Futures in Education FY2020 filing

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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.

501(c)(3) charity; gifts are tax-deductible.
86¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $1.4M a year · 15% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
<1 mo
of spending, in cash
Plus $6.2M in investments, Pt X · Ln 11–13
Fine: 0.7 months of spending in cash, plus $6.2M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $7K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.4M
25% of total assets
Looks good: liabilities are 25% of assets; 50% or less.
Pt X · Ln 26
Independent board members
21
of 21 voting members
Looks good: 21 of 21 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$8.7M
Spent
$8.5M
To programs
86%
Net assets
$7.3M
By yearFY2020–FY2025
Revenue
$8.7M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$8.7M
FY2021$9.0M
FY2022$8.4M
FY2023$9.4M
FY2024$7.7M
FY2025$10.9M
Expenses
$8.5M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$8.5M
FY2021$7.3M
FY2022$7.4M
FY2023$7.4M
FY2024$7.4M
FY2025$7.8M
Net assets
$7.3M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$7.3M
FY2021$9.4M
FY2022$9.0M
FY2023$10.9M
FY2024$11.7M
FY2025$16.0M

From the FY2020 Form 990 (year ending August 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2007.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $7.3M Management & general 5% · $385K Fundraising 9% · $775K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

24 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Futures in Education executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides financial aid for excellent Catholic education to deserving students in Brooklyn and Queens.

Questions for Futures in Education

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3 programs · $7.3M · in their own filed words · FY2019
01

Diocese of brooklyn 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.

$3.8Mprogram expense
02

Bishop's scholarship program in 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.

$2.3Mprogram expense
03

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.

$1.2Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$7K
Grants paid · 31 grants · $36.2M · 2019–2024
Unitemized GrantFY2024$4,420,323
Unitemized GrantFY2024$1,689,970
Cathedral Prep High SchoolFY2024$55,000
St Johns University New YorkNY · FY2024$20,000
Bay Ridge Catholic AcademyNY · FY2024$15,000
St Francis CollegeNY · FY2024$5,333
Unitemized GrantFY2023$4,136,300
Unitemized GrantFY2023$1,501,985
Cathedral Prep High SchoolFY2023$52,000
Our Lady of Mount CarmelFY2023$15,786
Diocese of BrooklynFY2023$12,425
St Francis CollegeNY · FY2023$12,080
Unitemized GrantFY2022$4,190,390
Unitemized GrantFY2022$1,439,132
Cathedral Prep High SchoolFY2022$55,500
Our Lady of Mount CarmelFY2022$15,228
St Johns University New YorkNY · FY2022$10,000
Diocese of BrooklynFY2022$9,740
See all 31 grants →

