Promised Learning Center Ltd
- Assets
- $56.8k
- Revenue
- $364.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Bethel, NC
- Founding
- 03/2000
- Data as of
- 12/2023
- EIN
- 56-2161697
Organization Overview
Promised Learning Center Ltd is located in Bethel, NC. The organization was established in 2000. According to its NTEE Classification (P33) the organization is classified as: Child Day Care, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Promised Learning Center Ltd 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, Promised Learning Center Ltd generated $364.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.6% each year . All expenses for the organization totaled $353.2k during the year ending 12/2023. While expenses have increased by 14.3% per year over the past 7 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
TO PROVIDE CHILD CARE THAT ENHANCES COGNITIVE SOCIAL CREATIVE MOTOR SKILLS OF EACH CHILD WHILE PARENTS ARE AT WORK OR IN SCHOOLE FULL TIME
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROMISED LEARNING CENTER LTD PROVIDES CARE TO OVER 40 CHILDREN WHILE PARENTS WORK OR ATTEND SCHOOL. THE CHILDCARE IS A STAR RATED CENTER.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $364,687 |
| Investment income | $14 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $364,701 |
| 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. | $65,709 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $151,749 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $16,544 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $80 |
| Fees for services: Accounting | $4,190 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $100 |
| Advertising and promotion | $0 |
| Office expenses | $4,812 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $30,691 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,108 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,409 |
| Insurance | $9,949 |
| All other expenses | $29,279 |
| Total functional expenses | $353,169 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,081 |
| 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 | $0 |
| Net Land, buildings, and equipment | $37,741 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $56,822 |
| Accounts payable and accrued expenses | $6,280 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,280 |
| Net assets without donor restrictions | $50,542 |
| 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 | $56,822 |