Civic Intelligence

Bright Future Fund

990 • Fiscal year 2023 • EIN 93-4678619

Dec 04, 2023 to Dec 31, 2023 • Filed on Nov 15, 2024

Organization ProfileBRIGHTFUTUREFUNDSUSA.ORG
1717 N Street NW Suite 1Washington, DC 20036

(202) 381-1198

Siviq Scores

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

Liabilities / Assets

12th percentile

0.00x

Higher debt load relative to assets than 12% of similar nonprofits.

2023 filings • $100M-$250M nonprofits • Source year 2023

Liabilities / Revenue

10th percentile

0.00x

Higher debt load relative to revenue than 10% of similar nonprofits.

2023 filings • $100M-$250M nonprofits • Source year 2023

Net Margin

99th percentile

100%

Higher net margin than 99% of similar nonprofits.

2023 filings • $100M-$250M nonprofits • Source year 2023

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2023 filings • $100M-$250M nonprofits • Source year 2023

Asset Growth

Score unavailable

No value available

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

Source year 2023

Revenue Growth

Score unavailable

No value available

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

Source year 2023

Balance Sheet
Liabilities / Assets12th percentile

Assets

$143,138,664

No earlier filing loaded for comparison.

Net Assets

$143,050,548

No earlier filing loaded for comparison.

Liabilities

$88,116

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue10th percentileNet Margin99th percentile

Revenue

$143,138,664

No earlier filing loaded for comparison.

Expenses

$88,116

No earlier filing loaded for comparison.

Net Income

$143,050,548

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$150M$100M$50M$0Assets 2023: $143,138,664Liabilities 2023: $88,116Net Assets 2023: $143,050,5482023Assets 2024: $1,064,247Liabilities 2024: $24,507Net Assets 2024: $1,039,7402024

Highlighted filing

2023

Assets$143,138,664
Liabilities$88,116
Net Assets$143,050,548
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$200M$100M$0-$100M-$200MRevenue 2023: $143,138,664Expenses 2023: $88,116Net Income 2023: $143,050,5482023Revenue 2024: $40,646,522Expenses 2024: $182,657,235Net Income 2024: -$142,010,7132024

Highlighted filing

2023

Revenue$143,138,664
Expenses$88,116
Net Income$143,050,548
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Dec 4, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.1
Gross Receipts
$143,138,664
Mission and Program Overview

Mission

Bright future fund is dedicated to a brighter future for all americans. Bright future fund supports projects that strengthen the economy, protect reproductive rights, and make america more fair and just.

Bright future fund is dedicated to a brighter future for all americans. Bright future fund supports projects that strenghen the economy, protect reproductive rights, and make america more fair and just.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$143,138,664-
Rtn Earn Endowment Incm Other Fnds$0$143,050,548▲ $143,050,548
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$0$143,138,664▲ $143,138,664
Liabilities
Accounts Payable and Accrued Expenses-$88,116-
Total Liabilities$0$88,116▲ $88,116
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$143,050,548▲ $143,050,548
Total Liabilities and Net Assets / Fund Balance$0$143,138,664▲ $143,138,664
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
Preston ElliottPresident
Kelly WardDirector
Lucinda GuinnTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$142,392,698
Program Service Revenue
$0
Investment Income
$745,966
Other Revenue
$0
All Other Contributions
$142,392,698
Change in Net Assets
$143,050,548

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded2$70,392,698Fair Market Value
Total Noncash Contributions2$70,392,698-

Audited Revenue Reconciliation

Revenue per Audited Statements
$143,138,664
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$143,138,664
Total Revenue per Form 990
$143,138,664
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$88,116
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$72,000$8,000-$80,000
Fees for Services Legal-$8,116-$8,116
Total Functional Expenses$72,000$16,116$0$88,116

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$88,116
Total Expenses per Audited Statements$88,116
Total Expenses per Form 990$88,116
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
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
No
Backup withholding compliance
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The management of certain financial operations has been delegated to verdolino & lowey, p.c.”

Form 990, Part VI, Section A, Line 8B

“The organization does not have any committees.”

