Lancaster Preschool FY2021 filing

Tax-deductible

Greensboro, NC501(c)(3)EducationEIN 84-4717197Revenue $567K in FY2021

On file with the IRSlancasterps.org369 Air Harbor Rd, 27455-9280 · Greensboro, NCTax-exempt since Jun 2020School — 170(b)(1)(A)(ii)

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Lancaster Preschool will operate as a nondenominational christian Preschool that aims to provide the best possible learning experience for children 15 months to six years of age.

501(c)(3) charity; gifts are tax-deductible.
78¢ of each $1 spent went to programs.
$33K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2021 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $112K 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
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$33K
to officers and key staff · 9% of spending
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 7.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $1K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$84K
31% of total assets
Looks good: liabilities are 31% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$567K
Spent
$382K
To programs
78%
Net assets
$185K
By yearFY2021–FY2025
Revenue
$567K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$567K
FY2022$579K
FY2023$574K
FY2024$626K
FY2025$678K
Expenses
$382K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$382K
FY2022$497K
FY2023$500K
FY2024$522K
FY2025$563K
Net assets
$185K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$185K
FY2022$267K
FY2023$341K
FY2024$445K
FY2025$560K

From the FY2021 Form 990 (year ending June 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2020.

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

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $298K Management & general 22% · $84K

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

9 people listed on the 990; $33K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Head of School, Director
$33,158Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A

Cathy Atkinson’s $37K as Head of School, Director is at the 28th percentile of top reported officer pay among 1613 $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 · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Cathy Atkinson$36,537$35,500$34,667$35,183$33,158

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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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

Provides Christian preschool education for children aged 15 months to six years.

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Provided by the organization

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1 program · $298K · in their own filed words · FY2020
01

The primary function is the presentation of formal instruction. Activities are carried on through a traditional school year from september through may for 125 students aged 15 months through kindergarten. There are also summer and after-school programs. All of these classes have been held in person throughout the entire year.

$298Kprogram 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 · FY2023
Total grants receivedfrom 1 funder$1K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$567K
Ln 12
Fees for servicesLn 2g$458K
Gifts and grantsLn 1h$87K
Other incomeLn 4–11$22K
Money outPt IX
$382K
Ln 25
Programscol B$298K
Managementcol C$84K
Owns and owesPt X
$185K
net assets · Ln 32
Cash and savingsLn 1–2$250K
Total assetsLn 16$269K
LiabilitiesLn 26$84K
PeoplePt VI, VII
9
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$87K
Noncash giftsLn 1g$6K
Fees for servicesLn 2g$458K
Other incomeLn 4–11$22K
Total revenueLn 12$567K
Assets in detailPt X, end of year
CashLn 1$250K
Cash and savings togetherLn 1–2$250K
Land, buildings, equipmentLn 10c$8K
Total assetsLn 16$269K
LiabilitiesLn 26$84K
Net assetsLn 32$185K
OperationsPt I, VI
EmployeesI 541
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$250K
Land, buildings, equipmentLn 10c$0$8K
Total assetsLn 16$0$269K
LiabilitiesLn 26$0$84K
Net assetsLn 32$0$185K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$33K$33K
Other salaries and wagesLn 7$254K$224K$30K
Payroll taxesLn 10$25K$19K$5K
Accounting feesLn 11c$4K$824$3K
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$1K$348$1K
Information technologyLn 14$2K$792$792
OccupancyLn 16$36K$31K$5K
Depreciation, depletion and amortizationLn 22$2K$839$676
InsuranceLn 23$5K$1K$3K
Other expenses (24a–d)Ln 24$13K$13K
All other expensesLn 24e$4K$3K$748
Total functional expensesLn 25$382K$298K$84K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $678K$563K$114K$560K 990 PDF
FY2024 $626K$522K$104K$445K 990 PDF
FY2023 $574K$500K$74K$341K 990 PDF
FY2022 $579K$497K$82K$267K 990 PDF
FY2021 Viewing $567K$382K$185K$185K 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 FY2021 990 (6 parts)
Part I · Summary $567,055 revenue, 12 lines filed
I-8 Contributions and grants$86,890
I-9 Program service revenue$458,155
I-10 Investment income$0
I-11 Other revenue$22,010
I-12 Total revenue$567,055
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$312,492
I-16a Professional fundraising fees$0
I-17 Other expenses$69,757
I-18 Total expenses$382,249
I-19 Revenue less expenses$184,806
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $567,055 across 6 lines filed
VIII-1f All other contributions, gifts and grants$86,890
VIII-1g Noncash contributions (included above)$5,500
VIII-1h Total contributions, gifts and grants$86,890
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $458,155$458,155
VIII-8 Net income from fundraising eventsExcluded from tax $22,010$22,010
VIII-12 Total revenueRelated to mission $458,155 · Unrelated business $0 · Excluded from tax $22,010$567,055
Part IX · Statement of functional expenses $382,249 across 12 lines filed
IX-5 Pay of current officers, directors and key staffManagement $33,158$33,158
IX-7 Other salaries and wagesPrograms $224,347 · Management $30,120$254,467
IX-10 Payroll taxesPrograms $19,396 · Management $5,471$24,867
IX-11c Accounting feesPrograms $824 · Management $3,295$4,119
IX-12 Advertising and promotionPrograms $3,049$3,049
IX-13 Office expensesPrograms $348 · Management $1,045$1,393
IX-14 Information technologyPrograms $792 · Management $792$1,584
IX-16 OccupancyPrograms $31,025 · Management $5,475$36,500
IX-22 Depreciation, depletion and amortizationPrograms $839 · Management $676$1,515
IX-23 InsurancePrograms $1,341 · Management $3,498$4,839
IX-24 Other expenses (24a–d)Programs $12,635$12,635
IX-24e All other expensesPrograms $3,375 · Management $748$4,123
IX-25 Total functional expensesPrograms $297,971 · Management $84,278 · Fundraising $0$382,249
Part X · Balance sheet $269,108 assets, 9 lines filed
X-1 Cash, non-interest-bearing$249,648
X-4 Accounts receivable$2,129
X-10c Land, buildings and equipment, netStart of year $0$7,863
X-14 Intangible assets$9,468
X-16 Total assetsStart of year $0$269,108
X-19 Deferred revenue$84,302
X-26 Total liabilitiesStart of year $0$84,302
X-32 Total net assets or fund balancesStart of year $0$184,806
X-33 Total liabilities and net assetsStart of year $0$269,108
Part XI · Reconciliation of net assets $184,806 net assets at year end
XI-1 Total revenue$567,055
XI-2 Total expenses$382,249
XI-3 Revenue less expenses$184,806
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$184,806

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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