Open Future Institute FY2024 filing

Tax-deductible

New York, NY501(c)(3)Since 2012Arts & CultureEIN 45-5494252Revenue $437K in FY2024

On file with the IRSopenfutureinstitute.org301 West 57th Street, 10019-3114 · New York, NYTax-exempt since Feb 2014Publicly supported charity — 170(b)(1)(A)(vi)

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Our mission is to expand and promote the evolution of culture in order to support the advancement of society and to address global challenges at their source.

501(c)(3) charity; gifts are tax-deductible.
63¢ of each $1 spent went to programs.
$90K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · 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 $130K a year · 24% 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
63%
of spending
Worth a look: 63% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$90K
to officers and key staff · 21% of spending
Worth a look: pay to officers and key staff is 21% of spending; over 20%.
Pt VII · Sec A
Cash reserves
24 mo
of spending, in cash
Looks good: 24.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $121K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$6K
0.6% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 7 voting members
Looks good: 5 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$437K
-19% vs prior year
Spent
$425K
To programs
63%
Net assets
$908K
By yearFY2020–FY2025
Revenue
$437K
FY2024▼ -19%
Tap a bar for its year
Revenue by fiscal year
FY2020$461K
FY2021$546K
FY2022$543K
FY2023$541K
FY2024$437K
FY2025$728K
Expenses
$425K
FY2024▲ +10%
Tap a bar for its year
Expenses by fiscal year
FY2020$304K
FY2021$432K
FY2022$452K
FY2023$387K
FY2024$425K
FY2025$477K
Net assets
$908K
FY2024▲ +6%
Tap a bar for its year
Net assets by fiscal year
FY2020$498K
FY2021$613K
FY2022$704K
FY2023$858K
FY2024$908K
FY2025$1.2M

From the FY2024 Form 990 · see the original

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You’re viewing the FY2024 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 Feb 2014.

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

Where the money goes

63 cents of each dollar spent went to programs.

Program services 63% · $270K Management & general 18% · $78K Fundraising 18% · $78K

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

7 people listed on the 990; $90K paid to officers and key staff.

Part VII, Section A · reportable compensation
Co-Founder & Executive Dir
$90,000Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Founder President & Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Francesca Rusciani’s $90K as Co-Founder & Executive Dir is at the 83rd percentile of top reported officer pay among 2216 $100K–1M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Francesca Rusciani$90,000$90,000$90,000$90,000$85,000$75,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Open Future Institute executive salaries →

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Questions the 990 asks

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

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Equips students with vision and core values for success.

Questions for Open Future Institute

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Provided by the organization

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1 program · $270K · in their own filed words · FY2024
01

The question project provides forums for high school and university students globally to reflect on their beliefs, values, and purpose. It is designed to give students an opportunity to engage authentically with their core values and how they define meaning at a stage in their lives when they begin making choices that will set the…

