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Future Legends FY2023 filing

Tax-deductible

Rcho Santa Fe, CA501(c)(3)Education EIN 81-2380227Revenue $314K in FY2023

On file with the IRSfuturelegendsfund.orgPo Box 1873, 92067-1873 · Rcho Santa Fe, CATax-exempt since Oct 2016Publicly supported charity — 170(b)(1)(A)(vi)

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The Future Legends scholarship fund provides deserving scholars working toward a 4-year college degree with a variety of resources they need to succeed. By creating a foundation rich in ethics, citizenship and leadership skills, the program enables recipients to succeed in academics, careers and beyond.

501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $55K a year · 27% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Plus $594K in investments, Pt X · Ln 11–13
Fine: 1.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $232K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 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
$314K
-12% vs prior year
Spent
$311K
To programs
79%
Net assets
$684K
By yearFY2020–FY2024
Revenue
$314K
FY2023▼ -12%
Tap a bar for its year
Revenue by fiscal year
FY2020$135K
FY2021$220K
FY2022$358K
FY2023$314K
FY2024$0
Expenses
$311K
FY2023▲ +98%
Tap a bar for its year
Expenses by fiscal year
FY2020$144K
FY2021$140K
FY2022$157K
FY2023$311K
FY2024$0
Net assets
$684K
FY2023▲ +6%
Tap a bar for its year
Net assets by fiscal year
FY2020$365K
FY2021$445K
FY2022$646K
FY2023$684K
FY2024$684K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2016.

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

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $245K Management & general 14% · $42K Fundraising 8% · $24K

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.

Part VII, Section A · reportable compensation
Eric G Manese
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Steven Sakara
Treasurer
$0Pt VII · Sec A
Vearl Smith
Chairman
$0Pt VII · Sec A
Greg Jackey
Vice Chairman
$0Pt VII · Sec A
Heather Manion
Board Member
$0Pt VII · Sec A
Jessica Kim
Board Member
$0Pt VII · Sec A
See Future Legends 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides resources and builds skills for deserving scholars pursuing four-year college degrees.

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Provided by the organization

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1 program · $245K · in their own filed words · FY2023
01

Mentoring and scholarships for qualifying college students

$245Kprogram 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 · FY2024
Rancho Santa Fe FoundationFY2024$216K
Network for Good INCFY2024$15K
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

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$314K
Ln 12
Gifts and grantsLn 1h$293K
Investment incomeLn 3$14K
Fees for servicesLn 2g$7K
Money outPt IX
$311K
Ln 25
Programscol B$245K
Managementcol C$42K
Fundraisingcol D$24K
Owns and owesPt X
$684K
net assets · Ln 32
Cash and savingsLn 1–2$44K
Total assetsLn 16$684K
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$293K
Fees for servicesLn 2g$7K
Investment incomeLn 3$14K
Gains on assetsLn 7−$84
Total revenueLn 12$314K
Assets in detailPt X, end of year
CashLn 1$44K
Cash and savings togetherLn 1–2$44K
InvestmentsLn 11–13$594K
Other assetsLn 15$46K
Total assetsLn 16$684K
LiabilitiesLn 26$0
Net assetsLn 32$684K
OperationsPt I, VI
EmployeesI 50
VolunteersI 625
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$170K$44K
InvestmentsLn 11–13$473K$594K
Total assetsLn 16$646K$684K
LiabilitiesLn 26$0$0
Net assetsLn 32$646K$684K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$122K$122K
Other fees for servicesLn 11g$83K$58K$17K$8K
Advertising and promotionLn 12$11K$11K
Office expensesLn 13$746$621$125
OccupancyLn 16$9K$9K
TravelLn 17$3K$3K
InsuranceLn 23$8K$8K
Other expenses (24a–d)Ln 24$68K$52K$5K$10K
All other expensesLn 24e$6K$2K$3K$2K
Total functional expensesLn 25$311K$245K$42K$24K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $0$0$0$684K 990 PDF
FY2023 Viewing $314K$311K$2K$684K 990 PDF
FY2022 $358K$157K$201K$646K 990 PDF
FY2021 $220K$140K$80K$445K 990 PDF
FY2020 $135K$144K−$10K$365K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $313,563 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $407,812$292,901
I-9 Program service revenuePrior year $0$6,734
I-10 Investment incomePrior year −$49,766$13,928
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $358,046$313,563
I-13 Grants and similar amounts paidPrior year $60,261$122,128
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $97,152$188,956
I-18 Total expensesPrior year $157,413$311,084
I-19 Revenue less expensesPrior year $200,633$2,479
Part VI · Governance 7 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
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
Part VIII · Statement of revenue $313,563 across 6 lines filed
VIII-1f All other contributions, gifts and grants$292,901
VIII-1h Total contributions, gifts and grants$292,901
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $6,734$6,734
VIII-3 Investment incomeExcluded from tax $14,012$14,012
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$84−$84
VIII-12 Total revenueRelated to mission $6,734 · Unrelated business $0 · Excluded from tax $13,928$313,563
Part IX · Statement of functional expenses $311,084 across 9 lines filed
IX-2 Grants to domestic individualsPrograms $122,128$122,128
IX-11g Other fees for servicesPrograms $58,197 · Management $16,628 · Fundraising $8,314$83,139
IX-12 Advertising and promotionPrograms $10,851$10,851
IX-13 Office expensesManagement $621 · Fundraising $125$746
IX-16 OccupancyManagement $8,971$8,971
IX-17 TravelFundraising $2,980$2,980
IX-23 InsuranceManagement $8,050$8,050
IX-24 Other expenses (24a–d)Programs $52,315 · Management $5,119 · Fundraising $10,410$67,844
IX-24e All other expensesPrograms $1,667 · Management $3,035 · Fundraising $1,673$6,375
IX-25 Total functional expensesPrograms $245,158 · Management $42,424 · Fundraising $23,502$311,084
Part X · Balance sheet $683,861 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $169,597$44,092
X-12 Other securitiesStart of year $473,451$594,043
X-15 Other assetsStart of year $1,260$45,726
X-16 Total assetsStart of year $645,785$683,861
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $645,785$683,861
X-33 Total liabilities and net assetsStart of year $645,785$683,861
Part XI · Reconciliation of net assets $683,861 net assets at year end
XI-1 Total revenue$313,563
XI-2 Total expenses$311,084
XI-3 Revenue less expenses$2,479
XI-4 Net assets at start of year$645,785
XI-5 Net unrealized gains (losses) on investments$35,597
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$683,861

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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