2023-07-31T14:24:19-05:00 2022-12-31 882730877 CHERRY BEKAERT ADVISORY LLC 1075 PEACHTREE STREET NE SUITE 2200 ATLANTA GA 30309 990 2022-01-01 582491036 EARLY LEARNING PROPERTY MANAGEMENT INC EARL 6783771777 3715 NORTHSIDE PARKWAY NW 3-660 ATLANTA GA 30327 DAVID F HADDOW CHAIRMAN 6783771777 2023-07-28 1 DAVID HADDOW 999009999 0 AMANDA ADAMS P00748038 4042090954 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z DAVID F HADDOW 3715 NORTHSIDE PARKWAY NW 3-660 ATLANTA GA 30327 3360395 0 X WWW.ELPM.ORG X 1999 GA TO PROVIDE AFFORDABLE CLASSROOMS FOR EARLY LEARNING PROGRAMS HELPING DISADVANTAGED YOUTH IN GEORGIA THROUGH THE PURCHASE OR LEASE AND RENOVATION OR CONSTRUCTION OF CLASSROOM FACILITIES. THE FACILITIES ARE LEASED AT A BELOW-MARKET RATE TO EARLY LEARNING PROGRAMS, SUCH AS HEADSTART, THAT ARE 501(C)(3) ORGANIZATIONS. FACILITIES MAY ALSO BE PROVIDED TO EARLY LEARNING PROGRAMS THROUGH SALES, DIRECT FINANCING LEASES, OR DEVELOPMENT/CONSTRUCTION AGREEMENTS. 12 12 2 0 0 0 1134640 1147005 1436026 1340268 136488 -94846 44383 0 2751537 2392427 15000 653455 0 0 155725 252932 0 0 0 1243679 1499383 1414404 2405770 1337133 -13343 26441881 26367579 363817 1151996 26078064 25215583 TO BUILD EARLY LEARNING CENTERS, PRIMARILY IN DISADVANTAGED NEIGHBORHOODS, THAT PROVIDE HIGH QUALITY EDUCATION AND NURTURING PROGRAMS FOR CHILDREN IN NEED FROM BIRTH THROUGH FIVE YEARS OF AGE. 0 0 1243020 1340268 THE ORGANIZATION PERFORMS TWO RELATED FUNCTIONS. THE FIRST IS TO PURCHASE OR BUILD FACILITIES FOR EARLY LEARNING PROGRAMS RUN BY 501(C)(3) ORGANIZATIONS, SUCH AS HEADSTART. AS OF DECEMBER 31, 2022, THE ORGANIZATION HAS COMPLETED ELEVEN CONSTRUCTION/RENOVATION PROJECTS. UPON COMPLETION OF THE CONSTRUCTION/RENOVATION, THE PROPERTIES ARE LEASED AT A BELOW-MARKET RENT TO 501(C)(3) ORGANIZATIONS WHICH PROVIDE EARLY LEARNING PROGRAMS. SUCH RENT COVERS THE COSTS OF LEASING AND MAINTAINING THE FACILITIES AS WELL AS FUTURE CAPITAL IMPROVEMENTS. AS OF DECEMBER 31, 2022, THE ORGANIZATION HAS LEASED THE ELEVEN COMPLETED PROJECTS. 714555 638455 DURING 2021, THE ORGANIZATION BEGAN A NEW PROGRAM TO COLLABORATE WITH GEEARS: THE GEORGIA EARLY EDUCATION ALLIANCE FOR READY STUDENTS, INC. TO HELP EARLY CHILDHOOD EDUCATION PROVIDERS IMPROVE THE QUALITY OF EARLY LEARNING ENVIRONMENTS BY MAKING GRANTS AVAILABLE FOR SMALL CAPITAL AND MAINTENANCE PROJECTS FOR EXISTING EARLY LEARNING FACILITIES. THE ORGANIZATION WILL USE ITS EXTENSIVE KNOWLEDGE REGARDING THE CONSTRUCTION/RENOVATION OF EARLY LEARNING FACILITIES TO OVERSEE THE CAPITAL AND MAINTENANCE PROJECTS ON BEHALF OF THE GRANT RECIPIENTS. 15000 15000 THE SIBLEY GRANT IS A COMPETITION BETWEEN ONLY THE ELPM CENTERS AS DEEMED BY THE ORIGINAL GIFTING FUNDERS: THE HARLAND FOUNDATION ($100,000) AND THE PITTULLOCH FOUNDATION ($100,000). EACH YEAR THE ELPM CENTERS COMPETE FOR THIS GRANT TO INTRODUCE A NEW PROGRAM TO THEIR EXISTING PROGRAM SERVICES. 