Liabilities / Assets
93rd percentile
Higher debt load relative to assets than 93% of similar nonprofits.
Brighter Choice Foundation Inc.
990 • Fiscal year 2011 • EIN 14-1825626
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
1.02x
Liabilities / Revenue
Score unavailable
Liabilities-to-revenue requires both liabilities and revenue on this filing.
Net Margin
Score unavailable
Net margin requires both revenue and expenses on this filing.
Top Officer Pay
Score unavailable
This filing does not contain officer compensation rows.
Asset Growth
80th percentile
Faster asset growth than 80% of similar nonprofits.
Revenue Growth
Score unavailable
No valid filing value is available for this score.
Balance Sheet
Assets
Up$62,010,041
Up $7,289,780 (+13%) from 2010
Net Assets
Down-$1,397,311
Down $877,464 (-169%) from 2010
Liabilities
Up$63,407,352
Up $8,167,244 (+15%) from 2010
Revenue And Expenses
Revenue
-
No earlier filing loaded for comparison.
Expenses
Down$5,474,363
Down $240,646 (-4.2%) from 2010
Net Income
-
No earlier filing loaded for comparison.
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2011 to Dec 31, 2011
- Signed
- Nov 14, 2013
- Return Version
- 2011v1.2
- Gross Receipts
- $4,764,471
Mission and Program Overview
Mission
The mission of the brighter choice foundation is to provide start-up grants, school facilities, a revolving loan fund, and operational and academic support to public charter schools in the city of albany.
Major Activities
- Activity 2
- The Brighter Choice Foundation (Foundation) was founded to help launch and ensure the success of public charter schools in the City of Albany. The Foundation's tagline Building a Brighter Future - One School at a Time -- clearly indicates what it originally set out to accomplish. In achieving its purpose, the Foundation provided start-up grants, a revolving loan fund and technical assistance to the Albany Charter School Network (Albany Network.) Further, to drive school quality, the Foundation drew upon expertise from existing top urban schools in the United States of American and worked with its school leaders to ensure key elements of success were incorporated into each member school's academic model. Examples of these best practices include: small school settings, longer school days and schools years, and behavioral structure. Currently, the Albany Network consists of eleven charter schools -- four elementary, five middle, and two high schools - and serves approximately 3,000 students .This represents approximately 25% of Albany's public school population. The Foundation played a crucial role in advocating for the charter school movement in the City of Albany by achieving sustainable, high quality academic performance, ensuring operational and financial durability, and affecting a positive legislative environment.
- Activity 3
- The Foundation also operates scholarship initiatives to help enable children from economically disadvantaged families to attend private schools. These activities are funded primarily through contributions from foundations and individuals.
Filing and Contact Details
Filer
- EIN
- 14-1825626
Raw XML AppendixShowing 400 of 751 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/AccountsReceivable/EOY | 0 | 602219 |
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| IRS990/Activity2/Description | 0 | The Brighter Choice Foundation (Foundation) was founded to help launch and ensure the success of public charter schools in the City of Albany. The Foundation's tagline Building a Brighter Future - One School at a Time -- clearly indicates what it originally set out to accomplish. In achieving its purpose, the Foundation provided start-up grants, a revolving loan fund and technical assistance to the Albany Charter School Network (Albany Network.) Further, to drive school quality, the Foundation drew upon expertise from existing top urban schools in the United States of American and worked with its school leaders to ensure key elements of success were incorporated into each member school's academic model. Examples of these best practices include: small school settings, longer school days and schools years, and behavioral structure. Currently, the Albany Network consists of eleven charter schools -- four elementary, five middle, and two high schools - and serves approximately 3,000 students .This represents approximately 25% of Albany's public school population. The Foundation played a crucial role in advocating for the charter school movement in the City of Albany by achieving sustainable, high quality academic performance, ensuring operational and financial durability, and affecting a positive legislative environment. |
