2012-05-14T14:06:59-05:00 2011-06-30 O'CONNOR DAVIES MUNNS & DOBBINS LLP 500 MAMARONECK AVENUE HARRISON NY 105281633 990 2010-07-01 205496382 FUTURES IN EDUCATION ENDOWMENT FUND FOR BROOKLYN & QUEENS FUTU 7189657308 310 PROSPECT PARK WEST BROOKLYN NY 11215 JOHN NOTARO 7189657308 2012-05-10 1 GARRETT HIGGINS 9143818900 2010 2016-02-24 21:20:13Z JOHN NOTARO 310 PROSPECT PARK WEST BROOKLYN NY 11215 1070135 0 X WWW.FIEEF.ORG X 2006 NY 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. 21 21 2 24 0 0 378596 1049549 0 0 30312 20586 0 0 408908 1070135 650000 411500 0 0 267110 239987 105000 0 76612 121221 110764 1143331 762251 -734423 307884 5505136 5831004 15420 33404 5489716 5797600 X 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. 0 0 411500 411500 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. 411500 1 1 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2 0 1 2 1 0 0 0 0 0 0 0 0 0 0 X 21 21 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X JOHN NOTARO 7189657308 310 PROSPECT PARK WEST BROOKLYN NY 11215 MOST REV NICHOLAS DIMARZIO 2.00 X 0 0 0 ROBERT CATELL 2.00 X X 0 0 0 BRENDAN DUGAN 2.00 X X 0 0 0 ROBERT GARTLAND 2.00 X 0 0 0 DR FRANK MACCHIAROLA 2.00 X 0 0 0 THOMAS MCINERNEY SECRETARY 2.00 X X 0 0 0 CHARLES MCQUADE 2.00 X 0 0 0 ARTHUR J MIRANTE II 2.00 X 0 0 0 REGINA PITARO 2.00 X X 0 0 0 BRUCE RATNER 2.00 X 0 0 0 FREDERIC V SALERNO 2.00 X 0 0 0 SUSAN F ALTAMORE 2.00 X 0 0 0 CLARISSA ELGARTEN 2.00 X 0 0 0 THOMAS FLOOD 2.00 X 0 0 0 REV MSGR JAMIE J GIGANTIELLO 2.00 X 0 0 0 LOUIS GRASSI 2.00 X 0 0 0 REV MSGR MICHAEL HARDIMAN 2.00 X 0 0 0 WILLIAM J HOGAN 2.00 X 0 0 0 JOHN LOCONSOLO 2.00 X 0 0 0 JOSEPH MATTONE SR ESQ 2.00 X 0 0 0 LESTER J OWENS 2.00 X 0 0 0 JOSEPH SCIAME 2.00 X 0 0 0 MARTIN COTTINGHAM 2.00 X 0 0 0 ANTHONY DILAURO 35.00 X 173828 0 13777 JOHN NOTARO 4.00 X 0 0 0 KEVIN KEARNEY 2.00 X 0 0 0 173828 0 13777 1 0 1 0 0 1049549 1049549 20586 20586 1070135 0 0 20586 411500 411500 151966 151966 63923 63923 4200 4200 73 73 19825 19825 17503 17503 11000 11000 76612 76612 4766 4766 42 42 841 841 762251 411500 274139 76612 11888 217621 3247817 3303693 2245431 2309690 5505136 5831004 15420 33404 15420 33404 X 3235491 2502728 2254225 3294872 5489716 5797600 5505136 5831004 307884 0 X X 0 1 1 X 0 X 3906021 2896787 1699566 378596 1049549 9930519 3906021 2896787 1699566 378596 1049549 9930519 6911282 3019237 26888 54418 30312 20586 132204 10062723 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1402280 504958 10293 1917531 937465 452517 12298 1402280 349219 576500 11746 937465 0.97000 0.03000 0 0 0 1070135 762251 307884 0 307884 1070135 0 1070135 0 1070135 762251 0 762251 0 762251 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. 1 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 3 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: 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. X X 0 0 0 0 0 0 0 0 0 ANTHONY DILAURO 173828 0 0 0 0 0 4375 0 9402 0 187605 0 0 0 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. FORM 990, PART VI, SECTION B, LINE 12C 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 15 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 C, LINE 18 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 19 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 XII, LINE 2C 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.