Civic Intelligence

Better Future Forward Inc.

990 • Fiscal year 2017 • EIN 81-4772781

Jul 01, 2016 to Jun 30, 2017 • Filed on May 15, 2018

400 N WASHINGTON ST Suite 203Falls Church, VA 22046

(703) 587-4080

Siviq Scores

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

Liabilities / Assets

97th percentile

1.52x

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

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

86th percentile

0.56x

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

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

14th percentile

-19%

Higher net margin than 14% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2017

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Assets

$207,407

No earlier filing loaded for comparison.

Net Assets

-$107,404

No earlier filing loaded for comparison.

Liabilities

$314,811

No earlier filing loaded for comparison.

Revenue

$563,078

No earlier filing loaded for comparison.

Expenses

$670,482

No earlier filing loaded for comparison.

Net Income

-$107,404

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MAssets 2017: $207,407Liabilities 2017: $314,811Net Assets 2017: -$107,4042017Assets 2018: $1,365,279Liabilities 2018: $1,465,352Net Assets 2018: -$100,0732018Assets 2019: $1,610,265Liabilities 2019: $1,522,219Net Assets 2019: $88,0462019Assets 2020: $2,454,180Liabilities 2020: $2,288,403Net Assets 2020: $165,7772020Assets 2021: $2,525,619Liabilities 2021: $2,429,622Net Assets 2021: $95,9972021Assets 2022: $2,533,423Liabilities 2022: $2,828,612Net Assets 2022: -$295,1892022Assets 2023: $3,443,092Liabilities 2023: $3,442,979Net Assets 2023: $1132023Assets 2024: $2,818,128Liabilities 2024: $2,983,208Net Assets 2024: -$165,0802024

Highlighted filing

2017

Assets$207,407
Liabilities$314,811
Net Assets-$107,404

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2017: $563,078Expenses 2017: $670,482Net Income 2017: -$107,4042017Revenue 2018: $450,308Expenses 2018: $442,977Net Income 2018: $7,3312018Revenue 2019: $968,370Expenses 2019: $780,251Net Income 2019: $188,1192019Revenue 2020: $1,024,718Expenses 2020: $946,987Net Income 2020: $77,7312020Revenue 2021: $1,116,166Expenses 2021: $1,185,946Net Income 2021: -$69,7802021Revenue 2022: $722,514Expenses 2022: $1,113,700Net Income 2022: -$391,1862022Revenue 2023: $1,049,778Expenses 2023: $754,476Net Income 2023: $295,3022023Revenue 2024: $527,625Expenses 2024: $975,268Net Income 2024: -$447,6432024

Highlighted filing

2017

Revenue$563,078
Expenses$670,482
Net Income-$107,404
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 15, 2018
Return Version
2016v3.1
Gross Receipts
$563,078
Mission and Program Overview

Mission

Better future forward, inc. (bff) was established to develop and promote a novel concept for paying for postsecondary education, one that could facilitate broad access to high-quality educational programs regardless of a student's economic background. This concept is called an income share agreement (isa). With the help of philanthropic sources of funding, better future forward will work to establish broad-access isa funds to enable students of all socioeconomic backgrounds to access high-quality higher education and career training programs that align with their educational goals.

Better Future Forward, Inc. (BFF) was established to develop and promote a novel concept for paying for postsecondary education regardless of a student's economic background.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$0$166,637▲ $166,637
Land, Buildings, and Equipment, Net$0$22,895▲ $22,895
Prepaid Expenses and Deferred Charges$0$16,275▲ $16,275
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$0$207,407▲ $207,407
Other Assets Total$0$1,600▲ $1,600
Liabilities
Accounts Payable and Accrued Expenses$0$314,811▲ $314,811
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$314,811▲ $314,811
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$-107,404▼ $107,404
Total Liabilities and Net Assets / Fund Balance$0$207,407▲ $207,407

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$22,895$2,445$25,340
Compensation and Service Providers

Board Members and Trustees

NameTitle
Benjamin RileyChair of the Board & Director
Kevin JamesPresident, CEO and Director
Erin CrowleyDirector
Michael StynesDirector
Amy MartinSecretary & Director
Barry CynamonTreasurer, CFO and Exec. VP

Highest Paid Contractors

ContractorServicesLocationCompensation
Lumni USA IncProfessional Srv77 Harbor Drive, Key Biscayne, FL 33149$148,509
Revenue and Support

Revenue Composition

Contributions and Grants
$563,061
Program Service Revenue
$0
Investment Income
$17
Other Revenue
$0
All Other Contributions
$563,061
Change in Net Assets
$-107,404
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$537,312
Salaries, Compensation, and Employee Benefits$133,170
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal$348,465$5,000-$353,465
Fees for Services Other$149,308$0-$149,308
Current Officers, Directors, Trustees, and Key Employees$87,172$28,441$0$115,613
Travel$14,341$0$0$14,341
Advertising$12,810$0$0$12,810
Payroll Taxes$7,119$2,323$0$9,442
Other Employee Benefits$6,086$2,029$0$8,115
Occupancy$0$2,525$0$2,525
Depreciation Depletion$2,445--$2,445
Office Expenses$0$2,260$0$2,260
Other Expenses$0$158$0$158
Total Functional Expenses$627,746$42,736$0$670,482
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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,section B Line 11B

A completed hard copy of the form 990 was provided to the all directors for review.

