Bright Beginnings Academy Inc

EIN: 820603463 501(c)(3) Human Services

Elizabeth City, NC

Total Revenue
$1,631,904
Total Expenses
$1,601,922
Total Assets
$538,143
Net Assets
$409,993
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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
2017
Legal Domicile
NC
Principal Officer
Michelle Gregory
Phone
2526195090
Tax Period
2024-01-01 to 2024-12-31

Bright Beginnings Academy Inc, founded in 2017, is a community nonprofit in the Human Services sector that reported $1.6M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

To provide services for low-income families and one parent households who have preschool children in need of quality child care services.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $239,481
Program Service Revenue $1,342,576
Investment Income $49,847
Other Revenue $0
TOTAL REVENUE $1,631,904

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,029,202
Fundraising Expenses $0
Program Expenses $1,339,004
Other Expenses $572,720
TOTAL EXPENSES $1,601,922

Year-over-Year Comparison

2024 2023 Change
Revenue $1,631,904 $1,492,631 +0.1%
Expenses $1,601,922 $1,488,128 +0.1%
Net Income $29,982 $4,503 +5.7%
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

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Governance

Voting Members
4
Independent Members
3
Employees
45
Volunteers
2

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
3
$221,057
Total Directors
0
$0
Key Employees
2
$221,057
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Michele Gregory President 40.00
Officer Key Emp Highest
$188,600 $0 $188,600
Tangie Bond Chair person 6.00
Officer
$0 $0 $0
Deborah J Billups Sec/Treasurer 40.00
Officer Key Emp
$32,457 $0 $32,457
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
2024 $1,631,904 $1,601,922 $538,143 $29,982
2023 $1,492,631 $1,488,128 $697,357 $4,503
2022 $1,810,578 $1,827,085 $722,647 $-16,507
2021 $1,520,311 $1,462,667 $912,170 $57,644
2020 $1,408,386 $1,271,586 $835,106 $136,800
2019 $907,418 $846,937 $405,511 $60,481
2018 $667,377 $634,881 $388,110 $32,496
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