Futuro Academy Incorporated FY2021 filing

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To educate all scholars to excel through grade school and into the university of their choice.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
$92K 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

FY2021 · 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
2 of 6
filings with a surplus
Average deficit $344K a year · 6% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$92K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
1 mo
of spending, in cash
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $22K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.7M
93% of total assets
Concern: liabilities are 93% of assets; over 80%.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.2M
+32% vs prior year
Spent
$4.0M
To programs
88%
Net assets
$217K
By yearFY2020–FY2025
Revenue
$4.2M
FY2021▲ +32%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.2M
FY2021$4.2M
FY2022$5.4M
FY2023$5.4M
FY2024$6.9M
FY2025$7.1M
Expenses
$4.0M
FY2021▲ +24%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.2M
FY2021$4.0M
FY2022$5.4M
FY2023$6.3M
FY2024$7.5M
FY2025$7.9M
Net assets
$217K
FY2021▲ ×18
Tap a bar for its year
Net assets by fiscal year
FY2020−$14K
FY2021$217K
FY2022$224K
FY2023−$668K
FY2024−$1.2M
FY2025−$2.1M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 Jun 2016.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $3.5M Management & general 12% · $488K

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

9 people listed on the 990; $92K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Executive Director
$92,062Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A

Cindi Rivera’s $145K as Associate Executive Director is at the 61st percentile of top reported officer pay among 3395 $1–10M education 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 · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Cindi Rivera$145,009$138,577$114,463———
Ignacio Prado$141,270$140,022$120,414$109,732$92,062$88,238
Anastasia Webb$65,411—————
Chelsea Prado——$59,998———

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 Futuro Academy Incorporated 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 15aYes

Programs and updates

Helps students excel from grade school through university.

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1 program · $3.5M · in their own filed words · FY2020
01

The organization provided education to approximately 431 students in kindergarten through fourth grade for 165 instructional days.

