Circles of Learning Inc

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1971

Legal Domicile

Principal Officer

Joseph Quillen

Phone

8152268715

Tax Period

2024-07-01 to 2025-06-30

Circles of Learning Inc, founded in 1971, is a community nonprofit in the Human Services sector that reported $3.6M in total revenue in fiscal year 2024. Net assets of $8.0M represent 27 months of operating reserves.

Mission

To provide high quality, affordable child care services and a comprehensive support network so that families can achieve and maintain social and economic independence. Our philosophy is supported by creating a safe and nurturing environment that promotes the physical, social, emotional and cognitive development of each child enrolled.

Program Service Accomplishments

Program 1

Expenses: $3,268,692 Revenue: $475,769

The services offered include infant/toddler care, enhanced pre-school educational services in collaboration with the Rockford Public Schools Early Childhood Program and Before and After School Care including summer and holidays. Additional services include nutrition, ongoing learning assessments, family events, and a sliding fee scale based on family size and income. Enrollment for 2023/2024 was 284 children.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,996,369

Program Service Revenue $475,769

Investment Income $103,129

Other Revenue $36

TOTAL REVENUE $3,575,303

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,783,793

Fundraising Expenses $55,194

Program Expenses $3,268,692

Other Expenses $900,110

TOTAL EXPENSES $3,683,903

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,575,303	$3,716,399	0.0%
Expenses	$3,683,903	$3,233,613	+0.1%
Net Income	$-108,600	$482,786	-1.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$101,698

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Joseph Quillen	President	1.00	Officer Director	$0	$0	$0
David Grzelak	Vice President	1.00	Officer Director	$0	$0	$0
Jim Hasler	Treasurer	1.00	Officer Director	$0	$0	$0
Alexis Simmons	Secretary	1.00	Officer Director	$0	$0	$0
Danielle Angileri	Director	1.00	Director	$0	$0	$0
Brenda Cruz	Director	1.00	Director	$0	$0	$0
Tricia Magers	Director	1.00	Director	$0	$0	$0
Laura Olson	Executive Director	40.00	Officer	$91,058	$10,640	$101,698

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$3,575,303	$3,683,903	$9,325,300	$-108,600
2024	$3,716,399	$3,233,613	$9,193,734	$482,786
2023	$2,877,405	$2,573,733	$8,462,887	$303,672
2022	$2,882,428	$2,304,676	$8,049,272	$577,752
2021	$3,070,475	$2,194,400	$8,473,274	$876,075
2020	$2,768,068	$2,582,140	$7,328,809	$185,928
2019	$2,760,274	$2,551,581	$7,200,765	$208,693