2026-07-23T06:51:17-05:00 2025-12-31 882730877 CHERRY BEKAERT ADVISORY LLC 1075 PEACHTREE STREET NE SUITE 1600 ATLANTA GA 30309 990 2025-01-01 582491036 EARLY LEARNING PROPERTY MANAGEMENT INC EARL 6783771777 3715 NORTHSIDE PARKWAY NW 3-660 ATLANTA GA 30327 JAMES W BEATY JR CHAIRMAN 6783771777 2026-07-02 1 MELANIE MCPEAK P01346034 4042090954 2025 2025-03-06 01:10:19Z JAMES W BEATY JR 3715 NORTHSIDE PARKWAY NW 3-660 ATLANTA GA 30327 6101745 0 X WWW.ELPM.ORG X 1999 GA ELPM DISBURSED $2,451,389 THROUGH QFI/PAACT AND FIP PROJECTS FOR CAPITAL IMPROVEMENTS AT (INSERT #) SELECTED CHILDCARE CENTERS, IN ADDITION TO PROPERTIES OWNED, MAINTAINED, AND IMPROVED BY ELPM. ELPM ALSO SOLD A NON-OPERATING PROPERTY FORMERLY LEASED TO BROOKVALLEY, RECOGNIZING A GAIN OF $1,457,608, AND REINVESTED A PORTION OF THE PROCEEDS IN THE ACQUISITION OF A NEW CHILDCARE CENTER, ANTWONG'S, TO FURTHER ITS MISSION OF IMPROVING EARLY LEARNING FACILITIES IN UNDERSERVED COMMUNITIES. 11 11 3 12 0 0 2565000 2045099 1386819 1414869 375040 2200050 0 0 4326859 5660018 1372073 2476450 0 0 454037 485989 0 0 0 1567101 1780650 3393211 4743089 933648 916929 28811622 30600966 959683 999341 27851939 29601625 TO TRANSFORM EARLY CHILDHOOD DEVELOPMENT IN UNDERSERVED COMMUNITIES BY BUILDING AND MAINTAINING HIGH QUALITY, SAFE FACILITIES AND ENHANCING EXISTING CENTERS. 0 0 1551003 1414869 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, 2025, 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, 2025, THE ORGANIZATION HAS LEASED THE ELEVEN COMPLETED PROJECTS. 2451389 2451389 DURING 2021, THE ORGANIZATION BEGAN A NEW PROGRAM, QUALITY FACILITIES INITIATIVE, AND COLLABORATED WITH GEEARS, THE GEORGIA EARLY EDUCATION ALLIANCE FOR READY STUDENTS, INC. IN ITS PAACT PROGRAM 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. 25061 25061 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. 4027453 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 3 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 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 JIM BEATY CHAIRMAN 0.10 0.00 X X 0 0 0 DAVE MATHEWS FINANCE COMMITTEE CHAIR 0.10 0.00 X X 0 0 0 EDRICK HARRIS SECRETARY 0.10 0.00 X X 0 0 0 AUDREY IDAIKKADAR TRUSTEE 0.10 0.00 X 0 0 0 DELILAH WYNN-BROWN TRUSTEE 0.10 0.00 X 0 0 0 ELLYN COCHRAN TRUSTEE 0.10 0.00 X 0 0 0 GAIL EDWARDS TRUSTEE 0.10 0.00 X 0 0 0 JONATHAN LEVENS TRUSTEE(AS OF 6/25) 0.10 0.00 X 0 0 0 MARK SUTTON TRUSTEE 0.10 0.00 X 0 0 0 MARY PAT CROUCH TRUSTEE 0.10 0.00 X 0 0 0 YOLANDA MARROQUIN TRUSTEE 0.10 0.00 X 0 0 0 KARA PORTNELL EXECUTIVE DIRECTOR 50.00 0.00 X 175500 0 43667 MICHAEL LUNTSFORD PROJECT MGR./BLDG OPS 40.00 0.00 X 119368 0 0 294868 0 43667 2 0 1 0 BANNER SERVICES 191 JEANETTE STREET CANTON GA 30114 GENERAL CONTRACTOR 715270 JASPER OUTDOOR SERVICES LLC 1928 SPRAYBERRY RD MONTICELLO GA 31064 PLAYGROUND EQUIPMENT 633192 MAXAIR MECHANICAL 814 LIVINGSTON COURT SE MARIETTA GA 30067 HVAC 414287 ATLANTA ROOF SOLUTIONS 227 SANDY SPRINGS PL D163 SANDY SPRINGS GA 30328 ROOFING 303110 SHUFORD CONSTRUCTION SERVICES 181 EAST MOUNT ZION CHURCH RD LAGRANGE GA 30241 GENERAL CONTRACTOR 293043 8 1550000 495099 2045099 LEARNING CTR RENTAL 531120 1414869 1414869 1414869 285198 285198 898971 1457608 441727 0 457244 1457608 1914852 1914852 5660018 1414869 0 2200050 2476450 2476450 219167 219167 212826 212826 24121 24121 29875 29875 93694 93694 36171 36171 6958 6958 8419 8419 39818 