Joyce Preschool

Nonprofit profile at a glance

EIN
810594016
IRS 990 coverage
2011–2023
Forms available
Form 990 2023
Location
Minneapolis, MN, USA
Phone
9529747935
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Kindergarten, Preschool, Nursery School, Early Admissions

Reported finances

Revenue
$494,727
Expenses
$725,204
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • RYAN MULSO (EXECUTIVE DIRECTOR THROUGH OCTOBER)
  • ANDREA JAULI (INTERIM EXECUTIVE DIRECTOR BEG' NOVEMBER)

Highest reported compensation

  • RYAN MULSO (EXECUTIVE DIRECTOR THROUGH OCTOBER): $72,715 total reported compensation
  • ANDREA JAULI (INTERIM EXECUTIVE DIRECTOR BEG' NOVEMBER): $16,412 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of joyce preschool is to provide children from diverse ethnic, linguistic, and economic backgrounds with developmentally and culturally appropriate preparation for success in school and lifelong learning.

What it reported doing in 2023

Provided bilingual (spanish-english) early childhood education and family support services to approximately 125 families. In addition to the high-quality, anti-bias preschool curriculum and bilingual teaching staff who reflect the families in the program, joyce offers parent workshops, individual support through home visiting, and leadership development opportunities for parents/caregivers. Approximately 60% of families receive scholarships.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 85% 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. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 88
  • Accountability: 81
  • Sustainability: 6
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.6%; rating input score 91
  • Program expense ratio: 64.2%; rating input score 64
  • Fundraising efficiency: $3.68 raised per $1 spent on fundraising; rating input score 16; 16th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 26th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 94.3%; rating input score 94; 55th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 23rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -46.6%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 12.3%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 2.4% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 2.9% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 0.8% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 90.6% of revenue deployed · 64.2% of spending went to programs
  • Governance: 6 of 7 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $465K in reported program spending
  • Leadership: top reported pay $73K · 8 people listed
  • Consistency: 27 of 28 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2011 to 2023
  • 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.

Key Signals

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

  • High — Financial Efficiency: Fundraising efficiency scored 16/100.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 27/100.