Fairwind Learning Center

Nonprofit profile at a glance

EIN
471588668
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Marblehead, MA, USA
Phone
7819901862
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Kindergarten, Preschool, Nursery School, Early Admissions

Official website

Reported finances

Revenue
$720,767
Expenses
$649,466
Assets
$313,954
Liabilities
$90,155

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

Leadership & pay

4 people listed

Executive titles in this filing

  • ANA COLMENERO (PRESIDENT)
  • KATHY SWEETLAND (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KATHY SWEETLAND (EXECUTIVE DIRECTOR): $76,063 total reported compensation

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

Overview

Mission

The organization is an educational learning center that strives to provide young children with high quality education that focuses on age appropriate academics and development.

What it reported doing in 2024

Fairwind provides full and half day transitional kindergarten and preschool classes for children ages 3 to 6, and toddler classes for children age 2 to 3, that encourage children to ask questions and become problem solvers by fostering confidence and creating independent thinkers and lifelong learners. Transitional kidergarten and preschool ii attend the program monday through friday, while preschool i attend the center monday through thursday and students of the toddler class attend monday, tuesday and thursday. Transitional kindergarten and preschool ii programs are full day programs while preschool i and toddler are half day programs. Preschool i students have the option to stay an extra hour for lunch, on tuesdays and thursdays, for an additional fee.

Operating model

Revenue model
Earned-program. 95% 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.8%; rating input score 69
  • Program expense ratio: 76.3%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 9.9%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 0.48; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0.29; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 11.7%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 7.5% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: 7.6% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: 8.5% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 68.8% of revenue deployed · 76.3% of spending went to programs
  • Governance: 4 of 4 board members independent · 4 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $496K in reported program spending
  • Leadership: top reported pay $76K · 4 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: 4 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.