Civic Intelligence

Brighter Choice Foundation Inc.

990 • Fiscal year 2015 • EIN 14-1825626

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 02, 2016

Organization ProfileALBANYNETWORK.ORG
175 Central Avenue 5th FloorAlbany, NY 12206

(518) 694-4500

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

100th percentile

0.99x

Higher debt load relative to assets than 100% of similar nonprofits.

2015 filings • NTEE T • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

99th percentile

7.95x

Higher debt load relative to revenue than 99% of similar nonprofits.

2015 filings • NTEE T • $25M-$50M nonprofits • Source year 2015

Net Margin

16th percentile

-50%

Higher net margin than 16% of similar nonprofits.

2015 filings • NTEE T • $25M-$50M nonprofits • Source year 2015

Top Officer Pay

17th percentile

$131,462

Higher top officer pay than 17% of similar nonprofits.

Top officer pay equals 4.0% of source-year revenue.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Asset Growth

2nd percentile

-27%

Faster asset growth than 2% of similar nonprofits.

2015 filings • NTEE T • $25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

42nd percentile

-13%

Faster revenue growth than 42% of similar nonprofits.

2015 filings • NTEE T • $25M-$50M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets100th percentile

Assets

Down

$26,179,228

Down $9,452,843 (-27%) from 2014

Net Assets

Up

$175,108

Up $1,923,094 (+110%) from 2014

Liabilities

Down

$26,004,120

Down $11,375,937 (-30%) from 2014

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin16th percentile

Revenue

Down

$3,269,423

Down $495,613 (-13%) from 2014

Expenses

Down

$4,913,685

Down $412,395 (-7.7%) from 2014

Net Income

Down

-$1,644,262

Down $83,218 (-5.3%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80M$60M$40M$20M$0-$20MAssets 2010: $54,720,261Liabilities 2010: $55,240,108Net Assets 2010: -$519,8472010Assets 2011: $62,010,041Liabilities 2011: $63,407,352Net Assets 2011: -$1,397,3112011Assets 2012: $42,446,335Liabilities 2012: $43,219,618Net Assets 2012: -$773,2832012Assets 2013: $37,142,067Liabilities 2013: $37,329,009Net Assets 2013: -$186,9422013Assets 2014: $35,632,071Liabilities 2014: $37,380,057Net Assets 2014: -$1,747,9862014Assets 2015: $26,179,228Liabilities 2015: $26,004,120Net Assets 2015: $175,1082015Assets 2016: $19,301,651Liabilities 2016: $19,644,352Net Assets 2016: -$342,7012016Assets 2017: $10,398,626Liabilities 2017: $10,117,370Net Assets 2017: $281,2562017Assets 2018: $10,223,673Liabilities 2018: $10,032,005Net Assets 2018: $191,6682018Assets 2019: $1,302,583Liabilities 2019: $8,207Net Assets 2019: $1,294,3762019Assets 2020: $1,071,936Liabilities 2020: $34,400Net Assets 2020: $1,037,5362020Assets 2021: $941,279Liabilities 2021: $34,400Net Assets 2021: $906,8792021Assets 2022: $644,537Liabilities 2022: $0Net Assets 2022: $644,5372022Assets 2023: $592,535Liabilities 2023: $900Net Assets 2023: $591,6352023Assets 2024: $547,556Liabilities 2024: $0Net Assets 2024: $547,5562024

Highlighted filing

2015

Assets$26,179,228
Liabilities$26,004,120
Net Assets$175,108
Open 2015 Filing

Operations Trend

Revenue Growth42nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MExpenses 2010: $5,715,0092010Expenses 2011: $5,474,3632011Revenue 2012: $6,574,432Expenses 2012: $5,950,404Net Income 2012: $624,0282012Revenue 2013: $6,154,177Expenses 2013: $5,079,352Net Income 2013: $1,074,8252013Revenue 2014: $3,765,036Expenses 2014: $5,326,080Net Income 2014: -$1,561,0442014Revenue 2015: $3,269,423Expenses 2015: $4,913,685Net Income 2015: -$1,644,2622015Revenue 2016: $1,997,242Expenses 2016: $2,515,051Net Income 2016: -$517,8092016Revenue 2017: $2,101,532Expenses 2017: $1,937,031Net Income 2017: $164,5012017Revenue 2018: $819,721Expenses 2018: $909,309Net Income 2018: -$89,5882018Revenue 2019: $1,785,505Expenses 2019: $682,797Net Income 2019: $1,102,7082019Revenue 2020: $4,054Expenses 2020: $260,894Net Income 2020: -$256,8402020Revenue 2021: $100,000Expenses 2021: $230,986Net Income 2021: -$130,9862021Revenue 2022: $108,316Expenses 2022: $330,056Net Income 2022: -$221,7402022Revenue 2023: $125,969Expenses 2023: $178,871Net Income 2023: -$52,9022023Revenue 2024: $104,177Expenses 2024: $148,256Net Income 2024: -$44,0792024

