Preschool at Chapel of the Cross

Nonprofit profile at a glance

EIN
561022052
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Chapel Hill, NC, USA
Phone
9199325074
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Child Day Care
Affiliation
Christianity

Official website

Reported finances

Revenue
$327,146
Expenses
$329,873
Assets
$224,580
Liabilities
$53,326

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

Leadership & pay

11 people listed

People named in this filing

  • JULEE COLNER (DIRECTOR/TRE)
  • BETSEY DUTHE (DIRECTOR/COM)
  • ANNA JACOBS (DIRECTOR/VP-)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To provide quality pre-school child care and education 327,146

What it reported doing in 2024

We provide quality pre-school child care to approximately 50 students throughout the school year. We serve age groups two through five with a student-teacher ratio of approximately 6:1. Financial assistance funded from private resources was awarded to several students.

Operating model

Revenue model
Other-operating. 98% of the money available for current operations came from other operating 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 6
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.4%; rating input score 97
  • Program expense ratio: 95%; rating input score 95
  • 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: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -0.8%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 0.68; rating input score 31; 31st percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 3.7% per year; rating input score 100; 48th percentile among comparable filings
  • Revenue growth: 1.5% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 0.7% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 97.4% of revenue deployed · 95% of spending went to programs
  • Governance: 0 of 9 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $313K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • 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 — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 37/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 31/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.