Daycroft INC FY2020 filing

Tax-deductible

Ann Arbor, MI501(c)(3)Since 1982EducationEIN 38-2430758Revenue $2.9M in FY2020

On file with the IRSdaycroft.org1095 N Zeeb Rd, 48103-1472 · Ann Arbor, MITax-exempt since Jan 1984School — 170(b)(1)(A)(ii)

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To empower each student with confidence, compassion, and a lifelong love of learning.

501(c)(3) charity; gifts are tax-deductible.
68¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $615K a year · 19% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
68%
of spending
Fine: 68% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 7.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $23K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.2M
40% of total assets
Looks good: liabilities are 40% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.9M
Spent
$2.1M
To programs
68%
Net assets
$1.7M
By yearFY2020–FY2024
Revenue
$2.9M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$2.9M
FY2021$2.2M
FY2022$3.7M
FY2023$3.6M
FY2024$3.8M
FY2024$4.4M
Expenses
$2.1M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$2.1M
FY2021$2.0M
FY2022$2.6M
FY2023$3.0M
FY2024$3.4M
FY2024$3.9M
Net assets
$1.7M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$1.7M
FY2021$2.0M
FY2022$3.1M
FY2023$3.8M
FY2024$4.1M
FY2024$4.6M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1984.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

68 cents of each dollar spent went to programs.

Program services 68% · $1.5M Management & general 28% · $604K Fundraising 3% · $74K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A

David Lee’s $199K as Head of School is at the 82nd percentile of top reported officer pay among 3394 $1–10M 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 · 3 named individuals · Part VII

NameFY2024FY2024FY2023FY2022
David Lee$198,684$174,965$161,962$161,962
Greg Palkowski$119,270$111,470$107,320—
Audrey Perrott——$1,950—

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.

See Daycroft INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Fosters student confidence, compassion, and a lifelong love of learning.

Provided by the organization

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1 program · $1.5M · in their own filed words · FY2019
01

Daycroft provides a personalized learning environment that appreciates individual differences, nurtures the whole child, and enables students to develop at their own pace and achieve to their full potential to approximately 137 students.

