Futures And Options Inc
- Assets
- $3.3m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 275
- Location
- New York, NY
- Founding
- 06/2000
- Data as of
- 06/2022
- EIN
- 13-4063658
Organization Overview
Futures And Options Inc is located in New York, NY. The organization was established in 2000. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2022, Futures And Options Inc employed 275 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Futures And Options Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Futures And Options Inc generated $4.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.4% each year . All expenses for the organization totaled $3.0m during the year ending 06/2022. While expenses have increased by 8.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
EMPOWERS NYC'S UNDERSERVED YOUTH TO EXPLORE CAREERS, GUIDES THEM TO FURTHER THEIR EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUTURES AND OPTIONS EMPOWERS NEW YORK CITY'S YOUTH, PARTICULARLY YOUTH OF COLOR AND STUDENTS FROM HISTORICALLY UNDERREPRESENTED COMMUNITIES, TO ACQUIRE TRANSFERABLE PROFESSIONAL SKILLS, PURSUE HIGHER EDUCATION, AND SUCCESSFULLY COMPETE IN A GLOBAL 21ST CENTURY ECONOMY. WE COLLABORATE WITH NEW YORK CITY EMPLOYERS TO PROVIDE TRANSFORMATIVE CAREER DEVELOPMENT OPPORTUNITIES TO YOUNG PEOPLE, ENABLING THEM TO SUCCEED IN COLLEGE AND INSPIRING THEM TO PURSUE MEANINGFUL CAREERS. CAREER ESSENTIALS, AN AFTER-SCHOOL WORK-READINESS AND CAREER EXPLORATION PROGRAM, REACHED 312 HIGH SCHOOL STUDENTS IN FY2022. THE INTERNSHIP PROGRAM PROVIDES PAID, MENTORED INTERNSHIPS AND CAREER DEVELOPMENT WORKSHOPS FOR YOUNG PEOPLE FROM ALL FIVE BOROUGHS; IT REACHED 296 STUDENTS WHO WORKED AT 102 BUSINESSES, NONPROFITS, AND GOVERNMENT AGENCIES THROUGHOUT THE CITY. 215 HIGH SCHOOL STUDENTS ATTENDED THE COLLEGE GUIDANCE INITIATIVE TO RECEIVE SUPPORT AND PREPARE FOR THE COLLEGE APPLICATION AND SELECTION PROCESS. OUR ALUMNI ENGAGEMENT PROGRAMS HELP CAREER ESSENTIALS AND INTERNSHIP PROGRAM GRADUATES APPLY THE EXECUTIVE SKILLS THEY DEVELOPED IN OUR PROGRAMS TO THEIR POST-SECONDARY PATHWAYS, BRIDGING THE GAP BETWEEN HIGH SCHOOL AND COLLEGE; 316 ALUMNI PARTICIPATED IN THESE EVENTS LAST YEAR. ON THE ROAD BRINGS FUTURES AND OPTIONS' EXPERTISE AND EXPERIENCE DIRECTLY INTO SCHOOLS AND NONPROFIT ORGANIZATIONS, CONNECTING OUR CURRICULA AND PROGRAMMING TO YOUTH AND YOUTH PROFESSIONALS ACROSS NEW YORK CITY. THROUGH PARTNERSHIPS WITH NONPROFITS AND HIGH SCHOOLS, 457 YOUNG PEOPLE BENEFITTED FROM ON THE ROAD WORKSHOPS IN FY22.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen E Hessler Chair | OfficerTrustee | 1 | $0 |
Cathy Bendert Vice Chair | OfficerTrustee | 1 | $0 |
Lisa Grushkin Vice Chair | OfficerTrustee | 1 | $0 |
Paul Zemsky Vice Chair | OfficerTrustee | 1 | $0 |
Erin Murphy Secretary | OfficerTrustee | 1 | $0 |
Christopher M Snyder Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,641,108 |
| Related organizations | $0 |
| Government grants | $811,538 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,244,764 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,697,410 |
| Total Program Service Revenue | $739,805 |
| Investment income | $219 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,437,434 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $305,845 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $301,743 |
| Compensation of current officers, directors, key employees. | $37,300 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,619,888 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $108,212 |
| Payroll taxes | $170,185 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $142,664 |
| Advertising and promotion | $0 |
| Office expenses | $52,248 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $218,010 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,276 |
| Insurance | $11,183 |
| All other expenses | $4,569 |
| Total functional expenses | $2,991,307 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,764,571 |
| Savings and temporary cash investments | $1,112,442 |
| Pledges and grants receivable | $264,990 |
| Accounts receivable, net | $46,190 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $101,504 |
| Net Land, buildings, and equipment | $10,189 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,299,886 |
| Accounts payable and accrued expenses | $86,621 |
| Grants payable | $0 |
| Deferred revenue | $30,012 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $116,633 |
| Net assets without donor restrictions | $2,638,031 |
| Net assets with donor restrictions | $545,222 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,299,886 |