Overview
What is Cornerstone Day Care Center Inc?
Cornerstone Day Care Center Inc, situated in Brooklyn, New York, is a nonprofit organization primarily focused on providing day care services to young children. The center receives funding through a grant from the New York State Administration for Children's Services. Their mission is to offer a safe and nurturing environment for the children in their care, catering to pre-schoolers and toddlers from 8:00 AM to 6:00 PM, Monday through Friday. With a dedicated workforce of 32 employees, Cornerstone Day Care Center Inc strives to ensure the best possible care for the children under its supervision.
What are the reviews and ratings of this charity?
Charity Navigator Rating 79% - Three-Star out of Four Star Rating
Cornerstone Day Care Center Inc received a Three-Star rating from Charity Navigator, indicating a solid commitment to accountability and finance. The charity's score reflects a strong performance in governance aspects, achieving full marks in areas such as independent board member composition and financial oversight. This suggests a well-structured organization dedicated to responsible management of its resources.
The organization excels in financial accountability, boasting a program expense ratio of 100%, which indicates that all expenses are directed towards its programs. It also maintains comprehensive policies around conflict of interest, whistleblower protection, and document retention, showcasing its commitment to transparency and ethical governance practices.
However, the charity faces a limitation regarding its liabilities to assets ratio, which stands at 81.73%. This high ratio suggests that a significant portion of its assets could be tied up in liabilities, potentially impacting its financial stability. Overall, while Cornerstone Day Care Center Inc demonstrates strong governance and financial practices, it may need to address its liabilities to enhance its overall financial health.
This AI summary has been generated from information found on Charity Navigator.
Is Cornerstone Day Care Center Inc legitimate?
Cornerstone Day Care Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cornerstone Day Care Center Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $484,547
For more financial information, click here
What is the mission statement of Cornerstone Day Care Center Inc?
Cornerstone Day Care Center Inc's mission is centered around providing a safe and nurturing environment for the children in its care. This is achieved through the day care services offered to pre-schoolers and toddlers, from 8:00 AM to 6:00 PM, Monday through Friday. The day care center operates under a grant from the New York State Administration for Children's Services. The primary focus is on ensuring the well-being and development of the children under its care, providing them with a secure and supportive environment that fosters growth and learning.
Who is the CEO of Cornerstone Day Care Center Inc?
Wayne Boyce is the Member of Cornerstone Day Care Center Inc.
What is the revenue of Cornerstone Day Care Center Inc?
Cornerstone Day Care Center Inc's revenue in 2022 was $940,148.
Who are the executives of Cornerstone Day Care Center Inc and what are their salaries?
The average compensation at Cornerstone Day Care Center Inc during 2022 was $15,142. There are 32 employees at Cornerstone Day Care Center Inc.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Cornerstone Day Care Center Inc?
Cornerstone Day Care Center Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Cornerstone Day Care Center Inc
Cornerstone Day Care Center Inc is committed to providing a safe and nurturing environment for the pre-schoolers and toddlers in its care. The nonprofit organization aims to achieve this by offering daycare services to these young children, ensuring their well-being and development from Monday through Friday, between 8:00 AM and 6:00 PM. The mission of Cornerstone Day Care Center Inc is centered around providing a secure and caring setting, where children can learn, grow, and thrive under the supervision of qualified personnel. The organization receives funding for its operations through a grant from the New York State Administration for Children's Services.
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Impact
July, 2024
Cornerstone Day Care Center Inc provides childcare services to pre-schoolers and toddlers in Brooklyn, NY, from Monday through Friday, 8:00 am to 6:00 pm. Their mission is to provide a safe and nurturing environment for the children in their care. This organization has a direct impact on the community by catering to the needs of working parents and ensuring that children receive quality care and education during their formative years. By offering these essential services, Cornerstone Day Care Center Inc plays a crucial role in supporting families and promoting the well-being and development of young children.
This information is meant to be a general summary of Cornerstone Day Care Center Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $95,341
- Gross Receipts: $940,148
Assets and Liabilities:
- Total Assets: $573,299
- Total Liabilities: $468,601
- Net Assets: $104,698
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PARENT FEE INCOME
Revenue
$95,341
Organization Details
Founding Year
1968
Phone
(718) 574-4300Principal Officer
Wayne Boyce
Main Address
289 Lewis Avenue, Brooklyn, NY, 11221
NTEE Category
Code: P33 - Human services
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