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Third Future Schools - Texas FY2021 filing

Tax-deductible

Aurora, CO501(c)(3)Since 2020Education EIN 85-0974973Revenue $4.0M in FY2021

On file with the IRSthirdfuture.org431 Sable Blvd, 80011-8800 · Aurora, COTax-exempt since Sep 2020School — 170(b)(1)(A)(ii)

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The charter school is a model for the next generation of Schools, working to prepare students, especially poor and minority students, for the workplace and college.

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
1 of 5
filings with a surplus
Average deficit $1.5M a year · 6% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.0 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $509K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$28K
67% of total assets
Worth a look: liabilities are 67% of assets; over 65%.
Pt X · Ln 26
Independent board members
1
of 1 voting members
Looks good: 1 of 1 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.0M
Spent
$4.0M
To programs
93%
Net assets
$14K
By yearFY2021–FY2025
Revenue
$4.0M
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$4.0M
FY2022$20.4M
FY2023$24.6M
FY2024$51.3M
FY2025$33.5M
Expenses
$4.0M
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$4.0M
FY2022$22.0M
FY2023$25.9M
FY2024$54.0M
FY2025$35.6M
Net assets
$14K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$14K
FY2022−$1.5M
FY2023−$2.7M
FY2024−$5.3M
FY2025−$7.5M

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 Sep 2020.

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

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $3.7M Management & general 7% · $298K

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

2 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
See Third Future Schools - Texas 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

Prepares all students for college starting in pre-K through personalized learning and campus experiences.

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Provided by the organization

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1 program · $3.7M · in their own filed words · FY2020
01

Through the transformation of sam houston, midland isd has created a dynamic collegiate pathway for students in our community starting as young as prekindergarten. The college preparatory model instills the expectation from the first day on campus that every student will go to college.

$3.7Mprogram 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
Third Future SchoolsFY2024$509K
Total grants receivedfrom 1 funder$509K

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$4.0M
Ln 12
Fees for servicesLn 2g$2.9M
Gifts and grantsLn 1h$1.1M
Money outPt IX
$4.0M
Ln 25
Programscol B$3.7M
Managementcol C$298K
Owns and owesPt X
$14K
net assets · Ln 32
Cash and savingsLn 1–2$4K
Total assetsLn 16$42K
LiabilitiesLn 26$28K
PeoplePt VI, VII
2
listed · VII A
PaidVII A0
Voting boardVI 1a1
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1M
Government grantsLn 1e$928K
Fees for servicesLn 2g$2.9M
Total revenueLn 12$4.0M
Assets in detailPt X, end of year
CashLn 1$4K
Cash and savings togetherLn 1–2$4K
Total assetsLn 16$42K
LiabilitiesLn 26$28K
Net assetsLn 32$14K
OperationsPt I, VI
EmployeesI 5529
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$4K
Total assetsLn 16$0$42K
LiabilitiesLn 26$0$28K
Net assetsLn 32$0$14K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$485K$215K$269K
OccupancyLn 16$9K$9K
TravelLn 17$14K$8K$6K
InsuranceLn 23$13K$13K
Other expenses (24a–d)Ln 24$3.5M$3.4M$5K
All other expensesLn 24e$4K$4K
Total functional expensesLn 25$4.0M$3.7M$298K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $33.5M$35.6M−$2.1M−$7.5M 990 PDF
FY2024 $51.3M$54.0M−$2.6M−$5.3M 990 PDF
FY2023 $24.6M$25.9M−$1.2M−$2.7M 990 PDF
FY2022 $20.4M$22.0M−$1.6M−$1.5M 990 PDF
FY2021 Viewing $4.0M$4.0M$14K$14K 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 FY2021 990 (6 parts)
Part I · Summary $3,991,053 revenue, 12 lines filed
I-8 Contributions and grants$1,056,692
I-9 Program service revenue$2,934,361
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenue$3,991,053
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$3,977,396
I-18 Total expenses$3,977,396
I-19 Revenue less expenses$13,657
Part VI · Governance 1 of 1 board members independent, 4 to look at
VI-1a Voting members of the governing body1
VI-1b Independent voting members1
VI-12a Written conflict of interest policyNo
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
Part VIII · Statement of revenue $3,991,053 across 5 lines filed
VIII-1e Government grants$928,449
VIII-1f All other contributions, gifts and grants$128,243
VIII-1h Total contributions, gifts and grants$1,056,692
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,934,361$2,934,361
VIII-12 Total revenueRelated to mission $2,934,361$3,991,053
Part IX · Statement of functional expenses $3,977,396 across 6 lines filed
IX-11a Management feesPrograms $215,063 · Management $269,484$484,547
IX-16 OccupancyPrograms $9,173$9,173
IX-17 TravelPrograms $8,211 · Management $6,056$14,267
IX-23 InsuranceManagement $13,216$13,216
IX-24 Other expenses (24a–d)Programs $3,446,876 · Management $5,298$3,452,174
IX-24e All other expensesManagement $4,019$4,019
IX-25 Total functional expensesPrograms $3,679,323 · Management $298,073 · Fundraising $0$3,977,396
Part X · Balance sheet $41,913 assets, 8 lines filed
X-1 Cash, non-interest-bearing$4,115
X-3 Pledges and grants receivable$37,798
X-16 Total assetsStart of year $0$41,913
X-17 Accounts payable and accrued expenses$28,256
X-26 Total liabilitiesStart of year $0$28,256
X-27 Net assets without donor restrictions$13,657
X-32 Total net assets or fund balancesStart of year $0$13,657
X-33 Total liabilities and net assetsStart of year $0$41,913
Part XI · Reconciliation of net assets $13,657 net assets at year end
XI-1 Total revenue$3,991,053
XI-2 Total expenses$3,977,396
XI-3 Revenue less expenses$13,657
XI-10 Net assets at end of year$13,657

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

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