Lake Harriet Community Child Care
- Assets
- $616.8k
- Revenue
- $746.7k
- Investments
- $0.0
- Employees
- 18
- Location
- Edina, MN
- Founding
- 02/2008
- Data as of
- 06/2023
- EIN
- 41-1472507
Organization Overview
Lake Harriet Community Child Care, operating under the name Lhccc, is located in Edina, MN. The organization was established in 2008. According to its NTEE Classification (P33) the organization is classified as: Child Day Care, under the broad grouping of Human Services and related organizations. As of 06/2023, Lhccc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lhccc 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 06/2023, Lhccc generated $746.7k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $723.6k during the year ending 06/2023. While expenses have increased by 0.6% per year over the past 8 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
LAKE HARRIET COMMUNITY CHILDCARE'S MISSION IS TO PROVIDE HIGH QUALITY CHILDCARE THAT IS AFFORDABLE AND ATTAINABLE FOR ALL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAKE HARRIET COMMUNITY CHILD CARE IS A MINNESOTA NON-PROFIT, NAEYC (NATIONAL ASSOCIATION FOR THE EDUCATION OF YOUNG CHILDREN) ACCREDITED CHILDCARE CENTER TO PROVIDE QUALITY CHILD CARE TO THE CHILDREN ENROLLED, BEING SENSITIVE TO CULTURAL DIVERSITY AND DIFFERENT ETHNIC BACKGROUNDS. THE ORGANIZATION BELIEVES THAT EACH CHILD NEEDS TO DEVELOP A STRONG CONCEPT OF SELF-WORTH. THEREFORE, TO HELP A CHILD TO BECOME AWARE OF ITS FULL POTENTIAL, THE ORGANIZATION HAS DEVELOPED A ROBUST EDUCATIONAL PROGRAM THAT ENCOURAGES CHILDREN, FROM SIX WEEKS TO SCHOOL AGE, TO BE CREATIVE, EXPLORE THEIR SURROUNDINGS, AND LEARN BY THEIR TRIAL AND ERROR. THE ORGANIZATION STRIVES TO ACHIEVE ITS GOAL BY MAINTAINING A LOW TEACHER TO CHILD RATIO AND ENCOURAGING FAMILIES TO BE INVOLVED IN THE TEACHING PROCESS BY WORKING WITH THE ORGANIZATION'S STAFF AS THEY STRIVE TO PROVIDE THE BEST CARE FOR THEIR CHILDREN. APPROXIMATELY 40 KIDS ARE ENROLLED IN LHCCC PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Meredith Lacount Executive Di | Officer | 40 | $73,016 |
Sarah Averbeck Board Chair | OfficerTrustee | 2 | $0 |
Jordan Seebach Board Treasu | OfficerTrustee | 2 | $0 |
Emily Rostad Director | Trustee | 2 | $0 |
Matt Giudice Director | Trustee | 2 | $0 |
Sandy Heidemann Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $97,953 |
| All other contributions, gifts, grants, and similar amounts not included above | $114,656 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $212,609 |
| Total Program Service Revenue | $548,923 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$14,835 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $746,697 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $76,016 |
| Compensation of current officers, directors, key employees. | $9,122 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $375,375 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $39,188 |
| Payroll taxes | $34,891 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,930 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,057 |
| Advertising and promotion | $4,625 |
| Office expenses | $7,871 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $50,849 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $492 |
| Interest | $3,339 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,997 |
| Insurance | $10,536 |
| All other expenses | $8,631 |
| Total functional expenses | $723,626 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $331,437 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,990 |
| 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 | $1,649 |
| Net Land, buildings, and equipment | $198,205 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $78,508 |
| Total assets | $616,789 |
| Accounts payable and accrued expenses | $23,320 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $30,388 |
| Other liabilities | $104,572 |
| Total liabilities | $158,280 |
| Net assets without donor restrictions | $458,509 |
| 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 | $616,789 |