Kovago Developmental Foundation INC EIN 04-2867671

Kovago Developmental Foundation INC FY2021 filing

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Offers Montessori preschool and elementary education to about 100 students annually. For fiscal year 2021 it reported $811K in revenue, $866K in expenses, and $148K in net assets.Pt I

Type
Public charity (501(c)(3)) · Education
Location
Ashland, MA
Website
www.pincusion.com
Filings
6 on file (2019–2021)
Revenue
$811KFY2021
Expenses
$866K
Net assets
$148K
People
2
Filings
6
Updates
0
More identity details & actions ⌄
EIN  04-2867671 Public charity (501(c)(3)) Ashland, MA
Form 990 (PDF)
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Offers Montessori preschool and elementary education to about 100 students annually.
Leadership
Christine Kovago · President · $115K
Money in and out
$811K revenue, $866K expenses
Bottom line
73% program efficiency
Where the money goes · FY2021
Total revenue
$811K
Pt VIII · Ln 12
Total expenses
$866K
Pt IX · Ln 25
Net assets
$148K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$55K
Where spending went · Part IX cols B–D
Program services $0.73 Management & general $0.27
Program efficiency
73%
of spending reaches programs
Operating runway
3.5mo
months of highly liquid reserves at operating expense rate
Surplus margin
-7%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$811K
FY2021>-0.01%
Expenses
$866K
FY2021▲ +6%
Total assets
$430K
FY2021▲ +13%
Total liabilities
$282K
FY2021▲ +48%
Total revenue
$811K
Pt VIII · Ln 12
Total expenses
$866K
Pt IX · Ln 25
Net assets
$148K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$55K
Total assetsPt X · Ln 16$430K
Program-expense ratioPt IX · col B73%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 41
Mission & Programs · Part III

Where the work happens

1 program service account for $514K of program spending, described in the organization's own filed words · FY2020.
01

Provided preschool elementary education in the montessori method to approximately 100 students

$514Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CKovago Developmental Foundation INC
EINHdr · item D04-2867671
Principal addressHdr · item CAshland, MA
WebsiteHdr · item Jwww.pincusion.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B210)
Ruling yearIRS BMFSep 1989

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1b1
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$114,714Pt VII · Sec A
$6,530Pt VII · Sec A

Christine Kovago’s $116K as President is at the 89th percentile of top reported officer pay among 1615 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020FY2019
Christine Kovago$115,602$132,532$135,038$114,714$111,821$105,960
Agoston Kovago$13,609$6,530

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Program service revenue$706K · 87%
Other revenue$105K · 13%
Program service revenue87%$706K
Other revenue13%$105K
Investment income$66
Total revenueLn 12$811K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.73 Management & general $0.27
Program services73%$636K
Management & general27%$230K
Total functional expensesLn 25$866K

Balance Sheet

Part X · end of year
CashLn 1$256K
Total assetsLn 16$430K
Total liabilitiesLn 26$282K
Total net assetsLn 32$148K
Months of cash on handcomputed3.5

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $256K · Operating expenses/yr $866K
3.5 months
Where the money goes
Program services
Program services $636K · Total expenses $866K
73%
Management & General
Management & general $230K · Total expenses $866K
27%
Fundraising
Fundraising $0 · Total expenses $866K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $811K
0%
Government reliance
Government grants — · Total revenue $811K
Earned-income share
Program service revenue $706K · Total revenue $811K
87%
Investment reliance
Investment income $66 · Total revenue $811K
<0.01%
Program self-sufficiency
Program service revenue $706K · Total expenses $866K
82%
Growth & trend
Revenue growth (YoY)
This year $811K · Prior year $811K
>-0.01%
Net-asset trend (YoY)
End of year $148K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $811K · Expenses $866K
-7%
Liabilities-to-Assets
Total liabilities — · Total assets $430K
Net-asset ratio
Net assets $148K · Total assets $430K
34%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $430K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Christine Kovago · Reported title PRESIDENT · Highest reported compensation $115K · Total expenses $866K
13%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $594K · Total expenses $866K
69%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 73%
Overhead ratio 27%
Revenue growth >-0.01%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$749K revenue · ⤓ 990 PDF
FY2023$1.3M revenue · ⤓ 990 PDF
FY2022$1.3M revenue · ⤓ 990 PDF
FY2021$811K revenue · viewing · ⤓ 990 PDF
FY2020$811K revenue · ⤓ 990 PDF
FY2019$887K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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