Civic Intelligence

The Future Project Inc

990 • Fiscal year 2018 • EIN 27-4374555

Jul 01, 2017 to Jun 30, 2018 • Filed on Dec 05, 2019

Organization Profilewww.thefutureproject.org

View Organization Page

25 Broadway 12th FloorNew York, NY 10004

(646) 481-6145

Siviq Scores

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

Liabilities / Assets

95th percentile

0.41x

Higher debt load relative to assets than 95% of similar nonprofits.

2018 filings • NTEE T • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

84th percentile

0.27x

Higher debt load relative to revenue than 84% of similar nonprofits.

2018 filings • NTEE T • $10M-$25M nonprofits • Source year 2018

Net Margin

53rd percentile

22%

Higher net margin than 53% of similar nonprofits.

2018 filings • NTEE T • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

87th percentile

$165,171

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2018 filings • NTEE T • $10M-$25M nonprofits • Source year 2018

Asset Growth

96th percentile

151%

Faster asset growth than 96% of similar nonprofits.

2018 filings • NTEE T • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

56th percentile

19%

Faster revenue growth than 56% of similar nonprofits.

2018 filings • NTEE T • $10M-$25M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets95th percentile

Assets

Up

$10,380,325

Up $8,409,991 (+427%) from 2016

Net Assets

Up

$6,171,057

Up $4,689,526 (+317%) from 2016

Liabilities

Up

$4,209,268

Up $3,720,465 (+761%) from 2016

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin53rd percentile

Revenue

Up

$15,567,317

Up $5,290,238 (+51%) from 2016

Expenses

Up

$12,128,840

Up $2,433,177 (+25%) from 2016

Net Income

Up

$3,438,477

Up $2,857,061 (+491%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2011: $8,886Liabilities 2011: $18,994Net Assets 2011: -$10,1082011Assets 2012: $92,565Liabilities 2012: $99,193Net Assets 2012: -$6,6282012Assets 2014: $174,667Liabilities 2014: $72,793Net Assets 2014: $101,8742014Assets 2015: $1,436,788Liabilities 2015: $536,673Net Assets 2015: $900,1152015Assets 2016: $1,970,334Liabilities 2016: $488,803Net Assets 2016: $1,481,5312016Assets 2018: $10,380,325Liabilities 2018: $4,209,268Net Assets 2018: $6,171,0572018Assets 2019: $4,980,858Liabilities 2019: $4,530,538Net Assets 2019: $450,3202019Assets 2020: $2,009,167Liabilities 2020: $1,954,686Net Assets 2020: $54,4812020Assets 2021: $1,618,172Liabilities 2021: $2,663,801Net Assets 2021: -$1,045,6292021Assets 2022: $1,349,796Liabilities 2022: $2,743,710Net Assets 2022: -$1,393,9142022

Highlighted filing

2018

Assets$10,380,325
Liabilities$4,209,268
Net Assets$6,171,057
Open 2018 Filing

Operations Trend

Revenue Growth56th percentile

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

$20M$10M$0-$10MRevenue 2011: $77,500Expenses 2011: $87,608Net Income 2011: -$10,1082011Expenses 2012: $1,174,2572012Revenue 2014: $2,383,597Expenses 2014: $2,540,311Net Income 2014: -$156,7142014Revenue 2015: $7,629,511Expenses 2015: $6,855,408Net Income 2015: $774,1032015Revenue 2016: $10,277,079Expenses 2016: $9,695,663Net Income 2016: $581,4162016Revenue 2018: $15,567,317Expenses 2018: $12,128,840Net Income 2018: $3,438,4772018Revenue 2019: $6,484,872Expenses 2019: $12,205,609Net Income 2019: -$5,720,7372019Revenue 2020: $2,705,380Expenses 2020: $3,101,219Net Income 2020: -$395,8392020Revenue 2021: $1,177,875Expenses 2021: $2,277,985Net Income 2021: -$1,100,1102021Revenue 2022: $919,378Expenses 2022: $1,267,663Net Income 2022: -$348,2852022

Highlighted filing

2018

Revenue$15,567,317
Expenses$12,128,840
Net Income$3,438,477
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Dec 5, 2019
Return Version
2017v2.2
Gross Receipts
$15,567,317
Mission and Program Overview

