Overview
What is Magnificent Day Care Center Inc?
Magnificent Day Care Center Inc is a nonprofit organization primarily focused on providing child care services to families with limited financial resources in Atlanta, Georgia. The organization receives financial support through a CACFP grant, allowing it to allocate $87,112 towards its food program and offer care to a total enrollment of $40,755 worth of children. Beyond child care, Magnificent Day Care Center Inc also operates a food program, demonstrating its commitment to addressing the nutritional needs of its clientele. As a child day care center, it plays a significant role in supporting the local community by offering essential care services to underprivileged families.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating)
Magnificent Day Care Center Inc has received a 79% rating from Charity Navigator, indicating a solid level of accountability and financial health. This score reflects well on the organization’s governance practices, with a fully independent board and robust policies in place to manage conflicts of interest and whistleblower protections.
The organization demonstrates strong financial management, highlighted by a 100% program expense ratio, meaning that all of its expenses are directed towards its programs. Additionally, it maintains a low liabilities to assets ratio of 0.28%, showcasing a strong financial position without significant debt.
While the rating is commendable, there is always room for improvement. It would be beneficial for Magnificent Day Care Center Inc to further enhance transparency and community engagement to bolster its reputation and outreach efforts.
This AI summary has been generated from information found on Charity Navigator.
Is Magnificent Day Care Center Inc legitimate?
Magnificent Day Care Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Magnificent 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: $52,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $226,020
For more financial information, click here
What is the mission statement of Magnificent Day Care Center Inc?
Magnificent Day Care Center Inc, as a non-profit organization, is dedicated to providing child care services for families who fall under the low-income and underprivileged categories. One of their significant initiatives involves operating a food program, funded by a CACFP grant worth $87,112. This program aims to ensure the children enrolled receive proper nutrition. With a total enrollment of $40,755, the center provides a supportive environment for these children. The organization's mission primarily revolves around offering essential care and support to these vulnerable families, thereby contributing positively to their lives.
Who is the CEO of Magnificent Day Care Center Inc?
Robert S Phillips is the Executive Director of Magnificent Day Care Center Inc.
What is the revenue of Magnificent Day Care Center Inc?
Magnificent Day Care Center Inc's revenue in 2022 was $763,078.
Who are the executives of Magnificent Day Care Center Inc and what are their salaries?
The average compensation at Magnificent Day Care Center Inc during 2022 was $18,535. There are 15 employees at Magnificent Day Care Center Inc.
There is 1 key member and their salary:
- Compensation: $52,000
- Related: $0
- Other: $0
Where can I find the form 990 for Magnificent Day Care Center Inc?
Magnificent Day Care Center Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Magnificent Day Care Center Inc
Magnificent Day Care Center, a nonprofit organization, is dedicated to providing child care for families who are economically disadvantaged or underprivileged. Their mission is exemplified through their operations, which include a food program funded by a CACFP grant worth $87,112 and a total enrollment of $40,755. This child day care center's primary objective is to cater to the needs of these families, ensuring their children receive adequate care and nourishment. The organization's focus on low-income families underlines its commitment to promoting equality and accessibility in early childhood education and care.
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Impact
July, 2024
Magnificent Day Care Center Inc provides crucial child care services for low-income and underprivileged families in Atlanta, Georgia. Through its operations and the implementation of a food program funded by a CACFP grant amounting to $87,112, the center has made a significant impact on the community. With a total enrollment of 40,755 children, Magnificent Day Care Center Inc plays a vital role in supporting working families and providing a safe and nurturing environment for children in need. By offering quality child care services, the center is helping to alleviate the burden on parents and contribute to the overall well-being of the community.
This information is meant to be a general summary of Magnificent 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: $675,580
- Gross Receipts: $763,078
Assets and Liabilities:
- Total Assets: $552,508
- Total Liabilities: $1,573
- Net Assets: $550,935
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CHILD DAY CARE
Revenue
$675,580
Organization Details
Founding Year
1978
Principal Officer
Robert S Phillips
Main Address
PO BOX 42899, Atlanta, GA, 30310
NTEE Category
Code: P33 - Human services
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