Future Business Leaders Of America- Phi Beta Lambda Inc
- Assets
- $10.4m
- Revenue
- $583.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Reston, VA
- Founding
- 10/1971
- Data as of
- 07/2021
- EIN
- 23-7157445
Organization Overview
Future Business Leaders Of America- Phi Beta Lambda Inc is located in Reston, VA. The organization was established in 1971. According to its NTEE Classification (O53) the organization is classified as: Youth Development - Business, under the broad grouping of Youth Development and related organizations. This organization is a parent organization of an affiliated group for tax-exemption purposes. Future Business Leaders Of America- Phi Beta Lambda 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 07/2021, Future Business Leaders Of America- Phi Beta Lambda Inc generated $583.6k 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 (25.7%) each year. All expenses for the organization totaled $602.1k during the year ending 07/2021. As we would expect to see with falling revenues, expenses have declined by (25.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
INSPIRES AND PREPARES STUDENTS TO BECOME COMMUNITY-MINDED BUSINESS LEADERS IN A GLOBAL SOCIETY THROUGH RELEVANT CAREER PREPARATION AND LEADERSHIP EXPERIENCES.
Describe the Organization's Program Activity:
CONFERENCES: FBLA-PBL'S NATIONAL CONFERENCES HELP STUDENTS PREPARE FOR CAREERS IN BUSINESS BY FOCUSING ON ACADEMIC COMPETITIONS (NATIONAL AWARDS PROGRAM) AND LEADERSHIP DEVELOPMENT. IN THE FALL OF 2020, THE PANDEMIC IMPACTED FBLA-PBL'S DELIVERY OF CONFERENCES TO MEMBERS, BUT THE ORGANIZATION WAS ABLE TO HOST AN ONLINE NATIONAL LEADERSHIP CONFERENCE IN JUNE 2021 AND THROUGH JULY 2, 2021 FOR THE THREE STUDENT-MEMBER DIVISIONS. THE REGISTRATION WAS 12,085, EXCEEDING THE 2020 NATIONAL LEADERSHIP EXPERIENCE THE PREVIOUS YEAR BY NEARLY 1000 ATTENDEES. AT THIS ONLINE CONFERENCE, ATTENDEES WERE ABLE TO PARTICIPATE IN MORE THAN 50 WORKSHOPS, LEARN FROM KEYNOTE SPEAKERS, AND ENGAGE WITH OTHER ATTENDEES VIA THE CONFERENCE APP.
MEMBERSHIP:FBLA-PBL IS THE LARGEST CAREER STUDENT BUSINESS ORGANIZATION IN THE WORLD. REPRESENTING MIDDLE SCHOOL, HIGH SCHOOL, AND COLLEGE, MEMBERS CONTRIBUTE TO THEIR COMMUNITIES AND SCHOOLS WHILE MAXIMIZING THEIR OWN POTENTIAL. IN JULY 2021 THERE WERE THREE DIVISIONS FOR FBLA-PBL.FBLA (HIGH SCHOOL), FBLA-MIDDLE LEVEL (JUNIOR HIGH SCHOOL), AND PBL (COLLEGIATE).FBLA, WHICH IS THE SECONDARY DIVISION, MAKES UP 89% OF THE TOTAL MEMBERSHIP, WITH FBLA-MIDDLE LEVEL, MAKING UP ANOTHER 7%. AS OF THE END OF JULY THERE IS A COMBINED TOTAL OF 114,251 IN ALL THREE DIVISIONS COMBINED AND A TOTAL OF 4,729 ACTIVE CHAPTERS.