39818 12225 12225 728584 728584 158337 135356 22981 REPAIRS & MAINTENANCE 630318 630318 CENTER RENTAL EXPENSE 56745 56745 9381 9381 4743089 4027453 715636 0 6459003 8196599 250000 0 2375 8125 0 8084 28091139 14891974 13922609 13199165 6429433 7448415 620854 711808 1127348 1028770 28811622 30600966 178095 273129 175226 189460 79911 82308 526451 454444 959683 999341 X 22236403 23850807 5615536 5750818 27851939 29601625 28811622 30600966 916929 832757 0 X 0 1 X 1 0 X 1134640 1147005 1576516 2565000 2045099 8468260 1134640 1147005 1576516 2565000 2045099 8468260 725834 7742426 57673 113430 225593 283122 285198 965016 44383 1500 45883 9479159 7081049 0.81680 0.83890 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3120273 552120 3672393 2764124 356149 3120273 2443030 321094 2764124 2864137 -421107 2443030 2581170 282967 2864137 0.00000 1.00000 0.00000 0 0 1808326 1808326 19806514 11617051 8189463 5400083 2335515 3064568 999909 898711 101198 76307 40697 35610 13199165 DEPOSIT - WARSAW - ES 17947 DEFERRED RENT LIABILITY 436497 454444 X 6547704 832757 91100 923857 5623847 36171 36171 5660018 4798018 91100 91100 4706918 36171 36171 4743089 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, 2025. 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, 2025. 1 ANTWONG'S LEARNING ACADEMY 5956 OLD DIXIE HWY FOREST PARK GA 30297 79391 0 QUALITY FACILITIES INITIATIVE EARLY JOURNEY CHILD DEVELOPMENT CENTER 799 HUTCHENS RD SE ATLANTA GA 30354 19992 0 PAACT REPAIR & RENOVATION PROGRAM LA KIDS ACADEMY 2705 FAVOR ROAD MARIETTA GA 30060 11851 0 QUALITY FACILITIES INITIATIVE A MARK FOR SUCCESS 1940 BROWNSMILL RD ATLANTA GA 30315 99332 0 PAACT REPAIR & RENOVATION PROGRAM KIDZZ CHOICE ACADEMY 2062 CHILDRESS DR SW ATLANTA GA 30311 76758 0 PAACT REPAIR & RENOVATION PROGRAM LEARNING LEGENDS ELC 2700 BUTNER RD SW ATLANTA GA 30331 75716 0 PAACT REPAIR & RENOVATION PROGRAM MOTHER HUBBARDS EARLY LEARNING 2392 DONALD LEE HOLLOWELL PKWY ATLANTA GA 30318 100398 0 PAACT REPAIR & RENOVATION PROGRAM MS GREEN'S KIDDIE GARDEN 4682 GREENLEAF CIRCLE SW ATLANTA GA 30331 70227 0 PAACT REPAIR & RENOVATION PROGRAM WIZ KIDS LEARNING ACADEMY 3915 OLD GORDON RD NW ATLANTA GA 30331 70792 0 PAACT REPAIR & RENOVATION PROGRAM GLOBES EARLY LEARNING CENTER 1929 MYRTLE DRIVE ATLANTA GA 30311 23065 0 PAACT REPAIR & RENOVATION PROGRAM SHYNOBIAS 702 MAIN STREET FOREST PARK GA 30297 81758 0 QUALITY FACILITIES INITIATIVE T'S BUILDING BLOCKS 217 ROUNTREE RD RIVERDALE GA 30274 62882 0 QUALITY FACILITIES INITIATIVE KER ACADEMY 57 MERRITT STREET MARIETTA GA 30060 74686 0 QUALITY FACILITIES INITIATIVE LA KIDS ACADEMY 2705 FAVOR RD MARIETTA GA 30060 11851 0 QUALITY FACILITIES INITIATIVE MARIETTA ELC 165 N FAIRGROUNDS ST MARIETTA GA 30060 73878 0 QUALITY FACILITIES INITIATIVE YOUNG EINSTEINS 2327 AUSTELL RD SW MARIETTA GA 30080 84932 0 QUALITY FACILITIES INITIATIVE A FUN TIME OUT 335 ARCADO ROAD NW LILBURN GA 30047 65033 0 QUALITY FACILITIES INITIATIVE GROW MONTESSORI 1039 CAMILLA ST SW ATLANTA GA 30314 273793217 501(C)(3) 76025 0 PAACT REPAIR & RENOVATION PROGRAM ATLANTA CHILDREN'S SHELTER 607 PEACHTREE STREET NE ATLANTA GA 30308 581675299 501(C)(3) 35304 0 PAACT REPAIR & RENOVATION PROGRAM 2 17 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 $25,000 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 165500 0 0 0 10000 0 43667 0 0 0 219167 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.