Civic Intelligence

Future Fund for Education Inc.

990 • Fiscal year 2020 • EIN 83-3955565

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

Organization ProfileFUTUREFUNDFOREDUCATION.ORG
645 Madison Avenue No 20 FLNew York, NY 10022

(212) 758-5822

Siviq Scores

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

Liabilities / Assets

84th percentile

0.04x

Higher debt load relative to assets than 84% of similar nonprofits.

2020 filings • NTEE B12 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

78th percentile

0.01x

Higher debt load relative to revenue than 78% of similar nonprofits.

2020 filings • NTEE B12 • <$500k nonprofits • Source year 2020

Net Margin

73rd percentile

32%

Higher net margin than 73% of similar nonprofits.

2020 filings • NTEE B12 • <$500k nonprofits • Source year 2020

Top Officer Pay

93rd percentile

$0

Higher top officer pay than 93% of similar nonprofits.

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

2020 filings • NTEE B12 • <$500k nonprofits • Source year 2020

Asset Growth

97th percentile

446%

Faster asset growth than 97% of similar nonprofits.

2020 filings • NTEE B12 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

93rd percentile

135%

Faster revenue growth than 93% of similar nonprofits.

2020 filings • NTEE B12 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets84th percentile

Assets

Up

$191,877

Up $156,727 (+446%) from 2019

Net Assets

Up

$184,994

Up $151,715 (+456%) from 2019

Liabilities

Up

$6,883

Up $5,012 (+268%) from 2019

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin73rd percentile

Revenue

Up

$471,276

Up $270,749 (+135%) from 2019

Expenses

Up

$319,561

Up $152,313 (+91%) from 2019

Net Income

Up

$151,715

Up $118,436 (+356%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$400K$300K$200K$100K$0Assets 2019: $35,150Liabilities 2019: $1,871Net Assets 2019: $33,2792019Assets 2020: $191,877Liabilities 2020: $6,883Net Assets 2020: $184,9942020Assets 2021: $323,055Liabilities 2021: $487Net Assets 2021: $322,5682021Assets 2022: $76,878Liabilities 2022: $767Net Assets 2022: $76,1112022Assets 2023: $3,301Liabilities 2023: $140Net Assets 2023: $3,1612023

Highlighted filing

2020

Assets$191,877
Liabilities$6,883
Net Assets$184,994
Open 2020 Filing

Operations Trend

Revenue Growth93rd percentile

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

$600K$400K$200K$0-$200KRevenue 2019: $200,527Expenses 2019: $167,248Net Income 2019: $33,2792019Revenue 2020: $471,276Expenses 2020: $319,561Net Income 2020: $151,7152020Revenue 2021: $160,064Expenses 2021: $304,604Net Income 2021: -$144,5402021Revenue 2022: $43,351Expenses 2022: $33,633Net Income 2022: $9,7182022Revenue 2023: $22,021Expenses 2023: $30,687Net Income 2023: -$8,6662023

Highlighted filing

2020

Revenue$471,276
Expenses$319,561
Net Income$151,715
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.1
Gross Receipts
$471,276
Mission and Program Overview

Mission

To financially support entrepreneurs who are transforming education across the african continent.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$33,279$184,994▲ $151,715
Investments Other Securities-$159,732-
Cash and Non-Interest-Bearing Accounts$35,150$30,897▼ $4,253
Other Notes and Loans Receivable, Net-$1,248-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$35,150$191,877▲ $156,727
Liabilities
Accounts Payable and Accrued Expenses$1,871$6,883▲ $5,012
Total Liabilities$1,871$6,883▲ $5,012
Net Assets / Fund Balance
Total Net Assets Fund Balance$33,279$184,994▲ $151,715
Total Liabilities and Net Assets / Fund Balance$35,150$191,877▲ $156,727

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$159,732--
Compensation and Service Providers
Top Officer Pay93rd percentile

Board Members and Trustees

NameTitle
Matthew S TierneyPresident & Treasury
Paul E TierneyVice President
Patricia E TierneyVice President & Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$471,691
Program Service Revenue
$0
Investment Income
$326
Other Revenue
$-741
All Other Contributions
$471,691
Change in Net Assets
$151,715
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$175,000
Salaries, Compensation, and Employee Benefits$78,437
Other Expenses$66,124
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$175,000--$175,000
Other Salaries and Wages$60,000$15,000-$75,000
Travel$18,542--$18,542
Fees for Services Legal-$13,294-$13,294
Fees for Services Management-$9,825-$9,825
Fees for Services Accounting-$6,949-$6,949
Fees for Services Other$5,400$1,350-$6,750
Insurance-$6,101-$6,101
Other Employee Benefits$2,265$566-$2,831
Office Expenses$1,130$282-$1,412
Conferences and Meetings$1,208--$1,208
Other Expenses-$785-$785
Payroll Taxes$485$121-$606
Total Functional Expenses$264,030$55,531$0$319,561
International Activity

