2026-07-13T14:53:13-05:00 2025-08-31 331374517 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2024-09-01 205496382 FUTURES IN EDUCATION FUTU 7189657308 243 PROSPECT PARK WEST BROOKLYN NY 11215 JOHN NOTARO EXECUTIVE DIRECTOR 7189657308 2026-07-13 1 1 GARRETT M HIGGINS P00543209 9143818900 2026-07-13 2024 2025-03-06 01:10:19Z JOHN NOTARO 243 PROSPECT PARK WEST BROOKLYN NY 11215 13485117 0 X WWW.FUTURESINEDUCATION.ORG X 2006 NY THE MISSION OF FUTURES IN EDUCATION IS TO ENSURE THAT THE GIFT OF AN EXCELLENT CATHOLIC EDUCATION CONTINUES TO BE A VIABLE OPTION FOR CURRENT AND FUTURE GENERATIONS OF DESERVING STUDENTS IN BROOKLYN AND QUEENS. AS A SCHOLARSHIP GRANTING ORGANIZATION, IT PROVIDES TUITION ASSISTANCE TO THE NEEDIEST OF THOSE STUDENTS, REGARDLESS OF THEIR RELIGIOUS DENOMINATION, THROUGH ENDOWMENT FUNDS AND FUNDRAISING PROGRAMS. 18 18 0 22 0 0 7521733 10345304 0 0 413900 699080 -219971 -174882 7715662 10869502 5763678 6289132 0 0 0 0 1912 3006 381561 1622787 1469518 7388377 7761656 327285 3107846 11991220 16328976 332266 322019 11658954 16006957 X THE MISSION OF FUTURES IN EDUCATION IS TO ENSURE THAT THE GIFT OF AN EXCELLENT CATHOLIC EDUCATION CONTINUES TO BE A VIABLE OPTION FOR CURRENT AND FUTURE GENERATIONS OF DESERVING STUDENTS IN BROOKLYN AND QUEENS. AS A SCHOLARSHIP GRANTING ORGANIZATION, IT PROVIDES TUITION ASSISTANCE TO THE NEEDIEST OF THOSE STUDENTS, REGARDLESS OF THEIR RELIGIOUS DENOMINATION, THROUGH ENDOWMENT FUNDS AND FUNDRAISING PROGRAMS. 0 0 2307726 2307726 0 FUTURES IN EDUCATION SCHOLARSHIP PROGRAM MAKES A QUALITY CATHOLIC EDUCATION AVAILABLE TO AS MANY FAMILIES AS POSSIBLE BY OFFERING PARTIAL SCHOLARSHIPS TO FAMILIES IN FINANCIAL NEED OF TUITION ASSISTANCE FOR STUDENTS IN PRE-K TO 8TH GRADE ENROLLED IN CATHOLIC GRAMMAR SCHOOLS IN BROOKLYN AND QUEENS. IN 2025, THE PROGRAM AWARDED SCHOLARSHIPS TO 1,576 STUDENTS FOR A TOTAL AMOUNT OF $2,307,726. 2112598 2112598 0 TEDDY FORSTMANNIN CONJUNCTION WITH THE CHILDREN'S SCHOLARSHIP FUND (CSF), THE PROGRAM STIMULATES ENROLLMENT OF STUDENTS FROM PUBLIC SCHOOLS INTO CATHOLIC SCHOOLS FOR THOSE FAMILIES WITH FINANCIAL NEED OF TUITION ASSISTANCE IN LINE WITH CSF'S AIM TO MAXIMIZE EDUCATIONAL OPPORTUNITY FOR ALL CHILDREN. IN 2025, THE PROGRAMS AWARDED SCHOLARSHIPS TO 1,555 STUDENTS FOR A TOTAL AMOUNT OF $2,112,598. 1689970 1689970 0 BE AN ANGEL TO A STUDENT PROGRAM A SPONSORSHIP PROGRAM WHERE A DONOR, AN ANGEL, PAYS A PORTION OF THE STUDENT'S TUITION FOR A FAMILY WITH EXTRAORDINARY NEED TO HELP SEND THEIR CHILDREN TO A CATHOLIC SCHOOL THEY LOVE. THE STUDENT SENDS CORRESPONDENCE TO THE ANGEL THROUGHOUT THE SCHOOL YEAR, INCLUDING LETTERS, GREETINGS AND REPORT CARDS. IN 2025, THE PROGRAM AWARDED SCHOLARSHIPS TO 720 STUDENTS FOR A TOTAL AMOUNT OF $1,689,970. 