Bright Choice Foundation EIN 86-2742021

Bright Choice Foundation

EIN  86-2742021 Public charity (501(c)(3)) Houston, TX
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Promotes Turkish culture and language through festivals, competitions, and educational trips.
Leadership
Gulay Turgut · Director
Money in and out
$698K revenue, $695K expenses
Bottom line
91% program efficiency

Promotes Turkish culture and language through festivals, competitions, and educational trips. For fiscal year 2024 it reported $698K in revenue, $695K in expenses, and $30K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$698K
Pt VIII · Ln 12
Total expenses
$695K
Pt IX · Ln 25
Net assets
$30K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $3K
Where spending went · Part IX cols B–D
Program services $0.91 Management & general $0.09
Program efficiency
91%
of spending reaches programs▲ +13% vs prior filing year
Operating runway
0.5mo
months of highly liquid reserves at operating expense rate▼ -17% vs prior filing year
Surplus margin
0%
revenue over expenses, this year▲ +104% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$698K
FY2024▲ +42%
Expenses
$695K
FY2024▲ +29%
Total assets
$30K
FY2024▲ +10%
Total liabilities
$0
FY2024
Total revenue
$698K
Pt VIII · Ln 12
Total expenses
$695K
Pt IX · Ln 25
Net assets
$30K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$3K
Total assetsPt X · Ln 16$30K
Program-expense ratioPt IX · col B91%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49
Mission & Programs · Part III

Where the work happens

1 program service account for $636K of program spending, described in the organization's own filed words · FY2024.
01

Achievements include educational and charitable services provided through community centers.

$636Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CBright Choice Foundation
EINHdr · item D86-2742021
Principal addressHdr · item CHouston, TX
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MTX
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B82)
Ruling yearIRS BMFFeb 2022

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aNo
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
Director
$0Pt VII · Sec A
Vice-Chairman
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Assistant Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Zkan Serenli’s $62K as CEO is at the 54th percentile of top reported officer pay among 1616 $100K–1M 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.

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Statement of Revenue

Part VIII
Contributions & grants100%$698K
Total revenueLn 12$698K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.91 Management & general $0.09
Program services91%$636K
Management & general9%$59K
Total functional expensesLn 25$695K

Balance Sheet

Part X · end of year
CashLn 1$30K
Total assetsLn 16$30K
Total liabilitiesLn 26$0
Total net assetsLn 32$30K
Months of cash on handcomputed0.5

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $30K · Operating expenses/yr $695K
0.5 months
Where the money goes
Program services
Program services $636K · Total expenses $695K
91%
Management & General
Management & general $59K · Total expenses $695K
9%
Fundraising
Fundraising $0 · Total expenses $695K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $434K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $698K · Total revenue $698K
100%
Government reliance
Government grants — · Total revenue $698K
Earned-income share
Program service revenue $0 · Total revenue $698K
0%
Investment reliance
Investment income $0 · Total revenue $698K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $695K
0%
Growth & trend
Revenue growth (YoY)
This year $698K · Prior year $493K
+42%
Net-asset trend (YoY)
End of year $30K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $698K · Expenses $695K
0%
Liabilities-to-Assets
Total liabilities — · Total assets $30K
Net-asset ratio
Net assets $30K · Total assets $30K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $30K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Gulay Turgut · Reported title Director · Highest reported compensation $0 · Total expenses $695K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $284K · Total expenses $695K
41%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 91%
Overhead ratio 9%
Fundraising cost ratio 0%
Revenue growth 42%

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 · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$135K

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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)$698K revenue · viewing · ⤓ 990 PDF
FY2023$493K revenue · ⤓ 990 PDF
FY2022$110K 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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