Lexington Friends Preschool Inc
Child led - Hands on - Exploration - Creation
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Lexington Friends Preschool Inc
EIN: 47-3309520
as of September 2024
as of September 09, 2024
Mission
“Lexington Friends Preschool guides children to develop active and creative minds, to be compassionate toward others, to be respectful of the environment, and to appreciate the diversity of the world around them. Membership in the Lexington Friends Preschool community is available without regard to race, color, creed, gender, sexual orientation, national origin, age, or disabling condition. Lexington Friends Preschool is dedicated to promoting equality and justice for all and does not discriminate against anyone in its student admissions, programs, or scholarships. LFP is a nonprofit secular corporation governed by its own board of directors. Our curriculum is secular while encouraging the Quaker values of peace, integrity, equality, simplicity, and good stewardship of the environment.”
Ruling year
2022
Director
Rebecca Thompson-Stewart
Main address
649 Price Ave
Lexington, KY 40508 USA
EIN
47-3309520
Early childhood education
Population served
Non-adult children
Low-income people
Working poor
NTEE code
Kindergarten, Nursery Schools, Preschool, Early Admissions (B21)
IRS subsection
501(c)(3) Public Charity
IRS filing requirement
This organization is required to file an IRS Form 990 or 990-EZ.
Tax forms
Communication
Programs and results
What we aim to solve
Our programs
What are the organization's current programs, how do they measure success, and who do the programs serve?
Preschool
Lexington Friends Preschool offers child-centered, hands-on exploration opportunities where children guide their learning experience. Our curriculum is inspired by the philosophy and curriculum of Dr. Maria Montessori. We employ a thoughtful balance of academics and play, at LFP children naturally develop a life-long love of learning.
We believe in embracing children's curiosity and fostering their sense of wonder. We have a strong focus on outdoor play where children have the opportunity to immerse themselves in their environment and cultivate an appreciation for the beauty of the natural world around them. We strive to create a nurturing and enriching school culture where all children are respected as members of their community
Where we work
Financials
Revenue vs. expenses: breakdown
Liquidity in 2023 info
0.00
Months of cash in 2023 info
7
Fringe rate in 2023 info
11%
Funding sources info
Assets & liabilities info
Financial data
Lexington Friends Preschool Inc
Revenue & expensesFiscal Year: Jul 01 - Jun 30
Lexington Friends Preschool Inc
Balance sheetFiscal Year: Jul 01 - Jun 30
The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.
Fiscal Year: Jul 01 - Jun 30
This snapshot of Lexington Friends Preschool Inc’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.
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Business model indicators
| Profitability info | 2016 | 2022 | 2023 |
|---|---|---|---|
| Unrestricted surplus (deficit) before depreciation | $16,913 | $93,163 | $101,982 |
| As % of expenses | 8.8% | 36.5% | 28.1% |
| Unrestricted surplus (deficit) after depreciation | $16,913 | $92,732 | $101,982 |
| As % of expenses | 8.8% | 36.2% | 28.1% |
| Revenue composition info | |||
|---|---|---|---|
| Total revenue (unrestricted & restricted) | $208,566 | $348,725 | $464,437 |
| Total revenue, % change over prior year | 0.0% | 0.0% | 33.2% |
| Program services revenue | 97.8% | 68.4% | 77.7% |
| Membership dues | 0.0% | 0.0% | 0.0% |
| Investment income | 0.0% | 0.0% | 0.3% |
| Government grants | 0.0% | 31.5% | 21.5% |
| All other grants and contributions | 1.9% | 0.1% | 0.2% |
| Other revenue | 0.3% | 0.0% | 0.2% |
| Expense composition info | |||
|---|---|---|---|
| Total expenses before depreciation | $191,653 | $255,562 | $362,455 |
| Total expenses, % change over prior year | 0.0% | 0.0% | 41.8% |
| Personnel | 82.1% | 75.2% | 81.5% |
| Professional fees | 2.8% | 10.3% | 4.4% |
| Occupancy | 7.6% | 10.1% | 8.6% |
| Interest | 0.0% | 0.0% | 0.0% |
| Pass-through | 0.0% | 0.0% | 0.0% |
| All other expenses | 7.5% | 4.4% | 5.5% |
| Full cost components (estimated) info | 2016 | 2022 | 2023 |
|---|---|---|---|
| Total expenses (after depreciation) | $191,653 | $255,993 | $362,455 |
| One month of savings | $15,971 | $21,297 | $30,205 |
| Debt principal payment | $0 | $20,833 | $0 |
| Fixed asset additions | $3,021 | $0 | $0 |
| Total full costs (estimated) | $210,645 | $298,123 | $392,660 |
Capital structure indicators
| Liquidity info | 2016 | 2022 | 2023 |
|---|---|---|---|
| Months of cash | 2.3 | 1.9 | 7.0 |
| Months of cash and investments | 2.3 | 1.9 | 7.0 |
| Months of estimated liquid unrestricted net assets | 0.4 | 5.2 | 7.0 |
| Balance sheet composition info | 2016 | 2022 | 2023 |
|---|---|---|---|
| Cash | $36,105 | $41,021 | $212,502 |
| Investments | $0 | $0 | $0 |
| Receivables | $0 | $69,499 | $0 |
| Gross land, buildings, equipment (LBE) | $3,021 | $3,021 | $3,021 |
| Accumulated depreciation (as a % of LBE) | 0.0% | 100.0% | 100.0% |
| Liabilities (as a % of assets) | 75.6% | 0.0% | 0.0% |
| Unrestricted net assets | $9,563 | $110,520 | $212,502 |
| Temporarily restricted net assets | $0 | N/A | N/A |
| Permanently restricted net assets | $0 | N/A | N/A |
| Total restricted net assets | $0 | $0 | $0 |
| Total net assets | $9,563 | $110,520 | $212,502 |
Key data checks
| Key data checks info | 2016 | 2022 | 2023 |
|---|---|---|---|
| Material data errors | No | No | No |
Operations
The people, governance practices, and partners that make the organization tick.
Documents
Director
Rebecca Thompson-Stewart
Number of employees
Source: IRS Form 990
Lexington Friends Preschool Inc
Officers, directors, trustees, and key employeesSOURCE: IRS Form 990
Compensation data
There are no highest paid employees recorded for this organization.
Lexington Friends Preschool Inc
Board of directorsas of 08/29/2024
Board of directors data
Ms Gail Koehler
Tom Marco
University of Kentucky
Peter Hardy
University of Kentucky
Jennifer Robinson
Department Veterans Affairs
Juliette Souders
Matthew Logsdon
Fayette County Public School
Maria Franzini
Providence Montessori
Board leadership practices
GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.
-
Board orientation and education
Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes -
CEO oversight
Has the board conducted a formal, written assessment of the chief executive within the past year ? No -
Ethics and transparency
Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? No -
Board composition
Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes -
Board performance
Has the board conducted a formal, written self-assessment of its performance within the past three years? No
Organizational demographics
Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.
Leadership
The organization's leader identifies as:
Race & ethnicity
Gender identity
Transgender Identity
Sexual orientation
Disability
Equity strategies
Last updated: 08/04/2024GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more
- We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
- We have community representation at the board level, either on the board itself or through a community advisory board.
- We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.
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- Officer and/or Employee data for 2023, 2022, 2016
- Contractor and/or Paid Preparer data for 2023, 2022, 2016
- Board of Directors data for 2024
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