1972575 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 8 0 1 2 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 0 0 GA X KARA PORTNELL 6783771777 3715 NORTHSIDE PARKWAY NW SUITE ATLANTA GA 30327 DAVID F HADDOW CHAIRMAN 0.10 0.00 X X 0 0 0 MIKE RILEY FINANCE COMMITTEE CHAIR 0.10 0.00 X X 0 0 0 JIM BEATY SECRETARY 0.10 0.00 X X 0 0 0 MARY PAT CROUCH TRUSTEE 0.10 0.00 X 0 0 0 GAIL EDWARDS TRUSTEE 0.10 0.00 X 0 0 0 EDRICK HARRIS TRUSTEE 0.10 0.00 X 0 0 0 BANK HIPP TRUSTEE 0.10 0.00 X 0 0 0 YOLANDA MARROQUIN TRUSTEE 0.10 0.00 X 0 0 0 DAVE MATHEWS TRUSTEE 0.10 0.00 X 0 0 0 DONATA RUSSELL ROSS TRUSTEE 0.10 0.00 X 0 0 0 JERE J SMITH TRUSTEE 0.10 0.00 X 0 0 0 MARK SUTTON TRUSTEE 0.10 0.00 X 0 0 0 KARA PORTNELL EXECUTIVE DIRECTOR 40.00 0.00 X 140000 0 35000 140000 0 35000 1 0 1 0 GENE LYNN ELECTRIC 125 PALMETTO ROAD TYRONE GA 30290 ELECTRICAL WORK 335993 LEVEL CONSTRUCTION SRVCS INC 1731 COMMERCE DR NW STE 111 ATLANTA GA 30318 BUILDING CONSTRUCTION 195339 MAXAIR MECHANICAL 814 LIVINGSTON COURT MARIETTA GA 30067 HVAC WORK 164307 GAY CONSTRUCTION COMPANY PO BOX 723657 ATLANTA GA 31139 BUILDING CONSTRUCTION 154406 SITE SPECIALTIES P O BOX 333 JERSEY GA 30018 BUILDING CONSTRUCTION 117658 5 1147005 1147005 LEARNING CTR RENTAL 531120 1340268 1340268 1340268 113430 113430 759692 967968 -208276 -208276 -208276 2392427 1340268 0 -94846 653455 653455 175000 175000 63333 63333 14599 14599 79320 79320 27567 27567 7883 7883 439 439 22601 22601 8164 8164 642487 642487 84877 76880 7997 REPAIRS & MAINTENANCE 467719 467719 QFI PROJECT EXPENSES 76100 76100 CENTER RENTAL EXPENSE 55934 55934 26292 26292 2405770 1972575 433195 0 4909170 5458952 3491 15198 4508 7131 28648397 14413354 14386009 14235043 6415954 5413573 722749 1237682 26441881 26367579 203095 85019 298827 84419 86952 76303 681198 363817 1151996 X 22833417 21998024 3244647 3217559 26078064 25215583 26441881 26367579 -13343 -849138 0 X 0 1 X 1 0 X 3691 4635 17880 1134640 1147005 2307851 3691 4635 17880 1134640 1147005 2307851 117884 2189967 106295 115257 75945 57673 113430 468600 2776451 7113235 0.78880 0.53010 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2864137 -421107 2443030 2581170 282967 2864137 2266663 314507 2581170 1939246 327417 2266663 2011194 -71948 1939246 1.00000 0 0 1933326 1933326 21439154 11909114 9530040 4276008 1591490 2684518 999909 912750 87159 14235043 DEPOSIT - WARSAW - ES 4616 DEFERRED RENT LIABILITY 676582 681198 X 1562089 -849138 46367 -802771 2364860 27567 27567 2392427 2424570 46367 46367 2378203 27567 27567 2405770 PART V, LINE 4: NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PERMANENTLY RESTRICTED NET ASSETS REPRESENT A $2,140,000 CONTRIBUTION THAT WAS INITIALLY PROVIDED BY A GRANTING AGENCY TO BE USED, ALONG WITH OTHER FUNDS, TO RENOVATE A CHILD CARE CENTER. UPON THE COMPLETION OF THE CHILD CARE CENTER THE FACILITY WAS SUBLEASED TO A CHILD DEVELOPMENT PROGRAM IN A DIRECT FINANCING LEASE TRANSACTION. IN ACCORDANCE WITH THE DONOR STIPULATION, A PORTION OF EACH LEASE PAYMENT IS TO BE SET ASIDE TO FUND A PERMANENT ENDOWMENT OF $2,140,000. IN