BrightSpark Early Learning Services

What it reported doing in 2024

A young child, even an infant, is learning every moment of every day. A babys brain grows to 90% of its adult size during the first 3 years of life. Young children learn through observing and exploring their world, by using their senses, and most importantly, in nurturing relationships with their caregivers. We partner with families with young children to help them find and access high quality early learning programs and resources offered statewide. We also partner with early learning teachers who provide high quality care for all children in King and Pierce Counties.BrightSpark helps families find childcare that supports a child's unique needs, thefamilys values, and culture, and fits their work or other activities. Parents have many options for care, including care by a family member, care in the home by a family friend or nanny, licensed childcare, private preschools and Head Start or ECEAP. Staff at BrightSpark talk with the family about their needs and wishes for care; explain what quality care looks like, and then help in the childcare search. If the choice is licensed childcare, BrightSpark provides a customized list of options. Licensed childcare is expensive, so we help families find resources to pay for care. Children who get safe, nurturing play and learning experiences are ready for school; those who dont are most often the ones who start behind and stay behind. In fact, 55% of children in WA are not prepared to enter kindergarten and the percentage rises to 75% among low-income children. Based in King and Pierce Counties, Washington working locally and state-wide, BrightSpark helps build quality childcare and early learning access for all children. BrightSpark is a respected leader in forging and honoring collaborations and building

Financial Efficiency

• Mission deployment rate: 92%; rating input score 92
• Program expense ratio: 91.4%; rating input score 91
• Fundraising efficiency: $110.16 raised per $1 spent on fundraising; rating input score 86; 86th percentile among comparable filings

Transparency & Controls

• Consistency checks: 94.1%; rating input score 94; 20th percentile among comparable filings
• Pay-setting controls: 1 of 6 controls in place; rating input score 17
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 94.4%; rating input score 94; 24th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -0.6%; rating input score 28; 28th percentile among comparable filings
• Total-asset coverage ratio: 0.28; rating input score 7; 7th percentile among comparable filings
• Liabilities to assets ratio: 0.6; rating input score 22; 22nd percentile among comparable filings
• Officer compensation ratio: 3.6%; rating input score 63; 63rd percentile among comparable filings

Growth

• Program expense growth: 17.8% per year; rating input score 100; 87th percentile among comparable filings
• Revenue growth: 15.7% per year; rating input score 100; 87th percentile among comparable filings
• Asset growth: 8.9% per year; rating input score 100; 60th percentile among comparable filings