Civic Intelligence

Kipp Texas Future Fund

990 • Fiscal year 2023 • EIN 26-0279655

Jul 01, 2022 to Jun 30, 2023 • Filed on May 07, 2024

Organization ProfileN/A
10711 KIPP WayHouston, TX 77099

(832) 328-1051

Siviq Scores

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

Liabilities / Assets

3rd percentile

0.00x

Higher debt load relative to assets than 3% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Liabilities / Revenue

7th percentile

0.03x

Higher debt load relative to revenue than 7% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Net Margin

97th percentile

80%

Higher net margin than 97% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Top Officer Pay

53rd percentile

$498,594

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 22.7% of source-year revenue.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Asset Growth

57th percentile

7.9%

Faster asset growth than 57% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Revenue Growth

27th percentile

-6.9%

Faster revenue growth than 27% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets3rd percentile

Assets

Up

$117,603,105

Up $8,579,337 (+7.9%) from 2022

Net Assets

Up

$117,538,005

Up $8,583,237 (+7.9%) from 2022

Liabilities

Down

$65,100

Down $3,900 (-5.7%) from 2022

Revenue And Expenses
Liabilities / Revenue7th percentileNet Margin97th percentile

Revenue

Down

$2,194,208

Down $163,396 (-6.9%) from 2022

Expenses

Up

$432,604

Up $47,490 (+12%) from 2022

Net Income

Down

$1,761,604

Down $210,886 (-11%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth57th percentile

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

$150M$100M$50M$0Assets 2010: $54,678,379Liabilities 2010: $3,246,229Net Assets 2010: $51,432,1502010Assets 2011: $53,748,872Liabilities 2011: $3,271,892Net Assets 2011: $50,476,9802011Assets 2012: $48,880,407Liabilities 2012: $1,103,225Net Assets 2012: $47,777,1822012Assets 2013: $49,448,662Liabilities 2013: $1,001,336Net Assets 2013: $48,447,3262013Assets 2014: $64,503,694Liabilities 2014: $1,001,336Net Assets 2014: $63,502,3582014Assets 2015: $76,356,225Liabilities 2015: $47,553Net Assets 2015: $76,308,6722015Assets 2016: $85,544,933Liabilities 2016: $58,882Net Assets 2016: $85,486,0512016Assets 2017: $102,602,340Liabilities 2017: $56,396Net Assets 2017: $102,545,9442017Assets 2018: $100,008,762Liabilities 2018: $53,446Net Assets 2018: $99,955,3162018Assets 2019: $105,273,593Liabilities 2019: $49,500Net Assets 2019: $105,224,0932019Assets 2020: $111,922,638Liabilities 2020: $56,000Net Assets 2020: $111,866,6382020Assets 2021: $117,258,366Liabilities 2021: $75,000Net Assets 2021: $117,183,3662021Assets 2022: $109,023,768Liabilities 2022: $69,000Net Assets 2022: $108,954,7682022Assets 2023: $117,603,105Liabilities 2023: $65,100Net Assets 2023: $117,538,0052023Assets 2024: $139,400,260Liabilities 2024: $89,078Net Assets 2024: $139,311,1822024

Highlighted filing

2023

Assets$117,603,105
Liabilities$65,100
Net Assets$117,538,005
Open 2023 Filing

Operations Trend

Revenue Growth27th percentile

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

$20M$10M$0-$10MExpenses 2010: $6,837,1482010Expenses 2011: $2,725,7392011Expenses 2012: $4,821,4292012Revenue 2013: $3,855,705Expenses 2013: $3,730,429Net Income 2013: $125,2762013Revenue 2014: $17,422,549Expenses 2014: $3,732,106Net Income 2014: $13,690,4432014Revenue 2015: $14,420,886Expenses 2015: $293,316Net Income 2015: $14,127,5702015Revenue 2016: $8,474,186Expenses 2016: $493,763Net Income 2016: $7,980,4232016Revenue 2017: $13,409,870Expenses 2017: $1,634,988Net Income 2017: $11,774,8822017Revenue 2018: $3,772,316Expenses 2018: $3,211,106Net Income 2018: $561,2102018Revenue 2019: $1,745,055Expenses 2019: $6,401,073Net Income 2019: -$4,656,0182019Revenue 2020: $4,067,066Expenses 2020: $5,491,194Net Income 2020: -$1,424,1282020Revenue 2021: $1,807,500Expenses 2021: $869,849Net Income 2021: $937,6512021Revenue 2022: $2,357,604Expenses 2022: $385,114Net Income 2022: $1,972,4902022Revenue 2023: $2,194,208Expenses 2023: $432,604Net Income 2023: $1,761,6042023Revenue 2024: $16,089,910Expenses 2024: $484,103Net Income 2024: $15,605,8072024

Highlighted filing

2023

Revenue$2,194,208
Expenses$432,604
Net Income$1,761,604
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 7, 2024
Return Version
2022v5.0
Gross Receipts
$8,624,946
Mission and Program Overview

Mission

PHILO Finance Corporation provides financial support to public charter schools.

