Civic Intelligence

Fuse Preschool Inc.

990 • Fiscal year 2021 • EIN 46-4164737

Jan 01, 2021 to Dec 31, 2021 • Filed on May 16, 2022

110 Hartwell Avenue STE 100Lexington, MA 02421

(781) 658-3009

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

91st percentile

0.83x

Higher debt load relative to assets than 91% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

64th percentile

0.19x

Higher debt load relative to revenue than 64% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

21st percentile

-3.0%

Higher net margin than 21% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

91st percentile

$202,477

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 11.0% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

20th percentile

-2.2%

Faster asset growth than 20% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

33rd percentile

0.4%

Faster revenue growth than 33% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Down

$431,741

Down $9,566 (-2.2%) from 2020

Net Assets

Up

$75,121

Up $94,949 (+479%) from 2020

Liabilities

Down

$356,620

Down $104,515 (-23%) from 2020

Revenue

Up

$1,839,612

Up $6,517 (+0.4%) from 2020

Expenses

Up

$1,893,984

Up $24,585 (+1.3%) from 2020

Net Income

Down

-$54,372

Down $18,068 (-50%) from 2020

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MAssets 2013: $10,463Liabilities 2013: $02013Assets 2014: $119,254Liabilities 2014: $30,894Net Assets 2014: $88,3602014Assets 2015: $137,368Liabilities 2015: $16,281Net Assets 2015: $121,0872015Assets 2016: $65,038Liabilities 2016: $8,733Net Assets 2016: $56,3052016Assets 2017: $122,042Liabilities 2017: $25,016Net Assets 2017: $97,0262017Assets 2018: $118,198Liabilities 2018: $8,876Net Assets 2018: $109,3222018Assets 2019: $345,149Liabilities 2019: $95,671Net Assets 2019: $249,4782019Assets 2020: $441,307Liabilities 2020: $461,135Net Assets 2020: -$19,8282020Assets 2021: $431,741Liabilities 2021: $356,620Net Assets 2021: $75,1212021Assets 2022: $3,210,783Liabilities 2022: $2,882,632Net Assets 2022: $328,1512022Assets 2023: $2,815,760Liabilities 2023: $2,495,901Net Assets 2023: $319,8592023Assets 2024: $2,126,220Liabilities 2024: $2,181,178Net Assets 2024: -$54,9582024

Highlighted filing

2021

Assets$431,741
Liabilities$356,620
Net Assets$75,121

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2013: $20,152Expenses 2013: $9,689Net Income 2013: $10,4632013Revenue 2014: $476,752Expenses 2014: $398,855Net Income 2014: $77,8972014Revenue 2015: $595,610Expenses 2015: $562,883Net Income 2015: $32,7272015Revenue 2016: $549,549Expenses 2016: $614,331Net Income 2016: -$64,7822016Revenue 2017: $742,040Expenses 2017: $701,319Net Income 2017: $40,7212017Revenue 2018: $998,894Expenses 2018: $974,578Net Income 2018: $24,3162018Revenue 2019: $1,449,503Expenses 2019: $1,262,151Net Income 2019: $187,3522019Revenue 2020: $1,833,095Expenses 2020: $1,869,399Net Income 2020: -$36,3042020Revenue 2021: $1,839,612Expenses 2021: $1,893,984Net Income 2021: -$54,3722021Revenue 2022: $2,517,477Expenses 2022: $2,264,448Net Income 2022: $253,0292022Revenue 2023: $2,678,548Expenses 2023: $2,686,840Net Income 2023: -$8,2922023Revenue 2024: $2,332,221Expenses 2024: $2,707,038Net Income 2024: -$374,8172024

Highlighted filing

2021

Revenue$1,839,612
Expenses$1,893,984
Net Income-$54,372
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 16, 2022
Return Version
2021v4.2
Gross Receipts
$1,839,612
Mission and Program Overview

Mission

The fuse preschool is an intensive therapuetic school for children ages 3-6. The preschool provides educational and therapuetic social development services to children during class

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$159,580$193,018▲ $33,438
Land, Buildings, and Equipment, Net$209,299$183,667▼ $25,632
Rtn Earn Endowment Incm Other Fnds$-19,828$75,121▲ $94,949
Accounts Receivable-$11,090-
Prepaid Expenses and Deferred Charges$31,450$9,788▼ $21,662
Other Notes and Loans Receivable, Net$6,750--
Total Assets$441,307$431,741▼ $9,566
Other Assets Total$34,228$34,178▼ $50
Liabilities
Other Liabilities$351,605$219,002▼ $132,603
Deferred Revenue$103,616$137,618▲ $34,002
Accounts Payable and Accrued Expenses$5,914--
Total Liabilities$461,135$356,620▼ $104,515
Net Assets / Fund Balance
Total Net Assets Fund Balance$-19,828$75,121▲ $94,949
Total Liabilities and Net Assets / Fund Balance$441,307$431,741▼ $9,566

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$183,667$110,618$294,285
Other Assets Org$34,178--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Lauren WeeksExecutive DirectorFT$202,477$202,477

