Civic Intelligence

The Learning Loft Foundation Inc

990 • Fiscal year 2020 • EIN 83-1015208

Jul 01, 2019 to Jun 30, 2020 • Filed on Sep 14, 2020

Organization ProfileN/A
13 South 6th StNew Hyde Park, NY 11040

(516) 775-3820

Siviq Scores

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

Liabilities / Assets

97th percentile

1.57x

Higher debt load relative to assets than 97% of similar nonprofits.

2020 filings • NTEE B • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

74th percentile

0.22x

Higher debt load relative to revenue than 74% of similar nonprofits.

2020 filings • NTEE B • $500k-$1M nonprofits • Source year 2020

Net Margin

33rd percentile

-2.6%

Higher net margin than 33% of similar nonprofits.

2020 filings • NTEE B • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

74th percentile

$62,300

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 9.5% of source-year revenue.

2020 filings • NTEE B • $500k-$1M nonprofits • Source year 2020

Asset Growth

93rd percentile

197%

Faster asset growth than 93% of similar nonprofits.

2020 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

71st percentile

11%

Faster revenue growth than 71% of similar nonprofits.

2020 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets97th percentile

Assets

Up

$90,450

Up $59,964 (+197%) from 2019

Net Assets

Down

-$51,711

Down $17,197 (-50%) from 2019

Liabilities

Up

$142,161

Up $77,161 (+119%) from 2019

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin33rd percentile

Revenue

Up

$658,791

Up $67,411 (+11%) from 2019

Expenses

Up

$675,988

Up $42,694 (+6.7%) from 2019

Net Income

Up

-$17,197

Up $24,717 (+59%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth93rd percentile

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

$1.0M$500K$0-$500KAssets 2018: $17,400Liabilities 2018: $10,0002018Assets 2019: $30,486Liabilities 2019: $65,000Net Assets 2019: -$34,5142019Assets 2020: $90,450Liabilities 2020: $142,161Net Assets 2020: -$51,7112020Assets 2021: $163,342Liabilities 2021: $305,021Net Assets 2021: -$141,6792021Assets 2022: $474,227Liabilities 2022: $510,890Net Assets 2022: -$36,6632022Assets 2023: $240,657Liabilities 2023: $565,000Net Assets 2023: -$324,3432023Assets 2024: $104,208Liabilities 2024: $556,709Net Assets 2024: -$452,5012024Assets 2025: $187,805Liabilities 2025: $545,506Net Assets 2025: -$357,7012025

Highlighted filing

2020

Assets$90,450
Liabilities$142,161
Net Assets-$51,711
Open 2020 Filing

Operations Trend

Revenue Growth71st percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2018: $17,400Expenses 2018: $10,000Net Income 2018: $7,4002018Revenue 2019: $591,380Expenses 2019: $633,294Net Income 2019: -$41,9142019Revenue 2020: $658,791Expenses 2020: $675,988Net Income 2020: -$17,1972020Revenue 2021: $661,889Expenses 2021: $751,857Net Income 2021: -$89,9682021Revenue 2022: $1,011,504Expenses 2022: $849,386Net Income 2022: $162,1182022Revenue 2023: $682,474Expenses 2023: $936,387Net Income 2023: -$253,9132023Revenue 2024: $958,824Expenses 2024: $1,086,982Net Income 2024: -$128,1582024Revenue 2025: $1,000,637Expenses 2025: $905,837Net Income 2025: $94,8002025

Highlighted filing

2020

Revenue$658,791
Expenses$675,988
Net Income-$17,197
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Sep 14, 2020
Return Version
2019v5.0
Gross Receipts
$658,791
Mission and Program Overview

Mission

The learning loft foundation is a pre-school/daycare center that provides a loving and nurturing environment for children 18 months to 5 years old. The goal of the organization is to provide excellent early childhood education & child care for parents who need to work to get by in today's economic environment.

Loving and nurturing pre-school/daycare center for working parents

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$20,486$76,476▲ $55,990
Loans From Officers Directors$65,000$65,000→ $0
Land, Buildings, and Equipment, Net-$3,974-
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$30,486$90,450▲ $59,964
Other Assets Total$10,000$10,000→ $0
Liabilities
Unsecured Notes Loans Payable-$77,160-
Other Liabilities-$1-
Total Liabilities$65,000$142,161▲ $77,161
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-34,514$-51,711▼ $17,197
Total Net Assets Fund Balance$-34,514$-51,711▼ $17,197
Total Liabilities and Net Assets / Fund Balance$30,486$90,450▲ $59,964

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$3,974$994$4,968
Other Assets Org$10,000--
Compensation and Service Providers
Top Officer Pay74th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Katherine SmithVice PresidentPT$62,300$62,300
Sheila Harrington ComponoDirectorPT$62,300$62,300
Agnes HarringtonPresidentPT$20,120$20,120

