Kiddlynd

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Algoma University *

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4976P

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Accounting

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Apr 3, 2024

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Running Head: Kiddyland Case Study KIDDYLAND Memo/Executive Summary Student ID – 239416800 Name – Jashanpreet Singh Course name – Managing the not-for-profit Organisations(ADMN2017NE) Professor Name - K.Anwar Algoma University Managing Not-for-Profit Organization

Kiddyland Case Study 2 Memo DATE: 2024/03/16 TO: Jo Ann Larson FROM: Jashanpreet Singh SUBJECT: Solution to ensure the future viability of Kiddyland Introduction Kiddyland, a non-profit daycare in Market, Utah, is facing challenges such as safety issues, financial difficulties, and regulatory changes. Jo Ann Larson, the CEO, is considering closing the facility. Professor Pike, a consultant, is tasked with assessing budget sensitivity, providing pricing solutions, and determining a way to keep Kiddyland open and continue its valuable community service. Pike's advice is crucial in ensuring Kiddyland's survival and ensuring its continued success. Problems and Recommendations  Kiddyland has to be independent to run on a break-even basis since it does not get any financial assistance from the church.  A substantial investment or new construction is required since the existing two-story structure does not comply with fire safety regulations.  Decision-making and resource allocation may be impacted by a lack of formal accounting, which hinders financial management and planning.  Kiddyland has a major impact on the neighbourhood since it caters to families living below the poverty line.  Larson may not have the managerial capabilities to deal with intricate financial and operational issues. Recommendations  Secure Funding : Explore funding options, including United Fund or other donors.  Implement Accounting System : Establish formal accounting system for accurate financial tracking and decision-making.  Address Staffing Needs : Hire additional staff to meet regulatory requirements and ensure quality care.  Develop Management Skills : Provide training for Larson to develop management skills. Control and Feedback In order to maintain focus on how well actual spending is doing compared to budgeted amounts, organise frequent financial assessments. Conduct safety checks every three months and address any problems right away. Facilitate a team effort to resolve operational issues by setting up channels for staff and parents to provide feedback, including recommendations and complaints. Utilise performance reviews to pinpoint problem areas and provide continuous training for employees. Contingency Plan Leasing an in-accordance property or forming partnerships with nearby firms for in-kind assistance are additional options to consider if funds are inadequate for upgrades or new construction. Develop a backup plan to move the kids if the present school facility is found to be non-compliant. In case of unexpected events, make sure that children and workers are safe by establishing emergency protocols.

Kiddyland Case Study 3 1.0 Memo 2.0 Executive Summary Introduction Kiddyland, a non-profit child care centre in the middle of Market, Utah, is in a very important place. Jo Ann Larson is in charge of the building and has to deal with a lot of issues, such as an old building that fails to meet safety standards, limited funds, and rules that need to be followed. Professor Pike, who knows much about business, steps in to help them decide what to do. Kiddyland is mostly for low-income families, so if it closed, it would have an effect on the whole area. This case shows how important it is to have more money, better tools, and people who can help. The clear goal is to maintain Kiddyland open and provide needed child care while also improving the health and growth of the kids it helps. To do this, people need to work together and make plans. Problem The long-term viability and efficient community service of Kiddyland, a nonprofit creche in Market, Utah, are compromised by an array of critical challenges. A lack of proper accounting practices, an outdated building that does not adhere to safety regulations, a lack of qualified employees, and the possibility of new regulations all contribute to financial instability. A further significant issue is that there is not enough money to pay for repairs or new buildings. In order to address these intricate problems, manager Jo Ann Larson is missing essential leadership abilities. The main issue is to find a way to make sure Kiddyland can stay in business, improve its facilities, meet staffing needs, and help Larson overcome these challenges so it can continue to help low-income families in the community. Recommendations