International Summary

Offices
0
Employees
0
Spending
$295,103

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Sub-saharan AfricaGrantmaking-00$295,103
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
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, Part VI, Section A, Line 2

“Paul e. Tierney is matthew tierney and patricia tierney's father”

Form 990, Part VI, Section B, Line 11B

“UPON REQUEST”

Form 990, Part VI, Section B, Line 12C

“Organization's conflist of interest policy was created in 2019. The policy is applicable to all directors, officers and key employees. At the beginning of each year, all such persons are asked to sign a statement affirming that the individual has received a copy of the conflict of interest policy and has read and understands the policy. Any potential conflicts are reported to the board of directors. The policy demands that all potential conflicts are reported and addressed by the board. If a conflict exists, it is addressed in an appropriate manner consistent with the policy. The policy provides that interested persons may not participate when a potential conflict is determined nor be present for the approval of any transaction of business involving the interested party.”

Form 990, Part VI, Section B, Line 15A

“At present, the charity has not retained any independent contractors that receive or will receive compensation of more than $50,000 per year. The charity anticipates that it may retain various contractors to assist it with the development of its website, fundraising, and similar routine services, as well as program consultants to help it with its grantmaking and other charitable programs. When selecting its independent contractors, the charity's directors and officers will comply with the terms of the charity's conflict of interest policy, a copy of which is attached in exhibit c, and negotiate arms-length agreements that are fair and reasonable and do not result in any private inurement or private benefit to third parties.”

Form 990, Part VI, Section C, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Future Fund for Education Inc
EIN
83-3955565
Phone
2127585822
Address
645 MADISON AVENUE NO 20 FL, NEW YORK, NY 10022

