PROVIDE THE BEST ENVIRONMENT FOR THE OPTIMUM GROWTH AND DEVELOPMENT OF EACH STUDENT.

    Expenses $1,022,262 · Grants $51,405 · Revenue $1,093,403

As filed on the 2023 return.

Listed in Part VII

  • AMY HITCHINSON

    PRESIDENT

    Total calculated
    $413,244
    From this org
    $129,806
    From related orgs
    $271,904
    Other
    $11,534
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $129,806 + $271,904 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $11,534 related
    Filer's total
    $129,806 + $283,438 related

  • JOSHUA HARRIS

    TREASURER

    Total calculated
    $374,473
    From this org
    $132,291
    From related orgs
    $236,358
    Other
    $5,824
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $132,291 + $236,358 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $5,824 related
    Filer's total
    $132,291 + $242,182 related

  • JUDY FEINGLASS

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • ERIC LARSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • PETER WASEM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • JULIA FLORES

    CHIEF ADMINISTRATIVE OFFICER

    Total calculated
    $84,982
    From this org
    $35,299
    From related orgs
    $48,274
    Other
    $1,409
    Hours/week
    10 + 30 related

  • LORENA DELGADO

    ASSOCIATE EXECUTIVE DIRECTOR

    Total calculated
    $79,475
    From this org
    $10,983
    From related orgs
    $62,334
    Other
    $6,158
    Hours/week
    10 + 30 related

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

None.

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
5 November 2024
IRS schema version
2023v5.1
Source object
202403129349300435

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