Civic Intelligence

Third Future Schools

990 • Fiscal year 2021 • EIN 81-2937922

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 15, 2021

Organization ProfileWWW.THIRDFUTURE.ORG
431 N Sable BlvdAurora, CO 80011

(720) 500-5252

Siviq Scores

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

Liabilities / Assets

98th percentile

1.41x

Higher debt load relative to assets than 98% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

86th percentile

1.52x

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

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

35th percentile

5.4%

Higher net margin than 35% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

68th percentile

$231,967

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

63rd percentile

16%

Faster asset growth than 63% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

76th percentile

41%

Faster revenue growth than 76% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets98th percentile

Assets

Up

$22,810,452

Up $3,121,133 (+16%) from 2020

Net Assets

Up

-$9,407,510

Up $728,255 (+7.2%) from 2020

Liabilities

Up

$32,217,962

Up $2,392,878 (+8.0%) from 2020

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin35th percentile

Revenue

Up

$21,257,666

Up $6,186,585 (+41%) from 2020

Expenses

Down

$20,112,809

Down $503,989 (-2.4%) from 2020

Net Income

Up

$1,144,857

Up $6,690,574 (+121%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth63rd percentile

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

$100M$50M$0-$50MAssets 2018: $1,077,695Liabilities 2018: $15,607,975Net Assets 2018: -$14,530,2802018Assets 2020: $19,689,319Liabilities 2020: $29,825,084Net Assets 2020: -$10,135,7652020Assets 2021: $22,810,452Liabilities 2021: $32,217,962Net Assets 2021: -$9,407,5102021Assets 2022: $30,340,517Liabilities 2022: $39,291,495Net Assets 2022: -$8,950,9782022Assets 2023: $40,181,482Liabilities 2023: $56,120,985Net Assets 2023: -$15,939,5032023Assets 2024: $67,246,511Liabilities 2024: $87,539,419Net Assets 2024: -$20,292,9082024

Highlighted filing

2021

Assets$22,810,452
Liabilities$32,217,962
Net Assets-$9,407,510
Open 2021 Filing

Operations Trend

Revenue Growth76th percentile

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

$40M$30M$20M$10M$0-$10MRevenue 2018: $5,100,113Expenses 2018: $10,371,187Net Income 2018: -$5,271,0742018Revenue 2020: $15,071,081Expenses 2020: $20,616,798Net Income 2020: -$5,545,7172020Revenue 2021: $21,257,666Expenses 2021: $20,112,809Net Income 2021: $1,144,8572021Revenue 2022: $23,287,705Expenses 2022: $22,831,173Net Income 2022: $456,5322022Revenue 2023: $27,449,276Expenses 2023: $32,777,249Net Income 2023: -$5,327,9732023Revenue 2024: $28,566,028Expenses 2024: $32,919,433Net Income 2024: -$4,353,4052024

Highlighted filing

2021

Revenue$21,257,666
Expenses$20,112,809
Net Income$1,144,857
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 15, 2021
Return Version
2020v4.0
Gross Receipts
$21,257,666
Mission and Program Overview

Mission

A team of dedicated teachers and leaders, working in a high performance and caring culture, maintains an intense focus on academic achievement and performance outcomes. Students find success and are engaged through personal learning, which allows students to work at their own pace and learn in a way more suited to their strengths. Third future schools holds high expectations for students and staff and believes that everyone can create their own future.

The charter school is a model for the next generation of schools, working to prepare students, especially poor and minority students for the workplace and college.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,853,109$5,194,912▲ $341,803
Cash and Non-Interest-Bearing Accounts$2,825,357$2,469,006▼ $356,351
Accounts Receivable$303,787$792,470▲ $488,683
Pledges and Grants Receivable$166,343$162,500▼ $3,843
Prepaid Expenses and Deferred Charges$112,851--
Savings and Temporary Cash Investments$50,000$50,000→ $0
Rtn Earn Endowment Incm Other Fnds$-10,135,765$-9,407,510▲ $728,255
Total Assets$19,689,319$22,810,452▲ $3,121,133
Other Assets Total$11,377,872$14,141,564▲ $2,763,692
Liabilities
Other Liabilities$25,712,046$30,090,621▲ $4,378,575
Mortgage Notes Payable Secured by Investment Property$3,560,004$1,761,421▼ $1,798,583
Accounts Payable and Accrued Expenses$220,760$365,920▲ $145,160
Deferred Revenue$332,274--
Total Liabilities$29,825,084$32,217,962▲ $2,392,878
Net Assets / Fund Balance
Total Net Assets Fund Balance$-10,135,765$-9,407,510▲ $728,255
Total Liabilities and Net Assets / Fund Balance$19,689,319$22,810,452▲ $3,121,133

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,561,871$724,366$3,286,237
Leasehold Improvements$2,623,184$332,430$2,955,614
Equipment$9,857$2,464$12,321
Other Assets Org$216,386--
Compensation and Service Providers
Top Officer Pay68th percentile