Form 990, Part VI, Section C, Line 19

The organization made its governing documents, conflict of interest policy and financial statement available to the public upon request.

Form 990, Part VI, Section B Ln 15A

The board of directors will make all employment decisions in the manner consistent with good governance and will after consulting comparable data pay no more than reasonable compensation for services.

Form 990, Part VI, Section B Line 12C

The conflict of interest and disclosure policy is distributed to the board members for review. The board members will determine if a conflict of interest exist after considering all the material facts disclosed for the potential conflict of interest.

Filing and Contact Details

Filer

Filer Name
Better Future Forward Inc
EIN
81-4772781
In Care Of
% KEVIN JAMES
Phone
7035874080
Address
400 N WASHINGTON ST Suite 203, FALLS CHURCH, VA 22046

Signing Officer

Name
Kevin James
Title
CEO
Phone
7035874080
Signed
2018-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin James
Formed
2016
Legal Domicile
Va
Voting Board Members
4
Independent Board Members
3
Employees
0
Volunteers
4

Preparer

Firm
Fulvio & Associates Llp
Address
5 W 37th Street 4th Fl, NEW YORK, NY 10018
Preparer
Gennaro J Fulvio
Phone
2124903113
Supplemental Narrative

Additional Explanations

Form 990 Part IX Line 11G

Description:lumni fees total fees:148096

Form 990 Part IX Line 11G

Description:subcontracted services total fees:1212

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IRS990/OthNotesLoansReceivableNetGrp/BOYAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02323
IRS990/PayrollTaxesGrp/ProgramServicesAmt07119
IRS990/PayrollTaxesGrp/TotalAmt09442
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt016275
IRS990/PrincipalOfficerNm0KEVIN JAMES
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt00
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt00
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt00
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt00
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-107404
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt00
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0536061
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0536061
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/PublicSupportTotal170Amt05166
IRS990ScheduleA/SubstantialContributorsTotAmt0530895
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0536061
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0536061
IRS990ScheduleA/TotalSupportAmt0536078
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearAmt017
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt017
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleC/DirectContactLegislatorsAmt0720
IRS990ScheduleC/DirectContactLegislatorsInd0true
IRS990ScheduleC/PaidStaffOrManagementInd0true
IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0BETTER FUTURE FORWARD CEO CONDUCTED 10-15 MEETINGS AND PHONE CALLS (APPROXIMATELY 30-45 MINUTES EACH)WITH LEGISLATIVE STAFF (IN THE US CONGRESS AND STATE LEGISLATIVE STAFF) RELATED TO LEGISLATION FOCUSED ON INCOME SHARE AGREEMENT.
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE C SECTION II - B
IRS990ScheduleC/TotalLobbyingExpendituresAmt0720
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt022895
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02445
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt025340
IRS990ScheduleD/TotalBookValueLandBuildingsAmt022895
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COMPLETED HARD COPY OF THE FORM 990 WAS PROVIDED TO THE ALL DIRECTORS FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MADE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENT AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS WILL MAKE ALL EMPLOYMENT DECISIONS IN THE MANNER CONSISTENT WITH GOOD GOVERNANCE AND WILL AFTER CONSULTING COMPARABLE DATA PAY NO MORE THAN REASONABLE COMPENSATION FOR SERVICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CONFLICT OF INTEREST AND DISCLOSURE POLICY IS DISTRIBUTED TO THE BOARD MEMBERS FOR REVIEW. THE BOARD MEMBERS WILL DETERMINE IF A CONFLICT OF INTEREST EXIST AFTER CONSIDERING ALL THE MATERIAL FACTS DISCLOSED FOR THE POTENTIAL CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DESCRIPTION:LUMNI FEES TOTAL FEES:148096
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DESCRIPTION:SUBCONTRACTED SERVICES TOTAL FEES:1212
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI,SECTION B LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B LN 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990 PART IX LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990 PART IX LINE 11G
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt00
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt00
IRS990/TotalAssetsEOYAmt0207407
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt0207407
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0563061
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt042736
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0627746
IRS990/TotalFunctionalExpensesGrp/TotalAmt0670482

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