$1.5Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$23K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$2.9M
Ln 12
Fees for servicesLn 2g$1.9M
Investment incomeLn 3$878K
Gifts and grantsLn 1h$63K
Money outPt IX
$2.1M
Ln 25
Programscol B$1.5M
Managementcol C$604K
Fundraisingcol D$74K
Owns and owesPt X
$1.7M
net assets · Ln 32
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$2.9M
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$63K
Fees for servicesLn 2g$1.9M
Investment incomeLn 3$878K
Other incomeLn 4–11$13K
Gains on assetsLn 7$878K
Total revenueLn 12$2.9M
Assets in detailPt X, end of year
CashLn 1$461K
SavingsLn 2$788K
Cash and savings togetherLn 1–2$1.2M
Land, buildings, equipmentLn 10c$1.6M
Total assetsLn 16$2.9M
LiabilitiesLn 26$1.2M
Net assetsLn 32$1.7M
OperationsPt I, VI
EmployeesI 562
VolunteersI 650
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$646K$1.2M
Land, buildings, equipmentLn 10c$1.7M$1.6M
Total assetsLn 16$2.4M$2.9M
LiabilitiesLn 26$1.4M$1.2M
Net assetsLn 32$1.0M$1.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$1.4M$929K$387K$50K
Pension plan contributionsLn 8$25K$17K$7K$919
Other employee benefitsLn 9$98K$72K$23K$3K
Payroll taxesLn 10$98K$64K$30K$4K
Legal feesLn 11b$12K$3K$9K
Accounting feesLn 11c$7K$7K
Advertising and promotionLn 12$12K$10K$578$1K
Office expensesLn 13$56K$31K$21K$4K
Information technologyLn 14$26K$20K$5K$850
OccupancyLn 16$144K$129K$14K
Conferences, conventions and meetingsLn 19$19K$4K$7K$8K
InterestLn 20$40K$40K
Depreciation, depletion and amortizationLn 22$104K$93K$10K
InsuranceLn 23$33K$27K$7K
Other expenses (24a–d)Ln 24$100K$70K$30K$103
All other expensesLn 24e$9K$742$6K$2K
Total functional expensesLn 25$2.1M$1.5M$604K$74K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $3.8M$3.4M$322K$4.1M 990 PDF
FY2023 $3.6M$3.0M$653K$3.8M 990 PDF
FY2022 $3.7M$2.6M$1.1M$3.1M 990 PDF
FY2021 $2.2M$2.0M$270K$2.0M 990 PDF
FY2020 Viewing $2.9M$2.1M$715K$1.7M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $2,863,166 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $52,680$62,657
I-9 Program service revenuePrior year $2,221,639$1,910,162
I-10 Investment incomePrior year $279$877,585
I-11 Other revenuePrior year $35,952$12,762
I-12 Total revenuePrior year $2,310,550$2,863,166
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,773,254$1,586,089
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $637,541$562,211
I-18 Total expensesPrior year $2,410,795$2,148,300
I-19 Revenue less expensesPrior year −$100,245$714,866
Part VI · Governance 12 of 12 board members independent, no flags
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,863,166 across 7 lines filed
Lines not itemized here account for $5,032 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$62,657
VIII-1h Total contributions, gifts and grants$62,657
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,910,162$1,910,162
VIII-3 Investment incomeExcluded from tax $46$46
VIII-7 Net gain or loss on sales of assetsExcluded from tax $877,539$877,539
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $7,730$7,730
VIII-12 Total revenueRelated to mission $1,915,194 · Unrelated business $0 · Excluded from tax $885,315$2,863,166
Part IX · Statement of functional expenses $2,148,300 across 16 lines filed
IX-7 Other salaries and wagesPrograms $928,886 · Management $387,120 · Fundraising $49,537$1,365,543
IX-8 Pension plan contributionsPrograms $16,730 · Management $6,889 · Fundraising $919$24,538
IX-9 Other employee benefitsPrograms $72,130 · Management $22,794 · Fundraising $3,039$97,963
IX-10 Payroll taxesPrograms $64,464 · Management $29,630 · Fundraising $3,951$98,045
IX-11b Legal feesPrograms $3,025 · Management $9,076$12,101
IX-11c Accounting feesManagement $7,493$7,493
IX-12 Advertising and promotionPrograms $9,818 · Management $578 · Fundraising $1,155$11,551
IX-13 Office expensesPrograms $30,906 · Management $20,699 · Fundraising $4,027$55,632
IX-14 Information technologyPrograms $20,186 · Management $5,366 · Fundraising $850$26,402
IX-16 OccupancyPrograms $129,331 · Management $14,370$143,701
IX-19 Conferences, conventions and meetingsPrograms $4,308 · Management $6,704 · Fundraising $8,259$19,271
IX-20 InterestManagement $40,268$40,268
IX-22 Depreciation, depletion and amortizationPrograms $93,424 · Management $10,380$103,804
IX-23 InsurancePrograms $26,665 · Management $6,666$33,331
IX-24 Other expenses (24a–d)Programs $69,740 · Management $29,990 · Fundraising $103$99,833
IX-24e All other expensesPrograms $742 · Management $6,357 · Fundraising $1,725$8,824
IX-25 Total functional expensesPrograms $1,470,355 · Management $604,380 · Fundraising $73,565$2,148,300
Part X · Balance sheet $2,903,545 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $614,726$460,965
X-2 Savings and temporary cash investmentsStart of year $31,493$788,283
X-4 Accounts receivableStart of year −$256$11,487
X-9 Prepaid expenses and deferred chargesStart of year $28,927$31,039
X-10c Land, buildings and equipment, netStart of year $1,738,241$1,611,771
X-16 Total assetsStart of year $2,413,131$2,903,545
X-17 Accounts payable and accrued expensesStart of year $86,688$45,754
X-19 Deferred revenueStart of year $312,173$182,909
X-24 Unsecured notes and loans payable$279,200
X-25 Other liabilitiesStart of year $187,246$186,458
X-26 Total liabilitiesStart of year $1,386,041$1,161,592
X-27 Net assets without donor restrictionsStart of year $1,027,090$1,741,953
X-32 Total net assets or fund balancesStart of year $1,027,090$1,741,953
X-33 Total liabilities and net assetsStart of year $2,413,131$2,903,545
Part XI · Reconciliation of net assets $1,741,953 net assets at year end
XI-1 Total revenue$2,863,166
XI-2 Total expenses$2,148,300
XI-3 Revenue less expenses$714,866
XI-4 Net assets at start of year$1,027,090
XI-9 Other changes in net assets−$3
XI-10 Net assets at end of year$1,741,953

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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