Civic Intelligence

Our Bright Future Inc.

990 • Fiscal year 2022 • EIN 81-4077496

Jan 01, 2022 to Dec 31, 2022 • Filed on Mar 28, 2023

Organization ProfileWWW.OURBRIGHTFUTUREINC.ORG
254 Little Alum RdBrimfield, MA 01010

(774) 578-5111

Siviq Scores

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

Liabilities / Assets

78th percentile

0.08x

Higher debt load relative to assets than 78% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

70th percentile

0.02x

Higher debt load relative to revenue than 70% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

55th percentile

8.1%

Higher net margin than 55% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

90th percentile

86%

Faster asset growth than 90% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

91st percentile

188%

Faster revenue growth than 91% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets78th percentile

Assets

Up

$56,044

Up $25,861 (+86%) from 2021

Net Assets

Up

$51,326

Up $22,431 (+78%) from 2021

Liabilities

Up

$4,718

Up $3,430 (+266%) from 2021

Revenue And Expenses
Liabilities / Revenue70th percentileNet Margin55th percentile

Revenue

Up

$276,470

Up $180,550 (+188%) from 2021

Expenses

Up

$254,040

Up $149,998 (+144%) from 2021

Net Income

Up

$22,430

Up $30,552 (+376%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

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

$80K$60K$40K$20K$0Assets 2018: $8,665Net Assets 2018: $8,6652018Assets 2019: $11,947Liabilities 2019: $0Net Assets 2019: $11,9472019Assets 2020: $37,017Liabilities 2020: $0Net Assets 2020: $37,0172020Assets 2021: $30,183Liabilities 2021: $1,288Net Assets 2021: $28,8952021Assets 2022: $56,044Liabilities 2022: $4,718Net Assets 2022: $51,3262022Assets 2023: $79,573Liabilities 2023: $11,261Net Assets 2023: $68,3122023Assets 2024: $49,960Liabilities 2024: $27,752Net Assets 2024: $22,2082024

Highlighted filing

2022

Assets$56,044
Liabilities$4,718
Net Assets$51,326
Open 2022 Filing

Operations Trend

Revenue Growth91st percentile

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

$600K$400K$200K$0-$200KRevenue 2018: $10,792Expenses 2018: $8,014Net Income 2018: $2,7782018Revenue 2019: $29,834Expenses 2019: $26,552Net Income 2019: $3,2822019Revenue 2020: $49,307Expenses 2020: $24,237Net Income 2020: $25,0702020Revenue 2021: $95,920Expenses 2021: $104,042Net Income 2021: -$8,1222021Revenue 2022: $276,470Expenses 2022: $254,040Net Income 2022: $22,4302022Revenue 2023: $405,474Expenses 2023: $388,488Net Income 2023: $16,9862023Revenue 2024: $413,183Expenses 2024: $461,648Net Income 2024: -$48,4652024

Highlighted filing

2022

Revenue$276,470
Expenses$254,040
Net Income$22,430
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Mar 28, 2023
Return Version
2022v5.0
Gross Receipts
$276,470
Mission and Program Overview

Mission

To provide programs for under privileage students

Our mission is to empower youth and develop bright leaders through robotics, sports training and guidance in academics.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$15,009$39,887▲ $24,878
Cash and Non-Interest-Bearing Accounts$15,176$16,157▲ $981
Total Assets$30,185$56,044▲ $25,859
Liabilities
Accounts Payable and Accrued Expenses-$4,718-
Unsecured Notes Loans Payable$1,288--
Total Liabilities$1,288$4,718▲ $3,430
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$28,897$51,326▲ $22,429
Total Net Assets Fund Balance$28,897$51,326▲ $22,429
Total Liabilities and Net Assets / Fund Balance$30,185$56,044▲ $25,859