Signing Officer

Name
Matthew S Tierney
Title
President
Phone
2127585822
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew S Tierney
Formed
2019
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
SPRITZER KAUFMAN LLP CPA'S
Address
19 WEST 44 STREET, NEW YORK, NY 10036
Preparer
Sandra G Kaufman
Phone
2125931040
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt2CREATIVE EDUCATIONAL SOLUTIONS
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt3EXPANDING EDUCATIONAL OUTREACH
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt4EDUCATIONAL SUPPORT
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt5GENERAL SUPPORT
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IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0FUTURE FUND FOR EDUCATION MONITORS THE USE OF ITS GRANTS AND ASSISTANCE UTILIZING SEVERAL CONTROLS. AFTER THE AWARD IS GRANTED, THE EXECUTIVE DIRECTOR MAKES SITE VISITS AND CONDUCTS UPDATE CALLS TO MONITOR THE PROGRESS OF THE GRANTS. IN ADDITION, ANNUAL DONOR REPORTS ARE REQUIRED BY THE GRANTEES INCLUDING A FINANCIAL NARRATIVE DETAILING HOW THE FUNDS WERE SPEND AND ANY REMAINING BALANCE. ANY FOLLOW-ON FUNDING WILL NOT BE DISBURSED WITHOUT AN APPROVED REPORT ACCEPTED BY THE BOARD.
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IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc1PART III ACCOUNTING METHOD:
IRS990ScheduleF/Total501c3OrgCnt06
IRS990ScheduleF/TotalEmployeeCnt00
IRS990ScheduleF/TotalOfficeCnt00
IRS990ScheduleF/TotalOtherOrgCnt00
IRS990ScheduleF/TotalSpentAmt0295103
IRS990ScheduleF/TransferToForeignCorpInd00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PAUL E. TIERNEY IS MATTHEW TIERNEY AND PATRICIA TIERNEY'S FATHER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZATION'S CONFLIST OF INTEREST POLICY WAS CREATED IN 2019. THE POLICY IS APPLICABLE TO ALL DIRECTORS, OFFICERS AND KEY EMPLOYEES. AT THE BEGINNING OF EACH YEAR, ALL SUCH PERSONS ARE ASKED TO SIGN A STATEMENT AFFIRMING THAT THE INDIVIDUAL HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY AND HAS READ AND UNDERSTANDS THE POLICY. ANY POTENTIAL CONFLICTS ARE REPORTED TO THE BOARD OF DIRECTORS. THE POLICY DEMANDS THAT ALL POTENTIAL CONFLICTS ARE REPORTED AND ADDRESSED BY THE BOARD. IF A CONFLICT EXISTS, IT IS ADDRESSED IN AN APPROPRIATE MANNER CONSISTENT WITH THE POLICY. THE POLICY PROVIDES THAT INTERESTED PERSONS MAY NOT PARTICIPATE WHEN A POTENTIAL CONFLICT IS DETERMINED NOR BE PRESENT FOR THE APPROVAL OF ANY TRANSACTION OF BUSINESS INVOLVING THE INTERESTED PARTY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AT PRESENT, THE CHARITY HAS NOT RETAINED ANY INDEPENDENT CONTRACTORS THAT RECEIVE OR WILL RECEIVE COMPENSATION OF MORE THAN $50,000 PER YEAR. THE CHARITY ANTICIPATES THAT IT MAY RETAIN VARIOUS CONTRACTORS TO ASSIST IT WITH THE DEVELOPMENT OF ITS WEBSITE, FUNDRAISING, AND SIMILAR ROUTINE SERVICES, AS WELL AS PROGRAM CONSULTANTS TO HELP IT WITH ITS GRANTMAKING AND OTHER CHARITABLE PROGRAMS. WHEN SELECTING ITS INDEPENDENT CONTRACTORS, THE CHARITY'S DIRECTORS AND OFFICERS WILL COMPLY WITH THE TERMS OF THE CHARITY'S CONFLICT OF INTEREST POLICY, A COPY OF WHICH IS ATTACHED IN EXHIBIT C, AND NEGOTIATE ARMS-LENGTH AGREEMENTS THAT ARE FAIR AND REASONABLE AND DO NOT RESULT IN ANY PRIVATE INUREMENT OR PRIVATE BENEFIT TO THIRD PARTIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ForeignAddress/AddressLine1Txt0THE MIRAGE TOWER 1 5TH FLOOR
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ForeignAddress/CityNm0WESTLANDS
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ForeignAddress/CountryCd0KE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ForeignAddress/ProvinceOrStateNm0NAIROBI
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileForeignCountryCd0KE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0SUPPORT EDUCATION AFRICA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0MBELE FUND FOR EDUCATION LIMITED
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfEOYAssetsAmt013597
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd01
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0645
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0WIRE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0FUTURE FUND FOR EDUCATION SOUTH AFRICA
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0P
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxableDistributionsInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt035150
IRS990/TotalAssetsEOYAmt0191877
IRS990/TotalAssetsGrp/BOYAmt035150
IRS990/TotalAssetsGrp/EOYAmt0191877
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0471691
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt055531
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0264030
IRS990/TotalFunctionalExpensesGrp/TotalAmt0319561
IRS990/TotalGrossUBIAmt0-415
IRS990/TotalLiabilitiesBOYAmt01871
IRS990/TotalLiabilitiesEOYAmt06883
IRS990/TotalLiabilitiesGrp/BOYAmt01871
IRS990/TotalLiabilitiesGrp/EOYAmt06883
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt033279
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0184994
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0264030
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0471276
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0-415
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt035150
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0191877
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt018542
IRS990/TravelGrp/TotalAmt018542
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0645 MADISON AVENUE NO 20 FL
IRS990/USAddress/CityNm0NEW YORK
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010022
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0FUTUREFUNDFOREDUCATION.ORG
IRS990/WhistleblowerPolicyInd01
ReasonableCauseExplanation/ExplanationTxt0HURRICANE IDA RELIEF
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MATTHEW S TIERNEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02127585822
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FUTURE FUND FOR EDUCATION INC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O MATTHEW S TIERNEY
ReturnHeader/Filer/BusinessNameControlTxt0FUTU
ReturnHeader/Filer/EIN0833955565
ReturnHeader/Filer/PhoneNum02127585822
ReturnHeader/Filer/USAddress/AddressLine1Txt0645 MADISON AVENUE NO 20 FL

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
$191,877
Liabilities
$6,883
Net assets
$184,994
Revenue
$471,276
Expenses
$319,561
Net income
$151,715
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.22$0.31$0.09
2022Detailed filing. Detailed filing data is available for this year.$0.77$0.01$0.76$0.43$0.34$0.10
2021Detailed filing. Detailed filing data is available for this year.$3.23$0.00$3.23$1.60$3.05$1.45
2020Detailed filing. Detailed filing data is available for this year.$1.92$0.07$1.85$4.71$3.20$1.52
2019Detailed filing. Detailed filing data is available for this year.$0.35$0.02$0.33$2.01$1.67$0.33