Learning First Foundation Inc
- Assets
- $16.8m
- Revenue
- $919.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Worcester, MA
- Founding
- 09/1996
- Data as of
- 06/2022
- EIN
- 04-3319920
Organization Overview
Learning First Foundation Inc is located in Worcester, MA. The organization was established in 1996. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Learning First Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Learning First Foundation Inc generated $919.0k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $332.6k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (12.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
LEARNING FIRST FOUNDATION, INC. IS COMMITTED TO SUPPORTING THE LEARNING FIRST CHARTER PUBLIC SCHOOL'S EFFORTS TO IMPROVE THE QUALITY OF PUBLIC EDUCATION IN MASSACHUSETTS. LEARNING FIRST FOUNDATION WILL DO THIS BY HOLDING THE BUILDING, RAISING FUNDS, AND ENGAGING THE GREATER COMMUNITY IN ACTIVITIES TO HELP STUDENTS, FAMILIES, AND TEACHERS.
Describe the Organization's Program Activity:
OWNED, OPERATED, MAINTAINED AND IMPROVED REAL ESTATE FOR THE OPERATION AND MAINTENANCE OF THE LEARNING FIRST CHARTER PUBLIC SCHOOL. WE ALSO STIMULATED THE DEVELOPMENT OF INNOVATIVE PROGRAMS AT THE LEARNING FIRST CHARTER PUBLIC SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cynthia Krackovic Director Of Finance | Officer | 4 | $14,471 |
Shantie Prashad Treasurer | OfficerTrustee | 1 | $0 |
Leo Flanagan Superintendent/president/chair | OfficerTrustee | 1 | $0 |
Rosie Fayard Secretary | OfficerTrustee | 1 | $0 |
Gillian Macdonald Trustee | Trustee | 1 | $0 |
Jasmine-Hollis-Gadbois Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Llb Architects Architect | 6/29/22 | $636,312 |
Anser Advisory Llc Owner Project Manager | 6/29/22 | $219,261 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $95,140 |
| Noncash contributions included in lines 1a–1f | $16,037 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $95,140 |
| Total Program Service Revenue | $406,900 |
| Investment income | $401 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $416,573 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $919,014 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,037 |
| Grants and other assistance to domestic individuals. | $150 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $15,952 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,463 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $61,600 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $57,247 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $126,127 |
| Insurance | $25,025 |
| All other expenses | $0 |
| Total functional expenses | $332,560 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $289,218 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $14,667 |
| Net Land, buildings, and equipment | $15,750,591 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $766,346 |
| Total assets | $16,820,822 |
| Accounts payable and accrued expenses | $2,921,166 |
| Grants payable | $0 |
| Deferred revenue | $5,332,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,171,936 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $13,425,102 |
| Net assets without donor restrictions | $3,395,720 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $16,820,822 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Learning First Foundation Inc has recieved totaling $28.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $28 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Worcester City Campus Corporation Shrewsbury, MA | $408,230,540 | $37,285,221 |
New Visions For Public Schools Inc New York, NY | $79,613,761 | $33,356,068 |
Naf New York, NY | $28,094,768 | $18,819,868 |
Zearn Inc New York, NY | $36,079,361 | $33,394,711 |
Uchcfc Circle Road Corp Farmington, CT | $184,016,128 | $11,665,579 |
United Community Schools Inc New York, NY | $17,599,679 | $9,226,471 |
Friends Of Hellenic Classical Charter Schools Inc Brooklyn, NY | $82,915,888 | $678,941 |
Massachusetts Green High Performance Computing Center Inc Holyoke, MA | $16,995,884 | $7,668,165 |
Student Achievement Partners Inc New York, NY | $8,247,794 | $7,455,301 |
Vmc Indemnity Company Inc Burlington, VT | $100,648,707 | $14,545,433 |
Uka Facilities Foundation Inc New York, NY | $167,163,417 | $25,000 |
Hill For Literacy Inc Woburn, MA | $4,985,114 | $5,142,068 |