Clasp Childrens Center Inc

Nonprofit profile at a glance

EIN
112378575
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Great Neck, NY, USA
Phone
5164828090
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Official website

Reported finances

Revenue
$1,334,473
Expenses
$1,372,517
Assets
$1,397,562
Liabilities
$448,986

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

2 people listed

Highest reported compensation

  • ERICA SOMMERS (CO-DIRECTOR): $96,425 total reported compensation
  • ARPI ARUKIAN (CO-DIRECTOR): $90,225 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide quality childcare for working parents in great neck and surrounding communities. The center supports all aspects of children's growth and development in a safe and nurturing educational environment.

What it reported doing in 2024

Early childhood care

Operating model

Revenue model
Earned-program. 90% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 86
  • Accountability: 74
  • Sustainability: 32
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73%; rating input score 73
  • Program expense ratio: 72.5%; rating input score 72
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.9%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 1.02; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.32; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 13.6%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: -0.2% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: 1.2% per year; rating input score 100; 20th percentile among comparable filings
  • Asset growth: 11.2% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 73% of revenue deployed · 72.5% of spending went to programs
  • Governance: 4 of 4 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $995K in reported program spending
  • Leadership: top reported pay $96K · 2 people listed
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 28/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.
  • High — Sustainability: Officer compensation ratio scored 26/100.