Board Members and Trustees

NameTitle
Jay PatelBoard Member
Sarah LyonsBoard Member
Julie CallageeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$215,564
Program Service Revenue
$1,584,832
Investment Income
$0
Other Revenue
$39,216
All Other Contributions
$215,564
Change in Net Assets
$-54,372

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,839,612
Total Revenue per Audited Statements
$1,839,612
Total Revenue per Form 990
$1,839,612
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,250,540
Other Expenses$643,444
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$755,415$97,549-$852,964
Occupancy$295,029$48,620-$343,649
Current Officers, Directors, Trustees, and Key Employees$202,477--$202,477
All Other Expenses$104,928$19,704-$124,632
Other Employee Benefits$91,206$13,383-$104,589
Payroll Taxes$90,510--$90,510
Depreciation Depletion$36,728--$36,728
Fees for Services Accounting-$35,040-$35,040
Office Expenses$29,865--$29,865
Insurance-$25,493-$25,493
Other Expenses$22,494$500-$22,494
Fees for Services Other$13,063--$13,063
Information Technology$4,743--$4,743
Interest-$400-$400
Advertising$301--$301
Total Functional Expenses$1,652,894$241,090$0$1,893,984

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,894,063
Expenses per Audited Statements$1,893,984
Total Expenses per Form 990$1,893,984
Expenses Not Reported on Form 990$79
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Rent$141,823
Payroll Liabilities$33,054
Accrued Expenses$32,291
Printer Lease Liability$9,140
Credit Card$2,694
Due to Related Party-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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
No
Other officer compensation reviewed
No
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 governing body review Part VI line 11

No review will be conducted or will be conducted.

Conflict of interest policy compliance Part VI line 12C

FUSE Preschool Board of Directors consistently reviews a Conflict of Interest policy to ensure that all members are acting in the best interest of the organization.

Governing documents etc available to public Part VI line 19

Financial Statements and Tax return available to public uppon request

Filing and Contact Details

Filer

Filer Name
The Fuse Preschool Inc
EIN
46-4164737
Address
110 Hartwell Avenue STE 100, Lexington, MA 02421

Signing Officer

Name
Lauren Weeks
Title
President
Phone
7816583009
Signed
2022-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lauren Weeks
Formed
2013
Legal Domicile
Ma
Voting Board Members
4
Independent Board Members
3
Employees
33

Preparer

Firm
Abbott and Company LLC
Address
1 Militia Drive, Lexington, MA 02421
Preparer
Mellinda Abbott
Phone
7818632272
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

The balance sheet has been prepared based on the audited financials which calculated depreciation down to the exact date. Using straight line mid-quarter convention depreciation with a 5 year life and no salvage value, produces a difference of $79.

Financial Statement Notes

Other expenses included on Form 990 (Part XII, line 4B)

Audited financial statements used a different depreciation method causing for a $79 depreciation expense difference.

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CREDIT CARD
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PAYROLL LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Printer Lease Liability
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3ACCRUED EXPENSES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4DEFERRED RENT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc5DUE TO RELATED PARTY
IRS990ScheduleD/RevenueSubtotalAmt01839612
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Audited financial statements used a different depreciation method causing for a $79 depreciation expense difference.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Other expenses included on Form 990 (Part XII, line 4b)
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0183667
IRS990ScheduleD/TotalBookValueOtherAssetsAmt034178
IRS990ScheduleD/TotalExpensesPerForm990Amt01893984
IRS990ScheduleD/TotalLiabilityAmt0219002
IRS990ScheduleD/TotalRevenuePerForm990Amt01839612
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01839612
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01894063
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0false
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0202477
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Lauren Weeks
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Executive Director
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0202477
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review will be conducted or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FUSE Preschool Board of Directors consistently reviews a Conflict of Interest policy to ensure that all members are acting in the best interest of the organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Financial Statements and Tax return available to public uppon request
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The balance sheet has been prepared based on the audited financials which calculated depreciation down to the exact date. Using straight line mid-quarter convention depreciation with a 5 year life and no salvage value, produces a difference of $79.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Explanation of other changes in net assets or fund balances Part XI line 9
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0273798792
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0S Corp
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0MA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0Intensive Therapeutic Afterschool Care
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0THE FUSE PROGRAM LLC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0110 HARTWELL AVENUE SUITE 100
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0Lexington
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0MA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd002421
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0true
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0441307
IRS990/TotalAssetsEOYAmt0431741
IRS990/TotalAssetsGrp/BOYAmt0441307
IRS990/TotalAssetsGrp/EOYAmt0431741
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt0215564
IRS990/TotalEmployeeCnt033
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0241090
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01652894
IRS990/TotalFunctionalExpensesGrp/TotalAmt01893984
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0461135
IRS990/TotalLiabilitiesEOYAmt0356620
IRS990/TotalLiabilitiesGrp/BOYAmt0461135
IRS990/TotalLiabilitiesGrp/EOYAmt0356620
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-19828
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt075121
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01652894
IRS990/TotalProgramServiceRevenueAmt01584832
IRS990/TotalReportableCompFromOrgAmt0202477
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01624048
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01839612
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0441307
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0431741
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0http://www.fusepreschool.com
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL2

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