Civic Intelligence

Preschool Advantage Inc

EIN 22-3360099 • 501(c)3 • Morristown, NJ

Profile

Preschool advantage provides funding for qualified children to attend our partner preschools.

25 Lindsley Drive Suite 307Morristown, NJ 07960

www.preschooladvantage.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

22nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

NTEE B • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

22nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

NTEE B • $1M-$5M nonprofits • Source year 2024

Net Margin

16th percentile

-13%

Higher net margin than 16% of similar nonprofits.

NTEE B • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

78th percentile

$140,207

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 13.3% of source-year revenue.

NTEE B • $1M-$5M nonprofits • Source year 2024

Asset Growth

34th percentile

-0.8%

Faster asset growth than 34% of similar nonprofits.

NTEE B • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

32nd percentile

-1.4%

Faster revenue growth than 32% of similar nonprofits.

NTEE B • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$2,121,222

Down $16,860 (-0.8%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Down

$2,121,222

Down $16,860 (-0.8%) from 2023

Revenue

Down

$1,051,915

Down $15,069 (-1.4%) from 2023

Expenses

Up

$1,183,944

Up $201,736 (+21%) from 2023

Net Income

Down

-$132,029

Down $216,805 (-256%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2010: $1,109,719Liabilities 2010: $0Net Assets 2010: $1,109,7192010Assets 2011: $1,061,856Liabilities 2011: $0Net Assets 2011: $1,061,8562011Assets 2012: $1,124,917Liabilities 2012: $0Net Assets 2012: $1,124,9172012Assets 2013: $1,163,394Liabilities 2013: $0Net Assets 2013: $1,163,3942013Assets 2014: $1,127,207Liabilities 2014: $0Net Assets 2014: $1,127,2072014Assets 2015: $1,057,206Liabilities 2015: $0Net Assets 2015: $1,057,2062015Assets 2016: $1,047,537Liabilities 2016: $0Net Assets 2016: $1,047,5372016Assets 2017: $1,140,832Liabilities 2017: $0Net Assets 2017: $1,140,8322017Assets 2018: $1,326,085Liabilities 2018: $0Net Assets 2018: $1,326,0852018Assets 2019: $1,629,706Liabilities 2019: $0Net Assets 2019: $1,629,7062019Assets 2020: $2,072,540Liabilities 2020: $38,451Net Assets 2020: $2,034,0892020Assets 2021: $2,113,765Liabilities 2021: $0Net Assets 2021: $2,113,7652021Assets 2022: $1,893,055Liabilities 2022: $0Net Assets 2022: $1,893,0552022Assets 2023: $2,138,082Liabilities 2023: $0Net Assets 2023: $2,138,0822023Assets 2024: $2,121,222Liabilities 2024: $0Net Assets 2024: $2,121,2222024

Highlighted filing

2024

Assets$2,121,222
Liabilities$0
Net Assets$2,121,222

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2010: $374,5962010Revenue 2011: $382,306Expenses 2011: $398,458Net Income 2011: -$16,1522011Expenses 2012: $376,8052012Revenue 2013: $408,617Expenses 2013: $415,910Net Income 2013: -$7,2932013Revenue 2014: $426,521Expenses 2014: $437,036Net Income 2014: -$10,5152014Revenue 2015: $431,087Expenses 2015: $465,157Net Income 2015: -$34,0702015Revenue 2016: $451,185Expenses 2016: $480,400Net Income 2016: -$29,2152016Revenue 2017: $596,357Expenses 2017: $572,758Net Income 2017: $23,5992017Revenue 2018: $934,710Expenses 2018: $647,574Net Income 2018: $287,1362018Revenue 2019: $944,342Expenses 2019: $773,752Net Income 2019: $170,5902019Revenue 2020: $854,854Expenses 2020: $549,320Net Income 2020: $305,5342020Revenue 2021: $874,189Expenses 2021: $891,241Net Income 2021: -$17,0522021Revenue 2022: $947,215Expenses 2022: $955,602Net Income 2022: -$8,3872022Revenue 2023: $1,066,984Expenses 2023: $982,208Net Income 2023: $84,7762023Revenue 2024: $1,051,915Expenses 2024: $1,183,944Net Income 2024: -$132,0292024