| IRS990/Activity2/Expense | 0 | 1834135 |
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| IRS990/Activity3/Description | 0 | The Foundation also operates scholarship initiatives to help enable children from economically disadvantaged families to attend private schools. These activities are funded primarily through contributions from foundations and individuals. |
| IRS990/Activity3/Expense | 0 | 95128 |
| IRS990/Activity3/Grants | 0 | 95128 |
| IRS990/Activity3/Revenue | 0 | 0 |
| IRS990/ActivityOrMissionDescription | 0 | The Brighter Choice Foundation was formed for scientific, educational and charitable purposes. The Foundation's mission is to provide start-up grants, school facilities, a revolving loan fund, and technical assistance to public charter schools in the City of Albany. |
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| IRS990/Description | 0 | The Brighter Choice Foundation (Foundation) was established to provide support services and resources to the then-newly developing charter schools in the Albany, NY market. In this partner-support role, the Foundation obtained the financing necessary for the development and construction of the various school facilities. These financing arrangements were based on design preferences of the school as described in collaborative conversations with community stakeholders and school personnel. The Foundation carried the loan(s) through maturity at which time the Foundation worked to transfer ownership back to the schools after they had secured their own financing (at the cost to develop the property.) These leasing arrangements were intentional and necessary given the poor state of the economy, the unforgiving capital markets, and limited borrowing opportunities offered to the charter schools during their start-up phase. As is the case with most not-profit organizations, charter schools are rarely in a position to borrow significant money in order to purchase facilities. Thus, by design, these lease payments were established to assist the schools during their start-up phase and only required the schools to pay back the minimum debt service requirements - typically interest only or minimal principal reductions. This equates to the same debt the schools would have been required to cover if they had been able to secure their own financing with favorable terms. |
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| IRS990/OtherExpenses/Description | 0 | Charter School Support |
| IRS990/OtherExpenses/Description | 1 | Asset management fee |
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| IRS990/PensionPlanContributions/ProgramServices | 0 | 0 |
| IRS990/PensionPlanContributions/Total | 0 | 0 |
| IRS990/PermanentlyRestrictedNetAssets/BOY | 0 | 0 |
| IRS990/PermanentlyRestrictedNetAssets/EOY | 0 | 0 |
| IRS990/PledgesAndGrantsReceivable/BOY | 0 | 550000 |
| IRS990/PledgesAndGrantsReceivable/EOY | 0 | 200000 |
| IRS990/PoliticalActivities | 0 | 0 |
| IRS990/PremiumsPaid | 0 | 0 |
| IRS990/PrepaidExpensesDeferredCharges/BOY | 0 | 0 |
| IRS990/PrepaidExpensesDeferredCharges/EOY | 0 | 3710 |
| IRS990/PriorExcessBenefitTransaction | 0 | 0 |
| IRS990/ProfessionalFundraising | 0 | 0 |
| IRS990/ProgramServiceRevenue/BusinessCode | 0 | 900099 |
| IRS990/ProgramServiceRevenue/BusinessCode | 1 | 900099 |
| IRS990/ProgramServiceRevenueCY | 0 | 3656327 |
| IRS990/ProgramServiceRevenue/Description | 0 | Charter school facilities income |
| IRS990/ProgramServiceRevenue/Description | 1 | Network fees |
| IRS990/ProgramServiceRevenue/ExclusionAmount | 0 | 0 |
| IRS990/ProgramServiceRevenue/ExclusionAmount | 1 | 0 |
| IRS990/ProgramServiceRevenuePriorYear | 0 | 2758696 |