721421 178838 0 OTHER NEEDS-BASED SCHOLARSHIPSFUTURES IN EDUCATION PROVIDES ADDITIONAL SCHOLARSHIPS TO HIGH SCHOOL STUDENTS AND OTHER STUDENTS IN FINANCIAL NEED THAT DO NOT FALL INTO THE CATEGORIES OF THE THREE PROGRAMS LISTED ABOVE. 721421 178838 0 6831715 1 1 0 0 0 0 0 0 1 1 0 1 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 2 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 18 18 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X X JOHN NOTARO 7189657308 243 PROSPECT PARK WEST BROOKLYN NY 11215 X MS VERONICA TSANG CHAIRPERSON 2.00 X X 0 0 0 MR MARTIN COTTINGHAM VICE CHAIRPERSON 2.00 X X 0 0 0 REVEREND KEVIN P ABELS TRUSTEE 2.00 X 0 0 0 MRS JULIA MATTONE BELLOW TRUSTEE 2.00 X 0 0 0 BISHOP ROBERT J BRENNAN TRUSTEE 2.00 X 0 0 0 MR ROBERT B CATELL TRUSTEE 2.00 X 0 0 0 REV MSGR DAVID L CASSATO TRUSTEE THRU OCT 2024 2.00 X 0 0 0 MRS REGINA DEDICK TRUSTEE 2.00 X 0 0 0 MR JOHN G DUANE TRUSTEE 2.00 X 0 0 0 MR THOMAS FLOOD TRUSTEE 2.00 X 0 0 0 MR CHRISTIAN GARCIA TRUSTEE THRU OCT 2024 2.00 X 0 0 0 MR WILLIAM J HOGAN TRUSTEE 2.00 X 0 0 0 MR WILLAIM MAIER TRUSTEE THRU DEC 2024 2.00 X 0 0 0 DEACON KEVIN MCCORMACK TRUSTEE 2.00 X 0 0 0 MRS DONNA MURPHY TRUSTEE THRU MAR 2025 2.00 X 0 0 0 MRS ANA OLIVEIRA TRUSTEE 2.00 X 0 0 0 MR LESTER J OWENS TRUSTEE 2.00 X 0 0 0 MRS ROSEANN PARADISO FODERA ESQ. TRUSTEE 2.00 X 0 0 0 MR CARMINE RUBINO TRUSTEE 2.00 X 0 0 0 MR JOSEPH SCIAME TRUSTEE 2.00 X 0 0 0 MR CARLO A SCISSURA ESQ TRUSTEE 2.00 X 0 0 0 MR STEVEN STELLA TRUSTEE 2.00 X 0 0 0 MR JOHN NOTARO EXECUTIVE DIRECTOR 14.00 X 0 0 0 MRS AIDA TORRES SECRETARY 0.80 X 0 0 0 MRS NICOLE STEINWEISS TREASURER 2.00 X 0 0 0 0 0 0 0 0 0 0 0 1324175 54714 8966415 221885 10345304 273056 273056 2583460 2157436 426024 426024 426024 273900 1324175 458179 -184279 -184279 MISCELLANEOUS INCOME 900099 9397 9397 9397 10869502 0 0 524198 178839 178839 6110293 6110293 953793 390859 244393 318541 70640 70640 3006 3006 69606 69606 8733 8733 36050 36050 128598 70200 32984 25414 71666 12110 59245 311 45201 19045 10968 15188 7531 78 27 7426 15037 4889 1720 8428 41897 41897 REPAIRS & MAINTENANCE 16642 5228 8167 3247 MISCELLANEOUS EXPENSE 4124 4124 7761656 6831715 548380 381561 911133 105829 1804844 3139896 1810474 3729191 91033 139249 6531795 7028075 819136 2170998 22805 15738 11991220 16328976 47241 129239 0 15000 36100 19750 22805 15738 226120 142292 332266 322019 X 1230303 1609064 10428651 14397893 11658954 16006957 11991220 16328976 X 3107846 142334 1101211 -3388 X 0 1 X 1 0 X 8152581 8019512 9508748 7267694 10345304 43293839 8152581 8019512 9508748 7267694 10345304 43293839 18098856 25194983 148145 208482 193076 265314 273057 1088074 165523 0 0 0 0 165523 95616 23553 64672 9397 193238 44740674 0.56310 0.57030 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: REIMBURSEMENTS FROM CAP PROGRAM - 2020 AMOUNT: $ 76,096. 2021 AMOUNT: $ 23,527. MISCELLANEOUS INCOME - 2020 AMOUNT: $ 19,520. 