Better Business Bureau Report for
Keystone Learning Academy

Better Business Bureau Report issued December 2015
Better Business Bureau Report expires December 2016


This BBB Accredited charity meets all 20 Standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Keystone Learning Academy
Address: 1705 S. 13th Street
  Louisville, KY 40210-2325
Phone: 502-637-3671
Web Address: www.keystonelearningacademy.org
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Better Business Bureau Comments

Formerly known as:California Area Family Development Center

Year, State Incorporated: 1974, Kentucky
Affiliates: None
Stated Purpose: Keystone Learning Academy's mission is to enrich the lives of children and their families with educational, emotional and physical development tools.

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Evaluation Conclusions

              

Keystone Learning Academy meets the 20 Standards for Charity Accountability.
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Programs

              

The Keystone Learning Academy provides engaging child care and early childhood education to over 100 underprivileged children ages 6 weeks - 11 years. KLA offers before and after school programs and a complete summer program for school age children. Additionally, KLA offers supplemental programming to help parents develop the tools they need to build and strengthen their family unit. KLA serves children and their families with integrity and the promise of a safe environment.

For the fiscal year ended June 30, 2015, Keystone Learning Academy's program expenses were:

  
Program Services 664,049
Total Program Expenses: $664,049
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Governance

              

Chief Executive : Sharon Hemingway, Executive Director
Compensation*: 
$40,000

Chair of the Board: Michelle Wyrick
Chair's Profession / Business Affiliation: Attorney

Board Size: 15

Paid Staff Size: 19

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

              

Method(s) Used:

Keystone Learning Academy receives a substantial amount of its support from federal and state government grants and contracts. Three primary sources of revenue are the Kentucky Department of Education, the Kentucky Child Care Assistance Program, and Metro United Way.

As indicated above, KLA is a Metro United Way member agency.

Fund raising costs were % of related contributions. (Related contributions, which totaled $725,665, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on Keystone Learning Academy's draft audited financial statements for the fiscal year ended June 30, 2015.

Ending net assets are reported below include $17,093 in unrestricted net assets and $182,097 in temporarily restricted net assets.


Source of Funds  
Contributions and grants 582,990
United Way Funding 142,675
Program Fees 58,616
Other 239
Interest Income 53
Total Income $784,573


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Uses of Funds as a % of Total Expenses

Programs: 87%    Administrative: 13% 

Total income $784,573
Program expenses $664,049
Fund raising expenses
Administrative expenses 97,347
Total expenses $761,396
Income in Excess of Expenses 23,177
Beginning net assets 176,013
Ending net assets 199,190
Total liabilities 68,106
Total assets $267,296

This BBB report was originally issued in December 2015 and was amended in May 2016 to show compliance will all BBB standards.

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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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