philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Laker Prep Early Childhood

Tax-deductible

Detroit Lakes, MN501(c)(3)Human ServicesEIN 85-4249341Revenue $1.3M in FY2024

On file with the IRSlakerpreppreschool.com551 11th Ave Se, 56501-3720 · Detroit Lakes, MNTax-exempt since Apr 2022Publicly supported — 509(a)(2)

Tell your story. Claim this org

Dedicated to the care and development of children 8 weeks to 6 years old. Nurture and individualize Early Childhood care and learning to accomodate both child and family needs.

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
$94K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · 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
1 of 2
filings with a surplus
Average deficit $21K a year · 2% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$94K
to officers and key staff · 7% of spending
Top officer’s pay lower than 95% of similar orgs
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $35K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$203K
112% of total assets
Concern: liabilities are 112% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 7 voting members
Looks good: 6 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.3M
-5% vs prior year
Spent
$1.3M
To programs
87%
Net assets
−$22K
By yearFY2023–FY2024
Revenue
$1.3M
FY2024▼ -5%
Tap a bar for its year
Revenue by fiscal year
FY2023$1.4M
FY2024$1.3M
Expenses
$1.3M
FY2024▼ -1.0%
Tap a bar for its year
Expenses by fiscal year
FY2023$1.3M
FY2024$1.3M
Net assets
−$22K
FY2024▼ -176%
Tap a bar for its year
Net assets by fiscal year
FY2023$29K
FY2024−$22K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2022.

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

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $1.2M Management & general 12% · $162K Fundraising 0% · $5K

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

Something off? Claim to fix it

Who runs it and what they're paid

8 people listed on the 990; $94K paid to officers and key staff.

Part VII, Section A · reportable compensation
Mary Rotter
Program Dire
$51,969Pt VII · Sec A
Eric Rotter
Asst Dir/Bd
$42,312Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Amanda Hanson
Treas/Secr
$0Pt VII · Sec A
Alissa Hoban
Board Member
$0Pt VII · Sec A
Tessa Fenu
Board Member
$0Pt VII · Sec A
Mary O'Brian
Board Member
$0Pt VII · Sec A

Mary Rotter’s $52K as Program Dire is at the 5th percentile of top reported officer pay among 3869 $1–10M human services 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

NameFY2024FY2023
Mary Rotter$51,969$50,185
Eric Rotter$42,312$44,557

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 Laker Prep Early Childhood executive salaries →

On this list? Claim this org

Something off? Claim to fix it

Questions the 990 asks

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

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Provides individualized early childhood care and learning for children aged 8 weeks to 6 years.

Questions for Laker Prep Early Childhood

Tap to ask. Laker Prep Early Childhood sees how many people are interested.

Your first name shows with your question. Laker Prep Early Childhood answers here, for everyone.

Provided by the organization

Know this org? Add your story

1 program · $1.2M · in their own filed words · FY2024
01

Laker prep is becker county's largest non-profit based childcare organization advocating for and serving families with high quality programming for children ages birth to five. Developed to fill a gap in year-round, all-day care, laker prep started in 2011 serving 10 families and quickly expanded to its current level of 90 families.

$1.2Mprogram 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
West Central InitiativeFY2024$35K
Total grants receivedfrom 1 funder$35K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.3M
Ln 12
Fees for servicesLn 2g$1.1M
Gifts and grantsLn 1h$170K
Other incomeLn 4–11$10K
Money outPt IX
$1.3M
Ln 25
Programscol B$1.2M
Managementcol C$162K
Fundraisingcol D$5K
Owns and owesPt X
−$22K
net assets · Ln 32
Cash and savingsLn 1–2$23K
Total assetsLn 16$181K
LiabilitiesLn 26$203K
PeoplePt VI, VII
8
listed · VII A
PaidVII A2
Voting boardVI 1a7
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$170K
Government grantsLn 1e$156K
Noncash giftsLn 1g$4K
Fees for servicesLn 2g$1.1M
Other incomeLn 4–11$10K
Total revenueLn 12$1.3M
Assets in detailPt X, end of year
CashLn 1$23K
Cash and savings togetherLn 1–2$23K
Land, buildings, equipmentLn 10c$63K
Other assetsLn 15$67K
Total assetsLn 16$181K
LiabilitiesLn 26$203K
Net assetsLn 32−$22K
OperationsPt I, VI
EmployeesI 541
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$26K$23K
Land, buildings, equipmentLn 10c$75K$63K
Total assetsLn 16$241K$181K
LiabilitiesLn 26$212K$203K
Net assetsLn 32$29K−$22K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$108K$12K$91K$5K
Other salaries and wagesLn 7$789K$786K$3K
Other employee benefitsLn 9$27$27
Payroll taxesLn 10$141K$134K$7K
Other fees for servicesLn 11g$23K$23K
Advertising and promotionLn 12$5K$4K$250
Office expensesLn 13$3K$3K
OccupancyLn 16$131K$131K
InterestLn 20$7K$7K
Depreciation, depletion and amortizationLn 22$16K$12K$4K
InsuranceLn 23$8K$8K
Other expenses (24a–d)Ln 24$100K$89K$11K$200
All other expensesLn 24e$5K$2K$3K
Total functional expensesLn 25$1.3M$1.2M$162K$5K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.3M$1.3M−$50K−$22K 990 PDF
FY2023 $1.4M$1.3M$8K$29K 990 PDF

