Brighter Horizon FY2023 filing

Tax-deductible

Philadelphia, PA501(c)(3)Foundations & GrantmakersEIN 83-0995509

The purpose of brighter horizon foundation is to operate for educational advancement and for other charitable purposes by the distribution of funds for such purposes and, particulary, to act as a scholarship funding vehicle to help first generation college-pursuing high school students complete a four-year college education, using selection criteria based upon academic and financial need.

501(c)(3) charity; gifts are tax-deductible.
74¢ 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
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
4 of 6
filings with a surplus
Average surplus $85K a year · 18% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
9 mo
of spending, in cash
Looks good: 8.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $52K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$25K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$527K
+3% vs prior year
Spent
$469K
To programs
74%
Net assets
$828K
By yearFY2020–FY2025
Revenue
$527K
FY2023▲ +3%
Revenue by fiscal year
FY2020$369K
FY2021$534K
FY2022$511K
FY2023$527K
FY2024$481K
FY2025$430K
Expenses
$469K
FY2023▲ +20%
Expenses by fiscal year
FY2020$212K
FY2021$299K
FY2022$392K
FY2023$469K
FY2024$533K
FY2025$434K
Net assets
$828K
FY2023▲ +12%
Net assets by fiscal year
FY2020$435K
FY2021$728K
FY2022$741K
FY2023$828K
FY2024$846K
FY2025$917K

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 (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 2019.

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

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $348K Management & general 12% · $58K Fundraising 13% · $63K

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

Who runs it and what they're paid

15 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Chairperson
$0Pt VII · Sec A
Vice Chairperson
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Brighter Horizon 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

Funds scholarships for first-generation college students facing academic and financial challenges.

Provided by the organization

This section is blank until Brighter Horizon claims this page.

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1 program service account for $348K of program spending, described in the organization's own filed words · FY2023.
01

Scholarship Program

The program provideds critical resources to assist first generation students and their families throughout the various stages of the high school to college transition process. Grants commenced in 2020.

$348Kprogram expense

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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
See all 5 funders →
Grants paid · 6 grants · $1.2M · 2020–2025
Unitemized GrantFY2025$310,440
Unitemized GrantFY2024$274,471
Unitemized GrantFY2023$263,969
Unitemized GrantFY2022$184,155
Unitemized GrantFY2021$95,288
Unitemized GrantFY2020$92,421

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$527K
Ln 12
Gifts and grantsLn 1h$567K
Investment incomeLn 3$11K
Money outPt IX
$469K
Ln 25
Programscol B$348K
Managementcol C$58K
Fundraisingcol D$63K
Owns and owesPt X
$828K
net assets · Ln 32
Cash and savingsLn 1–2$338K
Total assetsLn 16$853K
LiabilitiesLn 26$25K
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$567K
Fundraising eventsLn 1c$390K
Investment incomeLn 3$11K
Total revenueLn 12$527K
Assets in detailPt X, end of year
CashLn 1$338K
Cash and savings togetherLn 1–2$338K
InvestmentsLn 11–13$454K
Total assetsLn 16$853K
LiabilitiesLn 26$25K
Net assetsLn 32$828K
OperationsPt I, VI
EmployeesI 50
VolunteersI 633
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 FY23End FY23
Cash and savingsLn 1–2$248K$338K
InvestmentsLn 11–13$408K$454K
Total assetsLn 16$769K$853K
LiabilitiesLn 26$28K$25K
Net assetsLn 32$741K$828K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$264K$264K
Accounting feesLn 11c$14K$14K
Investment management feesLn 11f$4K$4K
Other fees for servicesLn 11g$87K$477$28K$59K
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$12K$11K$2K
Information technologyLn 14$6K$6K
TravelLn 17$28K$28K
InsuranceLn 23$703$703
Other expenses (24a–d)Ln 24$50K$50K$439
All other expensesLn 24e$667$517$150
Total functional expensesLn 25$469K$348K$58K$63K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $430K$434K−$4K$917K 990 PDF
FY2024 $481K$533K−$52K$846K 990 PDF
FY2023 Viewing $527K$469K$58K$828K 990 PDF
FY2022 $511K$392K$119K$741K 990 PDF
FY2021 $534K$299K$234K$728K 990 PDF
FY2020 $369K$212K$157K$435K 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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $526,878 across 7 lines filed
VIII-1c Fundraising events$389,960
VIII-1f All other contributions, gifts and grants$177,095
VIII-1h Total contributions, gifts and grants$567,055
VIII-3 Investment incomeExcluded from tax $11,457$11,457
VIII-8 Net income from fundraising eventsExcluded from tax −$52,950−$52,950
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,316$1,316
VIII-12 Total revenueRelated to mission $1,316 · Unrelated business $0 · Excluded from tax −$41,493$526,878
Part IX · Statement of functional expenses $468,929 across 11 lines filed
IX-2 Grants to domestic individualsPrograms $263,969$263,969
IX-11c Accounting feesManagement $13,790$13,790
IX-11f Investment management feesManagement $4,313$4,313
IX-11g Other fees for servicesPrograms $477 · Management $27,731 · Fundraising $58,634$86,842
IX-12 Advertising and promotionFundraising $2,575$2,575
IX-13 Office expensesManagement $10,642 · Fundraising $1,643$12,285
IX-14 Information technologyPrograms $5,565$5,565
IX-17 TravelPrograms $28,155$28,155
IX-23 InsuranceManagement $703$703
IX-24 Other expenses (24a–d)Programs $49,626 · Management $439$50,065
IX-24e All other expensesManagement $517 · Fundraising $150$667
IX-25 Total functional expensesPrograms $347,792 · Management $58,135 · Fundraising $63,002$468,929
Part X · Balance sheet $852,725 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $248,111$337,648
X-3 Pledges and grants receivableStart of year $99,337$49,272
X-9 Prepaid expenses and deferred chargesStart of year $13,034$12,017
X-11 Publicly traded securitiesStart of year $408,490$453,788
X-16 Total assetsStart of year $768,972$852,725
X-17 Accounts payable and accrued expensesStart of year $27,571$24,888
X-26 Total liabilitiesStart of year $27,571$24,888
X-27 Net assets without donor restrictionsStart of year $617,898$745,232
X-28 Net assets with donor restrictionsStart of year $123,503$82,605
X-32 Total net assets or fund balancesStart of year $741,401$827,837
X-33 Total liabilities and net assetsStart of year $768,972$852,725
Part XI · Reconciliation of net assets $827,837 net assets at year end
XI-1 Total revenue$526,878
XI-2 Total expenses$468,929
XI-3 Revenue less expenses$57,949
XI-4 Net assets at start of year$741,401
XI-5 Net unrealized gains (losses) on investments$28,487
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$827,837

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

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