MUMS - THE KITTY HUPMAN WEEKDAY SCHOOL

For calendar year ending December 31, 2023, MUMS served 47 preschool students, 30 school-age students and 45 summer camper kids. The gross revenue generated through serving these children was $265,139 with the total overall expenses being $308,197 to operate the childcare organization and serve these children. The expenses allocated to program expenses is $127,623. The childcare organization was awarded and received a "Stabilization Grant" from the North Carolina Department of Health and Human Services (NCDHHS) totaling $39,867 in 2023. The Stabilization Grant is defined on the NCDHHS website (https://ncchildcare.ncdhhs.gov/Home/Stabilization-Grants) as "North Carolina child care stabilization grants are non-competitive financial awards made directly to eligible, qualified early care and learning programs across the state to sustain and stabilize their businesses, support working families with access to high-quality, affordable care and education, and promote equity for children, parents, and teachers. Child care programs must apply for Stabilization Grants. Each approved program receives a fixed costs and families grant, based on capacity, subsidized child care enrollment, program quality (star rating), infant/toddler enrollment, and community context (using Social Vulnerability Index). Programs may choose to also receive additional funding, compensation supports grants, to support recruitment and retention. The two components are intended to grant early care and learning programs the funds to facilitate high quality early childhood education at its true cost and attract and retain high-quality teachers by increasing compensation." The childcare organization also qualified for and received funds for the Employee Retention Credit program. The definition of this credit is as follows from the IRS website (https://www.irs.gov/coronavirus/employee-retention-credit)..."The Employee Retention Credit (ERC) - sometimes called the Employee Retention Tax Credit or ERTC - is a refundable tax credit for certain eligible businesses and tax-exempt organizations that had employees and were affected during the COVID-19 pandemic." MUMS received $27,203 for tax year 2020 and $63,112 for tax year 2021.