KIPP Texas Future Fund is a supporting organization of KIPP Texas, Inc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$73,891,582$82,571,043▲ $8,679,461
Investments Program Related$28,500,000$28,500,000→ $0
Savings and Temporary Cash Investments$6,286,139$203,661▼ $6,082,478
Accounts Receivable$173,450$184,961▲ $11,511
Pledges and Grants Receivable$139,610$36,361▼ $103,249
Prepaid Expenses and Deferred Charges$32,987$34,759▲ $1,772
Cash and Non-Interest-Bearing Accounts$0$2,250▲ $2,250
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$109,023,768$117,603,105▲ $8,579,337
Other Assets Total$0$6,070,070▲ $6,070,070
Liabilities
Accounts Payable and Accrued Expenses$69,000$65,100▼ $3,900
Total Liabilities$69,000$65,100▼ $3,900
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$77,259,860$85,850,277▲ $8,590,417
Net Assets With Donor Restrictions$31,694,908$31,687,728▼ $7,180
Total Net Assets Fund Balance$108,954,768$117,538,005▲ $8,583,237
Total Liabilities and Net Assets / Fund Balance$109,023,768$117,603,105▲ $8,579,337

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$214,746$214,746
Equipment$0$10,022$10,022
Investment Program Related Org$28,500,000--
Other Assets Org$6,070,070--
Compensation and Service Providers
Top Officer Pay53rd percentile

Board Members and Trustees

NameTitle
Kent WallaceChair
Bill BoyarBoard Member
Gene AustinBoard Member
Jayshree DesaiBoard Member
Peter BrodskyBoard Member
Sehba Z AliCEO KIPP Texas, Inc.
Son Nam HanCFO KIPP Texas, Inc.

Highest Paid Contractors

ContractorServicesLocationCompensation
Fayez Sarofim & CoInvestment Mgt.909 Fannin St 2700, Houston, TX 77010$244,549
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$2,194,208
Other Revenue
$0
Change in Net Assets
$1,761,604

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,949,659
Revenue Not Reported on Financial Statements
$244,549
Revenue Not Reported on Form 990
$6,821,633
Total Revenue per Audited Statements
$8,771,292
Total Revenue per Form 990
$2,194,208
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$432,604
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees-$244,549-$244,549
Insurance-$44,538-$44,538
Fees for Services Accounting-$16,200-$16,200
Other Expenses-$10,475-$10,475
Fees for Services Other-$7,585-$7,585
Office Expenses-$5,184-$5,184
Fees for Services Legal-$3,073-$3,073
Total Functional Expenses$0$432,604$0$432,604

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$432,604
Expenses Not Reported on Financial Statements$244,549
Expenses per Audited Statements$188,055
Total Expenses per Audited Statements$188,055
Expenses Not Reported on Form 990$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
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 4

“KIPP Texas Future Fund's board of directors has amended the governing documents to reflect the change in the organization's focus to concentrate support for KIPP Texas, Inc. (EIN: 01-0639602), a Texas open enrollment charter school exempt from federal tax under IRC Sections 509(a)(1) and 170(b)(1)(A)(ii). The revisions of the governing documents reflect the alignment of the educational purposes of KIPP Texas Future Fund and KIPP Texas, Inc. and is deemed the best use of KIPP Texas Future Fund's assets. In the revised documents, KIPP Texas Inc. is the sole member of KIPP Texas Future Fund with the discretion to appoint or remove all board members. After the abovementioned revisions to the governing documents, KIPP Texas Future Fund submitted Form 8940, Request for Miscellaneous Determination, on August 1, 2023, requesting classification as an IRC Section 509(a)(3), Type I supporting organization.”

Form 990, Part VI, Section A, line 6

“The sole member of the Corporation is KIPP Texas, Inc.”

Form 990, Part VI, Section B, line 11B

“Form 990 is reviewed by the CFO of KIPP Texas, Inc. A copy of Form 990 is then distributed to the governing body prior to filing with the IRS.”

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

“Board Members are excluded from voting in the event a conflict of interest may exist and are regularly reminded of this obligation at board meetings. During the course of any decision-making at the board level, the directors provide insight into any entity where a conflict or relationship may exist and recuse themselves from participating in a vote. KIPP Texas Future Fund has a limited number of entities with which it contracts.”

Form 990, Part VI, Section C, line 19

“KIPP Texas Future Fund will provide these documents upon request from the public.”

Form 990, Part VII - Compensation Explanation

“Sehba Z. Ali and Son Nam Han each spend 50 hours per week in their positions as CEO and CFO for KIPP Texas, Inc. They receive no compensation for their services to KIPP Texas Future Fund.”

