Overview
What is New Hope Development Daycare Center Inc?
New Hope Development Daycare Center Inc is a nonprofit organization situated in Newark, New Jersey, specifically at 49 12th Avenue. The primary mission of this organization is to offer daycare services to children of preschool age whose income falls under the classification of being low income or below certain limits. With a committed team of 13 employees, the daycare center strives to provide essential care and support to these families. While specific details about the extent of their programs and resources are not available, it is clear that New Hope Development Daycare Center Inc is dedicated to making a positive impact on young children and their families in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, Two-Star out of Four Stars
New Hope Development Daycare Center Inc has received a Two-Star rating, indicating a score of 71%. This rating is primarily based on the organization’s accountability and finance practices. The high program expense ratio of 87.80% suggests that a substantial portion of its budget is directed towards its core mission, which is a positive indicator of its operational focus.
However, the rating also highlights several areas for improvement, particularly regarding governance. The charity has no independent board members, which raises concerns about oversight and accountability. Additionally, important policies, such as whistleblower protections and document retention protocols, are missing, which could impact transparency and ethical governance.
While the organization has strengths in financial oversight and asset management, the lack of independent board members and missing essential policies may limit its effectiveness and credibility. Addressing these deficiencies could enhance its overall standing and ensure better governance moving forward.
This AI summary has been generated from information found on Charity Navigator.
Is New Hope Development Daycare Center Inc legitimate?
New Hope Development Daycare Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Hope Development Daycare 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: $58,100
Professional Fundraising Fees: $0
Other Salaries and Wages: $304,182
For more financial information, click here
What is the mission statement of New Hope Development Daycare Center Inc?
New Hope Development Daycare Center Inc is committed to offering daycare services for preschool-aged children whose families fall under the category of having a low income or income below specified limits. The primary objective of this daycare center is to provide a nurturing environment for these children, ensuring their growth and development during their formative years. The center's mission is not just about providing daycare, but it also aims to contribute positively to the lives of families who are financially disadvantaged, offering them a reliable childcare solution. The center's services are designed to support these families in managing their day-to-day responsibilities while ensuring their children receive quality care.
Who is the CEO of New Hope Development Daycare Center Inc?
Michael Ukhueduan is the Pres. of New Hope Development Daycare Center Inc.
What is the revenue of New Hope Development Daycare Center Inc?
New Hope Development Daycare Center Inc's revenue in 2023 was $927,837.
Who are the executives of New Hope Development Daycare Center Inc and what are their salaries?
The average compensation at New Hope Development Daycare Center Inc during 2023 was $27,868. There are 13 employees at New Hope Development Daycare Center Inc.
Here are 3 key members and their salaries:
- Compensation: $58,100
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for New Hope Development Daycare Center Inc?
New Hope Development Daycare Center Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of New Hope Development Daycare Center Inc
New Hope Development Daycare Center Inc is committed to providing daycare services for children of preschool age. This nonprofit organization targets families whose income falls below specific limits, categorizing them as low income. The mission of New Hope Development Daycare Center Inc is to offer a nurturing environment for these young children, ensuring they receive the care and education they need during their formative years. By doing so, the center aims to contribute positively to their future development, setting them up for success in their upcoming school years and beyond.
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Impact
October, 2024
New Hope Development Daycare Center Inc significantly impacts the community by offering vital daycare services for preschool-aged children from low-income families. This support enables parents to pursue employment or education opportunities without the added stress of finding affordable, quality childcare. By ensuring that these children have a safe and nurturing environment, the center promotes early childhood development and learning, which is crucial for their future success. Furthermore, the center fosters a sense of stability and community among families, contributing to better overall well-being and empowering them to break the cycle of poverty. Through its dedicated services, New Hope Development Daycare Center Inc plays a pivotal role in enhancing the quality of life for families in Newark, NJ.
This information is meant to be a general summary of New Hope Development Daycare 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 2023.
- Program Service Revenue: $103,206
- Gross Receipts: $927,837
Assets and Liabilities:
- Total Assets: $675,340
- Total Liabilities: $0
- Net Assets: $675,340
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Tuition
Revenue
$103,206
Organization Details
Founding Year
1999
Phone
(973) 622-2051Principal Officer
Michael Ukhueduan
Main Address
49 12th Avenue, Newark, NJ, 07103
NTEE Category
Code: P33 - Human services
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