ADDITION, THE DONOR HAS STIPULATED THAT THE INCOME FROM THE ENDOWMENT IS EXPENDABLE BEGINNING IN 2025, WHICH REPRESENTS 20 YEARS FROM THE DATE THE LEASE TRANSACTION WAS ENTERED INTO, TO SUPPORT CAPITAL EXPENDITURES FOR THE ORGANIZATION'S METROPOLITAN ATLANTA CHILD DEVELOPMENT CENTERS AND MAY BE UTILIZED AS COLLATERAL SHOULD THE NEED ARISE TO OBTAIN A BRIDGE LOAN FOR THE COMPLETION OF ANY THE ORGANIZATION'S PROJECTS. DURING THE YEAR ENDED DECEMBER 31, 2016, ALL AMOUNTS UNDER THE DIRECT FINANCING LEASE WERE PAID IN FULL AND THE PROCEEDS WERE UTILIZED TO FUND THE $2,140,000 PERMANENT ENDOWMENT. DURING THE YEAR ENDED DECEMBER 31, 2017, THE GRANTING AGENCY APPROVED THE RE-DESIGNATION OF $250,000 OF THE ENDOWMENT FROM PERMANENTLY RESTRICTED TO UNRESTRICTED TO FUND CAPITAL EXPENDITURES FOR THE GWINNETT DEVELOPMENT CENTER, WHICH REDUCED THE CORPUS OF THE ENDOWMENT TO $1,890,000. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE. PART X, LINE 2: THE ORGANIZATION IS A NONPROFIT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS AMENDED, AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES; ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES. MANAGEMENT BELIEVES THE ORGANIZATION CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION AT DECEMBER 31, 2022. MANAGEMENT HAS EVALUATED ALL OTHER TAX POSITIONS THAT COULD HAVE A SIGNIFICANT EFFECT ON THE FINANCIAL STATEMENTS AND DETERMINED THE ORGANIZATION HAD NO UNCERTAIN INCOME TAX POSITIONS AT DECEMBER 31, 2022. 1 YMCA OF METROPOLITAN ATLANTA 569 MARTIN LUTHER KING JR DRIVE ATLANTA GA 30314 580566253 501(C)(3) 15000 0 PROGRAM SUPPORT FUN TO LEARN DAY CARE 917 BOLTON RD NW ATLANTA GA 30331 26824 0 QUALITY FACILITIES INITIATIVE KALE ACADEMY 1016 FAIRBURN ROAD NW ATLANTA GA 30331 29761 0 QUALITY FACILITIES INITIATIVE KIDS TIME LEARNING 1802 HOLLYWOOD ROAD ATLANTA GA 30318 16269 0 QUALITY FACILITIES INITIATIVE LOVING CARE DAYCARE CENTER 1037 HOLLYWOOD ROAD NW ATLANTA GA 30318 128557 0 QUALITY FACILITIES INITIATIVE FUTURE LEADERS 51 POLAR ROCK RD SW ATLANTA GA 30315 61231 0 QUALITY FACILITIES INITIATIVE KIDAZZLE 674 JOSEPH E LOWERY BLVD ATLANTA GA 30310 26500 0 QUALITY FACILITIES INITIATIVE NORTHWEST YOUTH POWER 471 GLENWOOD RD DECATUR GA 30032 47392 0 QUALITY FACILITIES INITIATIVE HOLLYWOOD DAYCARE CENTER 1040 HOLLYWOOD ROAD NW ATLANTA GA 30318 7861 0 QUALITY FACILITIES INITIATIVE SMILING FACES DAYCARE 1206 E 7TH ST DONALSONVILLE GA 39845 58812 0 QUALITY FACILITIES INITIATIVE GATE CITY DAY NURSERY ASSOCIATION INC 2080 CASCADE ROAD SW ATLANTA GA 30311 76464 0 QUALITY FACILITIES INITIATIVE EDUCATION STATION CHILDREN'S CORPORATION 4300 OLD JONESBORO ROAD FOREST PARK GA 30297 74641 0 QUALITY FACILITIES INITIATIVE MORROW EARLY LEARNING CENTER 5881 PHILLIPS DRIVE FOREST PARK GA 30297 76743 0 QUALITY FACILITIES INITIATIVE 1 12 PART I, LINE 2: SIBLEY AWARD: THE SIBLEY COMPETITION IS SOLELY BETWEEN THE ELPM CENTERS AND COMPETITION PROJECT SUBMITTALS FOLLOW AN ESTABLISHED RFP GUIDELINE