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

“Each member of the board of directors are provided with a copy of the form 990 prior to filing with sufficient time to provide comments, if any.”

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

“Directors and officers are required to disclose to counsel any financial interest in which the officer or director has a direct or indirect conflict of interest. Directors and officers are required to sign a conflict of interest policy annually.”

Form 990, Part VI, Section C, Line 18

“The form 990 is available to the public upon request. Copies will be provided immediately in the case of in-person requests during normal business hours providing no unusual circumstances exist. Written, phoned, faxed or e-mailed requests will be honored in accordance with regulation sec. 301.6104(d)-1(d)(2)(ii). The current and two prior years (excluding non-public information) can be requested. We reserve the right to charge a reasonable copying fee plus actual postage.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents is available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Bright Future Fund
EIN
93-4678619
Phone
2023811198
Address
1717 N STREET NW SUITE 1, WASHINGTON, DC 20036

Signing Officer

Name
Preston Elliott
Title
Board Chair
Phone
2023811198
Signed
2024-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Preston Elliott
Formed
2023
Legal Domicile
Dc
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Verdolino & Lowey Pc
Address
124 WASHINGTON ST SUITE 101, FOXBOROUGH, MA 02035
Preparer
Heather Medeiros CPA
Phone
5085431720
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consulting: program service expenses 72,000. Management and general expenses 8,000. Fundraising expenses 0. Total expenses 80,000.”

Raw XML Appendix287 raw XML fields

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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IRS990/ActivityOrMissionDesc0BRIGHT FUTURE FUND IS DEDICATED TO A BRIGHTER FUTURE FOR ALL AMERICANS. BRIGHT FUTURE FUND SUPPORTS PROJECTS THAT STRENGHEN THE ECONOMY, PROTECT REPRODUCTIVE RIGHTS, AND MAKE AMERICA MORE FAIR AND JUST.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MANAGEMENT OF CERTAIN FINANCIAL OPERATIONS HAS BEEN DELEGATED TO VERDOLINO & LOWEY, P.C.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH MEMBER OF THE BOARD OF DIRECTORS ARE PROVIDED WITH A COPY OF THE FORM 990 PRIOR TO FILING WITH SUFFICIENT TIME TO PROVIDE COMMENTS, IF ANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DIRECTORS AND OFFICERS ARE REQUIRED TO DISCLOSE TO COUNSEL ANY FINANCIAL INTEREST IN WHICH THE OFFICER OR DIRECTOR HAS A DIRECT OR INDIRECT CONFLICT OF INTEREST. DIRECTORS AND OFFICERS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST POLICY ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FORM 990 IS AVAILABLE TO THE PUBLIC UPON REQUEST. COPIES WILL BE PROVIDED IMMEDIATELY IN THE CASE OF IN-PERSON REQUESTS DURING NORMAL BUSINESS HOURS PROVIDING NO UNUSUAL CIRCUMSTANCES EXIST. WRITTEN, PHONED, FAXED OR E-MAILED REQUESTS WILL BE HONORED IN ACCORDANCE WITH REGULATION SEC. 301.6104(D)-1(D)(2)(II). THE CURRENT AND TWO PRIOR YEARS (EXCLUDING NON-PUBLIC INFORMATION) CAN BE REQUESTED. WE RESERVE THE RIGHT TO CHARGE A REASONABLE COPYING FEE PLUS ACTUAL POSTAGE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION'S GOVERNING DOCUMENTS IS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CONSULTING: PROGRAM SERVICE EXPENSES 72,000. MANAGEMENT AND GENERAL EXPENSES 8,000. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 80,000.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0124 WASHINGTON ST SUITE 101
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FOXBOROUGH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd002035
ReturnHeader/PreparerPersonGrp/PhoneNum05085431720
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0HEATHER MEDEIROS CPA
ReturnHeader/ReturnTs02024-11-15T16:03:12-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-12-04
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$143,138,664
Liabilities
$88,116
Net assets
$143,050,548
Revenue
$143,138,664
Expenses
$88,116
Net income
$143,050,548
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.06$0.02$1.04$40.6$183$142
2023Detailed filing. Detailed filing data is available for this year.$143$0.09$143$143$0.09$143