Highlighted filing

2015

Revenue$3,269,423
Expenses$4,913,685
Net Income-$1,644,262
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 2, 2016
Return Version
2015v2.1
Gross Receipts
$10,001,049
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$32,001,555$17,042,902▼ $14,958,653
Inventories for Sale or Use-$6,250,000-
Cash and Non-Interest-Bearing Accounts$1,945,467$2,006,497▲ $61,030
Accounts Receivable$787,795$596,269▼ $191,526
Savings and Temporary Cash Investments$455,988--
Prepaid Expenses and Deferred Charges$87,232$31,998▼ $55,234
Total Assets$35,632,071$26,179,228▼ $9,452,843
Other Assets Total$354,034$251,562▼ $102,472
Liabilities
Mortgage Notes Payable Secured by Investment Property$26,070,321$15,745,005▼ $10,325,316
Unsecured Notes Loans Payable$10,750,000$10,000,000▼ $750,000
Deferred Revenue$226,042$131,441▼ $94,601
Accounts Payable and Accrued Expenses$333,694$127,674▼ $206,020
Total Liabilities$37,380,057$26,004,120▼ $11,375,937
Net Assets / Fund Balance
Unrestricted Net Assets$-1,749,236$174,858▲ $1,924,094
Temporarily Rstr Net Assets$1,250$250▼ $1,000
Total Net Assets Fund Balance$-1,747,986$175,108▲ $1,923,094
Total Liabilities and Net Assets / Fund Balance$35,632,071$26,179,228▼ $9,452,843

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$14,342,440$1,899,120$16,241,560
Land$2,664,968-$2,664,968
Equipment$33,522$148,892$182,414
Leasehold Improvements$1,972$1,409$3,381
Compensation and Service Providers
Top Officer Pay17th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mubuso ZamchiyaChief Executive Officer (former)FT$124,640$6,822$131,462
David JenkinsChief Operating OfficerFT$109,969$6,743$116,712
Katie OwensChief Financial OfficerFT$87,874$15,269$103,143
George WilhelmChief Financial Officer (former)FT$73,371$745$74,116
Anne Kiernan LewisActing Executive Director / MemberPT$66,077-$66,077

Board Members and Trustees

NameTitle
Michael StrianeseChairman and Treasurer
Paul FaheyMember
SARI O'CONNORMember
Brian BackstromSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$114,000
Program Service Revenue
$2,505,371
Investment Income
$650,052
Other Revenue
$0
All Other Contributions
$114,000
Change in Net Assets
$-1,644,262

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,269,423
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$5,082,036
Total Revenue per Audited Statements
$8,351,459
Total Revenue per Form 990
$3,269,423
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,867,242
Salaries, Compensation, and Employee Benefits$1,034,443
Total Fundraising Expense$103,152
Grants and Similar Amounts Paid$12,000
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$1,219,088$8,125-$1,227,213
Depreciation Depletion$696,307$6,168-$702,475
Current Officers, Directors, Trustees, and Key Employees$351,729$93,881$45,900$491,510
Comp Disqual Persons$293,913$78,449$38,356$410,718
Fees for Services Management$216,907$150,028-$366,935
Occupancy$73,204$54,878$6,550$134,632
Fees for Services Other$29,223$43,834-$73,057
Payroll Taxes$48,772$13,018$6,364$68,154
Other Employee Benefits$45,843$12,236$5,982$64,061
Other Expenses$77,344$48,470-$48,470
Grants to Domestic Individuals$12,000--$12,000
Total Functional Expenses$4,218,222$592,311$103,152$4,913,685

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,428,365
Expenses per Audited Statements$4,913,685
Total Expenses per Form 990$4,913,685
Expenses Not Reported on Form 990$1,514,680
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Anne Kiernan LewisBoard Member and Acting Executive DirectorCompensationNo$66,077
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“The 990 is prepared by the independent auditors. The final draft is reviewed by senior management and the treasurer. Upon completion of this review, the final draft is sent to the board prior to a board meeting, and then presented and discussed at the board meeting.”

