Laker Prep Early Childhood

What it reported doing in 2024

Laker prep is becker county's largest non-profit based childcare organization advocating for and serving families with high quality programming for children ages birth to five. Developed to fill a gap in year-round, all-day care, laker prep started in 2011 serving 10 families and quickly expanded to its current level of 90 families. Focused on serving the heart of its community, laker prep embraces diverse access to its wide range of services. Currently, 27% of children at laker prep receive subsidies, and 25% of enrolled children identify as non-white. Families currently served are in manufacturing, education, trades, retail, tourism, government, medical and human services fields. Standing firm in the belief that "big success starts small," laker prep staff and leadership are devoted to providing multiple avenues to the quality programming that rears the next generation of kind, successful, and thoughtful community leaders. Partnerships with external service providers ensure that children with all levels of need work towards developmental milestones and move into kindergarten with the skills necessary to be successful. Taking a comprehensive view of growing and stabilizing the childcare industry, laker prep focuses on childcare advocacy and reform, engaging in regional and statewide forums, task forces, and initiatives. Laker prep directors are also committed to mentoring and developing the next cohort of childcare practitioners. They partner with the local high school in creating opportunities for students to earn a child development associate and current laker prep staff are supported and incentivised to seek additional qualifications and certifications. Integrating itself in the network of family focused community organizations, laker prep supports and provides community activities, events, and resources to the area as a whole. As support for the organization increases, so too will the offerings for families around the region. Big success for laker prep means big success for the community, and it all starts small, with support from funders, community members, and all those willing to invest in the future.

Financial Efficiency

• Mission deployment rate: 90.9%; rating input score 91
• Program expense ratio: 87.4%; rating input score 87
• Fundraising efficiency: $32.1 raised per $1 spent on fundraising; rating input score 70; 70th percentile among comparable filings

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: 85.7%; rating input score 86; 20th percentile among comparable filings
• Governance controls: 5 of 8 controls in place; rating input score 62
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: NotApplicable
  • 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: -3.9%; rating input score 26; 26th percentile among comparable filings
• Total-asset coverage ratio: 0.14; rating input score 6; 6th percentile among comparable filings
• Liabilities to assets ratio: 1.12; rating input score 5; 5th percentile among comparable filings
• Officer compensation ratio: 8.1%; rating input score 43; 43rd percentile among comparable filings

Growth

• Program expense growth: -2% per year; rating input score 0; 12th percentile among comparable filings
• Revenue growth: -5.4% per year; rating input score 0; 5th percentile among comparable filings
• Asset growth: -28.5% per year; rating input score 0; 1st percentile among comparable filings