Filing and Contact Details

Filer

Filer Name
KIPP Texas Future Fund
EIN
26-0279655
Phone
8323281051
Address
10711 KIPP Way, Houston, TX 77099

Signing Officer

Name
Son Nam Han
Title
CFO KIPP Texas Future Fund
Phone
8323281051
Signed
2024-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Son Nam Han
Formed
2006
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Blazek & Vetterling
Address
2900 Weslayan Suite 200, Houston, TX 77027
Preparer
Barbara Murphy
Phone
7134395739
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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/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt02352681
IRS990/PYOtherExpensesAmt0385114
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt01972490
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0385114
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02357604
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt01761604
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd01
IRS990/SavingsAndTempCashInvstGrp/BOYAmt06286139
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0203661
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0010639602
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd02
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0432604
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0KIPP Texas Inc
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt0432604
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt010022
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt010022
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0244549
IRS990ScheduleD/ExpensesSubtotalAmt0188055
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt0244549
IRS990ScheduleD/InvestmentExpensesNotIncldAmt0244549
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt028500000
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0Note Receivable - KIPP Texas, Inc.
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/NetUnrealizedGainsInvstAmt06821633
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt06070070
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Due from affiliate
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0214746
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0214746
IRS990ScheduleD/RevenueNotReportedAmt06821633
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0244549
IRS990ScheduleD/RevenueSubtotalAmt01949659
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt06070070
IRS990ScheduleD/TotalBookValueProgramRltdAmt028500000
IRS990ScheduleD/TotalExpensesPerForm990Amt0432604
IRS990ScheduleD/TotalRevenuePerForm990Amt02194208
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt08771292
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0188055
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt059691
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt126768
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0403362
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1268644
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt027809
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt124298
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt07682
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt19277
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt050
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Sehba Z Ali
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1Son Nam Han
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO KIPP Texas, Inc.
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1CFO KIPP Texas, Inc.
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0498594
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1328987
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0KIPP Texas Future Fund's board of directors has amended the governing documents to reflect the change in the organization's focus to concentrate support for KIPP Texas, Inc. (EIN: 01-0639602), a Texas open enrollment charter school exempt from federal tax under IRC Sections 509(a)(1) and 170(b)(1)(A)(ii). The revisions of the governing documents reflect the alignment of the educational purposes of KIPP Texas Future Fund and KIPP Texas, Inc. and is deemed the best use of KIPP Texas Future Fund's assets. In the revised documents, KIPP Texas Inc. is the sole member of KIPP Texas Future Fund with the discretion to appoint or remove all board members. After the abovementioned revisions to the governing documents, KIPP Texas Future Fund submitted Form 8940, Request for Miscellaneous Determination, on August 1, 2023, requesting classification as an IRC Section 509(a)(3), Type I supporting organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The sole member of the Corporation is KIPP Texas, Inc.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Form 990 is reviewed by the CFO of KIPP Texas, Inc. A copy of Form 990 is then distributed to the governing body prior to filing with the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Board Members are excluded from voting in the event a conflict of interest may exist and are regularly reminded of this obligation at board meetings. During the course of any decision-making at the board level, the directors provide insight into any entity where a conflict or relationship may exist and recuse themselves from participating in a vote. KIPP Texas Future Fund has a limited number of entities with which it contracts.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4KIPP Texas Future Fund will provide these documents upon request from the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Sehba Z. Ali and Son Nam Han each spend 50 hours per week in their positions as CEO and CFO for KIPP Texas, Inc. They receive no compensation for their services to KIPP Texas Future Fund.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VII - Compensation Explanation
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0KIPP Texas Future Fund
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0PHILO Houston LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0271275285
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt00
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0DE
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0Financial assistance to charter schools in Houston
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt00
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt014027 Memorial Dr 115
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0Houston
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0TX
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd077079
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0KIPP Texas Inc
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0010639602
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0TX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Educational Services
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0Line 2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt010711 KIPP Way
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Houston
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0TX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd077099
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd01
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$117,603,105
Liabilities
$65,100
Net assets
$117,538,005
Revenue
$2,194,208
Expenses
$432,604
Net income
$1,761,604
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$139$0.09$139$16.1$0.48$15.6
2023Detailed filing. Detailed filing data is available for this year.$118$0.07$118$2.19$0.43$1.76
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$109$0.07$109$2.36$0.39$1.97
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$117$0.08$117$1.81$0.87$0.94
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$112$0.06$112$4.07$5.49$1.42
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$105$0.05$105$1.75$6.40$4.66
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$100$0.05$100.0$3.77$3.21$0.56
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$103$0.06$103$13.4$1.63$11.8
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$85.5$0.06$85.5$8.47$0.49$7.98
2015Detailed filing. Detailed filing data is available for this year.$76.4$0.05$76.3$14.4$0.29$14.1
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$64.5$1.00$63.5$17.4$3.73$13.7
2013Detailed filing. Detailed filing data is available for this year.$49.4$1.00$48.4$3.86$3.73$0.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$48.9$1.10$47.8$4.82
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$53.7$3.27$50.5$2.73
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$54.7$3.25$51.4$6.84
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