$270Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 4 funders$121K
See all 4 funders →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$437K
Ln 12
Gifts and grantsLn 1h$305K
Fees for servicesLn 2g$89K
Investment incomeLn 3$42K
Money outPt IX
$425K
Ln 25
Programscol B$270K
Managementcol C$78K
Fundraisingcol D$78K
Owns and owesPt X
$908K
net assets · Ln 32
Cash and savingsLn 1–2$859K
Total assetsLn 16$913K
LiabilitiesLn 26$6K
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$305K
Government grantsLn 1e$81K
Noncash giftsLn 1g$25K
Fees for servicesLn 2g$89K
Investment incomeLn 3$42K
Total revenueLn 12$437K
Assets in detailPt X, end of year
CashLn 1$104K
SavingsLn 2$755K
Cash and savings togetherLn 1–2$859K
InvestmentsLn 11–13$15K
Total assetsLn 16$913K
LiabilitiesLn 26$6K
Net assetsLn 32$908K
OperationsPt I, VI
EmployeesI 55
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$438K$859K
InvestmentsLn 11–13$420K$15K
Total assetsLn 16$863K$913K
LiabilitiesLn 26$5K$6K
Net assetsLn 32$858K$908K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$107K$75K$12K$20K
Other salaries and wagesLn 7$143K$101K$16K$26K
Other employee benefitsLn 9$33K$22K$3K$8K
Payroll taxesLn 10$18K$12K$2K$5K
Legal feesLn 11b$52$52
Accounting feesLn 11c$12K$12K
Other fees for servicesLn 11g$46K$19K$26K$375
Office expensesLn 13$3K$2K$950
Information technologyLn 14$4K$245$654$3K
OccupancyLn 16$36K$25K$4K$7K
InsuranceLn 23$2K$901$1K
Other expenses (24a–d)Ln 24$22K$13K$525$8K
Total functional expensesLn 25$425K$270K$78K$78K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $728K$477K$251K$1.2M 990 PDF
FY2024 Viewing $437K$425K$11K$908K 990 PDF
FY2023 $541K$387K$154K$858K 990 PDF
FY2022 $543K$452K$91K$704K 990 PDF
FY2021 $546K$432K$114K$613K 990 PDF
FY2020 $461K$304K$157K$498K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $436,566 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $480,186$305,180
I-9 Program service revenuePrior year $48,820$89,355
I-10 Investment incomePrior year $12,336$42,031
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $541,342$436,566
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $290,151$300,760
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $96,930$124,650
I-18 Total expensesPrior year $387,081$425,410
I-19 Revenue less expensesPrior year $154,261$11,156
Part VI · Governance 5 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $436,566 across 7 lines filed
VIII-1e Government grants$81,060
VIII-1f All other contributions, gifts and grants$224,120
VIII-1g Noncash contributions (included above)$25,183
VIII-1h Total contributions, gifts and grants$305,180
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $89,355$89,355
VIII-3 Investment incomeExcluded from tax $42,031$42,031
VIII-12 Total revenueRelated to mission $89,355 · Unrelated business $0 · Excluded from tax $42,031$436,566
Part IX · Statement of functional expenses $425,410 across 12 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $74,543 · Management $11,599 · Fundraising $20,377$106,519
IX-7 Other salaries and wagesPrograms $101,012 · Management $15,766 · Fundraising $25,763$142,541
IX-9 Other employee benefitsPrograms $21,738 · Management $3,320 · Fundraising $8,300$33,358
IX-10 Payroll taxesPrograms $11,953 · Management $1,826 · Fundraising $4,563$18,342
IX-11b Legal feesManagement $52$52
IX-11c Accounting feesManagement $11,800$11,800
IX-11g Other fees for servicesPrograms $19,145 · Management $26,229 · Fundraising $375$45,749
IX-13 Office expensesPrograms $1,817 · Management $950$2,767
IX-14 Information technologyPrograms $245 · Management $654 · Fundraising $3,396$4,295
IX-16 OccupancyPrograms $25,200 · Management $3,600 · Fundraising $7,200$36,000
IX-23 InsurancePrograms $901 · Management $1,451$2,352
IX-24 Other expenses (24a–d)Programs $13,013 · Management $525 · Fundraising $8,097$21,635
IX-25 Total functional expensesPrograms $269,567 · Management $77,772 · Fundraising $78,071$425,410
Part X · Balance sheet $913,245 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $405,317$103,832
X-2 Savings and temporary cash investmentsStart of year $32,298$755,145
X-4 Accounts receivableStart of year $5,322$36,350
X-9 Prepaid expenses and deferred charges$3,000
X-12 Other securitiesStart of year $420,000$14,918
X-16 Total assetsStart of year $862,937$913,245
X-17 Accounts payable and accrued expensesStart of year $5,081$5,548
X-26 Total liabilitiesStart of year $5,081$5,548
X-27 Net assets without donor restrictionsStart of year $857,856$907,697
X-32 Total net assets or fund balancesStart of year $857,856$907,697
X-33 Total liabilities and net assetsStart of year $862,937$913,245
Part XI · Reconciliation of net assets $907,697 net assets at year end
XI-1 Total revenue$436,566
XI-2 Total expenses$425,410
XI-3 Revenue less expenses$11,156
XI-4 Net assets at start of year$857,856
XI-8 Prior period adjustments$38,685
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$907,697

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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