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$8.7M
Ln 12
Gifts and grantsLn 1h$8.5M
Investment incomeLn 3$140K
Other incomeLn 4–11$20K
Money outPt IX
$8.5M
Ln 25
Programscol B$7.3M
Managementcol C$385K
Fundraisingcol D$775K
Owns and owesPt X
$7.3M
net assets · Ln 32
Cash and savingsLn 1–2$473K
Total assetsLn 16$9.7M
LiabilitiesLn 26$2.4M
PeoplePt VI, VII
24
listed · VII A
PaidVII A0
Voting boardVI 1a21
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$8.5M
Noncash giftsLn 1g$410K
Fundraising eventsLn 1c$956K
Investment incomeLn 3$140K
Other incomeLn 4–11$20K
Gains on assetsLn 7$20K
Total revenueLn 12$8.7M
Assets in detailPt X, end of year
CashLn 1$177K
SavingsLn 2$296K
Cash and savings togetherLn 1–2$473K
Pledges and grants receivableLn 3$2.9M
Prepaid expenses and deferred chargesLn 9$52K
InvestmentsLn 11–13$6.2M
Other assetsLn 15$85K
Total assetsLn 16$9.7M
LiabilitiesLn 26$2.4M
Net assetsLn 32$7.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 622
Fiscal year endsHeaderAugust
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$410K
Investment feesPt IX, Sch D
Investment fees, as reportedPt IX 11f$51K
Share of the $4.7M endowmentSch D 1g1.1%
Typical, median of 1,806 orgs0.44%
EndowmentSch D · Pt V
LineFY20FY19FY18FY17FY16
End of yearLn 1g$4.7M$4.3M$3.9M$4.0M$3.5M
Given inLn 1b$35K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$846K$473K
InvestmentsLn 11–13$5.7M$6.2M
Total assetsLn 16$8.2M$9.7M
LiabilitiesLn 26$1.5M$2.4M
Net assetsLn 32$6.6M$7.3M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$68K$68K
Grants to domestic individualsLn 2$6.8M$6.8M
Management feesLn 11a$771K$342K$158K$271K
Accounting feesLn 11c$27K$27K
Professional fundraising feesLn 11e$186K$186K
Investment management feesLn 11f$51K$51K
Other fees for servicesLn 11g$20K$11K$9K
Advertising and promotionLn 12$83K$83K
Office expensesLn 13$198K$126K$40K$32K
Information technologyLn 14$59K$3K$52K$3K
OccupancyLn 16$40K$19K$8K$14K
TravelLn 17$6K$113$10$5K
Conferences, conventions and meetingsLn 19$176K$9K$767$167K
InsuranceLn 23$32K$32K
Other expenses (24a–d)Ln 24$15K$4K$8K$3K
Total functional expensesLn 25$8.5M$7.3M$385K$775K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Jul 13, 2026 $10.9M$7.8M$3.1M$16.0M 990 PDF
FY2024Filed with the IRS Jul 14, 2025 $7.7M$7.4M$327K$11.7M 990 PDF
FY2023Filed with the IRS Jul 15, 2024 $9.4M$7.4M$2.0M$10.9M 990 PDF
FY2022Filed with the IRS Jul 17, 2023 $8.4M$7.4M$1.0M$9.0M 990 PDF
FY2021Filed with the IRS Jul 15, 2022 $9.0M$7.3M$1.6M$9.4M 990 PDF
FY2020 ViewingFiled with the IRS Jul 15, 2021 $8.7M$8.5M$193K$7.3M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $8,686,843 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,313,084$8,527,803
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $137,300$139,532
I-11 Other revenuePrior year −$5,145$19,508
I-12 Total revenuePrior year $1,445,239$8,686,843
I-13 Grants and similar amounts paidPrior year $3,152,281$6,830,135
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $9,000$186,266
I-17 Other expensesPrior year $799,685$1,477,066
I-18 Total expensesPrior year $3,960,966$8,493,467
I-19 Revenue less expensesPrior year −$2,515,727$193,376
Part VI · Governance 21 of 21 board members independent, 1 to look at
VI-1a Voting members of the governing body21
VI-1b Independent voting members21
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $8,686,843 across 9 lines filed
VIII-1c Fundraising events$955,740
VIII-1f All other contributions, gifts and grants$7,572,063
VIII-1g Noncash contributions (included above)$410,353
VIII-1h Total contributions, gifts and grants$8,527,803
VIII-3 Investment incomeExcluded from tax $119,759$119,759
VIII-7 Net gain or loss on sales of assetsExcluded from tax $19,773$19,773
VIII-8 Net income from fundraising eventsExcluded from tax −$40,317−$40,317
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $59,825$59,825
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $159,040$8,686,843
Part IX · Statement of functional expenses $8,493,467 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $68,227$68,227
IX-2 Grants to domestic individualsPrograms $6,761,908$6,761,908
IX-11a Management feesPrograms $342,001 · Management $157,525 · Fundraising $271,037$770,563
IX-11c Accounting feesManagement $26,551$26,551
IX-11e Professional fundraising feesFundraising $186,266$186,266
IX-11f Investment management feesManagement $50,655$50,655
IX-11g Other fees for servicesManagement $11,000 · Fundraising $9,093$20,093
IX-12 Advertising and promotionFundraising $83,460$83,460
IX-13 Office expensesPrograms $126,236 · Management $39,537 · Fundraising $32,115$197,888
IX-14 Information technologyPrograms $3,404 · Management $52,384 · Fundraising $3,016$58,804
IX-16 OccupancyPrograms $18,595 · Management $7,520 · Fundraising $14,164$40,279
IX-17 TravelPrograms $113 · Management $10 · Fundraising $5,432$5,555
IX-19 Conferences, conventions and meetingsPrograms $8,763 · Management $767 · Fundraising $166,649$176,179
IX-23 InsuranceManagement $31,859$31,859
IX-24 Other expenses (24a–d)Programs $4,320 · Management $7,522 · Fundraising $3,338$15,180
IX-25 Total functional expensesPrograms $7,333,567 · Management $385,330 · Fundraising $774,570$8,493,467
Part X · Balance sheet $9,663,115 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $582,758$177,072
X-2 Savings and temporary cash investmentsStart of year $263,110$295,664
X-3 Pledges and grants receivableStart of year $1,471,286$2,877,873
X-9 Prepaid expenses and deferred chargesStart of year $152,165$52,188
X-11 Publicly traded securitiesStart of year $4,942,042$5,389,199
X-12 Other securitiesStart of year $755,795$785,655
X-15 Other assetsStart of year $8,209$85,464
X-16 Total assetsStart of year $8,175,365$9,663,115
X-17 Accounts payable and accrued expensesStart of year $49,045$88,732
X-21 Escrow or custodial accountsStart of year $8,209$85,464
X-25 Other liabilitiesStart of year $1,478,009$2,215,970
X-26 Total liabilitiesStart of year $1,535,263$2,390,166
X-27 Net assets without donor restrictionsStart of year $10,797$297,587
X-28 Net assets with donor restrictionsStart of year $6,629,305$6,975,362
X-32 Total net assets or fund balancesStart of year $6,640,102$7,272,949
X-33 Total liabilities and net assetsStart of year $8,175,365$9,663,115
Part XI · Reconciliation of net assets $7,272,949 net assets at year end
XI-1 Total revenue$8,686,843
XI-2 Total expenses$8,493,467
XI-3 Revenue less expenses$193,376
XI-4 Net assets at start of year$6,640,102
XI-5 Net unrealized gains (losses) on investments$414,604
XI-9 Other changes in net assets$24,867
XI-10 Net assets at end of year$7,272,949

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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