Civic Intelligence

The Learning Loft Foundation Inc

990 • Fiscal year 2021 • EIN 83-1015208

Jul 01, 2020 to Jun 30, 2021 • Filed on Jul 16, 2021

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

98th percentile

1.87x

Higher debt load relative to assets than 98% of similar nonprofits.

2021 filings • NTEE B • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

88th percentile

0.46x

Higher debt load relative to revenue than 88% of similar nonprofits.

2021 filings • NTEE B • $500k-$1M nonprofits • Source year 2021

Net Margin

15th percentile

-14%

Higher net margin than 15% of similar nonprofits.

2021 filings • NTEE B • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

86th percentile

$88,500

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 13.4% of source-year revenue.

2021 filings • NTEE B • $500k-$1M nonprofits • Source year 2021

Asset Growth

87th percentile

81%

Faster asset growth than 87% of similar nonprofits.

2021 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

38th percentile

0.5%

Faster revenue growth than 38% of similar nonprofits.

2021 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets98th percentile

Assets

Up

$163,342

Up $72,892 (+81%) from 2020

Net Assets

Down

-$141,679

Down $89,968 (-174%) from 2020

Liabilities

Up

$305,021

Up $162,860 (+115%) from 2020

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin15th percentile

Revenue

Up

$661,889

Up $3,098 (+0.5%) from 2020

Expenses

Up

$751,857

Up $75,869 (+11%) from 2020

Net Income

Down

-$89,968

Down $72,771 (-423%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth87th 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

2021

Assets$163,342
Liabilities$305,021
Net Assets-$141,679
Open 2021 Filing

Operations Trend

Revenue Growth38th 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

2021

Revenue$661,889
Expenses$751,857
Net Income-$89,968
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Jul 16, 2021
Return Version
2020v4.0
Gross Receipts
$661,889
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$76,476$147,909▲ $71,433
Loans From Officers Directors$65,000$65,000→ $0
Land, Buildings, and Equipment, Net$3,974$5,433▲ $1,459
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$90,450$163,342▲ $72,892
Other Assets Total$10,000$10,000→ $0
Liabilities
Unsecured Notes Loans Payable$77,160$240,020▲ $162,860
Other Liabilities$1$1→ $0
Total Liabilities$142,161$305,021▲ $162,860
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-51,711$-141,679▼ $89,968
Total Net Assets Fund Balance$-51,711$-141,679▼ $89,968
Total Liabilities and Net Assets / Fund Balance$90,450$163,342▲ $72,892

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$2,384$2,584$4,968
Equipment$3,049$161$3,210
Other Assets Org$10,000--
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Katherine SmithVice PresidentPT$88,500$88,500
Sheila Harrington ComponoDirectorPT$86,500$86,500
Agnes HarringtonPresidentPT$31,200$31,200

Board Members and Trustees

NameTitle
Angela GuatesllaDirector
Krista FeeneyDirector
Rachael McnamaraDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$77,160
Program Service Revenue
$584,729
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-89,968
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$531,530
Other Expenses$220,327
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$281,183--$281,183
Current Officers, Directors, Trustees, and Key Employees-$206,200-$206,200
Occupancy$99,128$14,032-$113,160
Payroll Taxes$25,468$18,679-$44,147
All Other Expenses$17,972$2,449-$20,421
Insurance$15,772$2,357-$18,129
Other Expenses$7,088$1,004-$8,092
Fees for Services Accounting-$6,500-$6,500
Advertising$2,428--$2,428
Depreciation Depletion$1,751--$1,751
Total Functional Expenses$500,636$251,221$0$751,857
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
2021-07-16
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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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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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
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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.
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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
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART I , LINE 1 DESCRIPTION OF ORGANIZATION MISSION :
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$163,342
Liabilities
$305,021
Net assets
-$141,679
Revenue
$661,889
Expenses
$751,857
Net income
-$89,968
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