Civic Intelligence

Brighter Horizon Foundation

990 • Fiscal year 2021 • EIN 83-0995509

Jan 01, 2021 to Dec 31, 2021 • Filed on Mar 21, 2022

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

53rd percentile

0.03x

Higher debt load relative to assets than 53% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

56th percentile

0.05x

Higher debt load relative to revenue than 56% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

83rd percentile

44%

Higher net margin than 83% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

52nd percentile

$0

Higher top officer pay than 52% of similar nonprofits.

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

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

83rd percentile

51%

Faster asset growth than 83% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

72nd percentile

45%

Faster revenue growth than 72% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets53rd percentile

Assets

Up

$753,172

Up $255,574 (+51%) from 2020

Net Assets

Up

$727,762

Up $292,990 (+67%) from 2020

Liabilities

Down

$25,410

Down $37,416 (-60%) from 2020

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin83rd percentile

Revenue

Up

$533,590

Up $164,639 (+45%) from 2020

Expenses

Up

$299,120

Up $86,725 (+41%) from 2020

Net Income

Up

$234,470

Up $77,914 (+50%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth83rd 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

2021

Assets$753,172
Liabilities$25,410
Net Assets$727,762
Open 2021 Filing

Operations Trend

Revenue Growth72nd 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

2021

Revenue$533,590
Expenses$299,120
Net Income$234,470
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Mar 21, 2022
Return Version
2021v4.0
Gross Receipts
$580,463
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$331,549$466,742▲ $135,193
Cash and Non-Interest-Bearing Accounts$165,351$213,960▲ $48,609
Pledges and Grants Receivable-$71,772-
Prepaid Expenses and Deferred Charges$698$698→ $0
Total Assets$497,598$753,172▲ $255,574
Liabilities
Accounts Payable and Accrued Expenses$62,826$25,410▼ $37,416
Total Liabilities$62,826$25,410▼ $37,416
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$413,382$634,324▲ $220,942
Net Assets With Donor Restrictions$21,390$93,438▲ $72,048
Total Net Assets Fund Balance$434,772$727,762▲ $292,990
Total Liabilities and Net Assets / Fund Balance$497,598$753,172▲ $255,574
Compensation and Service Providers
Top Officer Pay52nd percentile

Board Members and Trustees

NameTitle
Alana W RobinsonChair
Yvette D BrightPresident
Alan KrigsteinVice Chair
Charlton MonsantoDirector
Dr Levi ThompsonDirector
Dr Robbin SmartDirector
Joel CatindigDirector
KY'A JACKSONDirector
Lisa SantareDirector
Megan VeselyDirector
Michael VenneraDirector
Stephan RokerDirector
Terry BookerDirector
William HaggettDirector
Michele MillerSecretary
Richard Lauro CPATreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$573,043
Program Service Revenue
$0
Investment Income
$5,881
Other Revenue
$-45,334
All Other Contributions
$424,532
Change in Net Assets
$234,470

Audited Revenue Reconciliation

Revenue per Audited Statements
$529,863
Revenue Not Reported on Financial Statements
$3,727
Revenue Not Reported on Form 990
$58,520
Total Revenue per Audited Statements
$588,383
Total Revenue per Form 990
$533,590
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$203,832
Grants and Similar Amounts Paid$95,288
Total Fundraising Expense$44,158
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$95,288--$95,288
Fees for Services Other$230$12,349$34,200$46,779
Information Technology$23,579$2,521-$26,100
Office Expenses-$22,733$2,945$25,678
Travel$12,546--$12,546
Fees for Services Accounting-$9,068-$9,068
Advertising--$7,013$7,013
All Other Expenses$1,059$4,020-$5,079
Fees for Services Legal-$4,275-$4,275
Other Expenses$3,829$4,423-$3,829
Fees for Service Investment Mgmnt Fees-$3,727-$3,727
Insurance-$698-$698
Total Functional Expenses$187,261$67,701$44,158$299,120

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$299,120
Expenses per Audited Statements$295,393
Total Expenses per Audited Statements$295,393
Expenses Not Reported on Financial Statements$3,727
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$46,873
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
College Reveal$148,511-$46,873-
Total Events$148,511-$46,873$-46,873
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
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
2022-03-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Yvette D Bright
Formed
2018
Legal Domicile
Pa
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
52

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 230 2,349 0 consulting 0 0 34,200 other 0 10,000 0 total 230 12,349 34,200”

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/ExplanationTxt0THE 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.
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 230 2,349 0 CONSULTING 0 0 34,200 OTHER 0 10,000 0 TOTAL 230 12,349 34,200
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$753,172
Liabilities
$25,410
Net assets
$727,762
Revenue
$533,590
Expenses
$299,120
Net income
$234,470
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