More to add? Claim this org

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 FY2024 990 (6 parts)
Part I · Summary $1,283,735 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $263,976$170,103
I-9 Program service revenuePrior year $1,091,216$1,103,493
I-10 Investment income$0
I-11 Other revenuePrior year $173$10,139
I-12 Total revenuePrior year $1,355,365$1,283,735
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,001,734$1,037,645
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $345,465$296,532
I-18 Total expensesPrior year $1,347,199$1,334,177
I-19 Revenue less expensesPrior year $8,166−$50,442
Part VI · Governance 6 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,283,735 across 7 lines filed
VIII-1e Government grants$155,709
VIII-1f All other contributions, gifts and grants$14,394
VIII-1g Noncash contributions (included above)$3,801
VIII-1h Total contributions, gifts and grants$170,103
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,103,493$1,103,493
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $10,139$10,139
VIII-12 Total revenueRelated to mission $1,113,632$1,283,735
Part IX · Statement of functional expenses $1,334,177 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $12,348 · Management $90,806 · Fundraising $4,849$108,003
IX-7 Other salaries and wagesPrograms $786,192 · Management $2,690$788,882
IX-9 Other employee benefitsPrograms $27$27
IX-10 Payroll taxesPrograms $133,520 · Management $7,213$140,733
IX-11g Other fees for servicesManagement $22,524$22,524
IX-12 Advertising and promotionManagement $4,253 · Fundraising $250$4,503
IX-13 Office expensesManagement $2,518$2,518
IX-16 OccupancyPrograms $131,256$131,256
IX-20 InterestManagement $6,948$6,948
IX-22 Depreciation, depletion and amortizationPrograms $11,836 · Management $3,946$15,782
IX-23 InsuranceManagement $7,612$7,612
IX-24 Other expenses (24a–d)Programs $88,918 · Management $11,043 · Fundraising $200$100,161
IX-24e All other expensesPrograms $2,459 · Management $2,769$5,228
IX-25 Total functional expensesPrograms $1,166,556 · Management $162,322 · Fundraising $5,299$1,334,177
Part X · Balance sheet $180,912 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $26,343$22,522
X-4 Accounts receivableStart of year $50,236$28,365
X-9 Prepaid expenses and deferred charges$37
X-10c Land, buildings and equipment, netStart of year $74,788$62,807
X-15 Other assetsStart of year $89,574$67,181
X-16 Total assetsStart of year $240,941$180,912
X-17 Accounts payable and accrued expensesStart of year $5,190$500
X-24 Unsecured notes and loans payableStart of year $25,000$45,000
X-25 Other liabilitiesStart of year $98,569$81,119
X-26 Total liabilitiesStart of year $212,249$202,662
X-27 Net assets without donor restrictionsStart of year $28,692−$21,750
X-32 Total net assets or fund balancesStart of year $28,692−$21,750
X-33 Total liabilities and net assetsStart of year $240,941$180,912
Part XI · Reconciliation of net assets −$21,750 net assets at year end
XI-1 Total revenue$1,283,735
XI-2 Total expenses$1,334,177
XI-3 Revenue less expenses−$50,442
XI-4 Net assets at start of year$28,692
XI-10 Net assets at end of year−$21,750

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.