Designing Futures Foundation
- Assets
- $128.1k
- Revenue
- $542.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Marlton, NJ
- Founding
- 11/2004
- Data as of
- 06/2021
- EIN
- 20-0335146
Organization Overview
Designing Futures Foundation is located in Marlton, NJ. The organization was established in 2004. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Designing Futures Foundation 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 06/2021, Designing Futures Foundation generated $542.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (16.2%) each year. All expenses for the organization totaled $1.7m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORT FOR PUBLIC EDUCATIONAL ORGANIZATIONS THAT NORMALLY MAINTAIN A REGULAR FACULTY AND CURRICULUM AND NORMALLY HAVE A REGULARLY ENROLLED BODY OF PUPILS OR STUDENTS IN ATTENDANCE AT THE PLACE WHERE ITS EDUCATIONAL ACTIVITIES ARE REGULARLY CARRIED ON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FINANCIAL SUPPORT FOR THE CHARTER HIGH SCHOOL FOR ARCHITECTURE AND DESIGN, WHICH CLOSED ON JUNE 30, 2020
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lance Rothstein President | Trustee | 2 | $0 |
Lauren Dougherty Vice President | Trustee | 2 | $0 |
Monique Mccray Secretary | Trustee | 2 | $0 |
Anthony Ewing Member | Trustee | 2 | $0 |
Harold Brady CEO | Trustee | 2 | $0 |
David Annecharico Legal Counsel | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,000 |
| Investment income | $17,817 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $514,839 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $542,656 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $956 |
| Fees for services: Legal | $148,710 |
| Fees for services: Accounting | $10,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,752 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,933 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,724,473 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $103,107 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $25,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $128,107 |
| Accounts payable and accrued expenses | $98,024 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $98,024 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $30,083 |
Grants Awarded
Over the last fiscal year, Designing Futures Foundation has awarded $1,350,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CHARTER HIGH SCHOOL FOR ARCHITECTURE AND DESIGN PURPOSE: TO PROVIDE FUNDS TO ASSIST WITH REMAINING EXPENDITURE LIABILITIES POST CLOSING, WHICH OCCURRED ON JUNE 30, 2020. | $450,500 |
DESIGNING FUTURES CHARITABLE CORPORATION PURPOSE: TO FUND INITIAL OPERATIONS OF THE NEW ORGANIZATION FROM EXCESS FUNDS FROM SALE OF ASSETS | $900,000 |