2021 AMOUNT: $ 26. 2022 AMOUNT: $ 64,672. 2024 AMOUNT: $ 9,397. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 4987959 16054 484143 179053 5309103 4465266 695802 173109 4987959 4406192 228225 169151 4465266 5122648 -558324 158132 4406192 4671390 597228 145970 5122648 0.00000 1.00000 0.00000 0 0 0 INTEREST IN NET ASSETS OF CATHOLIC FOUNDATION FOR BROOKLYN & QUEENS 2170998 F 2170998 DUE TO CATHOLIC FOUNDATION FOR BROOKLYN & QUEENS 142292 142292 X 11188757 142334 250651 392985 10795772 69606 4124 73730 10869502 7941965 254039 254039 7687926 69606 4124 73730 7761656 PART IV, LINE 2B: FUNDS HELD AS AGENCY ENDOWMENTS INCLUDE CONTRIBUTIONS GIVEN BY INDIVIDUALS FOR OTHER ORGANIZATIONS THAT ARE HELD BY FUTURES ON BEHALF OF THOSE ORGANIZATIONS. PART V, LINE 4: THE PURPOSE OF THE ORGANIZATION'S ENDOWMENT FUNDS ARE TO PROVIDE FUNDING FOR EDUCATIONAL SCHOLARSHIPS IN THE FORM OF TUITION ASSISTANCE FOR THOSE IN NEED. PART X, LINE 2: FUTURES RECOGNIZES THE EFFECT OF TAX POSITIONS ONLY WHEN THEY ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT FUTURES HAD NO UNCERTAIN TAX POSITIONS THAT THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. FUTURES IS NO LONGER SUBJECT TO TAX EXAMINATIONS FOR FISCAL PERIODS PRIOR TO 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN INTEREST IN NET ASSETS OF CATHOLIC FOUNDATION REPORTED IN PART XI 250,651. PART XI, LINE 4B - OTHER ADJUSTMENTS: MISCELLANEOUS INCOME NETTED WITH REVENUE ON PART IX 4,124. PART XII, LINE 2D - OTHER ADJUSTMENTS: WRITE-OFF OF UNCOLLECTIBLE PLEDGE REPORTED IN PART XI 254,039. PART XII, LINE 4B - OTHER ADJUSTMENTS: MISCELLANEOUS INCOME NETTED WITH REVENUE ON PART IX 4,124. ANNUAL DINNER 1497235 1259335 237900 261658 155367 GOLF EVENT 100840 64840 36000 35396 5758 1598075 1324175 273900 297054 161125 458179 -184279 1 CATHEDRAL PREP HIGH SCHOOL 56-25 92ND STREET ELMHURST NY 11373 112138745 501(C)(3) 55000 0 EDUCATIONAL SCHOLARSHIPS ST JOHN'S UNIVERSITY 8000 UTOPIA PARKWAY JAMAICA NY 11439 111630830 501(C)(3) 20000 0 EDUCATIONAL SCHOLARSHIPS BAY RIDGE CATHOLIC ACADEMY 365 83RD STREET BROOKLYN NY 11209 462219817 501(C)(3) 15000 0 EDUCATIONAL SCHOLARSHIPS ST FRANCIS COLLEGE 179 LIVINGSTON STREET BROOKLYN NY 11201 111635105 501(C)(3) 5333 0 EDUCATIONAL SCHOLARSHIPS 4 0 SCHOLARSHIPS TO FAMILIES IN FINANCIAL NEED OF TUITION ASSISTANCE. 3131 4420323 SPONSORSHIP PROGRAM WHERE A DONOR PAYS A PORTION OF THE STUDENT'S TUITION. 