Civic Intelligence

The Future Project Inc

990 • Fiscal year 2021 • EIN 27-4374555

Jul 01, 2020 to Jun 30, 2021 • Filed on Oct 12, 2022

Organization Profilewww.thefutureproject.org

View Organization Page

276 5th Ave Suite 704New York, NY 10001

(646) 481-6145

Siviq Scores

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

Liabilities / Assets

97th percentile

1.65x

Higher debt load relative to assets than 97% of similar nonprofits.

2021 filings • NTEE T30 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

96th percentile

2.26x

Higher debt load relative to revenue than 96% of similar nonprofits.

2021 filings • NTEE T30 • $1M-$5M nonprofits • Source year 2021

Net Margin

8th percentile

-93%

Higher net margin than 8% of similar nonprofits.

2021 filings • NTEE T30 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

85th percentile

$148,864

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 12.6% of source-year revenue.

2021 filings • NTEE T30 • $1M-$5M nonprofits • Source year 2021

Asset Growth

8th percentile

-19%

Faster asset growth than 8% of similar nonprofits.

2021 filings • NTEE T30 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

10th percentile

-56%

Faster revenue growth than 10% of similar nonprofits.

2021 filings • NTEE T30 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$1,618,172

Down $390,995 (-19%) from 2020

Net Assets

Down

-$1,045,629

Down $1,100,110 (-2019%) from 2020

Liabilities

Up

$2,663,801

Up $709,115 (+36%) from 2020

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin8th percentile

Revenue

Down

$1,177,875

Down $1,527,505 (-56%) from 2020

Expenses

Down

$2,277,985

Down $823,234 (-27%) from 2020

Net Income

Down

-$1,100,110

Down $704,271 (-178%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth8th 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

2021

Assets$1,618,172
Liabilities$2,663,801
Net Assets-$1,045,629
Open 2021 Filing

Operations Trend

Revenue Growth10th 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

2021

Revenue$1,177,875
Expenses$2,277,985
Net Income-$1,100,110
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Oct 12, 2022
Return Version
2020v4.0
Gross Receipts
$1,177,875
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$1,966,064$1,166,064▼ $800,000
Cash and Non-Interest-Bearing Accounts$43,102$452,108▲ $409,006
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-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$2,009,167$1,618,172▼ $390,995
Other Assets Total$1$0▼ $1
Liabilities
Accounts Payable and Accrued Expenses$1,393,753$1,421,855▲ $28,102
Other Liabilities$560,933$1,241,946▲ $681,013
Total Liabilities$1,954,686$2,663,801▲ $709,115
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$54,481$-1,045,629▼ $1,100,110
Total Net Assets Fund Balance$54,481$-1,045,629▼ $1,100,110
Total Liabilities and Net Assets / Fund Balance$2,009,167$1,618,172▼ $390,995

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$61,992$61,992
Compensation and Service Providers
Top Officer Pay85th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kanya BalaknshnaPresidentFT$148,864$148,864
Gemar MillsBoard Member-$11,000$11,000

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$1,177,875
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,177,875
Change in Net Assets
$-1,100,110
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,301,383
Salaries, Compensation, and Employee Benefits$976,602
Total Fundraising Expense$58,740
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$652,600$76,777$38,387$767,764
Current Officers, Directors, Trustees, and Key Employees$135,884$15,986$7,994$159,864
Fees for Services Other$91,210$15,962$6,841$114,013
Payroll Taxes$41,628$4,897$2,449$48,974
Interest-$45,700-$45,700
Office Expenses$30,080$5,264$2,256$37,600
Insurance-$12,426-$12,426
Occupancy$8,243$1,443$618$10,304
Other Expenses$23,005$7,527-$7,527
Information Technology$2,448$428$184$3,060
Travel$149$23$11$183
Advertising-$43-$43
Total Functional Expenses$988,514$1,230,731$58,740$2,277,985
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$1,241,946
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 35% controlled entity
No
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
276 5th Ave Suite 704, New York, NY 10001

Signing Officer

Name
Kanya Balaknshna
Title
President
Signed
2022-10-12
Discuss with paid preparer
Yes

Organization Details

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

Preparer

Firm
Morse and Company Cpas
Address
88 MORGAN ST APT 5503, JERSEY CITY, NJ 07302
Preparer
Dexter A Morse CPA
Phone
2127652200
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IRS990/OtherExpensesGrp/ProgramServicesAmt123005
IRS990/OtherExpensesGrp/TotalAmt01047522
IRS990/OtherExpensesGrp/TotalAmt123005
IRS990/OtherExpensesGrp/TotalAmt27527
IRS990/OtherLiabilitiesGrp/BOYAmt0560933
IRS990/OtherLiabilitiesGrp/EOYAmt01241946
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt038387
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt076777
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0652600
IRS990/OtherSalariesAndWagesGrp/TotalAmt0767764
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt02449
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04897
IRS990/PayrollTaxesGrp/ProgramServicesAmt041628
IRS990/PayrollTaxesGrp/TotalAmt048974
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0Program Fees
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt02279291
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01095901
IRS990/PYProgramServiceRevenueAmt0426089
IRS990/PYRevenuesLessExpensesAmt0-395839
IRS990/PYSalariesCompEmpBnftPaidAmt02005318
IRS990/PYTotalExpensesAmt03101219
IRS990/PYTotalRevenueAmt02705380
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-1100110
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/CurrentTaxYearAmt01177875
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt02279291
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt05958919
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt015087348
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt011752612
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt036256045
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt036256045
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01177875
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt02279291
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt05958919
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt015087348
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt011752612
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt036256045
IRS990ScheduleA/TotalSupportAmt036256045
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/DepreciationAmt061992
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt061992
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01241946
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Loans Payable
IRS990ScheduleD/TotalLiabilityAmt01241946
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02009167
IRS990/TotalAssetsEOYAmt01618172
IRS990/TotalAssetsGrp/BOYAmt02009167
IRS990/TotalAssetsGrp/EOYAmt01618172
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01177875
IRS990/TotalEmployeeCnt09
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt058740
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01230731
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0988514
IRS990/TotalFunctionalExpensesGrp/TotalAmt02277985
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01954686
IRS990/TotalLiabilitiesEOYAmt02663801
IRS990/TotalLiabilitiesGrp/BOYAmt01954686
IRS990/TotalLiabilitiesGrp/EOYAmt02663801
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt054481
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1045629
IRS990/TotalProgramServiceExpensesAmt0988514
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt0159864
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01177875
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02009167
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01618172
IRS990/TravelGrp/FundraisingAmt011
IRS990/TravelGrp/ManagementAndGeneralAmt023
IRS990/TravelGrp/ProgramServicesAmt0149
IRS990/TravelGrp/TotalAmt0183
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0276 5th Ave Suite 704
IRS990/USAddress/CityNm0New York
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010001
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0www.thefutureproject.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Kanya Balaknshna
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,618,172
Liabilities
$2,663,801
Net assets
-$1,045,629
Revenue
$1,177,875
Expenses
$2,277,985
Net income
-$1,100,110
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
2021Detailed filing. Detailed filing data is available for this year.$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
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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