| IRS990/ProgramServiceRevenue/RelatedOrExemptFunctionIncome | 0 | 3548420 |
| IRS990/ProgramServiceRevenue/RelatedOrExemptFunctionIncome | 1 | 107907 |
| IRS990/ProgramServiceRevenue/TotalRevenueColumn | 0 | 3548420 |
| IRS990/ProgramServiceRevenue/TotalRevenueColumn | 1 | 107907 |
| IRS990/ProgramServiceRevenue/UnrelatedBusinessRevenue | 0 | 0 |
| IRS990/ProgramServiceRevenue/UnrelatedBusinessRevenue | 1 | 0 |
| IRS990/ProhibitedTaxShelterTrans | 0 | 0 |
| IRS990/QuidProQuoContributions | 0 | 0 |
| IRS990/ReceivablesFromDisqualPersons/BOY | 0 | 0 |
| IRS990/ReceivablesFromDisqualPersons/EOY | 0 | 0 |
| IRS990/ReceivablesFromOfficersEtc/BOY | 0 | 0 |
| IRS990/ReceivablesFromOfficersEtc/EOY | 0 | 0 |
| IRS990/ReconcilationOtherChanges | 0 | -167572 |
| IRS990/ReconcilationRevenueExpenses | 0 | -709892 |
| IRS990/RegularMonitoringEnforcement | 0 | 1 |
| IRS990/RelatedEntity | 0 | 1 |
| IRS990/RelatedOrganizations | 0 | 0 |
| IRS990/RelatedOrgControlledEntity | 0 | 0 |
| IRS990/RentalIncomeOrLoss/Personal | 0 | 0 |
| IRS990/RentalIncomeOrLoss/Real | 0 | 0 |
| IRS990/ReportFin48Footnote | 0 | 1 |
| IRS990/ReportInvestOthSecurities | 0 | 0 |
| IRS990/ReportLandBldgEquip | 0 | 1 |
| IRS990/ReportOtherAssets | 0 | 1 |
| IRS990/ReportOtherLiabilities | 0 | 1 |
| IRS990/ReportProgRelInvest | 0 | 0 |
| IRS990/Revenue | 0 | 3548420 |
| IRS990/RevenuesLessExpensesCY | 0 | -709892 |
| IRS990/RevenuesLessExpensesPriorYear | 0 | -872020 |
| IRS990/Royalties/Fundraising | 0 | 0 |
| IRS990/Royalties/ManagementAndGeneral | 0 | 0 |
| IRS990/Royalties/ProgramServices | 0 | 0 |
| IRS990/RoyaltiesRevenue/ExclusionAmount | 0 | 0 |
| IRS990/RoyaltiesRevenue/RelatedOrExemptFunctionIncome | 0 | 0 |
| IRS990/RoyaltiesRevenue/TotalRevenueColumn | 0 | 0 |
| IRS990/RoyaltiesRevenue/UnrelatedBusinessRevenue | 0 | 0 |
| IRS990/Royalties/Total | 0 | 0 |
| IRS990/SalariesEtcCurrentYear | 0 | 963997 |
| IRS990/SalariesEtcPriorYear | 0 | 923475 |
| IRS990/SavingsAndTempCashInvestments/BOY | 0 | 722045 |
| IRS990/SavingsAndTempCashInvestments/EOY | 0 | 694701 |
| IRS990ScheduleA/AmountsSubstContributorsTotal | 0 | 8063600 |
| IRS990ScheduleA/FactsAndCircumstancesTest | 0 | The Brighter Choice Foundation meets the "facts and circumstances" test indicating that it is a publically supported organization as follows: The Foundation receives a substantial part of its support from direct contributions and the Foundation's public support percentage has consistently been in excess of 20%. The Foundation continues to engage and work with donors in order to attract further public support. In the past, the Foundation has somewhat limited its solicitation to organizations and persons who would be most likely to support public education reform causes and the charter school movement. As the network of charter schools has matured in Albany, the Foundation realizes the necessity to continue to solicit a broader base of donors and is taking steps to further build on its development program. One of the largest functions of the Foundation is to develop charter schools facilities in the City of Albany. These are public schools in the city with approximately 3,000 students, or approximately 25% of the public school students in Albany of which over 95% of the students enrolled in the schools qualify for free or reduced lunch programs. The facilities offer and are open for a number of programs beyond the typical K-12 education, including summer and sports program offered to the youth in Albany. Since the charter schools which are supported are public schools, the Directors of the Foundation represent the broad interests of the public. Directors are selected on a number of factors, including expertise related to charter school management, expertise in facility related matters, and other expertise related to general business management, human resource management and development activities. |
Document Assets
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Filings
Displayed year
2011 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
- Assets
- $62,010,041
- Liabilities
- $63,407,352
- Net assets
- -$1,397,311
- Revenue
- -
- Expenses
- $5,474,363
- Net income
- -