FUTURES IN EDUCATION: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- FUTURES IN EDUCATION (EIN 20-5496382)
- Tax period
- 2010-07-01 to 2011-06-30
- Filed
- 2012-05-14
- IRS object ID
- 201221359349304287
- Schema version
- 2010v3.4
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2012-05-14T14:06:59-05:00 | Timestamp |
| Tax Period End Date | 2011-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | O'CONNOR DAVIES MUNNS & DOBBINS LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 500 MAMARONECK AVENUE | AddressLine1 |
| City | HARRISON | City |
| State | NY | State |
| ZIP Code | 105281633 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 205496382 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FUTURES IN EDUCATION ENDOWMENT | BusinessNameLine1 |
| Business Name Line2 | FUND FOR BROOKLYN & QUEENS | BusinessNameLine2 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | FUTU | NameControl |
| Phone | 7189657308 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 310 PROSPECT PARK WEST | AddressLine1 |
| City | BROOKLYN | City |
| State | NY | State |
| ZIP Code | 11215 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | JOHN NOTARO | Name |
| Title | ACTING EXECUTIVE DIRECTOR | Title |
| Phone | 7189657308 | Phone |
| Date Signed | 2012-05-10 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | GARRETT HIGGINS | Name |
| Phone | 9143818900 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | JOHN NOTARO | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 310 PROSPECT PARK WEST | AddressLine1 |
| City | BROOKLYN | City |
| State | NY | State |
| ZIP Code | 11215 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 1070135 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.FIEEF.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 2006 | YearFormation |
| State Legal Domicile | NY | StateLegalDomicile |
| Activity Or Mission Description | THE MISSION OF THE ENDOWMENT FUND IS TO ENSURE THAT THE GIFT OF AN EXCELLENT EDUCATION CONTINUES TO BE A VIABLE OPTION FOR FUTURE GENERATIONS OF STUDENTS IN BROOKLYN AND QUEENS BY PROVIDING SUPPLEMENTAL FUNDING FOR TUITION ASSISTANCE, PROGRAM SUPPORT AND CAPITAL PROJECTS TO THE NEEDIEST CATHOLIC ELEMENTARY AND SECONDARY STUDENTS AND SCHOOLS IN THESE TWO BOROUGHS.THE VISION OF THE FUTURES IN EDUCATION ENDOWMENT FUND IS TO ENSURE THAT ANY STUDENT IN BROOKLYN OR QUEENS WHO WANTS TO OBTAIN A QUALITY, FAITH-BASED EDUCATION IN THE CATHOLIC TRADITION, WILL BE ABLE TO DO SO, REGARDLESS OF HIS OR HER FAMILY'S INCOME, RACE, RELIGION, OR BACKGROUND, BY KEEPING THE SCHOOLS AVAILABLE AND AFFORDABLE TO FAMILIES IN THE DIOCESE. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 21 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 21 | NbrIndependentVotingMembers |
| Total Nbr Employees | 2 | TotalNbrEmployees |
| Total Nbr Volunteers | 24 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 378596 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 1049549 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 0 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 0 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 30312 | InvestmentIncomePriorYear |
| Investment Income Current Year | 20586 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 408908 | TotalRevenuePriorYear |
| Total Revenue Current Year | 1070135 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 650000 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 411500 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 267110 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 239987 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 105000 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 76612 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 121221 | OtherExpensePriorYear |
| Other Expenses Current Year | 110764 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 1143331 | TotalExpensesPriorYear |
| Total Expenses Current Year | 762251 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -734423 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 307884 | RevenuesLessExpensesCY |
| Total Assets BOY | 5505136 | TotalAssetsBOY |
| Total Assets EOY | 5831004 | TotalAssetsEOY |