Highlighted filing

2024

Revenue$1,051,915
Expenses$1,183,944
Net Income-$132,029

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.12$0.00$2.12$1.05$1.18$0.13
2023Detailed filing. Detailed filing data is available for this year.$2.14$0.00$2.14$1.07$0.98$0.08
2022Detailed filing. Detailed filing data is available for this year.$1.89$0.00$1.89$0.95$0.96$0.01
2021Detailed filing. Detailed filing data is available for this year.$2.11$0.00$2.11$0.87$0.89$0.02
2020Detailed filing. Detailed filing data is available for this year.$2.07$0.04$2.03$0.85$0.55$0.31
2019Detailed filing. Detailed filing data is available for this year.$1.63$0.00$1.63$0.94$0.77$0.17
2018Detailed filing. Detailed filing data is available for this year.$1.33$0.00$1.33$0.93$0.65$0.29
2017Detailed filing. Detailed filing data is available for this year.$1.14$0.00$1.14$0.60$0.57$0.02
2016Detailed filing. Detailed filing data is available for this year.$1.05$0.00$1.05$0.45$0.48$0.03
2015Detailed filing. Detailed filing data is available for this year.$1.06$0.00$1.06$0.43$0.47$0.03
2014Detailed filing. Detailed filing data is available for this year.$1.13$0.00$1.13$0.43$0.44$0.01
2013Detailed filing. Detailed filing data is available for this year.$1.16$0.00$1.16$0.41$0.42$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.12$0.00$1.12$0.38
2011Summary only. Only limited summary data is available for this year.$1.06$0.00$1.06$0.38$0.40$0.02
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.11$0.00$1.11$0.37
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 13, 2025
Return Version
2024v5.2
Gross Receipts
$1,191,022
Mission and Program Overview

Mission

Preschool advantage provides funding for qualified children to attend our partner preschools.

To fund tuitions to preschools for low income families in morris and somerset county.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,433,710$1,769,369▲ $335,659
Savings and Temporary Cash Investments$697,404$345,769▼ $351,635
Cash and Non-Interest-Bearing Accounts$1,860$2,084▲ $224
Intangible Assets$1,108$0▼ $1,108
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$2,138,082$2,121,222▼ $16,860
Other Assets Total$4,000$4,000→ $0
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,138,082$2,121,222▼ $16,860
Total Net Assets Fund Balance$2,138,082$2,121,222▼ $16,860
Total Liabilities and Net Assets / Fund Balance$2,138,082$2,121,222▼ $16,860

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$15,354$15,354

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$1,288,578-▲ $126,956-$1,415,534
2023$1,303,155-▼ $14,577-$1,288,578
2022$1,309,253-▼ $6,098-$1,303,155
2021$1,166,824-▲ $142,429-$1,309,253
2020$1,024,957-▲ $141,867-$1,166,824
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nancy BangiolaExecutive DirectorFT$116,036$24,171$140,207

Board Members and Trustees

NameTitle
Ray HawkinsPresident
Bette SimmonsVice President
Matt MirettVice President
Andrew SchneiderTrustee
Carolyn SimpsonTrustee
Denise LanzaTrustee
Ginger MichaelsTrustee
Judy PierceTrustee
Kyle ColwellTrustee
Lauren DiemarTrustee
Maria SavettiereTrustee
Pam SullivanTrustee
Gail ReutherSecretary
Joshua MackoffTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$955,843
Program Service Revenue
$0
Investment Income
$76,398
Other Revenue
$19,674
All Other Contributions
$640,150
Change in Net Assets
$-132,029

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,051,915
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$115,169
Total Revenue per Audited Statements
$1,167,084
Total Revenue per Form 990
$1,051,915
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$701,111
Salaries, Compensation, and Employee Benefits$387,106
Total Fundraising Expense$137,113
Other Expenses$95,727
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$701,111--$701,111
Other Salaries and Wages$107,754$43,102$64,652$215,508
Current Officers, Directors, Trustees, and Key Employees$69,853$27,940$41,912$139,705
Occupancy$16,163$6,464$9,698$32,325
Payroll Taxes$13,567$5,427$8,140$27,134
Office Expenses$8,400$3,360$5,038$16,798
Fees for Services Other-$10,946-$10,946
Fees for Services Accounting-$5,000-$5,000
Other Employee Benefits$2,379$952$1,428$4,759
Advertising-$4,214-$4,214
Conferences and Meetings-$3,827-$3,827
Depreciation Depletion-$1,108-$1,108
Other Expenses$1,848$901$1,109$901
All Other Expenses-$677-$677
Fees for Services Legal-$361-$361
Total Functional Expenses$931,814$115,017$137,113$1,183,944

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,183,944
Total Expenses per Audited Statements$1,183,944
Total Expenses per Form 990$1,183,944
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$138,494
Fundraising Gross Income$138,494
Gaming Gross Income$20,287
Gaming Direct Expenses$613
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fall Gala$243,065$86,064$86,064$0
Golf Outing$197,537$52,430$52,430$0
Total Events$454,187$138,494$138,494$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Preschool advantage, inc. Has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by management and the audit committee and is ready to be filed with the internal revenue service, it is provided to the members of the organizations governing body for any comments prior to its submission. The governing body is provided with a reasonable amount of time to review the form 990. Any comments are then grouped, summarized and provided through management to the outside accounting firm. Any applicable issues are addressed prior to the return being finalized and approved for filing.

