Civic Intelligence

The Future Project Inc

990 • Fiscal year 2022 • EIN 27-4374555

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

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

2.03x

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

2022 filings • NTEE T30 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

97th percentile

2.98x

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

2022 filings • NTEE T30 • $1M-$5M nonprofits • Source year 2022

Net Margin

18th percentile

-38%

Higher net margin than 18% of similar nonprofits.

2022 filings • NTEE T30 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

66th percentile

$0

Higher top officer pay than 66% of similar nonprofits.

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

2022 filings • NTEE T30 • $1M-$5M nonprofits • Source year 2022

Asset Growth

22nd percentile

-17%

Faster asset growth than 22% of similar nonprofits.

2022 filings • NTEE T30 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

29th percentile

-22%

Faster revenue growth than 29% of similar nonprofits.

2022 filings • NTEE T30 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$1,349,796

Down $268,376 (-17%) from 2021

Net Assets

Down

-$1,393,914

Down $348,285 (-33%) from 2021

Liabilities

Up

$2,743,710

Up $79,909 (+3.0%) from 2021

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin18th percentile

Revenue

Down

$919,378

Down $258,497 (-22%) from 2021

Expenses

Down

$1,267,663

Down $1,010,322 (-44%) from 2021

Net Income

Up

-$348,285

Up $751,825 (+68%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth22nd 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

2022

Assets$1,349,796
Liabilities$2,743,710
Net Assets-$1,393,914
Open 2022 Filing

Operations Trend

Revenue Growth29th 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

2022

Revenue$919,378
Expenses$1,267,663
Net Income-$348,285
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.1
Gross Receipts
$919,378
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$1,166,064$1,166,064→ $0
Cash and Non-Interest-Bearing Accounts$452,108$183,732▼ $268,376
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$1,618,172$1,349,796▼ $268,376
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$1,421,855$1,426,083▲ $4,228
Other Liabilities$1,241,946$1,317,627▲ $75,681
Total Liabilities$2,663,801$2,743,710▲ $79,909
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,045,629$-1,393,914▼ $348,285
Total Net Assets Fund Balance$-1,045,629$-1,393,914▼ $348,285
Total Liabilities and Net Assets / Fund Balance$1,618,172$1,349,796▼ $268,376

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$61,992$61,992
Compensation and Service Providers
Top Officer Pay66th 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
$919,378
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$919,378
Change in Net Assets
$-348,285
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,033,520
Other Expenses$234,143
Total Fundraising Expense$69,482
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$769,876$90,574$45,287$905,737
Other Employee Benefits$108,616$12,778$6,389$127,783
Fees for Services Other$54,611$9,557$4,096$68,264
Office Expenses$34,367$6,014$2,578$42,959
Interest-$38,500-$38,500
Information Technology$11,800$2,065$885$14,750
Occupancy$11,245$1,968$843$14,056
Insurance-$11,755-$11,755
Other Expenses$3,210$4,813$7,830$8,023
Travel$3,360$24$817$4,201
Advertising-$43$757$800
Total Functional Expenses$1,020,090$178,091$69,482$1,267,663
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$1,317,627
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
2023-05-15
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 & Company CPAs LLP
Address
28445 Highgate Drive, Bonita Springs, FL 34135
Preparer
Dexter A Morse CPA
Phone
2127652200
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IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt045287
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt090574
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0769876
IRS990/OtherSalariesAndWagesGrp/TotalAmt0905737
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0Program Fees
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01177875
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01301383
IRS990/PYRevenuesLessExpensesAmt0-1100110
IRS990/PYSalariesCompEmpBnftPaidAmt0976602
IRS990/PYTotalExpensesAmt02277985
IRS990/PYTotalRevenueAmt01177875
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-348285
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/CurrentTaxYearAmt0919378
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01177875
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt02279291
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt05958919
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt015087348
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt025422811
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt025422811
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0919378
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01177875
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt02279291
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt05958919
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt015087348
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt025422811
IRS990ScheduleA/TotalSupportAmt025422811
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/DepreciationAmt061992
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt061992
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01317627
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Loans Payable
IRS990ScheduleD/TotalLiabilityAmt01317627
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/TotalAssetsBOYAmt01618172
IRS990/TotalAssetsEOYAmt01349796
IRS990/TotalAssetsGrp/BOYAmt01618172
IRS990/TotalAssetsGrp/EOYAmt01349796
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0919378
IRS990/TotalEmployeeCnt09
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt069482
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0178091
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01020090
IRS990/TotalFunctionalExpensesGrp/TotalAmt01267663
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02663801
IRS990/TotalLiabilitiesEOYAmt02743710
IRS990/TotalLiabilitiesGrp/BOYAmt02663801
IRS990/TotalLiabilitiesGrp/EOYAmt02743710
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1045629
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1393914
IRS990/TotalProgramServiceExpensesAmt01020090
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0919378
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01618172
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01349796
IRS990/TravelGrp/FundraisingAmt0817
IRS990/TravelGrp/ManagementAndGeneralAmt024
IRS990/TravelGrp/ProgramServicesAmt03360
IRS990/TravelGrp/TotalAmt04201
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/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Kanya Balaknshna
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0The Future Project Inc
ReturnHeader/Filer/BusinessNameControlTxt0FUTU
ReturnHeader/Filer/EIN0274374555
ReturnHeader/Filer/PhoneNum06464816145
ReturnHeader/Filer/USAddress/AddressLine1Txt0276 5th Ave Suite 704
ReturnHeader/Filer/USAddress/CityNm0New York

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,349,796
Liabilities
$2,743,710
Net assets
-$1,393,914
Revenue
$919,378
Expenses
$1,267,663
Net income
-$348,285
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$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
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