PROCESS. ONCE PROJECTS ARE SUBMITTED, FOLLOWING THE ESTABLISHED PROCESS, A JUDGING PANEL, MADE UP OF LOCAL BUSINESS LEADERS, REVIEWS THE PROJECTS AND CHOOSES A WINNER. THE WINNING CENTER IS AWARDED $15,000 FOR THE SUBMITTED PROJECT AND FUNDS ARE TO BE UTILIZED FOR THE PROJECT IN THE FOLLOWING SCHOOL YEAR. A GRANT PROGRESS REPORT IS DUE TO ELPM APPROXIMATELY SIX (6) MONTHS FROM THE DATE OF RECEIVING THE GRANT FUNDS, FOLLOWED BY AN END OF GRANT CONCLUSION REPORT, WHICH IS DUE TWELVE (12) MONTHS/END OF SCHOOL YEAR FROM RECEIPT OF THE GRANT AWARD. THE END OF GRANT REPORT IS SUBMITTED ON A PREESTABLISHED TEMPLATE AND INCLUDES AN OUTLINE OF EXPENSES INCURRED UNDER THE GRANT. QUALITY FACILITIES INITIATIVE: THE QFI IS A COMPETITIVE GRANT PROCESS AWARDING GRANTS TO ELIGIBLE CHILDCARE PROGRAMS IN METRO ATLANTA SERVING CHILDREN FROM BIRTH TO FIVE YEARS OF AGE IN UNDERSERVED AREAS. CAPTURING ON ITS CONSTRUCTION EXPERTISE, ELPM IMPLEMENTS AND MANAGES ALL ASPECTS OF THE MAINTENANCE OR CAPITAL PROJECT ON BEHALF OF THE AWARDED CENTER. FUNDS ARE PAID DIRECTLY TO THE SERVICE PROVIDERS ENGAGED IN THE PROJECT SO ELPM ENSURES THE FUNDS ARE USED FOR THE INTENDED PURPOSES. X 0 0 0 0 0 0 0 0 0 KARA PORTNELL EXECUTIVE DIRECTOR 130000 0 0 0 10000 0 35000 0 0 0 175000 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE EXECUTIVE DIRECTOR FORWARDS COPIES OF FORM 990 TO EACH OF THE BOARD MEMBERS TO REVIEW. THE BOARD DISCUSSES THE FORM 990 AT A BOARD MEETING AND ADDRESSES ANY COMMENTS AND/OR CHANGES TO THE FORM 990. THE BOARD APPROVES THE FORM 990 PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL OFFICER, AND MEMBER OF A COMMITTEE WITH BOARD-DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, AND HAS AGREED TO COMPLY WITH THE POLICY. FURTHERMORE, PERIODIC REVIEWS ARE CONDUCTED TO DETERMINE WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE AND ARE THE RESULTS OF ARM'S-LENGTH BARGAINING AND TO DETERMINE WHETHER THE POLICY HAS BEEN FOLLOWED OR IS IN NEED OF REVISION. ANY POTENTIAL CONFLICTS OF INTEREST ARE PRESENTED AT BOARD MEETINGS. THE PARTY INVOLVED IN THE POTENTIAL CONFLICT MAKES A PRESENTATION TO THE BOARD OF ALL RELEVANT FACTS AND THEN THE BOARD MEETS TO DISCUSS THE CONFLICT WITHOUT THE PARTY VOTING. THE REMAINING BOARD OR COMMITTEE MEMBERS DECIDE IF A CONFLICT EXISTS AND IF IT IS A PROHIBITED CONFLICT OF INTEREST. IF IT IS A PROHIBITED CONFLICT OF INTEREST, THE BOARD WILL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD CHAIR AND THE EXECUTIVE COMMITTEE CONDUCT AN ANNUAL COMPENSATION REVIEW FOR THE EXECUTIVE DIRECTOR POSITION. ANY COMPENSATION ADJUSTMENTS ARE PROVIDED IN WRITING TO THE ACCOUNTING MANAGER, THE EXECUTIVE DIRECTOR, AND THE PAYROLL COMPANY. CONTROLS RELATED TO SEGREGATION OF DUTIES EXIST BETWEEN THE BOARD CHAIR, ACCOUNTING MANAGER, AND EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION B, LINE 15B: NOT APPLICABLE AS THERE ARE NO OTHER OFFICERS OR KEY EMPLOYEES OF THE ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.