Form 990, Part VI, Section B, Line 12C

Preschool advantage, inc. Currently has in place a conflict of interest policy which it regularly monitors and enforces. The board mandates that all members of management and the governing body annually sign a conflict of interest policy and disclose any potential or actual conflicts that may exist. If a potential or actual conflict of interest exists, the governing body and management will investigate the issue. If a conflict of interest is determined to exist, management and the governing body will be notified immediately. The member will not be allowed to vote or be a part of any decisions about any such transactions that have to do with the conflict until such time that there is no longer a conflict. In addition, whenever a large purchase or other transaction for services are provided they are reviewed for approval. The trustees are required to make full disclosure of any interest they, their family, or organization may have. The board then decides if involvement would constitute a conflict of interest.

Form 990, Part VI, Section B, Line 15

The compensation of the organizations officers or key employees is reviewed and approved by the board of trustees, an independent body. The qualifications and experience of the individual are also taken into account when determining compensation.

Form 990, Part VI, Section C, Line 19

Preschool advantage, inc. Makes its form 990 available for public inspection as required under section 6104 of the internal revenue code upon written request at the organization's office at 25 lindsley drive, suite 307, morristown, nj 07960. In addition, the financial statements and conflict of interest policy are available upon written request at the organization's office at 25 lindsley drive, suite 307, morristown, nj 07960.

Filing and Contact Details

Filer

Filer Name
Preschool Advantage Inc
EIN
22-3360099
Phone
9735322501
Address
25 LINDSLEY DRIVE SUITE 307, MORRISTOWN, NJ 07960

Signing Officer

Name
Joshua Mackoff
Title
Treasurer
Phone
9735322501
Signed
2025-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joshua Mackoff
Formed
1995
Legal Domicile
Nj
Voting Board Members
15
Independent Board Members
14
Employees
5
Volunteers
92

Preparer

Firm
Nisivoccia Llp
Address
200 VALLEY RD SUITE 300, MT ARLINGTON, NJ 07856
Preparer
Anthony Rispoli
Phone
9733281825
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 1

Preschool advantage, inc. Uses the modified cash basis of accounting for financial statement purposes.

Form 990, Part XII, Line 2C

Preschool advantage, inc. Has established an audit committee to oversee the audit process, engage independent auditors, and review irs form 990 on an annual basis.

Financial Statement Notes

PART V, LINE 4:

The intended use of the organization's endowment funds is to provide minimum working capital in support of the mission of the organization.

PART X, LINE 2:

The organization is a not-for-profit corporation that is exempt from income taxes under section 501(c)(3) of the internal revenue code and classified by the internal revenue service as other than a private foundation. The organization is also exempt under title 15 of the state of new jersey, corporations and associations not-for-profit act. Accordingly, no provision for federal or state income tax has been presented in the accompanying financial statements. The organization follows the provisions of fasb accounting standards codification, income taxes. The standard prescribes a minimum recognition threshold and measurement methodology that a tax position taken or expected to be taken in a tax return is required to meet before being recognized in the financial statements. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition as they relate to those tax positions. The organization does not expect a significant increase or decrease to the total amounts of unrecognized tax positions during the year ended december 31, 2024. However, the organization is subject to audit by tax authorities, including a review of its nonprofit status which management believes would be upheld upon examination. The organization believes that it has appropriate support for the positions taken on its tax returns. Nonetheless, the amounts ultimately paid, if any, upon resolution of the issues raised by the taxing authorities may differ materially from the amounts accrued for each year. The organization did not have amounts accrued for the years ending december 31, 2024 and 2023. As required by law, the organization files informational returns with both the united states federal and state of new jersey jurisdictions on an annual basis - form 990 with the internal revenue service and the applicable form cri with the state. The organization is subject to examinations at any time within certain statutorily defined periods from the latest filing date for federal and for new jersey.

