We helped Davenport Preschool Launch

Client Profile

Davenport Preschool is a childcare center based in Towson, Maryland, that structures their program around nurturing and teaching each child as an individual.

Challenge

During the initial phases, the founder of the preschool, Liz Harlan, reached out to Naden/Lean for professional accounting assistance with starting a business. She had researched other competitors but found their fees were too high. One of our trusted CPAS, Bruce Caulk, took on the project and worked with Harlan at a lower rate since the start-up capital was low. Bruce completed the business plan, financial reports, and submitted the business’ loan application. Trusting Naden/Lean to handle such crucial aspects of her business development allowed Harlan to focus on developing the preschool’s curriculum. With the business having a June end-of-year closing, a Fiscal Year S-corporation Election form was required to be submitted to the IRS. Bruce advised and supported Harlan throughout the detailed process and successfully met the strict IRS guidelines.

Resolution

Davenport Preschool was launched successfully and continues to do well with the support of N/L as their financial advisors. As ongoing clients, N/L has also supported Davenport Preschool with internal accounting setup, detailed accounting review every six months, and annual personal and corporate tax preparation. N/L has also assisted with the development of an investment plan to help the business save money, so they can eventually purchase the leased building that houses the preschool.