Overview
What is Preschool Advantage Inc?
Preschool Advantage Inc, established in Morristown, New Jersey, in 1995, is a dedicated nonprofit organization that recognizes the significance of early childhood education. Recognizing the financial limitations of low-income families who earn above the poverty level but still struggle to afford preschool tuition, Preschool Advantage was founded. Their mission is to alleviate this burden by funding half-day preschool tuitions for eligible children in Morris and Somerset County. With a modest staff of four individuals, Preschool Advantage has supported nearly 1,850 children, ensuring that they have a solid educational foundation, thereby opening doors to future opportunities.
Official website here: www.preschooladvantage.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
Preschool Advantage Inc has received an impressive Four-Star rating from Charity Navigator, reflecting its high standards in accountability and finance. With a robust score of 96 in this category, the organization demonstrates effective fiscal management and transparency, evidenced by its independent board consisting entirely of 15 members. The charity excels in various operational areas such as feedback collection and usage, showcasing a strong commitment to stakeholder engagement and responsiveness.
The organization also scored exceptionally well in leadership and adaptability, achieving a perfect score of 100. This suggests that Preschool Advantage Inc is not only well-prepared to navigate challenges but also actively fosters a culture that promotes growth and innovation. Its high program expense ratio of 77.70% indicates that a substantial portion of its funds is directed towards its mission, ensuring that resources are utilized effectively to benefit the community.
While the overall metrics are strong, the organization has room for improvement in its equity strategies, which received an 87 out of 100. This suggests that there may be opportunities to enhance inclusivity and diversity initiatives within its programs. Overall, Preschool Advantage Inc stands out as a well-managed nonprofit dedicated to its educational mission.
This AI summary has been generated from information found on Charity Navigator.
Is Preschool Advantage Inc legitimate?
Preschool Advantage Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Preschool Advantage 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: $100,164
Professional Fundraising Fees: $0
Other Salaries and Wages: $160,394
For more financial information, click here
Official website here: www.preschooladvantage.org
What is the mission statement of Preschool Advantage Inc?
Preschool Advantage Inc's mission is centered around providing financial assistance for preschool tuitions for low-income families. The organization recognizes the importance of early childhood education in laying a strong foundation for a child's lifelong love of learning. However, many local children lack the means to attend preschool due to their families' earnings falling above the poverty level but below the level of sustainability. Recognizing this gap, Preschool Advantage was founded in 1995 to bridge this gap. To date, the organization has funded nearly 1,850 half-day preschool tuitions for over 1,350 children, thereby providing opportunities for these children's future educational growth.
Official website here: www.preschooladvantage.org
Who is the CEO of Preschool Advantage Inc?
Kyle Colwell is the Immediate Past President of Preschool Advantage Inc.
Official website here: www.preschooladvantage.org
What is the revenue of Preschool Advantage Inc?
Preschool Advantage Inc's revenue in 2022 was $947,215.
Official website here: www.preschooladvantage.org
Who are the executives of Preschool Advantage Inc and what are their salaries?
The average compensation at Preschool Advantage Inc during 2022 was $65,140. There are 4 employees and 63 volunteers at Preschool Advantage Inc.
Here are 16 key members and their salaries:
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- Compensation: $88,840
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- Other: $11,407
Official website here: www.preschooladvantage.org
Where can I find the form 990 for Preschool Advantage Inc?
Preschool Advantage Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.preschooladvantage.org
Learn more at the official website: www.preschooladvantage.org
Mission Statement of Preschool Advantage Inc
Preschool Advantage, a nonprofit organization, is committed to funding preschool tuitions for low-income families in Morris and Somerset County. Recognizing the importance of early childhood education in laying the foundation for a lifelong love of learning, Preschool Advantage provides financial assistance for eligible children to attend partner preschools. Despite the undeniable significance of a strong educational start, many local children lack the means to attend preschool due to their families' financial struggles, even though they may earn above the poverty level. Preschool Advantage bridges this gap by serving struggling families who do not qualify for government-funded programs but still cannot afford the cost of preschool, thereby hindering their children's future success and opportunities. Established in Morristown in 1995, Preschool Advantage has funded nearly 1,850 half-day preschool tuitions for over 1,350 children, ensuring that these children have access to early education, setting them on a path for future growth and academic excellence.
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Impact
October, 2024
Preschool Advantage Inc significantly impacts the lives of children and families in Morris and Somerset Counties, New Jersey by providing access to early childhood education for those who face financial barriers. The organization specifically aids low-income families, particularly those who do not qualify for government assistance yet still struggle to afford preschool tuition. By covering the costs of half-day preschool programs, Preschool Advantage ensures that children have the critical opportunity to engage in early learning experiences that foster a love for education.
The first years of a child's life are crucial; they set the foundation for future academic and life success. With nearly 1,850 half-day preschool tuitions funded for over 1,350 children since its inception in 1995, Preschool Advantage plays a vital role in empowering children from under-resourced families. This not only enhances their educational trajectories but also opens doors for greater opportunities later in life. The work of Preschool Advantage addresses an essential gap in accessible education, creating ripple effects that benefit not just the children who attend preschool but their families and the wider community as well.
This information is meant to be a general summary of Preschool Advantage 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.
- Investment Income: $7,797
- Gross Receipts: $1,054,682
Assets and Liabilities:
- Total Assets: $1,893,055
- Total Liabilities: $0
- Net Assets: $1,893,055
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Organization Details
Founding Year
1995
Phone
(973) 532-2501Principal Officer
Kyle Colwell
Main Address
25 LINDSLEY DRIVE SUITE 307, MORRISTOWN, NJ, 07960
Website
www.preschooladvantage.orgNTEE Category
Code: B82Z - Education
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