Overview
What is Precious Gems Academy Inc?
Precious Gems Academy Inc, situated in Flemington, New Jersey, is a nonprofit organization specializing in child care services. Established in a building on US Highway 202, they cater to children as young as six weeks old, up to six years, offering quality care at an affordable price for low to moderate income families within Hunterdon County. Their commitment extends beyond the care itself, as they also provide nutritious meals for the children under their supervision.
Official website here: www.mypreciousgems.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (51%)
Precious Gems Academy Inc has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its financial accountability and governance. The overall score reflects a low accountability and finance score of 51%, primarily due to a lack of independent board members and missing financial statements. This level of transparency is crucial for donor trust and effective nonprofit management.
Despite the weaknesses noted, there are strengths within the organization. It demonstrates a high program expense ratio of 99.37%, indicating that almost all expenditures are directed towards its programs rather than administrative costs. Additionally, the organization has policies in place for conflict of interest, whistleblower protections, and document retention, which are essential for responsible governance.
However, the absence of independent board members and the lack of publicly available financial documents raise red flags regarding its governance structure. Potential donors may want to consider these factors carefully before contributing, as they imply possible limitations in oversight and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Precious Gems Academy Inc legitimate?
Precious Gems Academy Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Precious Gems Academy 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: $532,324
For more financial information, click here
Official website here: www.mypreciousgems.org
What is the mission statement of Precious Gems Academy Inc?
Precious Gems Academy Inc's mission is centered around providing high-quality, affordable childcare services to families with moderate to low income. Situated in an unspecified location, the academy's mission is to ensure that these families in need have access to reliable childcare solutions for their children aged from six weeks to six years. Furthermore, the academy goes beyond just childcare, offering nutritious meals to the children under its care.
Official website here: www.mypreciousgems.org
Who is the CEO of Precious Gems Academy Inc?
Mark Mastrolia is the President of Precious Gems Academy Inc.
Official website here: www.mypreciousgems.org
What is the revenue of Precious Gems Academy Inc?
Precious Gems Academy Inc's revenue in 2022 was $947,041.
Official website here: www.mypreciousgems.org
Who are the executives of Precious Gems Academy Inc and what are their salaries?
There 7 volunteers at Precious Gems Academy Inc.
Here are 6 key members and their salaries:
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Official website here: www.mypreciousgems.org
Where can I find the form 990 for Precious Gems Academy Inc?
Precious Gems Academy Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mypreciousgems.org
Learn more at the official website: www.mypreciousgems.org
Mission Statement of Precious Gems Academy Inc
Precious Gems Academy Inc, a reputable child care center, is committed to serving low to moderate income families by offering affordable yet high-quality child care services. Their mission, in essence, is to make quality early education accessible to families who may struggle financially. This nonprofit organization provides child care services for infants as young as six weeks old, all the way up to children six years of age. Moreover, Precious Gems Academy Inc goes beyond just offering child care, as they also provide meals to the children under their care. This holistic approach to child care ensures that the children's physical needs are met as well, in addition to their educational needs.
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Impact
July, 2024
Precious Gems Academy Inc's impact is profound in providing quality and affordable child care services to low to moderate income families in Hunterdon County. By offering child care services from as young as 6 weeks old up to 6 years of age, the academy not only supports working parents but also ensures that children receive proper care and nourishment while their families face financial constraints. This commitment to accessible childcare contributes significantly to the welfare and development of families in the community and helps alleviate the burden of child care expenses for many.
This information is meant to be a general summary of Precious Gems Academy 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: $625,858
- Gross Receipts: $947,041
Assets and Liabilities:
- Total Assets: $19,079
- Total Liabilities: $19,079
- Net Assets: $0
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Organization Details
Founding Year
2019
Phone
(908) 237-0500Principal Officer
Mark Mastrolia
Main Address
433 us hwy 202 Ste Building B, Flemington, NJ, 08822
Website
www.mypreciousgems.orgNTEE Category
Code: P33 - Human services
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