Keystone Learning Academy Inc

Nonprofit profile at a glance

EIN
610668916
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Louisville, KY, USA
Phone
5023842035
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Child Day Care

Official website

Reported finances

Revenue
$1,500,877
Expenses
$1,091,626
Assets
$1,104,819
Liabilities
$90,271

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

Leadership & pay

10 people listed

Executive titles in this filing

  • MICHELLE WYRICK (PRESIDENT)

Highest reported compensation

  • SHARON L HEMINGWAY (EXECUTIVE DI): $68,406 total reported compensation
  • JOHNETTA ANDERSON (EDUCATION DI): $54,592 total reported compensation
  • DAVEDA BULLITT (ASSISTANT DI): $50,782 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 enrich the lives of children and their families with educational, emotional, and physical development tools by providing high quality, engaging education, for infants, toddlers and preschool aged children.

What it reported doing in 2024

Keystone learning academy provides quality childcare and developmental programs for infants, toddlers, and preschool children. Throughout the day, the center currently provides early head start and head start services, wrap around care, healthy meals and snacks, and family engagement opportunities to children and their families. The center serves up to 82 children over 250 days throughout the year. Expenses: 1,091,625 grants: 0 revenue: 1,500,877

Operating model

Revenue model
Earned-program. 65% 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

STRONG - 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: 65
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 59
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.7%; rating input score 64
  • Program expense ratio: 87.6%; rating input score 88
  • 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 27.3%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 1.01; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 15.9%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: 4% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 2.1% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: 8.9% per year; rating input score 100; 55th percentile among comparable filings

Details

  • Where the money goes: 63.7% of revenue deployed · 87.6% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $956K in reported program spending
  • Leadership: top reported pay $68K · 10 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 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.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.