$3.5Mprogram 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
Opportunity 180FY2024$22K
Total grants receivedfrom 1 funder$22K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$4.2M
Ln 12
Gifts and grantsLn 1h$4.2M
Other incomeLn 4–11$14K
Investment incomeLn 3$2
Money outPt IX
$4.0M
Ln 25
Programscol B$3.5M
Managementcol C$488K
Owns and owesPt X
$217K
net assets · Ln 32
Cash and savingsLn 1–2$331K
Total assetsLn 16$3.0M
LiabilitiesLn 26$2.7M
PeoplePt VI, VII
9
listed · VII A
PaidVII A1
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.2M
Government grantsLn 1e$4.2M
Investment incomeLn 3$2
Other incomeLn 4–11$14K
Total revenueLn 12$4.2M
Assets in detailPt X, end of year
CashLn 1$331K
Cash and savings togetherLn 1–2$331K
Land, buildings, equipmentLn 10c$80K
Total assetsLn 16$3.0M
LiabilitiesLn 26$2.7M
Net assetsLn 32$217K
OperationsPt I, VI
EmployeesI 551
VolunteersI 68
Fiscal year endsHeaderJune
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 FY21End FY21
Cash and savingsLn 1–2$278K$331K
Land, buildings, equipmentLn 10c$74K$80K
Total assetsLn 16$2.3M$3.0M
LiabilitiesLn 26$2.3M$2.7M
Net assetsLn 32−$14K$217K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$127K$127K
Other salaries and wagesLn 7$1.4M$1.3M$57K
Pension plan contributionsLn 8$564K$554K$10K
Other employee benefitsLn 9$150K$143K$6K
Payroll taxesLn 10$36K$35K$1K
Other fees for servicesLn 11g$271K$126K$146K
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$173K$64K$109K
Information technologyLn 14$337K$272K$66K
OccupancyLn 16$803K$798K$4K
TravelLn 17$40K$40K
InterestLn 20$1K$1K
Depreciation, depletion and amortizationLn 22$13K$13K
InsuranceLn 23$25K$25K
Other expenses (24a–d)Ln 24$96K$89K$7K
Total functional expensesLn 25$4.0M$3.5M$488K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Mar 11, 2026 $7.1M$7.9M−$825K−$2.1M 990 PDF
FY2024Filed with the IRS May 13, 2025 $6.9M$7.5M−$581K−$1.2M 990 PDF
FY2023Filed with the IRS Apr 25, 2024 $5.4M$6.3M−$892K−$668K 990 PDF
FY2022Filed with the IRS May 15, 2023 $5.4M$5.4M$7K$224K 990 PDF
FY2021 ViewingFiled with the IRS Mar 28, 2022 $4.2M$4.0M$231K$217K 990 PDF
FY2020Filed with the IRS Mar 18, 2021 $3.2M$3.2M−$4K−$14K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $4,245,726 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,213,724$4,232,094
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$2
I-11 Other revenuePrior year $10,141$13,630
I-12 Total revenuePrior year $3,223,865$4,245,726
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 $1,800,359$2,252,889
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,427,458$1,762,297
I-18 Total expensesPrior year $3,227,817$4,015,186
I-19 Revenue less expensesPrior year −$3,952$230,540
Part VI · Governance 8 of 8 board members independent, no flags
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $4,245,726 across 6 lines filed
VIII-1e Government grants$4,181,853
VIII-1f All other contributions, gifts and grants$50,241
VIII-1h Total contributions, gifts and grants$4,232,094
VIII-3 Investment incomeExcluded from tax $2$2
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $13,630$13,630
VIII-12 Total revenueRelated to mission $13,630 · Unrelated business $0 · Excluded from tax $2$4,245,726
Part IX · Statement of functional expenses $4,015,186 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $126,957$126,957
IX-7 Other salaries and wagesPrograms $1,319,208 · Management $56,794$1,376,002
IX-8 Pension plan contributionsPrograms $553,654 · Management $10,184$563,838
IX-9 Other employee benefitsPrograms $143,225 · Management $6,496$149,721
IX-10 Payroll taxesPrograms $34,957 · Management $1,414$36,371
IX-11g Other fees for servicesPrograms $125,694 · Management $145,563$271,257
IX-12 Advertising and promotionManagement $3,163$3,163
IX-13 Office expensesPrograms $64,102 · Management $109,132$173,234
IX-14 Information technologyPrograms $271,610 · Management $65,681$337,291
IX-16 OccupancyPrograms $798,488 · Management $4,163$802,651
IX-17 TravelManagement $40,036$40,036
IX-20 InterestManagement $1,078$1,078
IX-22 Depreciation, depletion and amortizationManagement $12,989$12,989
IX-23 InsuranceManagement $24,677$24,677
IX-24 Other expenses (24a–d)Programs $88,980 · Management $6,941$95,921
IX-25 Total functional expensesPrograms $3,526,875 · Management $488,311 · Fundraising $0$4,015,186
Part X · Balance sheet $2,952,279 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $278,243$330,989
X-3 Pledges and grants receivableStart of year $287,388$474,569
X-4 Accounts receivableStart of year $172,361$232,006
X-9 Prepaid expenses and deferred chargesStart of year $1,512,368$1,834,937
X-10c Land, buildings and equipment, netStart of year $74,468$79,778
X-16 Total assetsStart of year $2,324,828$2,952,279
X-17 Accounts payable and accrued expensesStart of year $121,196$159,013
X-24 Unsecured notes and loans payableStart of year $309,600$5,964
X-25 Other liabilitiesStart of year $1,907,568$2,570,298
X-26 Total liabilitiesStart of year $2,338,364$2,735,275
X-27 Net assets without donor restrictionsStart of year −$13,536$217,004
X-32 Total net assets or fund balancesStart of year −$13,536$217,004
X-33 Total liabilities and net assetsStart of year $2,324,828$2,952,279
Part XI · Reconciliation of net assets $217,004 net assets at year end
XI-1 Total revenue$4,245,726
XI-2 Total expenses$4,015,186
XI-3 Revenue less expenses$230,540
XI-4 Net assets at start of year−$13,536
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$217,004

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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