Civic Intelligence

Brighter Horizon Foundation

990 • Fiscal year 2019 • EIN 83-0995509

Jan 01, 2019 to Dec 31, 2019 • Filed on Apr 08, 2020

Organization ProfileBRIGHTERHORIZONFOUNDATION.ORG
739 West Westview StreetPhiladelphia, PA 19119

(267) 990-1920

Siviq Scores

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

Liabilities / Assets

69th percentile

0.02x

Higher debt load relative to assets than 69% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

72nd percentile

0.02x

Higher debt load relative to revenue than 72% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

88th percentile

40%

Higher net margin than 88% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

93rd percentile

143%

Faster asset growth than 93% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

95th percentile

145%

Faster revenue growth than 95% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets69th percentile

Assets

Up

$250,399

Up $147,186 (+143%) from 2018

Net Assets

Up

$244,312

Up $143,799 (+143%) from 2018

Liabilities

Up

$6,087

Up $3,387 (+125%) from 2018

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin88th percentile

Revenue

Up

$262,173

Up $155,338 (+145%) from 2018

Expenses

Up

$157,022

Up $149,822 (+2081%) from 2018

Net Income

Up

$105,151

Up $5,516 (+5.5%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth93rd percentile

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

$1.0M$500K$0Assets 2018: $103,213Liabilities 2018: $2,700Net Assets 2018: $100,5132018Assets 2019: $250,399Liabilities 2019: $6,087Net Assets 2019: $244,3122019Assets 2020: $497,598Liabilities 2020: $62,826Net Assets 2020: $434,7722020Assets 2021: $753,172Liabilities 2021: $25,410Net Assets 2021: $727,7622021Assets 2022: $768,972Liabilities 2022: $27,571Net Assets 2022: $741,4012022Assets 2023: $852,725Liabilities 2023: $24,888Net Assets 2023: $827,8372023Assets 2024: $873,172Liabilities 2024: $26,672Net Assets 2024: $846,5002024

Highlighted filing

2019

Assets$250,399
Liabilities$6,087
Net Assets$244,312
Open 2019 Filing

Operations Trend

Revenue Growth95th percentile

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

$600K$400K$200K$0-$200KRevenue 2018: $106,835Expenses 2018: $7,200Net Income 2018: $99,6352018Revenue 2019: $262,173Expenses 2019: $157,022Net Income 2019: $105,1512019Revenue 2020: $368,951Expenses 2020: $212,395Net Income 2020: $156,5562020Revenue 2021: $533,590Expenses 2021: $299,120Net Income 2021: $234,4702021Revenue 2022: $511,049Expenses 2022: $391,621Net Income 2022: $119,4282022Revenue 2023: $526,878Expenses 2023: $468,929Net Income 2023: $57,9492023Revenue 2024: $480,534Expenses 2024: $532,569Net Income 2024: -$52,0352024

Highlighted filing

2019

Revenue$262,173
Expenses$157,022
Net Income$105,151
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Apr 8, 2020
Return Version
2019v5.0
Gross Receipts
$262,173
Mission and Program Overview

Mission

The purpose of brighter horizon foundation is to operate for educational advancement and for other charitable purposes by the distribution of funds for such purposes and, particulary, to act as a scholarship funding vehicle to help first generation college-pursuing high school students complete a four-year college education, using selection criteria based upon academic and financial need.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$103,213$219,730▲ $116,517
Cash and Non-Interest-Bearing Accounts-$27,121-
Prepaid Expenses and Deferred Charges-$3,548-
Total Assets$103,213$250,399▲ $147,186
Liabilities
Accounts Payable and Accrued Expenses$2,700$6,087▲ $3,387
Total Liabilities$2,700$6,087▲ $3,387
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$100,513$244,312▲ $143,799
Total Net Assets Fund Balance$100,513$244,312▲ $143,799
Total Liabilities and Net Assets / Fund Balance$103,213$250,399▲ $147,186
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Alana W RobinsonChairperson
Yvette D BrightPresident
Alan KrigsteinVice Chairpe
Dr Robin SmartDirector
Lisa SantareDirector
Michael VenneraDirector
Stephan RokerDirector
Terry BookerFundraising
Alison S WoodsProgram Chai
Michelle MillerSecretary
Richard Lauro CPASecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$261,009
Program Service Revenue
$0
Investment Income
$1,164
Other Revenue
$0
All Other Contributions
$261,009
Change in Net Assets
$105,151

