Better Business Bureau Report for
Keystone Learning Academy

Better Business Bureau Report issued May 2014
Better Business Bureau Report expires May 2015


Does not meet one or more standards
This charity does not meet one or more of the 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:
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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 does not meet the following 4 Standards for Charity Accountability.

Standard 7: Board Approval of Written Report on Effectiveness - Submit to the organization's governing body, for its approval, a written report that outlines the results of the aforementioned performance and effectiveness assessment and recommendations for future actions.

The agency states that it did not produce a written report outlining the results of its most recent effectiveness assessment.

Standard 11: Financial Statements - Make available to all, on request, complete annual financial statements prepared in accordance with generally accepted accounting principles. When total annual gross income exceeds $500,000, these statements should be audited in accordance with generally accepted auditing standards. For charities whose annual gross income is less than $500,000, a review by a certified public accountant is sufficient to meet this standard. For charities whose annual gross income is less than $250,000, an internally produced, complete financial statement is sufficient to meet this standard.

Agency states that while an audit is in process the agency does not have audited financial statements available at this time.

Standard 14: Budget - Have a board-approved annual budget for its current fiscal year, outlining projected expenses for major program activities, fund raising, and administration.

The current year budget did not include a breakdown of projected expenses into program, administrative, or fund raising cost categories.

Standard 16: Annual Report - Have an annual report available to all, on request, that includes: (a) the organization's mission statement, (b) a summary of the past year's program service accomplishments, (c) a roster of the officers and members of the board of directors, (d) financial information that includes (i) total income in the past fiscal year, (ii) expenses in the same program, fund raising and administrative categories as in the financial statements, and (iii) ending net assets.

Annual report did not include a roster of members and officers of the board or the financial detail that is required by BBB standards.

In addition, the Louisville BBB did not receive complete information on the organization’s finances and is unable to verify the organization's compliance with the following Standards for Charity Accountability: 8, 9, and 12.
Keystone Learning Academy meets the remaining 13 Standards for Charity Accountability.
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Programs

              

The Keystone Learning Academy provides quality and 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, 2013, Keystone Learning Academy's program expenses were:

  
Total Program Expenses: $
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Governance

              

Chief Executive : Sharon Hemingway, Executive Director
Compensation*: 

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

Board Size: 14

Paid Staff Size: 22

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Fund Raising

              

Method(s) Used:

Methods of fund raising include invitations to fund raising events, print advertisements, grant proposals, and internet appeals.

In addition, the Keystone Learning Academy is a Metro United Way member agency.

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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 unaudited financial statements for the fiscal year ended June 30, 2013.

Source of Funds  
Child Care Assistance Program 573,664
Metro United Way 138,051
Parent Fees 113,797
Child Care Food Program 111,995
Star Incentives 16,500
EE Health Care Contribution 14,925
NCJW 14,000
Foster Care 10,944
Donations 10,295
Adoptive Care 4,245
Investment Income 79
Total Income $1,008,495


chart



Uses of Funds as a % of Total Expenses

     

Total income $1,008,495
Program expenses $0
Fund raising expenses 0
Administrative expenses 0
Total expenses $1,044,458
Expenses in Excess of Income (35,963)
Beginning net assets 15,211
Ending net assets (20,752)
Total liabilities 104,384
Total assets $83,632


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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.

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