Civic Intelligence

Willow Tree Preschool

990 • Fiscal year 2018 • EIN 82-2980265

Aug 01, 2017 to Jul 31, 2018 • Filed on Jan 15, 2019

1712 Willow DriveChapel Hill, NC 27514

(919) 968-1427

Siviq Scores

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

Liabilities / Assets

85th percentile

0.15x

Higher debt load relative to assets than 85% of similar nonprofits.

2018 filings • NTEE B • <$500k nonprofits • Source year 2018

Liabilities / Revenue

86th percentile

0.12x

Higher debt load relative to revenue than 86% of similar nonprofits.

2018 filings • NTEE B • <$500k nonprofits • Source year 2018

Net Margin

68th percentile

15%

Higher net margin than 68% of similar nonprofits.

2018 filings • NTEE B • <$500k nonprofits • Source year 2018

Top Officer Pay

90th percentile

$23,068

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 8.5% of source-year revenue.

2018 filings • NTEE B • <$500k nonprofits • Source year 2018

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Assets

$218,306

No earlier filing loaded for comparison.

Net Assets

$185,049

No earlier filing loaded for comparison.

Liabilities

$33,257

No earlier filing loaded for comparison.

Revenue

$271,285

No earlier filing loaded for comparison.

Expenses

$230,015

No earlier filing loaded for comparison.

Net Income

$41,270

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$300K$200K$100K$0Assets 2018: $218,306Liabilities 2018: $33,257Net Assets 2018: $185,0492018Assets 2019: $231,438Liabilities 2019: $26,461Net Assets 2019: $204,9772019Assets 2020: $250,123Liabilities 2020: $43,087Net Assets 2020: $207,0362020Assets 2021: $188,808Liabilities 2021: $41,813Net Assets 2021: $146,9952021Assets 2022: $222,452Liabilities 2022: $26,793Net Assets 2022: $195,6592022Assets 2023: $9,093Liabilities 2023: $0Net Assets 2023: $9,0932023Assets 2024: $245,404Liabilities 2024: $39,689Net Assets 2024: $205,7152024

Highlighted filing

2018

Assets$218,306
Liabilities$33,257
Net Assets$185,049

Operations Trend

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

$400K$300K$200K$100K$0-$100KRevenue 2018: $271,285Expenses 2018: $230,015Net Income 2018: $41,2702018Revenue 2019: $261,549Expenses 2019: $241,621Net Income 2019: $19,9282019Revenue 2020: $209,180Expenses 2020: $231,778Net Income 2020: -$22,5982020Revenue 2021: $89,201Expenses 2021: $147,185Net Income 2021: -$57,9842021Revenue 2022: $300,925Expenses 2022: $229,032Net Income 2022: $71,8932022Revenue 2023: $234,024Expenses 2023: $225,382Net Income 2023: $8,6422023Revenue 2024: $192,000Expenses 2024: $226,384Net Income 2024: -$34,3842024

Highlighted filing

2018

Revenue$271,285
Expenses$230,015
Net Income$41,270
Jump To
Filing Snapshot
Filing Period
Aug 1, 2017 to Jul 31, 2018
Signed
Jan 15, 2019
Return Version
2017v2.3
Gross Receipts
$277,632
Mission and Program Overview

Mission

Binkley Preschool believes that all children regardless of ethnic,cultural or socio-economic isues have deserve a childhood education.

Binkley Preschool believes that all children regardless of ethnic, cultural or socio-economic backgrounds, deserve a high quality preschool experience. At Binkley Preschool, we believe that children should be allowed to be children. We foster a loving, nurturing, play based environment that is challenging and stimulating, but not frustrating. Our goal is to give children a solid foundation upon which to build their education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$0$185,049▲ $185,049
Savings and Temporary Cash Investments-$182,429-
Cash and Non-Interest-Bearing Accounts-$33,360-
Land, Buildings, and Equipment, Net$0$1,479▲ $1,479
Accounts Receivable-$1,038-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$0$218,306▲ $218,306
Liabilities
Deferred Revenue-$33,257-
Total Liabilities$0$33,257▲ $33,257
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$185,049▲ $185,049
Total Liabilities and Net Assets / Fund Balance$0$218,306▲ $218,306