Form 990, Part VI, Section B, Line 12C

“Annual conflict of interest forms are distributed to all board members as well as senior management. Upon completion, they are forwarded to the secretary of the board and the treasurer / chair of the audit committee.”

Form 990, Part VI, Section B, Line 15

“The compensation of the organization's executive director is determined by the compensation committee, including the board chair and treasurer, in consultation, and with the approval of the board. The process involves a review of comparable data and documentation of the decisions. The compensation of other officers and key employees of the organization is determined by the executive director in consultation with the board. The process involves a review of comparable data and documentation of the decisions.”

Form 990, Part VI, Section C, Line 19

“The foundation files form char 500 with the charities registration bureau of the new york state attorney's office, which includes the audited financial statements which are available on line as part of the report. In addition, the foundation makes information available, as required, upon request.”

Filing and Contact Details

Filer

Filer Name
Brighter Choice Foundation Inc
EIN
14-1825626
Phone
5186944500
Address
175 CENTRAL AVENUE 5TH FLOOR, ALBANY, NY 12206

Signing Officer

Name
Anne Kiernan Lewis
Title
Acting Executive Director
Phone
5186944500
Signed
2016-11-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anne Kiernan Lewis
Formed
2000
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
4
Employees
18
Volunteers
0

Preparer

Firm
Bonadio & Co Llp
Address
6 WEMBLEY COURT, ALBANY, NY 12205
Preparer
John Olsen
Phone
5184644080
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Gain on refinancing 567,188. Gain on forgiveness of debt 4,514,848. Loss on assets held for sale -1,514,680.”

FORM 990, PART XII, LINE 2C:

“No changes to the oversight process or selection process.”

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Gain on refinancing $567,188 gain on forgiveness of debt $4,514,848”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Loss on assets held for sale $(1,514,680)”