Audited Revenue Reconciliation

Revenue per Audited Statements
$262,173
Revenue Not Reported on Form 990
$38,648
Total Revenue per Audited Statements
$300,821
Total Revenue per Form 990
$262,173
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$157,022
Total Fundraising Expense$40,415
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$17,185$29,434$40,415$17,185
Fees for Services Legal-$11,529-$11,529
Office Expenses-$5,425-$5,425
Fees for Services Accounting-$300-$300
Total Functional Expenses$69,919$46,688$40,415$157,022

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$157,022
Total Expenses per Audited Statements$157,022
Total Expenses per Form 990$157,022
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
Audit committee
Yes
Backup withholding compliance
No
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 11B

“The board is given a draft of the 990 and upon approval through a vote, the final 990 is issued and filed.”

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

“Annually all directors and officers are required to disclose and submit a signed conflict of interest policy.”

Form 990, Page 6, Part VI, Line 19

“Form 990 and governing documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Brighter Horizon Foundation
EIN
83-0995509
Phone
2679901920
Address
739 WEST WESTVIEW STREET, PHILADELPHIA, PA 19119

Signing Officer

Name
Yvette D Bright
Title
President
Phone
2679901920
Signed
2020-04-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Yvette D Bright
Formed
2018
Legal Domicile
Pa
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
21

Preparer

Firm
O'CONNELL & COMPANY LLC
Address
165 TOWNSHIP LINE RD STE 1100, JENKINTOWN, PA 19046
Preparer
Robert J Mcnamee
Phone
2158874425
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The purpose of brighter horizon foundation is to operate for educational advancement and for other charitable purposes by the distribution of funds for such purposes and, particulary, to act as a scholarship funding vehicle to help first generation college-pursuing high school students complete a four-year college education, using selection criteria based upon academic and financial need.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization is exempt from income tax under irc section 501(c)(3), though it is subject to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded by the code. The organization has processes presently in place to ensure the maintenance of its tax-exempt status; to identify and report unrelated income; to determine its filing and tax obligations; and to identify and evaluate other matters that may be considered tax positions. The organization has determined that there are no material uncertain tax positions that require recognition or disclosure in the financial statements.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PURPOSE OF BRIGHTER HORIZON FOUNDATION IS TO OPERATE FOR EDUCATIONAL ADVANCEMENT AND FOR OTHER CHARITABLE PURPOSES BY THE DISTRIBUTION OF FUNDS FOR SUCH PURPOSES AND, PARTICULARY, TO ACT AS A SCHOLARSHIP FUNDING VEHICLE TO HELP FIRST GENERATION COLLEGE-PURSUING HIGH SCHOOL STUDENTS COMPLETE A FOUR-YEAR COLLEGE EDUCATION, USING SELECTION CRITERIA BASED UPON ACADEMIC AND FINANCIAL NEED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD IS GIVEN A DRAFT OF THE 990 AND UPON APPROVAL THROUGH A VOTE, THE FINAL 990 IS ISSUED AND FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANNUALLY ALL DIRECTORS AND OFFICERS ARE REQUIRED TO DISCLOSE AND SUBMIT A SIGNED CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 AND GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
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ReturnHeader/ReturnTs02020-04-08T11:04:14-05:00
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ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$250,399
Liabilities
$6,087
Net assets
$244,312
Revenue
$262,173
Expenses
$157,022
Net income
$105,151
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.73$0.27$8.47$4.81$5.33$0.52
2023Detailed filing. Detailed filing data is available for this year.$8.53$0.25$8.28$5.27$4.69$0.58
2022Detailed filing. Detailed filing data is available for this year.$7.69$0.28$7.41$5.11$3.92$1.19
2021Detailed filing. Detailed filing data is available for this year.$7.53$0.25$7.28$5.34$2.99$2.34
2020Detailed filing. Detailed filing data is available for this year.$4.98$0.63$4.35$3.69$2.12$1.57
2019Detailed filing. Detailed filing data is available for this year.$2.50$0.06$2.44$2.62$1.57$1.05
2018Detailed filing. Detailed filing data is available for this year.$1.03$0.03$1.01$1.07$0.07$1.00