Raw XML AppendixShowing 400 of 548 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0TO FUND TUITIONS TO PRESCHOOLS FOR LOW INCOME FAMILIES IN MORRIS AND SOMERSET COUNTY.
IRS990/AdvertisingGrp/ManagementAndGeneralAmt04214
IRS990/AdvertisingGrp/TotalAmt04214
IRS990/AllOtherContributionsAmt0640150
IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt0677
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IRS990/CreditCounselingInd00
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IRS990/Desc0PRESCHOOL ASSISTANCE: THE FIRST YEARS OF A CHILD'S LIFE ARE CRITICAL TO LAYING THE FOUNDATION FOR A LIFETIME LOVE OF LEARNING. EARLY CHILDHOOD EDUCATION SETS THE STAGE FOR FUTURE GROWTH AND PROPELS CHILDREN ONTO THEIR EDUCATIONAL PATHS. DESPITE THE UNDENIABLE IMPORTANCE OF A SOLID EDUCATIONAL START, MANY LOCAL CHILDREN HAVE NO MEANS TO ATTEND PRESCHOOL. PRESCHOOL ADVANTAGE SERVES THE POPULATION OF STRUGGLING FAMILIES WHO DO NOT QUALIFY FOR GOVERNMENT FUNDED PROGRAMS BECAUSE THEY EARN ABOVE THE POVERTY LEVEL, BUT ARE STILL EARNING BELOW THE LEVEL OF SUSTAINABILITY FOR OUR REGION. THESE FAMILIES SIMPLY CANNOT AFFORD THE COST OF A PRESCHOOL FOR THEIR CHILD THUS HINDERING THE CHILD'S SUCCESS AND OPPORTUNITIES LATER IN LIFE. THE LACK OF SOURCES OF ASSISTANCE FOR WORKING FAMILIES UNABLE TO SUPPORT THE COST OF PRESCHOOL LED TO THE FOUNDING OF PRESCHOOL ADVANTAGE IN MORRISTOWN IN 1995. TO DATE, WE HAVE FUNDED ALMOST 2,000 HALF-DAY PRESCHOOL TUITIONS FOR JUST UNDER $1,500 CHILDREN.
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IRS990/Form990PartVIISectionAGrp/PersonNm7JUDY PIERCE
IRS990/Form990PartVIISectionAGrp/PersonNm8DENISE LANZA
IRS990/Form990PartVIISectionAGrp/PersonNm9GINGER MICHAELS
IRS990/Form990PartVIISectionAGrp/PersonNm10MATT MIRETT
IRS990/Form990PartVIISectionAGrp/PersonNm11MARIA SAVETTIERE
IRS990/Form990PartVIISectionAGrp/PersonNm12ANDREW SCHNEIDER
IRS990/Form990PartVIISectionAGrp/PersonNm13PAM SULLIVAN
IRS990/Form990PartVIISectionAGrp/PersonNm14NANCY BANGIOLA
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IRS990/Form990PartVIISectionAGrp/TitleTxt0VICE PRESIDENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt10VICE PRESIDENT
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE INTENDED USE OF THE ORGANIZATION'S ENDOWMENT FUNDS IS TO PROVIDE MINIMUM WORKING CAPITAL IN SUPPORT OF THE MISSION OF THE ORGANIZATION.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION IS A NOT-FOR-PROFIT CORPORATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS OTHER THAN A PRIVATE FOUNDATION. THE ORGANIZATION IS ALSO EXEMPT UNDER TITLE 15 OF THE STATE OF NEW JERSEY, CORPORATIONS AND ASSOCIATIONS NOT-FOR-PROFIT ACT. ACCORDINGLY, NO PROVISION FOR FEDERAL OR STATE INCOME TAX HAS BEEN PRESENTED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ORGANIZATION FOLLOWS THE PROVISIONS OF FASB ACCOUNTING STANDARDS CODIFICATION, INCOME TAXES. THE STANDARD PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION AS THEY RELATE TO THOSE TAX POSITIONS. THE ORGANIZATION DOES NOT EXPECT A SIGNIFICANT INCREASE OR DECREASE TO THE TOTAL AMOUNTS OF UNRECOGNIZED TAX POSITIONS DURING THE YEAR ENDED DECEMBER 31, 2024. HOWEVER, THE ORGANIZATION IS SUBJECT TO AUDIT BY TAX AUTHORITIES, INCLUDING A REVIEW OF ITS NONPROFIT STATUS WHICH MANAGEMENT BELIEVES WOULD BE UPHELD UPON EXAMINATION. THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR THE POSITIONS TAKEN ON ITS TAX RETURNS. NONETHELESS, THE AMOUNTS ULTIMATELY PAID, IF ANY, UPON RESOLUTION OF THE ISSUES RAISED BY THE TAXING AUTHORITIES MAY DIFFER MATERIALLY FROM THE AMOUNTS ACCRUED FOR EACH YEAR. THE ORGANIZATION DID NOT HAVE AMOUNTS ACCRUED FOR THE YEARS ENDING DECEMBER 31, 2024 AND 2023. AS REQUIRED BY LAW, THE ORGANIZATION FILES INFORMATIONAL RETURNS WITH BOTH THE UNITED STATES FEDERAL AND STATE OF NEW JERSEY JURISDICTIONS ON AN ANNUAL BASIS - FORM 990 WITH THE INTERNAL REVENUE SERVICE AND THE APPLICABLE FORM CRI WITH THE STATE. THE ORGANIZATION IS SUBJECT TO EXAMINATIONS AT ANY TIME WITHIN CERTAIN STATUTORILY DEFINED PERIODS FROM THE LATEST FILING DATE FOR FEDERAL AND FOR NEW JERSEY.

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