Raw XML AppendixShowing 400 of 481 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/ActivityOrMissionDesc0THE 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.
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IRS990/Desc0THE 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 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 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 START-UP PHASE. AS IS THE CASE WITH MOST NON-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 REQUIRE 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 HAVE BEEN REQUIRED TO COVER IF THEY HAD BEEN ABLE TO SECURE THEIR OWN FINANCING WITH FAVORABLE TERMS. IN ADDITION TO PROVIDING ASSISTANCE WITH INITIAL FINANCING, THE FOUNDATION PROVIDES ACADEMIC AND OPERATIONAL SUPPORT TO SCHOOL LEADERSHIP. SUPPORT IS PROVIDED THROUGH THE FOUNDATION'S DBA, THE ALBANY CHARTER SCHOOL NETWORK (THE NETWORK). THE NETWORK CONTRACTS WITH THE SCHOOLS TO PROVIDE EXPERT AREA COACHES TO ASSIST IN THE CLASSROOM WITH TEACHER CAPACITY BUILDING AND OPERATIONALLY TO PROVIDE SUPPORT WITH ENROLLMENT, MARKETING AND HUMAN RESOURCES NEEDS.
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IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InterestGrp/ManagementAndGeneralAmt08125
IRS990/InterestGrp/ProgramServicesAmt01219088
IRS990/InterestGrp/TotalAmt01227213
IRS990/InventoriesForSaleOrUseGrp/EOYAmt06250000
IRS990/InvestmentIncomeGrp/ExclusionAmt0490
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0490
IRS990/InvestmentInJointVentureInd01
IRS990/IRPDocumentCnt023
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt02049421
IRS990/LandBldgEquipBasisNetGrp/BOYAmt032001555
IRS990/LandBldgEquipBasisNetGrp/EOYAmt017042902
IRS990/LandBldgEquipCostOrOtherBssAmt019092323
IRS990/LegalDomicileStateCd0NY
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt06731626
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd01
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE 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.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt026070321
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt015745005
IRS990/NetAssetsOrFundBalancesBOYAmt0-1747986
IRS990/NetAssetsOrFundBalancesEOYAmt0175108
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0649562
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0649562
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/FundraisingAmt06550
IRS990/OccupancyGrp/ManagementAndGeneralAmt054878
IRS990/OccupancyGrp/ProgramServicesAmt073204
IRS990/OccupancyGrp/TotalAmt0134632
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0354034
IRS990/OtherAssetsTotalGrp/EOYAmt0251562
IRS990/OtherChangesInNetAssetsAmt03567356
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt05982
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt012236
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt045843
IRS990/OtherEmployeeBenefitsGrp/TotalAmt064061
IRS990/OtherExpensesGrp/Desc0DEBT FORGIVENESS PAYMEN
IRS990/OtherExpensesGrp/Desc1OPERATING COSTS
IRS990/OtherExpensesGrp/Desc2CHARTER SCHOOL SUPPORT
IRS990/OtherExpensesGrp/Desc3BAD DEBT EXPENSE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt083224
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt148470
IRS990/OtherExpensesGrp/ProgramServicesAmt01000000
IRS990/OtherExpensesGrp/ProgramServicesAmt1153892
IRS990/OtherExpensesGrp/ProgramServicesAmt277344
IRS990/OtherExpensesGrp/TotalAmt01000000
IRS990/OtherExpensesGrp/TotalAmt1237116
IRS990/OtherExpensesGrp/TotalAmt277344
IRS990/OtherExpensesGrp/TotalAmt348470
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt06364
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt013018
IRS990/PayrollTaxesGrp/ProgramServicesAmt048772
IRS990/PayrollTaxesGrp/TotalAmt068154
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt087232
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt031998
IRS990/PrincipalOfficerNm0ANNE KIERNAN LEWIS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0CHARTER SCHOOL FACILITIES INCOME
IRS990/ProgramServiceRevenueGrp/Desc1NETWORK FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02176681
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1328690
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02176681
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1328690
IRS990/ProgSrvcAccomActy2Grp/Desc0THE FOUNDATION ALSO OPERATES SCHOLARSHIP ACTIVITIES TO HELP ENABLE CHILDREN FROM ECONOMICALLY DISADVANTAGED FAMILIES ATTEND PRIVATE SCHOOLS. THESE ACTIVITIES ARE FUNDED PRIMARILY THROUGH CONTRIBUTIONS FROM FOUNDATIONS AND INDIVIDUALS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt012000
IRS990/ProgSrvcAccomActy2Grp/GrantAmt012000
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt01004206
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt011032
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0615976
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt028500
IRS990/PYInvestmentIncomeAmt0423
IRS990/PYOtherExpensesAmt03450443
IRS990/PYOtherRevenueAmt0-32517
IRS990/PYProgramServiceRevenueAmt03181154
IRS990/PYRevenuesLessExpensesAmt0-1561044
IRS990/PYSalariesCompEmpBnftPaidAmt01847137
IRS990/PYTotalExpensesAmt05326080
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03765036
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-1644262
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02494339
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0455988
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0114000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0615976
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0799750
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0923850
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01106600
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03560176
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt044553
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt074443
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt023901
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt01544
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0144441
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.96100
IRS990ScheduleA/PublicSupportPY170Pct00.14790
IRS990ScheduleA/PublicSupportTotal170Amt03560176
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0114000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0615976
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0799750
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0923850
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01106600
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03560176