| Total Liabilities BOY | 15420 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 33404 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 5489716 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 5797600 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | THE MISSION OF THE FUTURES IN EDUCATION ENDOWMENT FUND IS TO ENSURE THAT THE GIFT OF AN EXCELLENT EDUCATION CONTINUES TO BE A VIABLE OPTION FOR FUTURE GENERATIONS OF STUDENTS IN BROOKLYN AND QUEENS BY PROVIDING SUPPLEMENTAL FUNDING FOR TUITION ASSISTANCE, PROGRAM SUPPORT AND CAPITAL PROJECTS TO THE NEEDIEST CATHOLIC ELEMENTARY AND SECONDARY STUDENTS AND SCHOOLS IN THESE TWO BOROUGHS.THE VISION OF THE FUTURES IN EDUCATION ENDOWMENT FUND IS TO ENSURE THAT ANY STUDENT IN BROOKLYN OR QUEENS WHO WANTS TO OBTAIN A QUALITY, FAITH-BASED EDUCATION IN THE CATHOLIC TRADITION, WILL BE ABLE TO DO SO, REGARDLESS OF HIS OR HER FAMILY'S INCOME, RACE, RELIGION, OR BACKGROUND, BY KEEPING THE SCHOOLS AVAILABLE AND AFFORDABLE TO FAMILIES IN THE DIOCESE. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 411500 | Expense |
| Grants | 411500 | Grants |
| Description | ALTHOUGH THE FUTURES IN EDUCATION ENDOWMENT FUND WAS CREATED AS RECENTLY AS 2006, IT HAS ALREADY BEEN ABLE TO HELP MORE THAN 800 STUDENTS WITH LIFE-CHANGING SCHOLARSHIPS. SINCE ITS FORMATION, THE ENDOWMENT FUND HAS DISTRIBUTED $1.6 MILLION FOR SCHOLARSHIPS FOR STUDENTS ATTENDING PAROCHIAL SCHOOLS IN BROOKLYN AND QUEENS. THROUGH ITS PARTNERSHIP WITH OTHER FOUNDATIONS, THESE SCHOLARSHIP FUNDS WERE MATCHED AT 50%, FOR A TOTAL IMPACT OF $2.4 MILLION.FOR THE CURRENT SCHOOL YEAR, $600,000 IN SCHOLARSHIPS WERE PROVIDED TO MORE THAN 300 STUDENTS. | Description |
| Total Program Service Expense | 411500 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 1 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 0 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 0 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 1 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 2 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 2 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 21 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 21 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 1 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | NY | StatesWhereCopyOfReturnIsFiled |
| Other Website | X | OtherWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JOHN NOTARO | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 7189657308 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 310 PROSPECT PARK WEST | AddressLine1 |
| City | BROOKLYN | City |
| State | NY | State |
| ZIP Code | 11215 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (26 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer |
|---|---|---|---|---|---|---|
| MOST REV NICHOLAS DIMARZIO | ||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |
| ROBERT CATELL | ||||||
| CHAIRMAN | 2.00 | X | 0 | 0 | 0 | X |
| BRENDAN DUGAN | ||||||
| TREASURER | 2.00 | X | 0 | 0 | 0 | X |
| ROBERT GARTLAND | ||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |
| DR FRANK MACCHIAROLA | ||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |
| THOMAS MCINERNEY SECRETARY | ||||||
| TERM ENDED IN MAY 2011 | 2.00 | X | 0 | 0 | 0 | X |
| CHARLES MCQUADE | ||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |
| ARTHUR J MIRANTE II | ||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |
| REGINA PITARO | ||||||
| PRESIDENT | 2.00 | X | 0 | 0 | 0 | X |
| BRUCE RATNER | ||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |
| FREDERIC V SALERNO | ||||||
| TERM ENDED IN MAY 2011 | 2.00 | X | 0 | 0 | 0 | |
| SUSAN F ALTAMORE | ||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |
| CLARISSA ELGARTEN | ||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |
| THOMAS FLOOD | ||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |
| REV MSGR JAMIE J GIGANTIELLO | ||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |
| LOUIS GRASSI | ||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |
| REV MSGR MICHAEL HARDIMAN | ||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |
| WILLIAM J HOGAN | ||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |
| JOHN LOCONSOLO | ||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |
| JOSEPH MATTONE SR ESQ | ||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |
| LESTER J OWENS | ||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |
| JOSEPH SCIAME | ||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |
| MARTIN COTTINGHAM | ||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |
| ANTHONY DILAURO | ||||||
| EXECUTIVE DIRECTOR THRU JAN. 2011 | 35.00 | 173828 | 0 | 13777 | X | |
| JOHN NOTARO | ||||||
| ACTING EXECUTIVE DIRECTOR | 4.00 | 0 | 0 | 0 | X | |
| KEVIN KEARNEY | ||||||
| SECRETARY | 2.00 | 0 | 0 | 0 | X | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 173828 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 13777 | TotalOtherCompensation |
| Number Individuals GT100 K | 1 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
| Number Of Contractors GT100 K | 0 | NumberOfContractorsGT100K |
| All Other Contributions | 1049549 | AllOtherContributions |
| Total Contributions | 1049549 | TotalContributions |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 20586 | TotalRevenueColumn |
| Exclusion | $20,586 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1070135 | TotalRevenueColumn |
| Related Or Exempt Function Income | 0 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $20,586 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 411500 | Total |
| Program Services | 411500 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 151966 | Total |
| Management And General | 151966 | ManagementAndGeneral |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 63923 | Total |
| Management And General | 63923 | ManagementAndGeneral |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4200 | Total |
| Management And General | 4200 | ManagementAndGeneral |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 73 | Total |
| Management And General | 73 | ManagementAndGeneral |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 19825 | Total |
| Management And General | 19825 | ManagementAndGeneral |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 17503 | Total |
| Management And General | 17503 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 11000 | Total |
| Management And General | 11000 | ManagementAndGeneral |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 76612 | Total |
| Fundraising | 76612 | Fundraising |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4766 | Total |
| Management And General | 4766 | ManagementAndGeneral |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 42 | Total |
| Management And General | 42 | ManagementAndGeneral |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 841 | Total |
| Management And General | 841 | ManagementAndGeneral |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 762251 | Total |
| Program Services | 411500 | ProgramServices |
| Management And General | 274139 | ManagementAndGeneral |
| Fundraising | 76612 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 11888 | BOY |
| EOY | 217621 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3247817 | BOY |
| EOY | 3303693 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2245431 | BOY |
| EOY | 2309690 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5505136 | BOY |
| EOY | 5831004 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 15420 | BOY |
| EOY | 33404 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 15420 | BOY |
| EOY | 33404 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3235491 | BOY |
| EOY | 2502728 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2254225 | BOY |
| EOY | 3294872 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5489716 | BOY |
| EOY | 5797600 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5505136 | BOY |
| EOY | 5831004 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expenses | 307884 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 0 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org170b1 Avi | X | PubliclySupportedOrg170b1Avi |
Gifts Grants Contrib Received170 GiftsGrantsContribReceived170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 3906021 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 2896787 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 1699566 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 378596 | CurrentTaxYearMinus1Year |
