Third Future Schools - Louisiana: Nonprofit Profile, Financials & Form 990 (EIN 93-1638103)

Revenue by fiscal year
FY2024	$6.0M
FY2024	$13.3M

Expenses by fiscal year
FY2024	$6.7M
FY2024	$11.8M

Net assets by fiscal year
FY2024	−$758K
FY2024	$773K

Third Future Schools - Louisiana Form 990 (PDF) Claim this org

Form 990 (PDF) Claim

Status and standing

Is it real, and can you give to it?

Tax-deductible?

Yes

Per the IRS master file.

Can I give now?

No revocation on IRS record

Not on the IRS revocation list.

Filing up to date?

Filed FY2024 (typical filing lag)

Legal name (IRS)Hdr · item CThird Future Schools - Louisiana

EINHdr · item D93-1638103

Exempt statusHdr · item I501(c)(3) · active

Ruling yearIRS BMFJun 2024

Year of formationHdr · item L2023

Latest filingForm 990FY2024 · Form 990

Principal addressHdr · item CBaton Rouge, LA

NTEE classificationIRS BMFHuman Services (P20)

Part of a larger organization · Schedule R

Third Future Schools - Louisiana files its own Form 990, but Schedule R discloses 4 related entities — figures on this page are for this EIN only, not the whole group.

Third Future Schools · Third Future Schools - Texas · Third Future Schools · Third Future Schools - Texas · See Schedule R

Combined filings · FY2024 · 3 entities with data

Simple sum of each entity's Form 990 headline figures — not audited consolidated financials. This page's EIN is 18% of group revenue.

Group revenue

$71.8M

Group expenses

$69.7M

Group net assets

−$26.4M

Third Future Schools · $25.1M rev · −$19.7M net assets

Third Future Schools - Texas · $33.5M rev · −$7.5M net assets

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising

Allocation · columns B–D

66%

34%

Program services $0.66 Management & general $0.34

Program services66%$7.8M

Management & general34%$3.9M

Total functional expensesLn 25$11.8M

Finances

Money in and out, what it owns and owes

Spent on programs

66%

of spending reaches programs▼ -13% vs prior filing year

Months of spending covered by cash

0.8mo

months of spending covered by cash and easy-to-sell investments

Surplus or deficit

+11%

as % of revenue, this year▲ +191% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990

Total assets

$2.1M

FY2024▲ +631%

Total assets by fiscal year
FY2024	$292K
FY2024	$2.1M

Total liabilities

$1.4M

FY2024▲ +30%

Total liabilities by fiscal year
FY2024	$1.1M
FY2024	$1.4M

Revenue less expensesPt I · Ln 19$1.5M

Total assetsPt X · Ln 16$2.1M

Spent on programsPt IX · col B66%

Voting members of governing bodyPt I · Ln 35

Independent voting membersPt I · Ln 45

Balance Sheet

Part X · end of year

CashLn 1$823K

Total assetsLn 16$2.1M

Total liabilitiesLn 26$1.4M

Total net assetsLn 32$773K

Months of cash on handcomputed0.8

Statement of Revenue

Part VIII

Contributions & grants100%$13.3M

Other revenue$350

— government grantsLn 1e$12.9M

Total revenueLn 12$13.3M

Money in detail

Form 990 · FY2024 · each figure shown with the dollars behind it

Cash and giving out

Months of spending covered by cash

Cash and easy-to-sell investments $823K · Operating expenses/yr $11.8M

0.8 months

Where the money goes

Program services

Program services $7.8M · Total expenses $11.8M

66%

Management & General

Management & general $3.9M · Total expenses $11.8M

34%

Fundraising

Fundraising $0 · Total expenses $11.8M

Cost to raise $1

Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $1.1M

Solicited contributions below reporting floor

Where the money comes from

Contribution dependence

Contributions & grants $13.3M · Total revenue $13.3M

100%

Government reliance

Government grants $12.9M · Total revenue $13.3M

97%

Earned-income share

Program service revenue $0 · Total revenue $13.3M

Investment reliance

Investment income $0 · Total revenue $13.3M

Program self-sufficiency

Program service revenue $0 · Total expenses $11.8M

Growth & trend

Revenue change from last year

This year $13.3M · Prior year $6.0M

+122%

Net assets change over the year

End of year $773K · Beginning of year —

Beginning net assets not meaningfully positive — showing dollar change

Balance sheet

Surplus or deficit, as % of revenue

Revenue $13.3M · Expenses $11.8M

+11%

Debts compared to what it owns

Total liabilities — · Total assets $2.1M

—

Net assets compared to what it owns

Net assets $773K · Total assets $2.1M

36%

Marketable Investment Share

Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $2.1M

Excludes program-related investments (Pt X, ln 13)

People & payroll

Highest Reported Total Compensation

Individual Michael Williams · Reported title SECRETARY/TREASURER · Highest reported compensation $0 · Total expenses $11.8M

Personnel share

Salaries, benefits & payroll (Pt IX 5-10) $7.3M · Total expenses $11.8M

62%

Peer comparison

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

Metric	This org	Peer median	Percentile
Spent on programs	66%	—	—
Spent on management, % of spending	34%	—	—
Revenue growth	122%	—	—

