Civic Intelligence

The Future Project Inc

990 • Fiscal year 2019 • EIN 27-4374555

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 12, 2021

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

99th percentile

0.91x

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

2019 filings • NTEE T • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

92nd percentile

0.70x

Higher debt load relative to revenue than 92% of similar nonprofits.

2019 filings • NTEE T • $5M-$10M nonprofits • Source year 2019

Net Margin

18th percentile

-88%

Higher net margin than 18% of similar nonprofits.

2019 filings • NTEE T • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

83rd percentile

$48,666

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2019 filings • NTEE T • $5M-$10M nonprofits • Source year 2019

Asset Growth

1st percentile

-52%

Faster asset growth than 1% of similar nonprofits.

2019 filings • NTEE T • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

13th percentile

-58%

Faster revenue growth than 13% of similar nonprofits.

2019 filings • NTEE T • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Down

$4,980,858

Down $5,399,467 (-52%) from 2018

Net Assets

Down

$450,320

Down $5,720,737 (-93%) from 2018

Liabilities

Up

$4,530,538

Up $321,270 (+7.6%) from 2018

Revenue

Down

$6,484,872

Down $9,082,445 (-58%) from 2018

Expenses

Up

$12,205,609

Up $76,769 (+0.6%) from 2018

Net Income

Down

-$5,720,737

Down $9,159,214 (-266%) from 2018

Historical Trend

Balance Sheet Trend

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

2019

Assets$4,980,858
Liabilities$4,530,538
Net Assets$450,320

Operations Trend

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

2019

Revenue$6,484,872
Expenses$12,205,609
Net Income-$5,720,737
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 12, 2021
Return Version
2018v3.1
Gross Receipts
$6,484,872
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
Accounts Receivable$4,708,453$2,780,778▼ $1,927,675
Cash and Non-Interest-Bearing Accounts$3,940,512$1,999,420▼ $1,941,092
Prepaid Expenses and Deferred Charges$227,438$200,660▼ $26,778
Land, Buildings, and Equipment, Net$3,922$0▼ $3,922
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$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$10,380,325$4,980,858▼ $5,399,467
Other Assets Total$1,500,000$0▼ $1,500,000
Liabilities
Other Liabilities$3,795,428$3,192,734▼ $602,694
Accounts Payable and Accrued Expenses$413,840$1,337,804▲ $923,964
Total Liabilities$4,209,268$4,530,538▲ $321,270
Net Assets / Fund Balance
Temporarily Rstr Net Assets-$450,000-
Unrestricted Net Assets$6,171,057$320▼ $6,170,737
Total Net Assets Fund Balance$6,171,057$450,320▼ $5,720,737
Total Liabilities and Net Assets / Fund Balance$10,380,325$4,980,858▼ $5,399,467

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$61,992$61,992
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Kanya BalaknshnaPresidentFT$48,666$48,666
Andrew ManginoCEOFT$48,548$48,548

Board Members and Trustees

NameTitle
Brendan CullenChair
Mana VecchlottlVice Chair
Sam LeeVice Chair
Gemar MillsBoard Member
Jacqueline Hollier-JacksonBoard Member
Paula RecartBoard Member
Rod O'ConnerBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$5,958,919
Program Service Revenue
$525,953
Investment Income
$0
Other Revenue
$0
All Other Contributions
$5,958,919
Change in Net Assets
$-5,720,737
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$9,241,377
Other Expenses$2,964,232
Total Fundraising Expense$1,570,682
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,426,185$1,085,237$1,240,271$7,751,693
Payroll Taxes$974,729$194,946$222,795$1,392,470
Fees for Services Other$651,407$113,996$48,856$814,259
Interest-$217,932-$217,932
Office Expenses$170,662$29,866$12,800$213,328
Occupancy$93,701$16,398$7,028$117,127
Current Officers, Directors, Trustees, and Key Employees$68,050$13,610$15,554$97,214
Insurance-$66,799-$66,799
Other Expenses$19,162$44,712$19,973$63,874
All Other Expenses$37,033$6,481$2,777$46,291
Advertising-$4,807-$4,807
Depreciation Depletion$2,746$549$628$3,923
Total Functional Expenses$8,633,781$2,001,146$1,570,682$12,205,609
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Loans Payable$3,192,734
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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, Line 11B: Form 990 Review Process

Management reviewed a draft of the form 990 with the audltlflnance 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 15B: Compensation Review and Approval Process for Officers and Key Employees

The executive committee reviewed comparable salaries based on a recognized study and revlewed 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

No documents available to the public.

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 Balaknshna
Title
President
Signed
2021-11-12
Discuss with paid preparer
Yes

Organization Details

Formed
2011
Legal Domicile
Dc
Voting Board Members
9
Independent Board Members
8
Employees
111

Preparer

Firm
Morse and Company Cpas
Address
505 8th Ave, New York, NY 10018
Preparer
Dexter A Morse CPA
Phone
2127652200
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Program Expense
IRS990/OtherExpensesGrp/Desc1Travel and Conference
IRS990/OtherExpensesGrp/Desc2Staff Development
IRS990/OtherExpensesGrp/Desc3Miscellaneous
IRS990/OtherExpensesGrp/FundraisingAmt019973
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt046604
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1159209
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt244712
IRS990/OtherExpensesGrp/ProgramServicesAmt0923796
IRS990/OtherExpensesGrp/ProgramServicesAmt1266310
IRS990/OtherExpensesGrp/ProgramServicesAmt219162
IRS990/OtherExpensesGrp/TotalAmt0923796
IRS990/OtherExpensesGrp/TotalAmt1332887
IRS990/OtherExpensesGrp/TotalAmt2159209
IRS990/OtherExpensesGrp/TotalAmt363874
IRS990/OtherLiabilitiesGrp/BOYAmt03795428
IRS990/OtherLiabilitiesGrp/EOYAmt03192734
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt01240271
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt01085237
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt05426185
IRS990/OtherSalariesAndWagesGrp/TotalAmt07751693
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt0222795
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0194946
IRS990/PayrollTaxesGrp/ProgramServicesAmt0974729
IRS990/PayrollTaxesGrp/TotalAmt01392470
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0227438
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0200660
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0Program Fees
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0525953
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0525953
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-5720737
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt05958919
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt015087348
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt011752612
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt09964878
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt07625244
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt050389001
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt050389001
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt05958919
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt015087348
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt011752612
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt09964878
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt07625244
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt050389001
IRS990ScheduleA/TotalSupportAmt050389001
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/DepreciationAmt061992
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt061992
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03192734
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Loans Payable
IRS990ScheduleD/TotalLiabilityAmt03192734
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Management reviewed a draft of the form 990 with the audltlflnance 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The executive committee reviewed comparable salaries based on a recognized study and revlewed 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0450000
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt010380325
IRS990/TotalAssetsEOYAmt04980858
IRS990/TotalAssetsGrp/BOYAmt010380325
IRS990/TotalAssetsGrp/EOYAmt04980858
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt05958919
IRS990/TotalEmployeeCnt0111
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt01570682
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt02001146
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt08633781
IRS990/TotalFunctionalExpensesGrp/TotalAmt012205609
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04209268
IRS990/TotalLiabilitiesEOYAmt04530538
IRS990/TotalLiabilitiesGrp/BOYAmt04209268
IRS990/TotalLiabilitiesGrp/EOYAmt04530538
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt06171057
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0450320
IRS990/TotalProgramServiceExpensesAmt08633781
IRS990/TotalProgramServiceRevenueAmt0525953
IRS990/TotalReportableCompFromOrgAmt097214
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0525953
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt06484872
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt010380325
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04980858
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false

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