| Current Tax Year | 1049549 | CurrentTaxYear |
| Total | 9930519 | Total |
Total170 Total170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 3906021 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 2896787 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 1699566 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 378596 | CurrentTaxYearMinus1Year |
| Current Tax Year | 1049549 | CurrentTaxYear |
| Total | 9930519 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Amounts Subst Contributors Total | 6911282 | AmountsSubstContributorsTotal |
| Public Support Total170 | 3019237 | PublicSupportTotal170 |
Gross Investment Income170 GrossInvestmentIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | 26888 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 54418 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 30312 | CurrentTaxYearMinus1Year |
| Current Tax Year | 20586 | CurrentTaxYear |
| Total | 132204 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | 10062723 | TotalSupport |
| First5 Years170 | X | First5Years170 |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 1402280 | BeginningOfYearBalance |
| Contributions | 504958 | Contributions |
| Investment Earnings Or Losses | 10293 | InvestmentEarningsOrLosses |
| End Of Year Balance | 1917531 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 937465 | BeginningOfYearBalance |
| Contributions | 452517 | Contributions |
| Investment Earnings Or Losses | 12298 | InvestmentEarningsOrLosses |
| End Of Year Balance | 1402280 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 349219 | BeginningOfYearBalance |
| Contributions | 576500 | Contributions |
| Investment Earnings Or Losses | 11746 | InvestmentEarningsOrLosses |
| End Of Year Balance | 937465 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Permanent Endowment EOY Balance | 0.97000 | PermanentEndowmentEOYBalance |
| Term Endowment EOY Balance | 0.03000 | TermEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | 0 | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | 0 | EndowmentsHeldByRelatedOrgs |
| Total Of Book Value Land Buildings | 0 | TotalOfBookValueLandBuildings |
| Total Revenue | 1070135 | TotalRevenue |
| Total Expenses | 762251 | TotalExpenses |
| Excess Or Deficit For Year | 307884 | ExcessOrDeficitForYear |
| Total Adjustments | 0 | TotalAdjustments |
| Excess Or Deficit Per FS | 307884 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 1070135 | TotRevenueEtcAuditedFinclStmt |
| Revenue Not Rptd F990 | 0 | RevenueNotRptdF990 |
| Revenue Subtotal | 1070135 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 1070135 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 762251 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 762251 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 762251 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: | PART V, LINE 4: | TO PROVIDE INCOME FOR EDUCATIONAL SCHOLARSHIPS FOR THOSE IN NEED. |
| DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | PART X: | THE ENDOWMENT FUND RECOGNIZES THE EFFECT OF TAX POSITIONS ONLY WHEN THEY ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE ENDOWMENT FUND HAD NO UNCERTAIN TAX POSITIONS THAT THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE ENDOWMENT FUND IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO JUNE 30, 2008. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Recipient Table RecipientTable (3 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EIN Of RecipientEINOfRecipient | IRC SectionIRCSection | Amount Of Cash GrantAmountOfCashGrant | Purpose Of GrantPurposeOfGrant |
|---|---|---|---|---|---|---|---|
| CHILDREN' SCHOLARSHIP FUND | |||||||
| 8 WEST 38TH STREET | NEW YORK | NY | 10018 | 134002189 | 501(C)(3) | 400000 | EDUCATIONAL SCHOLARSHIPSSCHOLARSHIP ASSISTANCE |
| FUTURES IN EDUCATION FOUNDATION | |||||||
| 310 PROSPECT PARK WEST | BROOKLYN | NY | 11215 | 112979801 | 501(C)(3) | 6500 | ANNUAL DINNER |
| ALIVE IN HOPE FOUNDATION | |||||||
| 310 PROSPECT PARK WEST | BROOKLYN | NY | 11215 | 113437482 | 501(C)(3) | 5000 | BISHOP'S CHRISTMAS LUNCHEON |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Nbr Of501 C3 And Govt Grants | 3 | TotalNbrOf501C3AndGovtGrants |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURE FOR MONITORING GRANTS IN THE U.S.: | Identifier |
