Early Learning Property Management Inc
- Assets
- $26.4m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 1
- Location
- Atlanta, GA
- Founding
- 02/2000
- Data as of
- 12/2021
- EIN
- 58-2491036
Organization Overview
Early Learning Property Management Inc is located in Atlanta, GA. The organization was established in 2000. According to its NTEE Classification (L11) the organization is classified as: Single Organization Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Early Learning Property Management 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 12/2021, Early Learning Property Management Inc generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.8% each year . All expenses for the organization totaled $1.4m during the year ending 12/2021. While expenses have increased by 0.6% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE CLASSROOMS FOR EARLY LEARNING PROGRAMS HELPING DISADVANTAGED YOUTH IN GEORGIA THROUGH THE PURCHASE OR LEASE AND RENOVATION OR CONSTRUCTION OF CLASSROOM FACILITIES. THE FACILITIES ARE LEASED AT A BELOW-MARKET RATE TO EARLY LEARNING PROGRAMS, SUCH AS HEADSTART, THAT ARE 501(C)(3) ORGANIZATIONS. FACILITIES MAY ALSO BE PROVIDED TO EARLY LEARNING PROGRAMS THROUGH SALES, DIRECT FINANCING LEASES, OR DEVELOPMENT/CONSTRUCTION AGREEMENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PERFORMS TWO RELATED FUNCTIONS. THE FIRST IS TO PURCHASE OR BUILD FACILITIES FOR EARLY LEARNING PROGRAMS RUN BY 501(C)(3) ORGANIZATIONS, SUCH AS HEADSTART. AS OF DECEMBER 31, 2021, THE ORGANIZATION HAS COMPLETED ELEVEN CONSTRUCTION/RENOVATION PROJECTS. UPON COMPLETION OF THE CONSTRUCTION/RENOVATION, THE PROPERTIES ARE LEASED AT A BELOW-MARKET RENT TO 501(C)(3) ORGANIZATIONS WHICH PROVIDE EARLY LEARNING PROGRAMS. SUCH RENT COVERS THE COSTS OF LEASING AND MAINTAINING THE FACILITIES AS WELL AS FUTURE CAPITAL IMPROVEMENTS. AS OF DECEMBER 31, 2021, THE ORGANIZATION HAS LEASED THE ELEVEN COMPLETED PROJECTS.
DURING 2021, THE ORGANIZATION BEGAN A NEW PROGRAM TO COLLABORATE WITH GEEARS: THE GEORGIA EARLY EDUCATION ALLIANCE FOR READY STUDENTS, INC. TO HELP EARLY CHILDHOOD EDUCATION PROVIDERS IMPROVE THE QUALITY OF EARLY LEARNING ENVIRONMENTS BY MAKING GRANTS AVAILABLE FOR SMALL CAPITAL AND MAINTENANCE PROJECTS FOR EXISTING EARLY LEARNING FACILITIES. THE ORGANIZATION WILL USE ITS EXTENSIVE KNOWLEDGE REGARDING THE CONSTRUCTION/RENOVATION OF EARLY LEARNING FACILITIES TO OVERSEE THE CAPITAL AND MAINTENANCE PROJECTS ON BEHALF OF THE GRANT RECIPIENTS.
THE SIBLEY GRANT IS A COMPETITION BETWEEN ONLY THE ELPM CENTERS AS DEEMED BY THE ORIGINAL GIFTING FUNDERS: THE HARLAND FOUNDATION ($100,000) AND THE PITTULLOCH FOUNDATION ($100,000). EACH YEAR THE ELPM CENTERS COMPETE FOR THIS GRANT TO INTRODUCE A NEW PROGRAM TO THEIR EXISTING PROGRAM SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kara Portnell Executive Director | Officer | 40 | $117,395 |
Ron Alston Secretary | OfficerTrustee | 0.1 | $0 |
Mike Riley Finance Committee Chair | OfficerTrustee | 0.1 | $0 |
David Haddow Chairman | OfficerTrustee | 0.1 | $0 |
Jim Beaty Trustee | Trustee | 0.1 | $0 |
Mary Pat Crouch Trustee | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gay Construction Company Construction | 12/30/21 | $127,440 |
Lanier Jones Mechanical Hvac | 12/30/21 | $191,070 |
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 | $1,134,640 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,134,640 |
| Total Program Service Revenue | $1,436,026 |
| Investment income | $57,673 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $78,815 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,751,537 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,000 |
| 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. | $146,744 |
| Compensation of current officers, directors, key employees. | $146,744 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,981 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $44,460 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $28,349 |
| Fees for services: Other | $1,131 |
| Advertising and promotion | $0 |
| Office expenses | $4,282 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,889 |
| Travel | $1,162 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $597,592 |
| Insurance | $67,993 |
| All other expenses | $9,438 |
| Total functional expenses | $1,414,404 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,909,170 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,491 |
| 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 | $4,508 |
| Net Land, buildings, and equipment | $14,386,009 |
| Investments—publicly traded securities | $6,415,954 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $722,749 |
| Total assets | $26,441,881 |
| Accounts payable and accrued expenses | $203,095 |
| Grants payable | $0 |
| Deferred revenue | $84,419 |
| 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 | $76,303 |
| Total liabilities | $363,817 |
| Net assets without donor restrictions | $22,833,417 |
| Net assets with donor restrictions | $3,244,647 |
| 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 | $26,441,881 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Early Learning Property Management Inc has recieved totaling $165,000.
| Awarding Organization | Amount |
|---|---|
James M Cox Foundation Of Ga Inc Atlanta, GA PURPOSE: CAPITAL CAMPAIGN SUPPORT | $75,000 |
The Nell Warren Elkin And William Simpson Elkin Memorial Foundation Orlando, FL PURPOSE: GENERAL | $50,000 |
Zeist Foundation Inc Atlanta, GA PURPOSE: EDUCATION | $35,000 |
Jals Fdn 062398 Ua Atlanta, GA PURPOSE: GENERAL SUPPORT OF ORGANIZATION | $5,000 |
Endowment Analysis
| Beg. Balance | $2,581,170 |
| Earnings | $282,967 |
| Ending Balance | $2,864,137 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cahec Management Inc Raleigh, NC | $9,947,968 | $10,365,211 |
Vsu Auxiliary Services Real Estatefoundation Inc Valdosta, GA | $163,910,452 | $6,694,353 |
Aldersgate Life Plan Services Inc Charlotte, NC | $512,670 | $138,330 |
230 John Wesley Dobbs Boulevard Ventures Inc Atlanta, GA | $13,295,834 | $2,161,354 |
Lotus Endowment Fund Inc Miami Beach, FL | $47,005,317 | $1,449,247 |
Suncoast Manor Foundation Inc Orlando, FL | $5,520,358 | $1,508,546 |
Holston United Methodist Home For Children Foundation Inc Greeneville, TN | $46,120,321 | $4,035,558 |
Baptist Retirement Homes Foundation Winston Salem, NC | $47,968,572 | $2,829,285 |
University Plaza Properties Inc N Miami Beach, FL | $1,282,739 | $2,034,753 |
Ponce Plaza Properties Inc N Miami Beach, FL | $70,707 | -$7,840,527 |
Early Learning Property Management Inc Atlanta, GA | $26,441,881 | $2,751,537 |
Bright Community Trust Inc Clearwater, FL | $17,021,807 | $2,241,118 |