Bright Prospects Cooperative Preschool
- Assets
- $73.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 03/1951
- Data as of
- 12/2023
- EIN
- 41-0692220
Organization Overview
Bright Prospects Cooperative Preschool is located in Minneapolis, MN. The organization was established in 1951. According to its NTEE Classification (B21) the organization is classified as: Preschools, 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. Bright Prospects Cooperative Preschool 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 12/2023, Bright Prospects Cooperative Preschool generated $91.5k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $82.2k during the year ending 12/2023. While expenses have increased by 5.4% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
BRIGHT PROSPECTS IS A COOPERATIVE, NONDISCRIMINATORY STATE-LICENSED PRESCHOOL FOR CHILDREN 33 MONTHS TO 5 YEARS.PROGRAM ACCOMPLISHMENTS FOR SEPTEMBER 2022 - MAY 2023: WE PROVIDED PRESCHOOL EDUCATION FOR 23 STUDENTS DURING THE 2022-2023 SCHOOL YEAR. CLASSES WERE HELDIN PERSON AT THE PRESCHOOLS CLASSROOM INSIDE HOLY TRINITY LUTHERAN CHURCH ON WEEKDAY MORNINGS FROM SEPTEMBER THROUGH MAY. FOLLOWING STATE AND LOCAL COVID GUIDELINES, WITH INPUT FROM OUR MEMBERSHIP, WE MAINTAINED AN INDOOR MASKING POLICY FOR OUR STUDENTS AND TEACHERS AS PART OF OUR INTERNAL COVID POLICY. WE HAD FULL ENROLLMENT OF 15 STUDENTS ON WEDNESDAY THROUGH FRIDAY, BUT WERE UNDER-ENROLLED ON MONDAYS AND TUESDAYS. WE FILLED ONE OF OUR OPEN MONDAY/TUESDAY SLOTS BY OFFERING FREE ENROLLMENT, ALONG WITH A WAIVER OF MEMBERSHIP RESPONSIBILITIES, TO A STUDENT WHO HAD RECENTLY ARRIVED TO THE US WITH HIS FAMILY AS REFUGEES FROM AFGHANISTAN.OUR MEMBERSHIP APPROVED AND WE IMPLEMENTED TWO MAJOR CHANGES TO OUR SCHOOLSOPERATIONS WHICH WILL TAKE EFFECT IN SEPTEMBER 2023: FIRST, WE DEVELOPED A SLIDING FEE SCALE FOR OUR TUITION; AND SECOND, WE IMPLEMENTED AN OPTIONAL EXTENDED SCHOOL DAY (TO 2:00 P.M. RATHER THAN NOON) ON WEDNESDAYS THROUGH FRIDAYS. WE HOPE THAT THESE CHANGES WILL MAKE OUR SCHOOL MORE ACCESSIBLE TO A MORE DIVERSE SET OF FAMILIES IN OUR COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Winger Co-Chair | 1 | $0 | |
Joseph Reid Co-Chair | 2 | $0 | |
Kristen Sundquist Secretary | 1 | $0 | |
Jessica Arck Treasurer | 8 | $0 | |
Becky Nelson Director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,577 |
| Total Program Service Revenue | $81,128 |
| Membership dues | $0 |
| Investment income | $233 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $580 |
| Other Revenue | $0 |
| Total Revenue | $91,518 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $58,805 |
| Professional fees and other payments to independent contractors | $2,113 |
| Occupancy, rent, utilities, and maintenance | $11,706 |
| Printing, publications, postage, and shipping | $53 |
| Other expenses | $9,526 |
| Total expenses | $82,203 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $61,074 |
| Other assets | $0 |
| Total assets | $73,219 |
| Total liabilities | $0 |
| Net assets or fund balances | $73,219 |