NATIONAL OFFICERS:THERE ARE NINE FBLA NATIONAL OFFICERS WHO REPRESENT FBLA'S MEMBERSHIP AND SIX PBL NATIONAL OFFICERS WHO REPRESENT PBL'S MEMBERSHIP. THROUGHOUT THE YEAR, THE TEAM INTERACTS WITH THE MEMBERSHIP TO IMPLEMENT AND ENHANCE FBLA-PBL PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Seuferer Chair | OfficerTrustee | 5 | $0 |
Kristen Di Stefano Secretary | OfficerTrustee | 1 | $0 |
Robert J Kollar Treasurer | OfficerTrustee | 1 | $0 |
Ryan Paul Chair-Elect | OfficerTrustee | 1 | $0 |
Alexander T Graham President & CEO | Officer | 40 | $0 |
Ellie Murphy Pbl National President | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Strive3 Video Production | 6/29/21 | $146,274 |
O'connor Consulting Services Llc Consulting Services | 6/29/21 | $225,052 |
Delcor Technology Solutions Inc It Services | 6/29/21 | $173,867 |
Higher Logic Llc It Software Services | 6/29/21 | $174,542 |
Edge Productions Online Event Production | 6/29/21 | $128,435 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,925 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,925 |
| Total Program Service Revenue | $396,336 |
| Investment income | $5,764 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,521 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $127,900 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $583,574 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $43,606 |
| Compensation of current officers, directors, key employees. | $12,092 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $96,277 |
| Pension plan accruals and contributions | $6,739 |
| Other employee benefits | $22,145 |
| Payroll taxes | $8,889 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,340 |
| Fees for services: Accounting | $8,008 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,025 |
| Fees for services: Other | $209,837 |
| Advertising and promotion | $0 |
| Office expenses | $134,100 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,725 |
| Travel | $53,692 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,225 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | -$11,676 |
| Insurance | $7,539 |
| All other expenses | $3,634 |
| Total functional expenses | $602,105 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $66,749 |
| Savings and temporary cash investments | $172,832 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,189 |
| 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 | $203,720 |
| Net Land, buildings, and equipment | $713,276 |
| Investments—publicly traded securities | $9,144,456 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $116,960 |
| Total assets | $10,435,182 |
| Accounts payable and accrued expenses | $402,647 |
| Grants payable | $0 |
| Deferred revenue | $7,000 |
| 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 | $202,444 |
| Other liabilities | $39,895 |
| Total liabilities | $651,986 |
| Net assets without donor restrictions | $9,302,499 |
| Net assets with donor restrictions | $480,697 |
| 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 | $10,435,182 |
Grants Awarded
Over the last fiscal year, Future Business Leaders Of America- Phi Beta Lambda Inc has awarded $25,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Washington, DC PURPOSE: GENERAL SUPPORT | $15,000 |
Owasso, OK PURPOSE: FINANCIAL LITERACY GRANT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Future Business Leaders Of America- Phi Beta Lambda Inc has recieved totaling $19,808.
| Awarding Organization | Amount |
|---|---|
March Of Dimes Inc Arlington, VA PURPOSE: COMMUNITY | $19,808 |
Endowment Analysis
| Beg. Balance | $223,118 |
| Earnings | $2,152 |
| Admin Expense | $10,900 |
| Ending Balance | $214,370 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Students Of Georgetown Inc Washington, DC | $1,825,753 | $1,878,244 |
Core Inc Washington, DC | $1,570,238 | $1,229,235 |
Youth Venture Inc Arlington, VA | $1,779,161 | $1,481,791 |
L I F E Skills Foundation Durham, NC | $1,880,740 | $554,116 |
Young Americas Business Trust Washington DC, DC | $34,228 | $546,592 |
Future Business Leaders Of America- Phi Beta Lambda Inc Reston, VA | $10,435,182 | $583,574 |
Camp Living Stones Inc Englewood, TN | $1,120,126 | $494,096 |
Envisionleadgrow Inc Norfolk, VA | $251,421 | $402,061 |
Conscious Capitalist Group Foundation Inc Richmond, VA | $12,408 | $0 |
Neighborhood Lets Count It Up And Build It Up Memphis, TN | $349,341 | $424,235 |
Bowling Green Area Chamberfoundation Inc Bowling Green, KY | $519,224 | $199,162 |
Take Our Daughters & Sons To Work Foundation Elizabeth City, NC | $18,188 | $0 |