IRS990ScheduleA/TotalSupportAmt03704617
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleC/DirectContactLegislatorsAmt040000
IRS990ScheduleC/DirectContactLegislatorsInd01
IRS990ScheduleC/GrantsOtherOrganizationsInd00
IRS990ScheduleC/MailingsMembersInd00
IRS990ScheduleC/MediaAdvertisementsInd00
IRS990ScheduleC/NotDescribedSection501c3Ind00
IRS990ScheduleC/OtherActivitiesInd01
IRS990ScheduleC/PaidStaffOrManagementInd01
IRS990ScheduleC/PublicationsOrBroadcastInd00
IRS990ScheduleC/RalliesDemonstrationsInd00
IRS990ScheduleC/TotalLobbyingExpendituresAmt040000
IRS990ScheduleC/VolunteersInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt014342440
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01899120
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt016241560
IRS990ScheduleD/EquipmentGrp/BookValueAmt033522
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0148892
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0182414
IRS990ScheduleD/ExpensesNotReportedAmt01514680
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt04913685
IRS990ScheduleD/LandGrp/BookValueAmt02664968
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02664968
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt01972
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01409
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt03381
IRS990ScheduleD/OtherExpensesIncludedAmt01514680
IRS990ScheduleD/OtherRevenueAmt05082036
IRS990ScheduleD/RevenueNotReportedAmt05082036
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt03269423
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0GAIN ON REFINANCING $567,188 GAIN ON FORGIVENESS OF DEBT $4,514,848
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1LOSS ON ASSETS HELD FOR SALE $(1,514,680)
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt017042902
IRS990ScheduleD/TotalExpensesPerForm990Amt04913685
IRS990ScheduleD/TotalRevenuePerForm990Amt03269423
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt08351459
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06428365
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt012000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt02
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION MAINTAINS A SCHOLARSHIP PROGRAM WHICH PROVIDES TUITION PAYMENT FOR ELIGIBLE STUDENTS. TUITION IS PAID FOR STUDENTS WHO CONTINUE THEIR ENROLLMENT IN VARIOUS SCHOOLS OF THEIR CHOICE. TUITION IS ONLY PAID FOR STUDENTS WHO CONTINUE THEIR ENROLLMENT ASSURING THAT THE FUNDS ARE SPENT APPROPRIATELY.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PART III, LINE 1
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0ANNE KIERNAN LEWIS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD MEMBER AND ACTING EXECUTIVE DIRECTOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt066077
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0COMPENSATION
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS PREPARED BY THE INDEPENDENT AUDITORS. THE FINAL DRAFT IS REVIEWED BY SENIOR MANAGEMENT AND THE TREASURER. UPON COMPLETION OF THIS REVIEW, THE FINAL DRAFT IS SENT TO THE BOARD PRIOR TO A BOARD MEETING, AND THEN PRESENTED AND DISCUSSED AT THE BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANNUAL CONFLICT OF INTEREST FORMS ARE DISTRIBUTED TO ALL BOARD MEMBERS AS WELL AS SENIOR MANAGEMENT. UPON COMPLETION, THEY ARE FORWARDED TO THE SECRETARY OF THE BOARD AND THE TREASURER / CHAIR OF THE AUDIT COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE COMPENSATION OF THE ORGANIZATION'S EXECUTIVE DIRECTOR IS DETERMINED BY THE COMPENSATION COMMITTEE, INCLUDING THE BOARD CHAIR AND TREASURER, IN CONSULTATION, AND WITH THE APPROVAL OF THE BOARD. THE PROCESS INVOLVES A REVIEW OF COMPARABLE DATA AND DOCUMENTATION OF THE DECISIONS. THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION IS DETERMINED BY THE EXECUTIVE DIRECTOR IN CONSULTATION WITH THE BOARD. THE PROCESS INVOLVES A REVIEW OF COMPARABLE DATA AND DOCUMENTATION OF THE DECISIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FOUNDATION FILES FORM CHAR 500 WITH THE CHARITIES REGISTRATION BUREAU OF THE NEW YORK STATE ATTORNEY'S OFFICE, WHICH INCLUDES THE AUDITED FINANCIAL STATEMENTS WHICH ARE AVAILABLE ON LINE AS PART OF THE REPORT. IN ADDITION, THE FOUNDATION MAKES INFORMATION AVAILABLE, AS REQUIRED, UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GAIN ON REFINANCING 567,188. GAIN ON FORGIVENESS OF DEBT 4,514,848. LOSS ON ASSETS HELD FOR SALE -1,514,680.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO CHANGES TO THE OVERSIGHT PROCESS OR SELECTION PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0BRIGHTER CHOICE FOUNDATION INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0KRANK STREET LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt08760272
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0LENDOR REQUIRED A SEPARATE LLC CORPORATION
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt0735312
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt0175 CENTRAL AVENUE 5TH FLOOR
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0ALBANY
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd012206
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$26,179,228
Liabilities
$26,004,120
Net assets
$175,108
Revenue
$3,269,423
Expenses
$4,913,685
Net income
-$1,644,262
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.55$0.00$0.55$0.10$0.15$0.04
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.59$0.00$0.59$0.13$0.18$0.05
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.64$0.00$0.64$0.11$0.33$0.22
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.94$0.03$0.91$0.10$0.23$0.13
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.07$0.03$1.04$0.00$0.26$0.26
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.30$0.01$1.29$1.79$0.68$1.10
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.2$10.0$0.19$0.82$0.91$0.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.4$10.1$0.28$2.10$1.94$0.16
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.3$19.6$0.34$2.00$2.52$0.52
2015Detailed filing. Detailed filing data is available for this year.$26.2$26.0$0.18$3.27$4.91$1.64
2014Summary only. Only limited summary data is available for this year.$35.6$37.4$1.75$3.77$5.33$1.56
2013Detailed filing. Detailed filing data is available for this year.$37.1$37.3$0.19$6.15$5.08$1.07
2012Summary only. Only limited summary data is available for this year.$42.4$43.2$0.77$6.57$5.95$0.62
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$62.0$63.4$1.40$5.47
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$54.7$55.2$0.52$5.72