Rosemont KenCrest Child Development Center offers a discounted rate to eligible full-time permanent faculty and staff of Villanova University for child care services. Services are available for children from 6 weeks of age through five years of age. Employees will be eligible for this benefit on the first day of the month following their date of hire.
The discount is $1,000 annually for one child per family (pro-rated monthly and based on eligibility and part-time usage) and registration fees are waived. Additional children may also be enrolled with a waiver of registration fees and KenCrest’s standard discounts for multiple children would apply. Those discounts provide a 10% reduction off of the standard rate for the 2nd child and 15% off for 3 or more children. This benefit does not guarantee enrollment, which is on a first come, first served basis for child care services.
In accordance with IRS regulations, this benefit is taxable compensation. At the end of each calendar year, an adjustment is made through the payroll system to withhold the taxes as required on the value of the discount based on usage. For example, if a child of an eligible employee was enrolled full-time all year round, the value would be $1,000 and that amount would be subject to taxation. If a child was enrolled for one-half of the year providing a $500 discount, only that amount would be subject to taxation.
For further information concerning the KenCrest Child Development Center, please contact:
Rosemont Child Development Center
1242 Montrose Avenue
Rosemont, PA 19010
Telephone: (610) 525-4771
This is intended as a summary only and, if a dispute should arise, the legal plan document and contract will always govern. Villanova University plans to continue this benefit plan but reserves the right to terminate, suspend, withdraw, amend or modify any benefit plan at any time. All child care services shall be arranged directly with KenCrest, an independent company with no affiliation to Villanova. Villanova makes no representations or warranties about such child care services provided by KenCrest.