LAKER PREP EARLY CHILDHOOD

EIN: 854249341 501(c)(3) Human Services

DETROIT LAKES, MN

Total Revenue
$1,355,365
Total Expenses
$1,347,199
Total Assets
$240,941
Net Assets
$28,692
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Financial Trends

Organization Details

Formation Year
2022
Legal Domicile
MN
Principal Officer
ERIC ROTTER
Phone
2188443220
Tax Period
2023-01-01 to 2023-12-31

LAKER PREP EARLY CHILDHOOD, founded in 2022, is a community nonprofit in the Human Services sector that reported $1.4M in total revenue in fiscal year 2023.

Mission

DEDICATED TO THE CARE AND DEVELOPMENT OF CHILDREN 8 WEEKS TO 6 YEARS OLD. NURTURE AND INDIVIDUALIZE EARLY CHILDHOOD CARE AND LEARNING TO ACCOMODATE BOTH CHILD AND FAMILY NEEDS.

Program Service Accomplishments

Program 1
Expenses: $1,190,240 Revenue: $1,091,216

LAKER PREP IS BECKER COUNTY'S LARGEST NON-PROFIT BASED CHILDCARE ORGANIZATION ADVOCATING FOR AND SERVING FAMILIES WITH HIGH QUALITY PROGRAMMING FOR CHILDREN AGES BIRTH TO FIVE. DEVELOPED TO FILL A...

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LAKER PREP IS BECKER COUNTY'S LARGEST NON-PROFIT BASED CHILDCARE ORGANIZATION ADVOCATING FOR AND SERVING FAMILIES WITH HIGH QUALITY PROGRAMMING FOR CHILDREN AGES BIRTH TO FIVE. DEVELOPED TO FILL A GAP IN YEAR-ROUND, ALL-DAY CARE, LAKER PREP STARTED IN 2011 SERVING 10 FAMILIES AND QUICKLY EXPANDED TO ITS CURRENT LEVEL OF 90 FAMILIES. FOCUSED ON SERVING THE HEART OF ITS COMMUNITY, LAKER PREP EMBRACES DIVERSE ACCESS TO ITS WIDE RANGE OF SERVICES. CURRENTLY, 27% OF CHILDREN AT LAKER PREP RECEIVE SUBSIDIES, AND 25% OF ENROLLED CHILDREN IDENTIFY AS NON-WHITE. FAMILIES CURRENTLY SERVED ARE IN MANUFACTURING, EDUCATION, TRADES, RETAIL, TOURISM, GOVERNMENT, MEDICAL AND HUMAN SERVICES FIELDS. STANDING FIRM IN THE BELIEF THAT "BIG SUCCESS STARTS SMALL," LAKER PREP STAFF AND LEADERSHIP ARE DEVOTED TO PROVIDING MULTIPLE AVENUES TO THE QUALITY PROGRAMMING THAT REARS THE NEXT GENERATION OF KIND, SUCCESSFUL, AND THOUGHTFUL COMMUNITY LEADERS. PARTNERSHIPS WITH EXTERNAL SERVICE PROVIDERS ENSURE THAT CHILDREN WITH ALL LEVELS OF NEED WORK TOWARDS DEVELOPMENTAL MILESTONES AND MOVE INTO KINDERGARTEN WITH THE SKILLS NECESSARY TO BE SUCCESSFUL. TAKING A COMPREHENSIVE VIEW OF GROWING AND STABILIZING THE CHILDCARE INDUSTRY, LAKER PREP FOCUSES ON CHILDCARE ADVOCACY AND REFORM, ENGAGING IN REGIONAL AND STATEWIDE FORUMS, TASK FORCES, AND INITIATIVES. LAKER PREP DIRECTORS ARE ALSO COMMITTED TO MENTORING AND DEVELOPING THE NEXT COHORT OF CHILDCARE PRACTITIONERS. THEY PARTNER WITH THE LOCAL HIGH SCHOOL IN CREATING OPPORTUNITIES FOR STUDENTS TO EARN A CHILD DEVELOPMENT ASSOCIATE AND CURRENT LAKER PREP STAFF ARE SUPPORTED AND INCENTIVISED TO SEEK ADDITIONAL QUALIFICATIONS AND CERTIFICATIONS. INTEGRATING ITSELF IN THE NETWORK OF FAMILY FOCUSED COMMUNITY ORGANIZATIONS, LAKER PREP SUPPORTS AND PROVIDES COMMUNITY ACTIVITIES, EVENTS, AND RESOURCES TO THE AREA AS A WHOLE. AS SUPPORT FOR THE ORGANIZATION INCREASES, SO TOO WILL THE OFFERINGS FOR FAMILIES AROUND THE REGION. BIG SUCCESS FOR LAKER PREP MEANS BIG SUCCESS FOR THE COMMUNITY, AND IT ALL STARTS SMALL, WITH SUPPORT FROM FUNDERS, COMMUNITY MEMBERS, AND ALL THOSE WILLING TO INVEST IN THE FUTURE.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $263,976
Program Service Revenue $1,091,216
Investment Income $0
Other Revenue $173
TOTAL REVENUE $1,355,365

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,001,734
Fundraising Expenses $5,080
Program Expenses $1,190,240
Other Expenses $345,465
TOTAL EXPENSES $1,347,199

Year-over-Year Comparison

2023 2022 Change
Revenue $1,355,365 N/A N/A
Expenses $1,347,199 N/A N/A
Net Income $8,166 N/A N/A
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
7
Independent Members
6
Employees
53
Volunteers
N/A

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
5
$94,742
Total Directors
6
$44,557
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARY ROTTER PROGRAM DIRE 40.00
Officer
$50,185 $0 $50,185
ERIC ROTTER ASST DIR/BOA 40.00
Officer Director
$44,557 $0 $44,557
PETER JACOBSEN CHAIR 1.00
Officer Director
$0 $0 $0
JOSH HOCHGRABBER VICE CHAIR 1.00
Officer Director
$0 $0 $0
AMANDA HANSON TREAS/SECR 1.00
Officer Director
$0 $0 $0
ALISSA HOBAN BOARD MEMBER 1.00
Director
$0 $0 $0
JESSICA JOHNSON BOARD MEMBER 1.00
Director
$0 $0 $0
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 No data No data No data No data
2023 $1,355,365 $1,347,199 $240,941 $8,166
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