Easter Preschool

Nonprofit profile at a glance

EIN
411747226
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Eagan, MN, USA
Phone
6514523680
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Kindergarten, Preschool, Nursery School, Early Admissions

Official website

Reported finances

Revenue
$221,830
Expenses
$229,750
Assets
$109,895
Liabilities
$0

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

Leadership & pay

11 people listed

Executive titles in this filing

  • PASTOR MEGAN TORGERSON (Board President)
  • PAT IVERSON (Board Vice President)

Highest reported compensation

  • PASTOR MEGAN TORGERSON (Board President): $61,390 total reported compensation
  • ALICIA BORMAN (Program Director): $49,885 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 a quality educational experience for preschool children in a Christian context and gentle loving environment.

What it reported doing in 2024

An early childhood education that is rich in hands-on activity which allows the child to experiment and problem solve while providing the foundation for future academic experiences. We serve about 100 local children, 9 months of the year, by encouraging them to become independent and inquisitive learners now and throughout their lives.

Operating model

Revenue model
Earned-program. 87% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 98% 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

STRONG - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 75
  • Sustainability: 34
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.9%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 21st percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3.6%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 0.48; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 21.7%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: 1.3% per year; rating input score 100; 36th percentile among comparable filings
  • Revenue growth: 4.3% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: -6.8% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.9% of spending went to programs
  • Governance: 8 of 10 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $225K in reported program spending
  • Leadership: top reported pay $61K · 11 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

Key Signals

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

  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.