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Kiddyland Case Study 4 Short Term  Conduct immediate action to resolve facility safety issues by securing emergency money from various sources, including the United Fund.  For better financial tracking and decision-making, set up a simple accounting system.  Accommodate regulatory requirements and guarantee enrolled children get high- quality care by hiring more workers.  Larson needs management training or assistance to handle urgent operational issues. Long Term  Conceive of a plan for long-term financing, which may include approaching local groups or applying for grants.  In order to satisfy safety regulations and allow future growth, it is necessary to plan and carry out modifications or build a new facility.  In order to better manage and prepare for finances, set up a thorough accounting system.  Maintaining efficient operations and high-quality treatment requires continuous investment in worker training and development. Action Plan  Immediate: Secure emergency funding to address safety concerns. Implement a basic accounting system.  Short Term: Hire additional staff and provide management training for Larson. Begin renovations or plan for new construction.  Mid-Term: Develop a sustainable funding strategy and comprehensive accounting system. Continue facility upgrades.

Kiddyland Case Study 5  Long Term: Complete facility renovations or construction. Strengthen financial stability through long-term funding sources. Maintain staff training and development initiatives to ensure continued high-quality care. Regularly review and adjust the action plan as needed to address evolving challenges and opportunities. Feedback and Contingency Plan Staff, parents, and community members should be able to regularly offer feedback on the efficiency and effectiveness of operations. Incorporate comments into decision-making and make changes as needed according to changing requirements. Establish procedures into effect to deal with unanticipated events such as changes in regulations, inadequate funds, or other similar problems. Finding other sources of finance, making provisions for temporary facilities, or developing emergency evacuation protocols may all be part of this process. To be prepared to handle any unexpected obstacles while maintaining operations running smoothly, it is important to evaluate and update backup plans regularly.

Kiddyland Case Study 6 References Komari, A., Indrasari, L. D., Tripariyanto, A. Y., & Rahayuningsih, S. (2020, July). Analysis of SWOT marketing strategies and 7P influence on purchasing decision. In Journal of Physics: Conference Series (Vol. 1569, No. 3, p. 032002). IOP Publishing. https://iopscience.iop.org/article/10.1088/1742-6596/1569/3/032002/pdf

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Kiddyland Case Study 7 Appendix 1.0 Swot Analysis Strengths Weaknesses 1. Low-cost rates compared to competitors, which brings in families with low incomes. 1. Financial management is hard because there is not an official accounting system in place. 2. Management professional who is dedicated and respects childcare. 2. The old building fails to meet safety standards, which puts kids and staff at risk. 3. Operating at full capacity because of high demand, which shows a strong community need. 3. Depending on outside funding sources and having limited cash means (Komari et al . 2020). 4. There is help from the local church and possibly from social groups. 4. Staffing deficiencies are affecting both the level of care and the ability to meet government standards. Opportunities Threats 1. Possibilities of getting money from charity groups or funds to improve the facilities. 1. Changes to the rules about daycare centres' licence requirements could make them unable to stay open. 2. Community funding and volunteer work could be used for repairs or new buildings. 2. They may lose students because of competition from other daycares that charge more and have better services. 3. There is an opportunity to grow and expand by making buildings and services better and drawing more families. 3. Families are unable to pay for babysitting services when the economy is bad, which means fewer kids

Kiddyland Case Study 8 are enrolled and less money is made. 4. Opportunity to improve management skills through training and help, which will make operations run more smoothly. 4. Possible emergencies or accidents because the current building is not safe enough, could lead to legal problems and damage to the company's image. Table 1: SWOT Analysis (Source: Self Developed) 2.0 Financial Data: Category 2000 Actual 2001 Actual 2022 Estimated Receipts $49,861 $60,916 $119,667 Expenses: Manager Salary $10,000 $10,000 $12,500 Other salaries and wages $19,608 $19,120 $66,750 Food $8,396 $10,164 $14,200 Utilities $3,908 $3,340 $4,200 Interest, current borrowings $413 $1,054 $600 Supplies $914 $1,828 Legal fees $70 $50 Repairs $248 $1,288 Insurance $1,008 $6,512 $800 Miscellaneous $2,724 $7,460 $8,000 Depreciation $1,108 $826 Loan payment $13,783 Total expenses $48,397 $61,642 $120,833 Income (loss) $1,464 ($726) ($1,166)