Civic Intelligence

Future Ties Inc Nfp

990 • Fiscal year 2021 • EIN 27-5469921

Jan 01, 2021 to Dec 31, 2021 • Filed on Dec 14, 2022

Organization ProfileFUTURETIES.ORG

View Organization Page

6418 S King Drive BsmtChicago, IL 60637

(773) 218-5510

Siviq Scores

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

Liabilities / Assets

44th percentile

0.04x

Higher debt load relative to assets than 44% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

40th percentile

0.05x

Higher debt load relative to revenue than 40% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

96th percentile

80%

Higher net margin than 96% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

42nd percentile

$22,120

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

97th percentile

251%

Faster asset growth than 97% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

97th percentile

426%

Faster revenue growth than 97% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets44th percentile

Assets

Up

$1,557,704

Up $1,113,848 (+251%) from 2020

Net Assets

Up

$1,491,990

Up $1,118,754 (+300%) from 2020

Liabilities

Down

$65,714

Down $4,906 (-6.9%) from 2020

Revenue And Expenses
Liabilities / Revenue40th percentileNet Margin96th percentile

Revenue

Up

$1,400,033

Up $1,133,846 (+426%) from 2020

Expenses

Up

$281,322

Up $113,466 (+68%) from 2020

Net Income

Up

$1,118,711

Up $1,020,380 (+1038%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2020: $443,856Liabilities 2020: $70,620Net Assets 2020: $373,2362020Assets 2021: $1,557,704Liabilities 2021: $65,714Net Assets 2021: $1,491,9902021Assets 2022: $1,491,742Liabilities 2022: $62,126Net Assets 2022: $1,429,6162022Assets 2023: $1,318,017Liabilities 2023: $59,136Net Assets 2023: $1,258,8812023Assets 2024: $1,264,213Liabilities 2024: $55,672Net Assets 2024: $1,208,5412024

Highlighted filing

2021

Assets$1,557,704
Liabilities$65,714
Net Assets$1,491,990
Open 2021 Filing

Operations Trend

Revenue Growth97th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2020: $266,187Expenses 2020: $167,856Net Income 2020: $98,3312020Revenue 2021: $1,400,033Expenses 2021: $281,322Net Income 2021: $1,118,7112021Revenue 2022: $445,820Expenses 2022: $508,194Net Income 2022: -$62,3742022Revenue 2023: $285,842Expenses 2023: $456,577Net Income 2023: -$170,7352023Revenue 2024: $362,892Expenses 2024: $413,232Net Income 2024: -$50,3402024

Highlighted filing

2021

Revenue$1,400,033
Expenses$281,322
Net Income$1,118,711
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Dec 14, 2022
Return Version
2021v4.2
Gross Receipts
$1,400,033
Mission and Program Overview

Mission

Mentoring, tutoring, and enrighment programs for low income, at-risk youth. These individuals are given the opportunity to receive a higher education. We are dedicated to providing the information, support and connections that families need to assist them on the road to success.

Mentoring,tutoring,and enrichment programs for low income, at risk youth, these individuals are given the opportunity to receive a higer education. We are dedicated to providing the information, support and connections that families need to assist them on the road to success.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$900$868,801▲ $867,901
Cash and Non-Interest-Bearing Accounts$442,956$688,903▲ $245,947
Total Assets$443,856$1,557,704▲ $1,113,848
Liabilities
Unsecured Notes Loans Payable$69,302$65,714▼ $3,588
Accounts Payable and Accrued Expenses$1,318--
Total Liabilities$70,620$65,714▼ $4,906
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$373,236$1,346,365▲ $973,129
Net Assets With Donor Restrictions-$145,625-
Total Net Assets Fund Balance$373,236$1,491,990▲ $1,118,754
Total Liabilities and Net Assets / Fund Balance$443,856$1,557,704▲ $1,113,848

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$4,800$4,800
Buildings$828,801--
Land$40,000--
Compensation and Service Providers
Top Officer Pay42nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Tenesha PayneOutrech WorkerFT$22,120$22,120
Maddox JenniferExecutive Director-$14,000$14,000

Board Members and Trustees

NameTitle
Stanton RobinsonChairman & Treasurer
Ryan PriesterProgram Fundraising Member
Kimberly MaddoxRecording Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,380,408
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$19,625
All Other Contributions
$1,380,408
Change in Net Assets
$1,118,711
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$175,334
Salaries, Compensation, and Employee Benefits$105,988
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$35,137$70,737-$105,874
Fees for Services Other$59,811$1,913-$61,724
Office Expenses$10,348$10,843-$21,191
All Other Expenses$8,073$1,943-$10,016
Other Expenses$6,367$1,302-$7,669
Insurance-$2,659-$2,659
Information Technology$417$1,951-$2,368
Depreciation Depletion-$900-$900
Travel$369$183-$552
Other Employee Benefits-$114-$114
Total Functional Expenses$185,840$95,482$0$281,322
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Officer directors etc family relationship Part VI line 2