Mission

The Future Project's mission is to inspire young people to begin building the life and world of their dreams, and never stop. We focus on those students who would not otherwise have the opportunity or support to realize their greatness and share it with the world.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$3,325,000$4,708,453▲ $1,383,453
Cash and Non-Interest-Bearing Accounts$649,094$3,940,512▲ $3,291,418
Prepaid Expenses and Deferred Charges$40,163$227,438▲ $187,275
Land, Buildings, and Equipment, Net$13,345$3,922▼ $9,423
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$4,138,588$10,380,325▲ $6,241,737
Other Assets Total$110,986$1,500,000▲ $1,389,014
Liabilities
Unsecured Notes Loans Payable$750,000$3,795,428▲ $3,045,428
Accounts Payable and Accrued Expenses$656,008$413,840▼ $242,168
Total Liabilities$1,406,008$4,209,268▲ $2,803,260
Net Assets / Fund Balance
Temporarily Rstr Net Assets$3,573,214$7,392,320▲ $3,819,106
Unrestricted Net Assets$-840,634$-1,221,263▼ $380,629
Total Net Assets Fund Balance$2,732,580$6,171,057▲ $3,438,477
Total Liabilities and Net Assets / Fund Balance$4,138,588$10,380,325▲ $6,241,737

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$3,922$58,070$61,992
Other Assets Org$1,500,000--
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Andrew ManginoCEOFT$159,988$5,183$165,171
Kanya BalakrishnaPresidentFT$159,350$5,563$164,913
Gemar MillsChief Edu. OfficerFT$145,501$17,739$163,240
Todd HolcombVP, InnovationFT$149,513-$149,513
Sallome HralimaExec. Dream DirectorFT$116,950$16,416$133,366
Rebecca BlockVP, ResearchFT$116,359$16,791$133,150
John Michael ParkerVP, DevelopmentFT$114,538$4,229$118,767

Board Members and Trustees

NameTitle
Brendan CullenChair
Maria VecchiottiVice Chair
Sam LeeVice Chair
Jacqueline Hollier-JacksonBoard Member
Paula RecartBoard Member
Rod O'ConnerBoard Member
Brent TaravellaMemb til Dec 17

Highest Paid Contractors

ContractorServicesLocationCompensation
COMMON Catalyst LLCProduct Development4454 Gloria Avenue, Los Angeles, CA 91436$188,852
Bob PotterDevelopment Consult116 E66th Street, New York, NY 10065$150,000
Revenue and Support

Revenue Composition

Contributions and Grants
$15,087,348
Program Service Revenue
$479,969
Investment Income
$0
Other Revenue
$0
All Other Contributions
$15,087,348
Change in Net Assets
$3,438,477

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded2$3,330,045Fair Market Value (FMV)
Secur Prtnrshp Trust Intrsts1$2,671,473Fair Market Value (FMV)
Total Noncash Contributions3$6,001,518-

Audited Revenue Reconciliation

Revenue per Audited Statements
$15,567,317
Revenue Not Reported on Form 990
$200,000
Total Revenue per Audited Statements
$15,767,317
Total Revenue per Form 990
$15,567,317
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$9,028,516
Other Expenses$3,100,324
Total Fundraising Expense$1,637,262
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,206,294$1,073,221$1,086,962$7,366,477
Other Employee Benefits$479,128$98,767$100,032$677,927
Payroll Taxes$461,770$95,189$96,408$653,367
Fees for Services Other$236,755$181,479$180,249$598,483
Occupancy$270,119$53,844$57,054$381,017
Current Officers, Directors, Trustees, and Key Employees$233,756$48,186$48,803$330,745
Office Expenses$152,128$31,360$31,761$215,249
Travel$45,068$134,306$29,754$209,128
Interest-$76,925-$76,925
Information Technology$23,225$4,787$4,849$32,861
Other Expenses$1,267,496$31,696-$31,696
Insurance-$31,100-$31,100
Advertising-$22,676-$22,676
Depreciation Depletion$6,660$1,373$1,390$9,423
Total Functional Expenses$8,382,399$2,109,179$1,637,262$12,128,840

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$12,328,840
Expenses per Audited Statements$12,128,840
Total Expenses per Form 990$12,128,840
Expenses Not Reported on Form 990$200,000
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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
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, Line 11B: Form 990 Review Process

