Fairwind Learning Center Corp EIN 47-1588668

Fairwind Learning Center Corp

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Provides educational programs for young children aged two to six. For fiscal year 2024 it reported $721K in revenue, $649K in expenses, and $224K in net assets.Pt I

Founded
2014
Type
Public charity (501(c)(3)) · Education
Location
Marblehead, MA
Website
www.fairwindlearningcenter.com
Filings
5 on file (2020–2024)
Revenue
$721KFY2024
Expenses
$649K
Net assets
$224K
People
4
Filings
5
Updates
0
More identity details & actions ⌄
EIN  47-1588668 Public charity (501(c)(3)) Marblehead, MA Founded 2014
Form 990 (PDF)
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Size
$100K–1M
What they do
Provides educational programs for young children aged two to six.
Leadership
Kathy Sweetland · Executive Director · $76K
Money in and out
$721K revenue, $649K expenses
Bottom line
76% program efficiency
Where the money goes · FY2024
Total revenue
$721K
Pt VIII · Ln 12
Total expenses
$649K
Pt IX · Ln 25
Net assets
$224K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $71K
Where spending went · Part IX cols B–D
Program services $0.76 Management & general $0.24
Program efficiency
76%
of spending reaches programs▼ -4% vs prior filing year
Operating runway
5.3mo
months of highly liquid reserves at operating expense rate▲ +56% vs prior filing year
Surplus margin
+10%
revenue over expenses, this year▲ +147% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$721K
FY2024▲ +9%
Expenses
$649K
FY2024▲ +2%
Total assets
$314K
FY2024▲ +57%
Total liabilities
$90K
FY2024▲ +91%
Total revenue
$721K
Pt VIII · Ln 12
Total expenses
$649K
Pt IX · Ln 25
Net assets
$224K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$71K
Total assetsPt X · Ln 16$314K
Program-expense ratioPt IX · col B76%
Voting members of governing bodyPt I · Ln 34
Independent voting membersPt I · Ln 44
Mission & Programs · Part III

Where the work happens

3 program services account for $496K of program spending, described in the organization's own filed words · FY2024.
01

Fairwind provides full and half day transitional kindergarten and preschool classes for children ages 3 to 6, and toddler classes for children age 2 to 3, that encourage children to ask questions and become problem solvers by fostering confidence and creating independent thinkers and lifelong learners.

$457Kprogram expense
02

The extended enrichment program is offered through the year in 8 week sessions. These classes are offered to fairwind transitional kindergarten and preschool ii students (ages 4-6), monday through thursday from 3 to 4 PM, for an additional fee.

$32Kprogram expense
03

The summer program is a 5-WEEK program (monday through thursday) opened to fairwind currently enrolled students only, ages 4-6.

$6Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CFairwind Learning Center Corp
EINHdr · item D47-1588668
Principal addressHdr · item CMarblehead, MA
WebsiteHdr · item Jwww.fairwindlearningcenter.com
Year of formationHdr · item L2014
State of legal domicileHdr · item MMA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B21)
Ruling yearIRS BMFFeb 2015

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a4
Independent voting membersPt VI · Ln 1b4
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$76,063Pt VII · Sec A
President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A

Kathy Sweetland’s $76K as Executive Director is at the 68th percentile of top reported officer pay among 1616 $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

NameFY2024FY2024FY2023FY2021FY2020
Kathy Sweetland$76,063$72,500$46,734
Tiffany Uttam$5,833$68,250

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$684K · 95%
Contributions & grants$36K · 5%
Program service revenue95%$684K
Contributions & grants5%$36K
Investment income$70
— government grantsLn 1e$36K
Total revenueLn 12$721K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.76 Management & general $0.24
Program services76%$496K
Management & general24%$154K
Total functional expensesLn 25$649K

Balance Sheet

Part X · end of year
CashLn 1$286K
Total assetsLn 16$314K
Total liabilitiesLn 26$90K
Total net assetsLn 32$224K
Months of cash on handcomputed5.3

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $286K · Operating expenses/yr $649K
5.3 months
Where the money goes
Program services
Program services $496K · Total expenses $649K
76%
Management & General
Management & general $154K · Total expenses $649K
24%
Fundraising
Fundraising $0 · Total expenses $649K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $103
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $36K · Total revenue $721K
5%
Government reliance
Government grants $36K · Total revenue $721K
5%
Earned-income share
Program service revenue $684K · Total revenue $721K
95%
Investment reliance
Investment income $70 · Total revenue $721K
<0.01%
Program self-sufficiency
Program service revenue $684K · Total expenses $649K
105%
Growth & trend
Revenue growth (YoY)
This year $721K · Prior year $661K
+9%
Revenue CAGR
FY2019 $513K · FY2024 $721K
+7%
Net-asset trend (YoY)
End of year $224K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $721K · Expenses $649K
+10%
Liabilities-to-Assets
Total liabilities — · Total assets $314K
Net-asset ratio
Net assets $224K · Total assets $314K
71%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $314K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Kathy Sweetland · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $76K · Total expenses $649K
12%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $490K · Total expenses $649K
75%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 76%
Overhead ratio 24%
Revenue growth 9%

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.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$5K

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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$661K revenue · ⤓ 990 PDF
FY2023$671K revenue · ⤓ 990 PDF
FY2022$551K revenue · ⤓ 990 PDF
FY2021$0 revenue · ⤓ 990 PDF
FY2020$513K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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