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$39,887$8,136$48,023
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Kwasi AcheampongPresidentexecutive Director
Cheryl HackensonDirector
Doris TownsDirector
Kiel BeckerDirector
Linda NeffDirector
Nejamin LawsonProgram Director
Scarlett R AcheampongClerk
Peter KariukiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$274,629
Investment Income
$0
Other Revenue
$1,841
Change in Net Assets
$22,430
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$163,293
Other Expenses$50,157
Grants and Similar Amounts Paid$40,590
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$81,169--$81,169
Current Officers, Directors, Trustees, and Key Employees$63,340--$63,340
Grants to Domestic Individuals$40,590--$40,590
Payroll Taxes$16,948--$16,948
Occupancy$7,455--$7,455
Advertising$6,814--$6,814
Depreciation Depletion$6,471--$6,471
Insurance$5,909--$5,909
Information Technology$4,889--$4,889
Other Expenses$4,798--$4,798
Office Expenses$3,303--$3,303
Fees for Services Accounting$2,890--$2,890
Fees for Services Other$2,380--$2,380
Other Employee Benefits$1,836--$1,836
Conferences and Meetings$1,811--$1,811
Fees for Services Management$1,745--$1,745
Fees for Services Legal$1,025--$1,025
Total Functional Expenses$254,040$0$0$254,040
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
Governance and Compliance

Governance Checklist

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

“Kwasi and Scarlett Achempong are husband and wife.”

Form 990 governing body review Part VI line 11

“Copy of Form 990 will be provided to the Board of Directors prior to the filing of the return.”

Conflict of interest policy compliance Part VI line 12C

“Governing policies are periodically reviewed with management and the Board of Directors”

CEO executive director top management comp Part VI line 15A

“Complete salary and compensation review was placed before the Board of Directors prior to payments starting and will be reviewed and adjusted annually.”

Governing documents etc available to public Part VI line 19

“All governing documents are available for public inspection by direct request or via the office of the attorney general of Massachusetts.”

Filing and Contact Details

Filer

Filer Name
Our Bright Future Inc
EIN
81-4077496
Address
254 LITTLE ALUM RD, BRIMFIELD, MA 01010

Signing Officer

Name
Kwasi Achempong
Title
President
Phone
7745785111
Signed
2023-03-28
Discuss with paid preparer
No

Organization Details

Principal Officer
Kwasi Acheampong
Formed
2016
Legal Domicile
Ma
Voting Board Members
8
Independent Board Members
4
Employees
17

Preparer

Firm
Doris L Towns CPA PC
Address
39 Elm St Suite 212, Southbridge, MA 01550
Preparer
Doris L Towns
Phone
7744028433
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IRS990ScheduleD/EquipmentGrp/BookValueAmt039887
IRS990ScheduleD/EquipmentGrp/DepreciationAmt08136
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt048023
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IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Kwasi and Scarlett Achempong are husband and wife.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Copy of Form 990 will be provided to the Board of Directors prior to the filing of the return.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Governing policies are periodically reviewed with management and the Board of Directors
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Complete salary and compensation review was placed before the Board of Directors prior to payments starting and will be reviewed and adjusted annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4All governing documents are available for public inspection by direct request or via the office of the attorney general of Massachusetts.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
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IRS990/TerminateOperationsInd0false
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IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt01288
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0254 little alum rd
IRS990/USAddress/CityNm0Brimfield
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd001010
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.OURBRIGHTFUTUREINC.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL2
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd011
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Kwasi Achempong
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07745785111
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-03-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OUR BRIGHT FUTURE INC
ReturnHeader/Filer/BusinessNameControlTxt0OURB
ReturnHeader/Filer/EIN0814077496
ReturnHeader/Filer/USAddress/AddressLine1Txt0254 LITTLE ALUM RD
ReturnHeader/Filer/USAddress/CityNm0BRIMFIELD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001010
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0812838065
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Doris L Towns CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt039 Elm St Suite 212
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Southbridge
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001550

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$56,044
Liabilities
$4,718
Net assets
$51,326
Revenue
$276,470
Expenses
$254,040
Net income
$22,430
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.50$0.28$0.22$4.13$4.62$0.48
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.80$0.11$0.68$4.05$3.88$0.17
2022Detailed filing. Detailed filing data is available for this year.$0.56$0.05$0.51$2.76$2.54$0.22
2021Detailed filing. Detailed filing data is available for this year.$0.30$0.01$0.29$0.96$1.04$0.08
2020Detailed filing. Detailed filing data is available for this year.$0.37$0.00$0.37$0.49$0.24$0.25
2019Detailed filing. Detailed filing data is available for this year.$0.12$0.00$0.12$0.30$0.27$0.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.09$0.09$0.11$0.08$0.03