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

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation

Michael Williams

Secretary/Treasurer

$0Pt VII · Sec A

Kara Maggorie

Board Member

$0Pt VII · Sec A

Baraynia Robillard

Board Member

$0Pt VII · Sec A

Nelsens Peters

Director

$0Pt VII · Sec A

Ashley Bennett

Director

$0Pt VII · Sec A

Zach Craddock

Superintendent

$0Pt VII · Sec A

Jessica Lopez

Chief of Staff

$0Pt VII · Sec A

Shirley Miles PHD

Deputy Chief of Schools an

$0Pt VII · Sec A

See Third Future Schools - Louisiana executive salaries →

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Governance & Policies

Part VI

5Voting board membersPt VI · Ln 1a
5Independent board membersPt VI · Ln 1b
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
Top official’s pay independently reviewedPt VI · Ln 15aNo
Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Improves education through whole-scale reform, focusing on high-quality instruction and student growth for future competencies.

Provided by the organization

This section is blank until Third Future Schools - Louisiana claims this page.

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Mission & Programs · Part III

Where the work happens

1 program service account for $7.8M of program spending, described in the organization's own filed words · FY2024.

Expansion into more districts providing a high quality education for at-risk students in impoverished areas, closing the achievement gap as measured by nwea map assessment with network scores showing more than one year's growth, continuing development of leadership capacity to provide great school administrators at all campuses.

$7.8Mprogram 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 · funders on record

Grants received · FY2024

Third Future SchoolsFY2024$94K

Total grants receivedfrom 1 funder$94K

Filing history

Every return on file.

Year	Revenue	Expenses	Change	Filing
FY2024	$6.0M	$6.7M		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

Full filing: Form 990 for FY2024

Every line we hold from the return, cited to its Part and line.

Part VIII · Statement of revenue $13,273,762 across 5 lines filed

VIII-1e Government grants$12,891,224

VIII-1f All other contributions, gifts and grants$382,188

VIII-1h Total contributions, gifts and grants$13,273,412

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $350$350

VIII-12 Total revenueRelated to mission $350 · Unrelated business $0 · Excluded from tax $0$13,273,762

Part IX · Statement of functional expenses $11,753,403 across 15 lines filed

IX-7 Other salaries and wagesPrograms $4,611,612 · Management $1,596,433$6,208,045

IX-8 Pension plan contributionsPrograms $9,037 · Management $6,126$15,163

IX-9 Other employee benefitsPrograms $440,808 · Management $250,752$691,560

IX-10 Payroll taxesPrograms $272,026 · Management $88,178$360,204

IX-11b Legal feesManagement $63,365$63,365

IX-11c Accounting feesManagement $27,266$27,266

IX-11g Other fees for servicesPrograms $2,013,944 · Management $313,445$2,327,389

IX-12 Advertising and promotionManagement $3,000$3,000

IX-14 Information technologyPrograms $94,490 · Management $48,998$143,488

IX-16 OccupancyManagement $497,761$497,761

IX-17 TravelManagement $276,677$276,677

IX-22 Depreciation, depletion and amortizationPrograms $1,378$1,378

IX-23 InsuranceManagement $112,341$112,341

IX-24 Other expenses (24a–d)Programs $351,954 · Management $544,845$896,799

IX-24e All other expensesPrograms $13,561 · Management $115,406$128,967

IX-25 Total functional expensesPrograms $7,808,810 · Management $3,944,593 · Fundraising $0$11,753,403

Part X · Balance sheet $2,136,412 assets, 12 lines filed

X-1 Cash, non-interest-bearing$822,799

X-3 Pledges and grants receivableStart of year $5,507$428,530

X-9 Prepaid expenses and deferred charges$470,691

X-10c Land, buildings and equipment, netStart of year $12,512$11,134

X-15 Other assetsStart of year $265,231$403,258

X-16 Total assetsStart of year $292,353$2,136,412

X-17 Accounts payable and accrued expensesStart of year $793,984$1,255,340

X-25 Other liabilitiesStart of year $85,518$37,838

X-26 Total liabilitiesStart of year $1,050,194$1,362,939

X-27 Net assets without donor restrictionsStart of year −$757,841$773,473

X-32 Total net assets or fund balancesStart of year −$757,841$773,473

X-33 Total liabilities and net assetsStart of year $292,353$2,136,412

Part XI · Reconciliation of net assets $773,473 net assets at year end

XI-1 Total revenue$13,273,762

XI-2 Total expenses$11,753,403

XI-3 Revenue less expenses$1,520,359

XI-4 Net assets at start of year−$757,841

XI-8 Prior period adjustments$10,955

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$773,473

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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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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Third Future Schools - Louisiana

Before you give

Status and standing

Where the money goes

Statement of Functional Expenses

Finances

Summary of the Filing

Balance Sheet

Statement of Revenue

Money in detail

Leadership and pay

Officers, Directors & Key Employees

Governance & Policies

Mission and programs

Where the work happens

Funders

Grants

Related Organizations

Filing history

Schedules filed Part IV

Full filing: Form 990 for FY2024

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