720 1689970 PART I, LINE 2: FOR ALL SCHOLARSHIP PROGRAMS, FAMILIES COMPLETE A FINANCIAL AID APPLICATION TO DETERMINE ELIGIBILITY. THESE APPLICATIONS ARE PROCESSED BY A THIRD-PARTY VENDOR, FACTS, WHO ASSESSES FINANCIAL NEED BASED ON HOUSEHOLD INCOME AND SIZE. THE RESULTS ARE STORED IN A DATABASE AND TWICE A YEAR, ATTENDANCE OF STUDENTS IS VERIFIED BEFORE SUBMISSION OF PAYMENTS. X 5 221885 AVG. SELLING PRICE 0 0 0 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTORS IN PART I, COLUMN (B). FORM 990, PART VI, SECTION A, LINE 3 FUTURES IN EDUCATION DELEGATED CONTROL OVER MANAGEMENT DUTIES TO CATHOLIC FOUNDATION FOR BROOKLYN AND QUEENS THROUGH A MANAGEMENT SERVICES AGREEMENT. UNDER THE AGREEMENT, CATHOLIC FOUNDATION FOR BROOKLYN AND QUEENS HAS MANAGEMENT CONTROL OVER EXECUTIVE REPORTING, ORGANIZATION MANAGEMENT, FUNDRAISING AND DEVELOPMENT, BUDGETS AND ACCOUNTING, EVENTS, AND VENDOR AND CONTRACT MANAGEMENT. FOR THE TAX YEAR ENDING AUGUST 31, 2025, FUTURES IN EDUCATION PAID CATHOLIC FOUNDATION FOR BROOKLYN AND QUEENS $953,793 FOR MANAGEMENT SERVICES. JOHN NOTARO, EXECUTIVE DIRECTOR, AND AIDA TORRES, SECRETARY, ARE COMPENSATED BY CATHOLIC FOUNDATION FOR BROOKLYN AND QUEENS. FUTURES IN EDUCATION REIMBURSED CATHOLIC FOUNDATION FOR BROOKLYN AND QUEENS FOR THEIR COMPENSATION IN ACCORDANCE WITH THE MANAGEMENT SERVICES AGREEMENT IN PLACE. TOTAL COMPENSATION (SALARY PLUS DEFERRED COMPENSATION, MEDICAL, AND OTHER BENEFITS) PAID FOR JOHN NOTARO'S SERVICES AMOUNTED TO $102,571 IN 2024. TOTAL COMPENSATION (SALARY PLUS DEFERRED COMPENSATION, MEDICAL, AND OTHER BENEFITS) PAID FOR SERVICES PROVIDED BY AIDA TORRES WAS $73,454 IN 2024. FORM 990, PART VI, SECTION B, LINE 11B FUTURES IN EDUCATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS ELECTRONICALLY SENT TO THE BOARD MEMBERS OF THE ORGANIZATION FOR ANY COMMENTS. ANY COMMENTS ARE PROVIDED TO THE OUTSIDE ACCOUNTANTS AND ADDRESSED, AFTER WHICH THE RETURN IS FINALIZED AND APPROVED FOR FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY APPLICABLE TO TRUSTEES, PRINCIPAL OFFICERS, AND MEMBERS OF ANY COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST. THE POLICY IS REVIEWED ON AN ANNUAL BASIS AND EACH TRUSTEE MUST SIGN A STATEMENT AFFIRMING THAT HE/SHE IS AWARE OF AND UNDERSTANDS THE POLICY. UPON DISCLOSURE OF A POTENTIAL CONFLICT OF INTEREST, AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE GOVERNING BOARD OR COMMITTEE, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. THE CHAIRPERSON OF THE GOVERNING BOARD OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE CORPORATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE BOARD SHALL DETERMINE WHETHER THE TRANSACTION OR ARRANGEMENT IS IN OWN BENEFIT, AND THE CORPORATION'S BEST INTEREST, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION, IT SHALL MAKE ITS DECISION BY MAJORITY VOTE AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FORM 990 IS AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. IT IS POSTED ON THE GUIDESTAR.ORG WEBSITE AND OTHER SIMILAR WEBSITES. THE ORGANIZATION'S FORM 990, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN INTEREST IN NET ASSETS OF CATHOLIC FND. FOR BROOKLYN & QUEENS 250,651. WRITE-OFF OF UNCOLLECTIBLE PLEDGES -254,039.