“Management reviewed a draft of the form 990 with the audit/finance committee and provided edits to the tax preparer. After this process was performed, the form 990 was sent to the full board of directors prior to being filed with the IRS.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The organization has a board approved conflicts of interest policy. Each board member must fill out an annual declaration stating they had no conflicts or identifying the nature of their interested party transactions.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The executive committee reviewed comparable salaries based on a recognized study and reviewed the performance of the CEO and President to determine if the existing salaries fell within these ranges. After a deliberation of this matter, proposed salary and benefit packages were voted on.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
The Future Project Inc
EIN
27-4374555
Phone
6464816145
Address
25 Broadway 12th Floor, New York, NY 10004

Signing Officer

Name
Kanya Balakrishna
Title
President
Signed
2019-12-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kanya Balakrishna
Formed
2011
Legal Domicile
Dc
Voting Board Members
8
Independent Board Members
6
Employees
137

Preparer

Firm
Schall & Ashenfarb Cpas
Address
307 5th Ave 15th Floor, NEW YORK, NY 10016-6517
Preparer
Michael Schall
Phone
2122682800
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The Organization does not believe its consolidated financial statements include any material, uncertain tax positions. Tax filings for periods ending June 30, 2015 and later are subject to examination by applicable taxing authorities.”

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IRS990/Desc0The Future Project delivered its program for unlocking student potential to young people in nearly fifty high schools across seven cities nationwide. Future Project "Dream Directors" worked with over 25,000 students in partner schools, coaching students to discover their passions and inspiring them to imagine and launch thousands of transformative passion-driven projects that improved their schools and communities. TFP's programming is leading to measurable improvements in critical mindsets, 21st Century skills, and school wide engagement metrics in partner schools.The Future Project's team conducted a rigorous research and evaluation initiative in which they gathered national evidence of the program's efficacy and impact and built capacity for future evaluation, research, and innovation in our nation's schools. Specifically, TFP conducted a rigorous review of external research across disciplines to better understand the science of unlocking youth possibility and improve its theory of change; captured data from national student samples demonstrating greater prevalence of critical mindsets and skills among students who work more closely with The Future Project; and adopted data-driven decision making and continuous improvement practices across its partner schools nationwide.The Future Project developed a detailed strategy for achieving sustainable, national scale by piloting new and lower-cost per student versions of its model in a set of designated innovation schools, investing in business development, and diversifying funding sources.
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IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt2Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt3Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt4Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt5Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt6Memb til Dec 17
IRS990/Form990PartVIISectionAGrp/TitleTxt7CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt8President
IRS990/Form990PartVIISectionAGrp/TitleTxt9VP, Innovation
IRS990/Form990PartVIISectionAGrp/TitleTxt10Chief Edu. Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt11Exec. Dream Dir.
IRS990/Form990PartVIISectionAGrp/TitleTxt12VP, Research
IRS990/Form990PartVIISectionAGrp/TitleTxt13VP, Development
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IRS990/MissionDesc0The Future Project's mission is to inspire young people to begin building the life and world of their dreams, and never stop. We focus on those students who would not otherwise have the opportunity or support to realize their greatness and share it with the world. We work toward this mission by partnering with schools across America to transform them into places where students grasp what makes them extraordinaryand act on their newfound ability to change the world.
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IRS990/OtherExpensesGrp/Desc1Staff Development
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,380,325
Liabilities
$4,209,268
Net assets
$6,171,057
Revenue
$15,567,317
Expenses
$12,128,840
Net income
$3,438,477
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.35$2.74$1.39$0.92$1.27$0.35
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.62$2.66$1.05$1.18$2.28$1.10
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.01$1.95$0.05$2.71$3.10$0.40
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.98$4.53$0.45$6.48$12.2$5.72
2018Detailed filing. Detailed filing data is available for this year.$10.4$4.21$6.17$15.6$12.1$3.44
2016Detailed filing. Detailed filing data is available for this year.$1.97$0.49$1.48$10.3$9.70$0.58
2015Detailed filing. Detailed filing data is available for this year.$1.44$0.54$0.90$7.63$6.86$0.77
2014Detailed filing. Detailed filing data is available for this year.$0.17$0.07$0.10$2.38$2.54$0.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.09$0.10$0.01$1.17
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.01$0.02$0.01$0.08$0.09$0.01