Board Members and Trustees

NameTitle
Angela GuatesllaDirector
Krista FeeneyDirector
Rachael McnamaraDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$658,791
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-17,197
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$468,770
Other Expenses$207,218
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$284,170--$284,170
Current Officers, Directors, Trustees, and Key Employees-$144,720-$144,720
Occupancy$99,128$14,032-$113,160
Payroll Taxes$34,935$4,945-$39,880
All Other Expenses$13,875$1,715-$15,590
Insurance$9,480$1,416-$10,896
Fees for Services Accounting-$9,800-$9,800
Advertising$6,230--$6,230
Other Expenses$4,024$570-$4,594
Depreciation Depletion$994--$994
Fees for Services Legal-$360-$360
Total Functional Expenses$497,420$178,568$0$675,988
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$65,000$65,000→ $0
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Rounding$1
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
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, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“Agnes harrington, president, katherine smith, vice president, and sheila compono, director have a family relationship.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Form 990 is prepared by an accounting firm and is then provided to the learning loft foundation's board of directors to review and approve prior to the return being filed.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Board members and management are asked to disclose any possible conflicts of interest at least annually. If any board member should have any conflict, the board member shall recuse from any deliberation in the transaction.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The process for determining compensation for officers is determined by the board members based on information from other organizations.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The governing documents, conflict of interest policy and financial statements are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
The Learning Loft Foundation Inc
EIN
83-1015208
Phone
5167753820
Address
13 SOUTH 6TH ST, NEW HYDE PARK, NY 11040

Signing Officer

Name
Agnes Harrington
Title
President
Signed
2020-09-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Agnes Harrington
Formed
2018
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
3
Employees
25

Preparer

Firm
Martin R Egre CPA & Assoc
Address
585 STEWART AVENUE SUITE 326, GARDEN CITY, NY 11530
Preparer
Martin Egre CPA
Phone
5162221890
Supplemental Narrative

Additional Explanations

FORM 990, PART I , LINE 1 DESCRIPTION OF ORGANIZATION MISSION :

“The learning loft foundation is a pre-school/daycare center that provides a loving and nurturing environment for children 18 months to 5 years old. The goal of the organization is to provide excellent early chilhood education & child care for parents who need to work to get by in today's economic enviroment.”

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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt065000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0KATE SMITH
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IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0SCHEDULE L, PART II, LOANS TO AND FROM INTERESTED PERSONS:(A) NAME OF PERSON: KATE SMITH(B) RELATIONSHIP WITH ORGANIZATION: BOARD MEMBER(C) PURPOSE OF LOAN: TO SUPPORT INITIAL EXPENSES OF THE ORGANIZATION
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule L, Part V Supplemental Information
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AGNES HARRINGTON, PRESIDENT, KATHERINE SMITH, VICE PRESIDENT, AND SHEILA COMPONO, DIRECTOR HAVE A FAMILY RELATIONSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS PREPARED BY AN ACCOUNTING FIRM AND IS THEN PROVIDED TO THE LEARNING LOFT FOUNDATION'S BOARD OF DIRECTORS TO REVIEW AND APPROVE PRIOR TO THE RETURN BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD MEMBERS AND MANAGEMENT ARE ASKED TO DISCLOSE ANY POSSIBLE CONFLICTS OF INTEREST AT LEAST ANNUALLY. IF ANY BOARD MEMBER SHOULD HAVE ANY CONFLICT, THE BOARD MEMBER SHALL RECUSE FROM ANY DELIBERATION IN THE TRANSACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PROCESS FOR DETERMINING COMPENSATION FOR OFFICERS IS DETERMINED BY THE BOARD MEMBERS BASED ON INFORMATION FROM OTHER ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE LEARNING LOFT FOUNDATION IS A PRE-SCHOOL/DAYCARE CENTER THAT PROVIDES A LOVING AND NURTURING ENVIRONMENT FOR CHILDREN 18 MONTHS TO 5 YEARS OLD. THE GOAL OF THE ORGANIZATION IS TO PROVIDE EXCELLENT EARLY CHILHOOD EDUCATION & CHILD CARE FOR PARENTS WHO NEED TO WORK TO GET BY IN TODAY'S ECONOMIC ENVIROMENT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART I , LINE 1 DESCRIPTION OF ORGANIZATION MISSION :
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ReturnHeader/BuildTS02021-01-29 14:40:06Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0AGNES HARRINGTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-09-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE LEARNING LOFT FOUNDATION INC
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$90,450
Liabilities
$142,161
Net assets
-$51,711
Revenue
$658,791
Expenses
$675,988
Net income
-$17,197
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.19$0.55$0.36$1.00$0.91$0.09
2024Detailed filing. Detailed filing data is available for this year.$0.10$0.56$0.45$0.96$1.09$0.13
2023Detailed filing. Detailed filing data is available for this year.$0.24$0.57$0.32$0.68$0.94$0.25
2022Detailed filing. Detailed filing data is available for this year.$0.47$0.51$0.04$1.01$0.85$0.16
2021Detailed filing. Detailed filing data is available for this year.$0.16$0.31$0.14$0.66$0.75$0.09
2020Detailed filing. Detailed filing data is available for this year.$0.09$0.14$0.05$0.66$0.68$0.02
2019Summary only. Only limited summary data is available for this year.$0.03$0.07$0.03$0.59$0.63$0.04
2018Summary only. Only limited summary data is available for this year.$0.02$0.01$0.02$0.01$0.01