Employees

NameTitleFull / Part TimeBaseTotal
F Mike MilesCEOFT$231,967$231,967
Zach CraddockEd of SchoolFT$147,500$147,500
Carrie DewatersSchool PrincFT$136,500$136,500
Angela ProchnowSchool PrincFT$116,500$116,500
Angela PereaDirector ofFT$111,500$111,500
Michele MooreEd of InnovaFT$100,251$100,251

Board Members and Trustees

NameTitle
Jennifer Sward-millerPresident
Jennifer Sward-millerDirector
Mary LindimoreDirector
Kenyetta ClarkParent Direc
Patrick MillsSecretary/tr
Kimberly Sanchez-cawthornVice Preside

Highest Paid Contractors

ContractorServicesLocationCompensation
Abc Janitorial Services LLCJanitorialPO BOX 5154, Colorado Springs, CO 80931-5154$221,804
Revenue and Support

Revenue Composition

Contributions and Grants
$5,934,879
Program Service Revenue
$15,247,194
Investment Income
$0
Other Revenue
$75,593
All Other Contributions
$1,256,885
Change in Net Assets
$1,144,857
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$11,396,209
Other Expenses$8,716,600
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,605,848$2,348,684-$7,954,532
Occupancy$5,773$3,494,264-$3,500,037
Pension Plan Contributions$2,070,564$659,048-$2,729,612
Payroll Taxes$479,600$157,968-$637,568
Depreciation Depletion-$392,463-$392,463
All Other Expenses-$358,732-$358,732
Other Expenses$477,492$259,236-$259,236
Insurance-$139,013-$139,013
Office Expenses$55$125,155-$125,210
Advertising-$116,597-$116,597
Fees for Services Accounting$2,500$111,500-$114,000
Other Employee Benefits$57,845$16,652-$74,497
Travel-$58,216-$58,216
Interest-$45,447-$45,447
Fees for Services Legal-$12,796-$12,796
Total Functional Expenses$10,516,111$9,596,698$0$20,112,809
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Pension Liability$20,074,292
Deferred Inflows$8,183,821
Accrued Salaries$1,103,829
Opeb Liability$728,679
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
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

Form 990, Page 6, Part VI, Line 7A

“The parents of enrolled students can elect up to two parents as members of the board.”

Form 990, Page 6, Part VI, Line 11B

“Management reviews 990 prior to filing.”

Form 990, Page 6, Part VI, Line 19

“Documents are available on the school's website under financial transparency and upon request.”

Filing and Contact Details

Filer

Filer Name
Third Future Schools
EIN
81-2937922
Phone
7205005252
Address
431 N SABLE BLVD, AURORA, CO 80011

Signing Officer

Name
Jennifer Sward-miller
Title
President
Phone
7205005252
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jennifer Sward-miller
Formed
2016
Legal Domicile
Co
Voting Board Members
7
Independent Board Members
7
Employees
301
Volunteers
7

Preparer

Firm
Prospective Business Solutions LLC
Address
26 W DRY CREEK CIRCLE SUITE 600, LITTLETON, CO 80120
Preparer
Uli Keeley CPA
Phone
7202176601
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“A team of dedicated teachers and leaders, working in a high performance and caring culture, maintains an intense focus on academic achievement and performance outcomes. Students find success and are engaged through personal learning, which allows students to work at their own pace and learn in a way more suited to their strengths. Third future schools holds high expectations for students and staff and believes that everyone can create their own future.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A TEAM OF DEDICATED TEACHERS AND LEADERS, WORKING IN A HIGH PERFORMANCE AND CARING CULTURE, MAINTAINS AN INTENSE FOCUS ON ACADEMIC ACHIEVEMENT AND PERFORMANCE OUTCOMES. STUDENTS FIND SUCCESS AND ARE ENGAGED THROUGH PERSONAL LEARNING, WHICH ALLOWS STUDENTS TO WORK AT THEIR OWN PACE AND LEARN IN A WAY MORE SUITED TO THEIR STRENGTHS. THIRD FUTURE SCHOOLS HOLDS HIGH EXPECTATIONS FOR STUDENTS AND STAFF AND BELIEVES THAT EVERYONE CAN CREATE THEIR OWN FUTURE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PARENTS OF ENROLLED STUDENTS CAN ELECT UP TO TWO PARENTS AS MEMBERS OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MANAGEMENT REVIEWS 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE AVAILABLE ON THE SCHOOL'S WEBSITE UNDER FINANCIAL TRANSPARENCY AND UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0431 N SABLE BLVD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1350 BLACKHAWK STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt2755 CITADEL DRIVE WEST
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0AURORA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1AURORA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm2COLORADO SPRINGS
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd180011

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$22,810,452
Liabilities
$32,217,962
Net assets
-$9,407,510
Revenue
$21,257,666
Expenses
$20,112,809
Net income
$1,144,857
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$67.2$87.5$20.3$28.6$32.9$4.35
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$40.2$56.1$15.9$27.4$32.8$5.33
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.3$39.3$8.95$23.3$22.8$0.46
2021Detailed filing. Detailed filing data is available for this year.$22.8$32.2$9.41$21.3$20.1$1.14
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.7$29.8$10.1$15.1$20.6$5.55
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.08$15.6$14.5$5.10$10.4$5.27