Civic Intelligence

Our Bright Future Inc.

990 • Fiscal year 2023 • EIN 81-4077496

Jan 01, 2023 to Dec 31, 2023 • Filed on Aug 15, 2024

Organization ProfileWWW.OURBRIGHTFUTUREINC.ORG
32 Everett StSouthbridge, MA 01550

(774) 578-5111

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.14x

Higher debt load relative to assets than 82% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

74th percentile

0.03x

Higher debt load relative to revenue than 74% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

52nd percentile

4.2%

Higher net margin than 52% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

95th percentile

$65,160

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 16.1% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

83rd percentile

42%

Faster asset growth than 83% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

79th percentile

47%

Faster revenue growth than 79% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Up

$79,573

Up $23,529 (+42%) from 2022

Net Assets

Up

$68,312

Up $16,986 (+33%) from 2022

Liabilities

Up

$11,261

Up $6,543 (+139%) from 2022

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin52nd percentile

Revenue

Up

$405,474

Up $129,004 (+47%) from 2022

Expenses

Up

$388,488

Up $134,448 (+53%) from 2022

Net Income

Down

$16,986

Down $5,444 (-24%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth83rd 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

2023

Assets$79,573
Liabilities$11,261
Net Assets$68,312
Open 2023 Filing

Operations Trend

Revenue Growth79th 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

2023

Revenue$405,474
Expenses$388,488
Net Income$16,986
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Aug 15, 2024
Return Version
2023v5.0
Gross Receipts
$411,249
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
Cash and Non-Interest-Bearing Accounts$16,157$48,212▲ $32,055
Land, Buildings, and Equipment, Net$39,887$31,361▼ $8,526
Total Assets$56,044$79,573▲ $23,529
Liabilities
Accounts Payable and Accrued Expenses$4,718$11,261▲ $6,543
Total Liabilities$4,718$11,261▲ $6,543
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$51,326$68,312▲ $16,986
Total Net Assets Fund Balance$51,326$68,312▲ $16,986
Total Liabilities and Net Assets / Fund Balance$56,044$79,573▲ $23,529

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$31,361$16,171$47,532
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kwasi AcheampongPresidentFT$65,160$65,160
Scarlett AcheampongSecretaryPT$24,250$24,250

Board Members and Trustees

NameTitle
Doris TownsDirector
Linda NeffDirector
Robert GalganoDirector
Peter KariukiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$381,619
Program Service Revenue
$13,483
Investment Income
$9,492
Other Revenue
$880
All Other Contributions
$375,711
Change in Net Assets
$16,986
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$250,763
Other Expenses$117,705
Grants and Similar Amounts Paid$20,020
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$136,229--$136,229
Current Officers, Directors, Trustees, and Key Employees$89,410--$89,410
Occupancy$25,686--$25,686
Payroll Taxes$21,701--$21,701
Grants to Domestic Individuals$20,020--$20,020
Office Expenses$11,413--$11,413
Depreciation Depletion$10,509--$10,509
Travel$8,141--$8,141
Fees for Services Accounting$7,615--$7,615
Advertising$7,603--$7,603
Information Technology$6,690--$6,690
Fees for Services Other$6,619--$6,619
Other Employee Benefits$3,423--$3,423
Insurance$2,640--$2,640
Other Expenses$2,504--$2,504
All Other Expenses$1,362--$1,362
Conferences and Meetings$91--$91
Total Functional Expenses$388,488$0$0$388,488
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
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

Form 990, Page 6, Part VI, Line 2

“Kwasi archempong scarlett archempong president secretary married”

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

“Copy of form 990 will be provided to the board of directors prior to the filing of the return.”

Form 990, Page 6, Part VI, Line 12C

“Governing policies are periodically reviewed with management and the board of directors.”

Form 990, Page 6, Part VI, Line 15A

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

Form 990, Page 6, 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
Phone
7745785111
Address
32 EVERETT ST, SOUTHBRIDGE, MA 01550

Signing Officer

Name
Kwasi Acheampong
Title
President
Phone
7745785111
Signed
2024-08-15

Organization Details

Principal Officer
Kwasi Acheampong
Formed
2016
Legal Domicile
Ma
Voting Board Members
8
Independent Board Members
4
Employees
16

Preparer

Firm
Dubrey Culliton & Associates LLC
Address
139 MAIN ST, STURBRIDGE, MA 01566-1208
Preparer
Thomas a Dubrey
Phone
5083473495
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0KWASI ARCHEMPONG SCARLETT ARCHEMPONG PRESIDENT SECRETARY MARRIED
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 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/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/WebsiteAddressTxt0WWW.OURBRIGHTFUTUREINC.ORG
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ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/PersonNm0KWASI ACHEAMPONG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07745785111
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-08-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OUR BRIGHT FUTURE INC
ReturnHeader/Filer/BusinessNameControlTxt0OURB
ReturnHeader/Filer/EIN0814077496
ReturnHeader/Filer/PhoneNum07745785111
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ReturnHeader/Filer/USAddress/CityNm0SOUTHBRIDGE
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0273616836
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DUBREY CULLITON & ASSOCIATES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0139 MAIN ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0STURBRIDGE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0015661208
ReturnHeader/PreparerPersonGrp/PhoneNum05083473495
ReturnHeader/PreparerPersonGrp/PreparationDt02024-08-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0THOMAS A DUBREY
ReturnHeader/ReturnTs02024-08-29T15:39:38-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$79,573
Liabilities
$11,261
Net assets
$68,312
Revenue
$405,474
Expenses
$388,488
Net income
$16,986
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
2023Detailed filing. Detailed filing data is available for this year.$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