Civic Intelligence

The Future Project Inc

990 • Fiscal year 2020 • EIN 27-4374555

Jul 01, 2019 to Jun 30, 2020 • Filed on May 16, 2022

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

0.97x

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

2020 filings • NTEE T30 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

86th percentile

0.72x

Higher debt load relative to revenue than 86% of similar nonprofits.

2020 filings • NTEE T30 • $1M-$5M nonprofits • Source year 2020

Net Margin

25th percentile

-15%

Higher net margin than 25% of similar nonprofits.

2020 filings • NTEE T30 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

58th percentile

$0

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • NTEE T30 • $1M-$5M nonprofits • Source year 2020

Asset Growth

1st percentile

-60%

Faster asset growth than 1% of similar nonprofits.

2020 filings • NTEE T30 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

15th percentile

-58%

Faster revenue growth than 15% of similar nonprofits.

2020 filings • NTEE T30 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$2,009,167

Down $2,971,691 (-60%) from 2019

Net Assets

Down

$54,481

Down $395,839 (-88%) from 2019

Liabilities

Down

$1,954,686

Down $2,575,852 (-57%) from 2019

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin25th percentile

Revenue

Down

$2,705,380

Down $3,779,492 (-58%) from 2019

Expenses

Down

$3,101,219

Down $9,104,390 (-75%) from 2019

Net Income

Up

-$395,839

Up $5,324,898 (+93%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth1st 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

2020

Assets$2,009,167
Liabilities$1,954,686
Net Assets$54,481
Open 2020 Filing

Operations Trend

Revenue Growth15th 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

2020

Revenue$2,705,380
Expenses$3,101,219
Net Income-$395,839
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 16, 2022
Return Version
2019v5.0
Gross Receipts
$2,705,380
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$2,780,778$1,966,064▼ $814,714
Prepaid Expenses and Deferred Charges$200,660$0▼ $200,660
Cash and Non-Interest-Bearing Accounts$1,999,420$43,102▼ $1,956,318
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-
Total Assets$4,980,858$2,009,167▼ $2,971,691
Other Assets Total-$1-
Liabilities
Accounts Payable and Accrued Expenses$1,337,804$1,393,753▲ $55,949
Other Liabilities$3,192,734$560,933▼ $2,631,801
Total Liabilities$4,530,538$1,954,686▼ $2,575,852
Net Assets / Fund Balance
Net Assets With Donor Restrictions$450,000--
Net Assets Without Donor Restrictions$320$54,481▲ $54,161
Total Net Assets Fund Balance$450,320$54,481▼ $395,839
Total Liabilities and Net Assets / Fund Balance$4,980,858$2,009,167▼ $2,971,691

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$61,992$61,992
Compensation and Service Providers
Top Officer Pay58th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$2,279,291
Program Service Revenue
$426,089
Investment Income
$0
Other Revenue
$0
All Other Contributions
$2,279,291
Change in Net Assets
$-395,839
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,005,318
Other Expenses$1,095,901
Total Fundraising Expense$349,232
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,069,563$213,913$244,471$1,527,947
Other Employee Benefits$334,160$66,832$76,379$477,371
Fees for Services Other$313,357$54,837$23,502$391,696
Interest-$131,207-$131,207
Insurance-$35,492-$35,492
Office Expenses$22,502$3,938$1,688$28,128
Occupancy$18,420$3,223$1,381$23,024
Travel$14,173$2,480$1,063$17,716
Advertising-$16,019-$16,019
Other Expenses$86,413$13,554-$13,554
Information Technology$9,974$1,745$748$12,467
Total Functional Expenses$2,004,636$747,351$349,232$3,101,219
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$560,933
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
25 Broadway 12th Floor, New York, NY 10004

Signing Officer

Name
Kanya Balaknshna
Title
President
Signed
2022-05-16
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
88 MORGAN ST APT 5503, JERSEY CITY, NJ 07302
Preparer
Dexter A Morse CPA
Phone
2127652200
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IRS990/OtherExpensesGrp/ProgramServicesAmt186413
IRS990/OtherExpensesGrp/TotalAmt0340185
IRS990/OtherExpensesGrp/TotalAmt186413
IRS990/OtherExpensesGrp/TotalAmt213554
IRS990/OtherLiabilitiesGrp/BOYAmt03192734
IRS990/OtherLiabilitiesGrp/EOYAmt0560933
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt0244471
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0213913
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01069563
IRS990/OtherSalariesAndWagesGrp/TotalAmt01527947
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0200660
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0Program Fees
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0426089
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0426089
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt05958919
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt02964232
IRS990/PYProgramServiceRevenueAmt0525953
IRS990/PYRevenuesLessExpensesAmt0-5720737
IRS990/PYSalariesCompEmpBnftPaidAmt09241377
IRS990/PYTotalExpensesAmt012205609
IRS990/PYTotalRevenueAmt06484872
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-395839
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/CurrentTaxYearAmt02279291
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt05958919
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt015087348
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt011752612
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt09964878
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt045043048
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt045043048
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt02279291
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt05958919
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt015087348
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt011752612
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt09964878
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt045043048
IRS990ScheduleA/TotalSupportAmt045043048
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/DepreciationAmt061992
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt061992
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0560933
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Loans Payable
IRS990ScheduleD/TotalLiabilityAmt0560933
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/TotalAssetsBOYAmt04980858
IRS990/TotalAssetsEOYAmt02009167
IRS990/TotalAssetsGrp/BOYAmt04980858
IRS990/TotalAssetsGrp/EOYAmt02009167
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02279291
IRS990/TotalEmployeeCnt0111
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0349232
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0747351
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02004636
IRS990/TotalFunctionalExpensesGrp/TotalAmt03101219
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04530538
IRS990/TotalLiabilitiesEOYAmt01954686
IRS990/TotalLiabilitiesGrp/BOYAmt04530538
IRS990/TotalLiabilitiesGrp/EOYAmt01954686
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0450320
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt054481
IRS990/TotalProgramServiceExpensesAmt02004636
IRS990/TotalProgramServiceRevenueAmt0426089
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0426089
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02705380
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04980858
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02009167
IRS990/TravelGrp/FundraisingAmt01063
IRS990/TravelGrp/ManagementAndGeneralAmt02480
IRS990/TravelGrp/ProgramServicesAmt014173
IRS990/TravelGrp/TotalAmt017716
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt025 Broadway 12th Floor
IRS990/USAddress/CityNm0New York
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010004
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0www.thefutureproject.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Kanya Balaknshna
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0The Future Project Inc
ReturnHeader/Filer/BusinessNameControlTxt0FUTU

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,009,167
Liabilities
$1,954,686
Net assets
$54,481
Revenue
$2,705,380
Expenses
$3,101,219
Net income
-$395,839
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
2020Detailed filing. Detailed filing data is available for this year.$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