Civic Intelligence

Brighter Horizon Foundation

990 • Fiscal year 2020 • EIN 83-0995509

Jan 01, 2020 to Dec 31, 2020 • Filed on Mar 23, 2021

Organization ProfileBRIGHTERHORIZONFOUNDATION.ORG
739 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

77th percentile

0.13x

Higher debt load relative to assets than 77% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

82nd percentile

0.17x

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

85th percentile

42%

Higher net margin than 85% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

88th percentile

99%

Faster asset growth than 88% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

86th percentile

41%

Faster revenue growth than 86% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$497,598

Up $247,199 (+99%) from 2019

Net Assets

Up

$434,772

Up $190,460 (+78%) from 2019

Liabilities

Up

$62,826

Up $56,739 (+932%) from 2019

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin85th percentile

Revenue

Up

$368,951

Up $106,778 (+41%) from 2019

Expenses

Up

$212,395

Up $55,373 (+35%) from 2019

Net Income

Up

$156,556

Up $51,405 (+49%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth88th 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

2020

Assets$497,598
Liabilities$62,826
Net Assets$434,772
Open 2020 Filing

Operations Trend

Revenue Growth86th 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

2020

Revenue$368,951
Expenses$212,395
Net Income$156,556
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Mar 23, 2021
Return Version
2020v4.0
Gross Receipts
$368,951
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$219,730$331,549▲ $111,819
Cash and Non-Interest-Bearing Accounts$27,121$165,351▲ $138,230
Prepaid Expenses and Deferred Charges$3,548$698▼ $2,850
Total Assets$250,399$497,598▲ $247,199
Liabilities
Accounts Payable and Accrued Expenses$6,087$62,826▲ $56,739
Total Liabilities$6,087$62,826▲ $56,739
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$244,312$413,382▲ $169,070
Net Assets With Donor Restrictions-$21,390-
Total Net Assets Fund Balance$244,312$434,772▲ $190,460
Total Liabilities and Net Assets / Fund Balance$250,399$497,598▲ $247,199
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Alana W RobinsonChairperson
Yvette D BrightPresident
Alan KrigsteinVice Chairpe
Dr Robbin SmartDirector
Lisa SantareDirector
Michael VenneraDirector
Stephan RokerDirector
William HaggettDirector
Terry BookerFundraising
Alison S WoodsProgram Chai
Michele MillerSecretary
Richard Lauro CPATreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$363,848
Program Service Revenue
$0
Investment Income
$4,538
Other Revenue
$565
All Other Contributions
$363,848
Change in Net Assets
$156,556

Audited Revenue Reconciliation

Revenue per Audited Statements
$366,515
Revenue Not Reported on Financial Statements
$2,436
Revenue Not Reported on Form 990
$33,904
Total Revenue per Audited Statements
$400,419
Total Revenue per Form 990
$368,951
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$119,974
Grants and Similar Amounts Paid$92,421
Total Fundraising Expense$45,418
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$92,421--$92,421
Fees for Services Other$20$2,693$33,013$35,726
Office Expenses-$11,794$1,227$13,021
Fees for Services Accounting-$10,816-$10,816
Advertising--$5,124$5,124
Fees for Services Legal-$4,525-$4,525
Information Technology$4,430--$4,430
Other Expenses$943$1,637$5,904$2,580
Fees for Service Investment Mgmnt Fees-$2,436-$2,436
All Other Expenses$1,629$446-$2,075
Insurance-$698-$698
Travel$692--$692
Total Functional Expenses$121,959$45,018$45,418$212,395

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$212,395
Expenses per Audited Statements$209,959
Total Expenses per Audited Statements$209,959
Expenses Not Reported on Financial Statements$2,436
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 WESTVIEW STREET, PHILADELPHIA, PA 19119

Signing Officer

Name
Yvette D Bright
Title
President
Phone
2679901920
Signed
2021-03-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Yvette D Bright
Formed
2018
Legal Domicile
Pa
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
33

Preparer

Firm
O'CONNELL & COMPANY LLC
Address
165 TOWNSHIP LINE RD STE 1100, JENKINTOWN, PA 19046
Preparer
John W Rutecki CPA
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.”

Form 990, Part IX, Line 11G

“Bank and other fees 20 1,857 0 consulting 0 0 31,857 other 0 836 1,156 total 20 2,693 33,013”

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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IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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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/ExplanationTxt4BANK AND OTHER FEES 20 1,857 0 CONSULTING 0 0 31,857 OTHER 0 836 1,156 TOTAL 20 2,693 33,013
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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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$497,598
Liabilities
$62,826
Net assets
$434,772
Revenue
$368,951
Expenses
$212,395
Net income
$156,556
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