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,479$25$1,504
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Kim BuckleyPreschool DirectorPT$23,068$23,068

Board Members and Trustees

NameTitle
Katie StewartChair
Ali MillerVice-Chair
Jenn ShermanAssistant Registrar
Karen LongChurch Liaison
Erin TilleyFundraising
Amy BornscheinParent Coordinator
Max JuryParent Coordinator
Audrey BrittonRegistrar
Tracey Lehman-HadleyScholarship
Lindsey BennettSecretary
XiaoMeng ZhouTreasurer
Holly BarnesVice-Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$269,685
Investment Income
$201
Other Revenue
$1,399
Change in Net Assets
$41,270
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$195,729
Other Expenses$23,976
Grants and Similar Amounts Paid$10,310
Total Fundraising Expense$682
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$154,988--$154,988
Current Officers, Directors, Trustees, and Key Employees$12,540$18,183$627$31,350
Grants to Domestic Individuals$10,310--$10,310
Payroll Taxes$8,443$916$32$9,391
Fees for Services Legal-$5,556-$5,556
Fees for Services Other$3,050--$3,050
Insurance-$2,771-$2,771
Occupancy$468$678$23$1,169
Fees for Services Accounting-$1,005-$1,005
All Other Expenses$225$284-$509
Information Technology-$394-$394
Office Expenses$296$74-$370
Other Expenses$349$349-$349
Depreciation Depletion-$25-$25
Total Functional Expenses$199,098$30,235$682$230,015
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$7,746
Fundraising Direct Expenses$6,347
Professional Fundraising Fees$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
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, Part VI, Section B, line 11B

Willow Tree Preschool (dba Binkley Preschool) will hire an independent accountant to prepare the organization's 990. Upon completion, the 990 will be reviewed by the Bookkeeper, Executive Director and Board Chair. The Board Chair will sign off on approval of the final 990 submission to the IRS.

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

On an annual basis (at the first board meeting of the school-year) the entire board discusses and signs a conflict of interest policy that is embedded within our Confidentiality Statement. Board members are to excuse themselves from meetings/discussions if there is any COI whether it affects the board member or others that they may have a relationship with. The Chair evaluates all discussions that are brought to the Board Meetings, and if at any point she sees there is a COI and the person remains in the room, she will ask them to excuse themselves for the remainder of the discussion.

Form 990, Part VI, Section C, line 19

The Preschool makes its governing documents available upon request.

Filing and Contact Details

Filer

Filer Name
Willow Tree Preschool
EIN
82-2980265
Phone
9199681427
Address
1712 Willow Drive, Chapel Hill, NC 27514
Doing Business As
Binkley Preschool

Signing Officer

Name
Lindsey Bennett
Title
Board Chair
Phone
9199681427
Signed
2019-01-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lindsey Bennett
Formed
2017
Legal Domicile
Nc
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
21

Preparer

Firm
Stancil PC
Address
4909 Windy Hill Drive, Raleigh, NC 27609
Preparer
Susan Stillings
Phone
9198721260
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

Binkley Preschool operated under Olin T. Binkley Baptist Church for years before obtaining a separate non-profit status as of September 21, 2017. This amount represents Binkley Preschool's net assets as of September 20, 2017 that was carried over from when its operations were under the church. 143,779.