“Kimberly maddox, ceo is mother of jennifer maddox, executive director”

Form 990 governing body review Part VI line 11

“No review was conducted or will be conducted”

Governing documents etc available to public Part VI line 19

“Governing documents are made available to the public upon request. The general public maycontact the organization via contact information presented on the organizations websiteto make their request”

Filing and Contact Details

Filer

Filer Name
Future Ties Inc Nfp
EIN
27-5469921
Address
6418 S KING DRIVE BSMT, CHICAGO, IL 60637

Signing Officer

Name
Jennifer Maddox
Title
Executive Direc
Phone
7732135510
Signed
2022-12-14
Discuss with paid preparer
No

Organization Details

Principal Officer
Maddox Jennifer 3 Officer
Formed
2011
Legal Domicile
Il
Voting Board Members
5
Independent Board Members
4
Employees
6

Preparer

Firm
OMOTOSHO & ASSOCIATES CPAs LLC
Address
1525 EAST 53RD ST SUITE 620, Chicago, IL 60615
Preparer
Akin Omotosho
Phone
7737520035
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“A prior year expense was reversed in 2021. An adjustment was made to correct this error”

List of other fees for services expenses Part IX line 11G

“Part ix statement of functional expenses ln 11g program services other contractors $46,787legal & professional services $13,024part ix statement of functional expenses ln 11g management & genral other contractors $600legal & professional services $1,313”

List of other expenses Part IX line 24E

“Part ix statement of functional expenses ln 24e program services other food expense $1,130stipends 2,064other $2,937part ix statement of functional expenses ln 24e management & genral other food expense $159”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0KIMBERLY MADDOX, CEO IS MOTHER OF JENNIFER MADDOX, EXECUTIVE DIRECTOR
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS CONDUCTED OR WILL BE CONDUCTED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. THE GENERAL PUBLIC MAYCONTACT THE ORGANIZATION VIA CONTACT INFORMATION PRESENTED ON THE ORGANIZATIONS WEBSITETO MAKE THEIR REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A PRIOR YEAR EXPENSE WAS REVERSED IN 2021. AN ADJUSTMENT WAS MADE TO CORRECT THIS ERROR
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PART IX STATEMENT OF FUNCTIONAL EXPENSES LN 11G PROGRAM SERVICES OTHER CONTRACTORS $46,787LEGAL & PROFESSIONAL SERVICES $13,024PART IX STATEMENT OF FUNCTIONAL EXPENSES LN 11G MANAGEMENT & GENRAL OTHER CONTRACTORS $600LEGAL & PROFESSIONAL SERVICES $1,313
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PART IX STATEMENT OF FUNCTIONAL EXPENSES LN 24E PROGRAM SERVICES OTHER FOOD EXPENSE $1,130STIPENDS 2,064OTHER $2,937PART IX STATEMENT OF FUNCTIONAL EXPENSES LN 24E MANAGEMENT & GENRAL OTHER FOOD EXPENSE $159
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Explanation of other changes in net assets or fund balances Part XI line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4List of other fees for services expenses Part IX line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5List of other expenses Part IX line 24e
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FUTURE TIES INC NFP
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ReturnHeader/Filer/USAddress/AddressLine1Txt06418 S KING DRIVE BSMT
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0611457479
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0OMOTOSHO & ASSOCIATES CPAs LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01525 EAST 53RD ST SUITE 620
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Chicago
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ReturnHeader/PreparerPersonGrp/PreparationDt02022-12-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0AKIN OMOTOSHO
ReturnHeader/ReturnTs02022-12-15T10:29:04-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JENNIFER
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MADDOX
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,557,704
Liabilities
$65,714
Net assets
$1,491,990
Revenue
$1,400,033
Expenses
$281,322
Net income
$1,118,711
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.26$0.06$1.21$0.36$0.41$0.05
2023Detailed filing. Detailed filing data is available for this year.$1.32$0.06$1.26$0.29$0.46$0.17
2022Detailed filing. Detailed filing data is available for this year.$1.49$0.06$1.43$0.45$0.51$0.06
2021Detailed filing. Detailed filing data is available for this year.$1.56$0.07$1.49$1.40$0.28$1.12
2020Detailed filing. Detailed filing data is available for this year.$0.44$0.07$0.37$0.27$0.17$0.10