| Return Reference | PART I, LINE 2: | ReturnReference |
| Explanation | SCHEDULE I, PART I, LINE 2: FUNDS GIVEN TO THE CHILDREN'S SCHOLARSHIP FUND ARE MATCHED 50% BY THE CHILDREN'S SCHOLARSHIP FUND. SCHOLARSHIPS ARE GIVEN TO CHILDREN BASED ON THEIR FINANCIAL NEEDS. FUTURES IN EDUCATION ENDOWMENT FUND REVIEWS THE ANNUAL REPORT OF THE CHILDREN'S SCHOLARSHIP FUND AND MONITORS THE GOALS AND ACCOMPLISHMENTS THAT ARE REACHED BY THE CHILDREN'S SCHOLARSHIP FUND. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Written Employment Contract | X | WrittenEmploymentContract |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | ANTHONY DILAURO | NamePerson |
| Base Compensation Filing Org | 173828 | BaseCompensationFilingOrg |
| Comp Based On Related Orgs | 0 | CompBasedOnRelatedOrgs |
| Bonus Filing Org | 0 | BonusFilingOrg |
| Bonus Related Orgs | 0 | BonusRelatedOrgs |
| Other Compensation Filing Org | 0 | OtherCompensationFilingOrg |
| Other Compensation Related Orgs | 0 | OtherCompensationRelatedOrgs |
| Deferred Comp Filing Org | 4375 | DeferredCompFilingOrg |
| Deferred Comp Related Orgs | 0 | DeferredCompRelatedOrgs |
| Nontaxable Benefits Filing Org | 9402 | NontaxableBenefitsFilingOrg |
| Nontaxable Benefits Related Orgs | 0 | NontaxableBenefitsRelatedOrgs |
| Total Compensation Filing Org | 187605 | TotalCompensationFilingOrg |
| Total Compensation Related Orgs | 0 | TotalCompensationRelatedOrgs |
| Comp Report Prior990 Filing Org | 0 | CompReportPrior990FilingOrg |
| Comp Report Prior990 Related Orgs | 0 | CompReportPrior990RelatedOrgs |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (7 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 4 | THE ORGANIZATION AMENDED ITS BY-LAWS TO CHANGE THE YEAR-END FROM JUNE 30TH TO DECEMBER 31ST. | |
| FORM 990, PART VI, SECTION B, LINE 11 | AN ELECTRONIC COPY OF THE DRAFT FORM 990 IS PRESENTED TO THE ENTIRE BOARD OF DIRECTORS FOR REVIEW AND COMMENT. ANY QUESTIONS OR COMMENTS ARE REVIEWED WITH THE ORGANIZATION'S AUDITORS. WHEN ANY NECESSARY REVISIONS HAVE BEEN MADE, THE RETURN IS FILED WITH THE IRS. | |
| ANNUALLY ALL DIRECTORS, PRINCIPAL OFFICERS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS MUST SIGN A STATEMENT WHICH AFFIRMS HIS/HER UNDERSTANDING AND COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY AND MUST DISCLOSE THE EXISTENCE OF ANY POTENTIAL CONFLICT OF INTEREST. THE REMAINDER OF THE BOARD OR COMMITTEE SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. IF A CONFLICT OF INTEREST EXISTS, THE CHAIRPERSON OF THE GOVERNING BOARD OR COMMITTEE SHALL APPOINT A DISINTERESTED PERSON TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE GOVERNING BOARD OR COMMITTEE SHALL DECIDE BY MAJORITY VOTE OF DISINTERESTED DIRECTORS WHETHER OR NOT TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. THE MINUTES OF THE BOARD SHALL CONTAIN INFORMATION RELATED TO SUCH CONFLICTS OF INTEREST AND THE RESOLUTION THEREOF. | FORM 990, PART VI, SECTION B, LINE 12C | |
| AS A FAIRLY NEW ORGANIZATION, THE BOARD OF DIRECTORS, AT TIMES USED THE SERVICES OF AN OUTSIDE CONSULTANT TO SEARCH FOR KEY PERSONNEL. CERTAIN MEMBERS OF THE BOARD INTERVIEW POTENTIAL CANDIDATES AND SELECT A FINAL CANDIDATE. A WRITTEN EMPLOYMENT CONTRACT IS THEN PREPARED WHICH INCLUDES, SALARY, BONUS POTENTIAL, AND FRINGE BENEFITS. THIS CONTRACT IS THEN SIGNED BY THE CHAIRMAN OF THE BOARD. THE BOARD PLANS TO FORM A FORMAL COMPENSATION COMMITTEE IN THE NEAR FUTURE. | FORM 990, PART VI, SECTION B, LINE 15 | |
| THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE BY POSTING IT ON THE GUIDESTAR.ORG WEBSITE. IN ADDITION, FORM 990 IS ALSO AVAILABLE UPON WRITTEN REQUEST AT THE ORGANIZATION'S BUSINESS ADDRESS DURING NORMAL BUSINESS HOURS. | FORM 990, PART VI, SECTION C, LINE 18 | |
| THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST AT THE ORGANIZATION'S BUSINESS ADDRESS DURING NORMAL BUSINESS HOURS. | FORM 990, PART VI, SECTION C, LINE 19 | |
| THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS DID NOT CHANGE FROM THE PRIOR YEAR. | FORM 990, PART XII, LINE 2C |
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