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IRS990/ActivityOrMissionDesc0Binkley Preschool believes that all children regardless of ethnic, cultural or socio-economic backgrounds, deserve a high quality preschool experience. At Binkley Preschool, we believe that children should be allowed to be children. We foster a loving, nurturing, play based environment that is challenging and stimulating, but not frustrating. Our goal is to give children a solid foundation upon which to build their education.
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IRS990/Desc0Binkley Preschool is a half-day preschool, serving children ages 2, 3, and 4. The preschool is a play-based education that strives to foster a loving, nurturing, environment that is challenging, stimulating, and age appropriate. Our goal is to give our preschoolers a solid foundation upon which to build their education. In addition to our classroom curriculum, Binkley offers an introduction to music, physical education, drama, and Spanish. Also, each day features a dedicated block of unstructured, outdoor play. The 2-year-old program is a 12:2 student/teacher ratio and is offered either Monday/Wednesday/Friday or Tuesday/Thursday 9:00am-12:00pm The 3-year-old program is a 14:2 student/teacher ratio and is offered either Monday/Wednesday/Friday or Tuesday/Thursday 9:00am-12:00pm with an optional additional hour for lunch and play. The 4-year-old program is a 16:2 student/teacher ratio and is offered Monday-Friday 9:00am-12:00pm with an optional additional hour for lunch and play. We currently have 83 students (1 open 4-year-old spot) enrolled with 6 classroom teachers, 3 extracurricular teachers, and 1 director.
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IRS990/Form990PartVIISectionAGrp/PersonNm12Kim Buckley
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IRS990/MissionDesc0Binkley Preschool believes that all children regardless of ethnic, cultural or socio-economic backgrounds, deserve a high quality preschool experience. At Binkley Preschool, we believe that children should be allowed to be children. We foster a loving, nurturing, play based environment that is challenging and stimulating, but not frustrating. Our goal is to give children a solid foundation upon which to build their education.
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IRS990/ProgramServiceRevenueGrp/Desc0Tuition
IRS990/ProgramServiceRevenueGrp/Desc1Lunch Bunch Income
IRS990/ProgramServiceRevenueGrp/Desc2Supply Fees
IRS990/ProgramServiceRevenueGrp/Desc3Summer Camp Tuition
IRS990/ProgramServiceRevenueGrp/Desc4Registration Fees
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0235788
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt113750
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt29422
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt35870
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt44475
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0235788
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt113750
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt29422
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt35870
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt44475
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYExcessBenefitTransInd00
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt041270
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0269685
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0185049
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0182429
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt01479
IRS990ScheduleD/EquipmentGrp/DepreciationAmt025
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01504
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01479
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd00
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd00
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The School's admission policy is detailed on the website.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt010310
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Scholarships
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt08
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0The scholarship program is a year-round program. Families who need financial help can apply for it at any time around the year. Families who apply for the scholarship need to submit the scholarship application form to the Scholarship Chair. Families applying will then need to provide the most recent two years' tax return forms. After the financial data is collected, the Scholarship Chair will calculate 6% of the family's monthly income. If the amount is more than the tuition, the family does not qualify. If it is less than the tuition, we will compare it to the amount they can pay per month (this data is in the scholarship application form) and pick the amount the family should pay every month. The shortfall will be the scholarship award. Generally, for 2's and 3's classes, if the family applies for scholarship and qualifies, the kids should be in T/Th classes, no matter their first choice.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Willow Tree Preschool (dba Binkley Preschool) will hire an independent accountant to prepare the organization's 990. Upon completion, the 990 will be reviewed by the Bookkeeper, Executive Director and Board Chair. The Board Chair will sign off on approval of the final 990 submission to the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1On an annual basis (at the first board meeting of the school-year) the entire board discusses and signs a conflict of interest policy that is embedded within our Confidentiality Statement. Board members are to excuse themselves from meetings/discussions if there is any COI whether it affects the board member or others that they may have a relationship with. The Chair evaluates all discussions that are brought to the Board Meetings, and if at any point she sees there is a COI and the person remains in the room, she will ask them to excuse themselves for the remainder of the discussion.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Preschool makes its governing documents available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Binkley Preschool operated under Olin T. Binkley Baptist Church for years before obtaining a separate non-profit status as of September 21, 2017. This amount represents Binkley Preschool's net assets as of September 20, 2017 that was carried over from when its operations were under the church. 143,779.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part XI, line 9:
IRS990ScheduleR/AssetExchangeInd00
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IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Olin T Binkley Baptist Church
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0560791549
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0170(b)(1)(A)(i)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Church
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01712 Willow Dr
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Chapel Hill
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd027514
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IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt077766
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Olin T Binkley Baptist Church
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0P
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt0218306
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt0218306
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0682
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt030235
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0199098
IRS990/TotalFunctionalExpensesGrp/TotalAmt0230015
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt033257
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IRS990/TotalLiabilitiesGrp/EOYAmt033257
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0185049

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