Overview
What is Altamonte Child Development Center Inc?
Altamonte Child Development Center Inc is a nonprofit organization situated in Albuquerque, New Mexico, specifically at 3305 Alta Monte Avenue NE, 87107. Their primary mission is to provide affordable childcare for families who struggle to meet the expenses, receiving financial assistance from both the state and federal sources. This includes daily nutrition support from federal assistance. The preschool provided by the center is offered at costs 10-20% lower than the national averages, ensuring a safe and economical option for families' childcare needs. With a workforce of 29 individuals, the center strives to make quality early education accessible and affordable for the local community.
Official website here: www.altamontechildcare.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Stars)
Altamonte Child Development Center Inc received a Two-Star rating, indicating that it needs improvement in its accountability and financial practices, with an overall score of 66%. The organization excels in having a fully independent board, achieving maximum points in this area. However, it faced significant challenges in financial transparency, particularly with its financial statements and policies related to document retention and whistleblower protections.
The nonprofit demonstrates a strong commitment to its program expenses, with an outstanding program expense ratio of 94.86%, suggesting that the majority of its funds are directed towards its mission. Despite this positive aspect, the lack of independent board size and insufficient financial documentation raises concerns about governance practices and transparency.
Overall, while Altamonte Child Development Center Inc shows promise in its programmatic impact, the areas needing improvement highlight critical governance issues that the organization must address to enhance its credibility and trustworthiness among stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Altamonte Child Development Center Inc legitimate?
Altamonte Child Development Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Altamonte Child Development 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: $476,938
For more financial information, click here
Official website here: www.altamontechildcare.com
What is the mission statement of Altamonte Child Development Center Inc?
The Altamonte Child Development Center Inc aims to offer a safe and affordable preschool option for families, setting its costs at 10-20% below the national average. This initiative allows families to meet their childcare needs without incurring excessive expenses. The center receives state financial assistance to support families who cannot afford daycare costs. Furthermore, the daycare charges in the community at large are also lower than those at national chain centers, thanks to this affordability initiative. The center also receives aid for daily nutrition from federal assistance, contributing to the overall well-being of the enrolled children.
Official website here: www.altamontechildcare.com
Who is the CEO of Altamonte Child Development Center Inc?
Lorena Foust is the President of Altamonte Child Development Center Inc.
Official website here: www.altamontechildcare.com
What is the revenue of Altamonte Child Development Center Inc?
Altamonte Child Development Center Inc's revenue in 2022 was $1,260,464.
Official website here: www.altamontechildcare.com
Who are the executives of Altamonte Child Development Center Inc and what are their salaries?
The average compensation at Altamonte Child Development Center Inc during 2022 was $16,446. There are 29 employees at Altamonte Child Development Center Inc.
Here are 2 key members and their salaries:
- Compensation: $37,875
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.altamontechildcare.com
Where can I find the form 990 for Altamonte Child Development Center Inc?
Altamonte Child Development Center Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.altamontechildcare.com
Learn more at the official website: www.altamontechildcare.com
Mission Statement of Altamonte Child Development Center Inc
Altamonte Child Development Center Inc is dedicated to providing an affordable and safe childcare option for families. Their mission is to offer high-quality preschool services at costs that are 10-20% lower than the national averages. This initiative enables families to meet their childcare needs without straining their budgets. The center receives financial assistance from both state and federal sources to support families who cannot afford daycare costs. Moreover, the center's daycare fees to the larger community are also kept at a reduced rate compared to national chains. This affordable yet high-quality childcare service offered by Altamonte Child Development Center Inc is a valuable resource for families, ensuring their children receive a nurturing and enriching early education experience.
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Impact
October, 2024
Altamonte Child Development Center Inc has a significant impact on the community by offering high-quality preschool services at costs 10-20% below national averages, making childcare more accessible for families. This affordability enables parents to secure reliable and safe care for their children, which is essential for their development and well-being.
Additionally, the center provides vital financial assistance to those in need, ensuring that families facing economic hardship can still access quality daycare. This includes support for daily nutrition through federal assistance programs, which further underscores the center's commitment to the health and development of children. By lowering the overall costs of childcare in the community and offering supplemental support to families, Altamonte Child Development Center Inc plays a crucial role in fostering a safe and nurturing environment for children in Albuquerque, NM.
This information is meant to be a general summary of Altamonte Child Development 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.
- Investment Income: -$163
- Program Service Revenue: $868,346
- Gross Receipts: $1,277,139
Assets and Liabilities:
- Total Assets: $1,306,991
- Total Liabilities: $404,282
- Net Assets: $902,709
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
STATE TUITION PAYMENTS
Revenue
$713,681
CREDIT CARD PAYMENTS
Revenue
$62,385
STATE FOOD PAYMENTS
Revenue
$61,160
CHECK PAYMENTS
Revenue
$17,903
CASH PAYMENTS
Revenue
$10,941
Organization Details
Founding Year
2007
Phone
(505) 883-8530Principal Officer
Lorena Foust
Main Address
3305 ALTA MONTE AVENUE NE, ALBUQUERQUE, NM, 87107
Website
www.altamontechildcare.comNTEE Category
Code: P33 - Human services
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