Bright Future Fund FY2023 filing

Washington, DC · Unknown exempt organization

Latest data FY2023
Revenue
$143.1M
Spent
$88K
To programs
82%
Net assets
$143.1M
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Form 990 for the fiscal year ending December 2023 (IRS tax year 2023).

Status and standing

Tax-deductible?
Not on file
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Yes — filed FY2025
Foundation funders?
2 funders, incl. Fidelity Investments Charitable Gift Fund
$37.5M in the latest grant year.
Spent on programs?
82% to programs
Form 990 Part IX, latest filing.
Size and trend
<$100K
Legal name (IRS)Hdr · item CBright Future Fund
EINHdr · item D93-4678619
Exempt statusHdr · item I501(c)(3) · active
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CWashington, DC
NTEE classificationIRS BMFNonprofit
WebsiteHdr · item Jbrightfuturefundusa.org

Where the money goes

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.82 Management & general $0.18
Program services82%$72K
Management & general18%$16K
Total functional expensesLn 25$88K

Financial health

Revenue & expenses by yearFY2023–FY2025
Revenue
$143.1M
FY2023
Expenses
$88K
FY2023
Surplus margin
+100%
revenue over expenses, this year
Program spending
82%
of expenses reach programs

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Total assets
$143.1M
FY2023
Total liabilities
$88K
FY2023
Revenue less expensesPt I · Ln 19$143.1M
Total assetsPt X · Ln 16$143.1M
Program-expense ratioPt IX · col B82%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 43

Balance Sheet

Part X · end of year
CashLn 1$143.1M
Total assetsLn 16$143.1M
Total liabilitiesLn 26$88K
Total net assetsLn 32$143.1M
Months of cash on handcomputed19493.2

Statement of Revenue

Part VIII
Contributions & grants$142.4M · 99%
Investment income$746K · 1%
Contributions & grants99%$142.4M
Investment income1%$746K
Total revenueLn 12$143.1M

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $143.1M · Operating expenses (Pt IX) $88K · Less non-cash grants $70.4M · Cash operating expenses/yr $-70.3M
Highly liquid reserves (cash & marketable securities on Pt X) ÷ monthly operating expenses (Pt IX total, less non-cash grants & depreciation when reported).
Where the money goes
Program services
Program services $72K · Total expenses $88K
82%
Management & General
Management & general $16K · Total expenses $88K
18%
Fundraising
Fundraising $0 · Total expenses $88K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $142.4M
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $142.4M · Total revenue $143.1M
99%
Government reliance
Government grants — · Total revenue $143.1M
—
Earned-income share
Program service revenue $0 · Total revenue $143.1M
0%
Investment reliance
Investment income $746K · Total revenue $143.1M
+0.5%
Program self-sufficiency
Program service revenue $0 · Total expenses $88K
0%
Growth & trend
Revenue growth (YoY)
This year $143.1M · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $143.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $143.1M · Expenses $88K
+100%
Liabilities-to-Assets
Total liabilities — · Total assets $143.1M
—
Net-asset ratio
Net assets $143.1M · Total assets $143.1M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $143.1M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Preston Elliott · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $88K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $88K
—
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 82%——
Overhead ratio 18%——
Fundraising cost ratio 0%——
Legal fee ratio 9%——

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.

Leadership and pay

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Bright Future Fund executive salaries →

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Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1b3
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Mission and programs

Supports projects strengthening the economy and protecting reproductive rights for a fairer America.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

3 program services account for $72K of program spending, described in the organization's own filed words · FY2023.
01

Strengthening the Middle Class

Helping lower costs for american families and advocating for pro-worker public policies including higher wages, paid family and medical leave, and the rights of workers to form a union.

$34Kprogram expense
02

Promoting Democracy and Civic Participation

Encouraging civic participation by all americans.

$32Kprogram expense
03

Protecting Women's Rights

Working to protect abortion rights and access to reproductive healthcare for women across america.

$6Kprogram expense

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Funders

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 2 funders$37.5M
Grants paid · 53 grants · $182.1M · 2024–2024
Future Forward USA ActionFY2024$20,835,000
Our American Future ActionDC · FY2024$20,000,000
Working AmericaDC · FY2024$14,500,000
Rapid Resist ActionIL · FY2024$12,400,000
Workmoney Foundation INCWI · FY2024$10,000,000
Working America Education FundDC · FY2024$10,000,000
Forward Majority ActionFY2024$7,790,000
Center for Voter InformationDC · FY2024$6,700,000
Workmoney INCWI · FY2024$6,500,000
Majority ForwardDC · FY2024$5,350,000
Focus for Democracy ActionDC · FY2024$4,500,000
PivotpacFY2024$4,330,000
Future Now ActionDC · FY2024$4,000,000
Sixteen Thirty FundDC · FY2024$3,500,000
People's Action PowerFY2024$3,450,000
DemocracyfirstFY2024$2,940,000
See all 53 grants →

Filing history

YearRevenueExpensesChangeFiling
FY2025 Latest $15K—-100% 990 PDF
FY2024 $40.6M$182.7M-72% 990 PDF
FY2023 Viewing $143.1M$88K 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

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) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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