Future Legends EIN 81-2380227 Form 990 (PDF) Claim this org

Future Legends

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Provides resources and builds skills for deserving scholars pursuing four-year college degrees. For fiscal year 2024 it reported $0 in revenue, $0 in expenses, and $684K in net assets.Pt I

Type
Public charity (501(c)(3)) · Education
Location
Rcho Santa Fe, CA
Website
www.futurelegendsfund.org
Filings
5 on file (2020–2024)
Revenue
$0FY2024
Expenses
$0
Net assets
$684K
People
3
Filings
5
Updates
0
More identity details & actions ⌄
EIN  81-2380227 Public charity (501(c)(3)) Rcho Santa Fe, CA
Form 990 (PDF)
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Size
<$100K
What they do
Provides resources and builds skills for deserving scholars pursuing four-year college degrees.
Leadership
Don Carter · Chairman
Money in and out
$0 revenue, $0 expenses
Where the money goes · FY2024
Total revenue
$0
Pt VIII · Ln 12
Total expenses
$0
Pt IX · Ln 25
Net assets
$684K
Pt X · Ln 32

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$0
FY2024▼ -100%
Expenses
$0
FY2024▼ -100%
Total assets
$684K
FY20240%
Total liabilities
$0
FY2024
Total revenue
$0
Pt VIII · Ln 12
Total expenses
$0
Pt IX · Ln 25
Net assets
$684K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$0
Total assetsPt X · Ln 16$684K
Program-expense ratioPt IX · col B
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 43

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CFuture Legends
EINHdr · item D81-2380227
Principal addressHdr · item CRcho Santa Fe, CA
WebsiteHdr · item Jwww.futurelegendsfund.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MCA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B82)
Ruling yearIRS BMFOct 2016

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1b3
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

1 program service, described in the organization's own filed words · FY2024.
01

Mentoring and scholarships for qualifying college students

Pt IX · col B

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Balance Sheet

Part X · end of year
CashLn 1$44K
Total assetsLn 16$684K
Total liabilitiesLn 26$0
Total net assetsLn 32$684K

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $638K · Operating expenses/yr $0
Highly liquid reserves (cash & marketable securities on Pt X) ÷ monthly operating expenses (Pt IX total, less non-cash grants & depreciation when reported).
Where the money goes
Program services
Program services $0 · Total expenses $0
Management & General
Management & general $0 · Total expenses $0
Fundraising
Fundraising $0 · Total expenses $0
Cost to raise $1
Fundraising expense (3-yr avg) $16K · Solicited contributions (3-yr avg) $234K
$0.07 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $0
Government reliance
Government grants — · Total revenue $0
Earned-income share
Program service revenue $0 · Total revenue $0
Investment reliance
Investment income $0 · Total revenue $0
Program self-sufficiency
Program service revenue $0 · Total expenses $0
Growth & trend
Revenue growth (YoY)
This year $0 · Prior year $314K
-100%
Net-asset trend (YoY)
End of year $684K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $0 · Expenses $0
Liabilities-to-Assets
Total liabilities — · Total assets $684K
Net-asset ratio
Net assets $684K · Total assets $684K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $594K · Total assets (Pt X, ln 16) $684K
87%
People & payroll
Highest Reported Total Compensation
Individual Don Carter · Reported title CHAIRMAN · Highest reported compensation $0 · Total expenses $0
Total expenses not reported — showing dollar figure only
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $0
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth -100%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$232K
Grants paid · 4 grants · $285K · 2020–2023
Unitemized GrantFY2023$122,128
Unitemized GrantFY2022$60,261
Unitemized GrantFY2021$43,195
Unitemized GrantFY2020$59,243

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$0 revenue · viewing · ⤓ 990 PDF
FY2023$314K revenue · ⤓ 990 PDF
FY2022$358K revenue · ⤓ 990 PDF
FY2021$220K revenue · ⤓ 990 PDF
FY2020$135K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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