Open Future Institute
- Assets
- $613.5k
- Revenue
- $546.2k
- Investments
- $0.0
- Employees
- 5
- Location
- New York, NY
- Founding
- 02/2014
- Data as of
- 12/2021
- EIN
- 45-5494252
Organization Overview
Open Future Institute is located in New York, NY. The organization was established in 2014. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Open Future Institute employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Open Future Institute 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 12/2021, Open Future Institute generated $546.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.0% each year . All expenses for the organization totaled $431.8k during the year ending 12/2021. While expenses have increased by 15.4% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE STUDENTS WITH VISION AND CORE VALUES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE QUESTION PROJECT PROVIDES FORUMS FOR HIGH SCHOOL AND UNIVERSITY STUDENTS GLOBALLY TO REFLECT ON THEIR BELIEFS, VALUES, AND PURPOSE. IT IS DESIGNED TO GIVE STUDENTS AN OPPORTUNITY TO ENGAGE AUTHENTICALLY WITH THEIR CORE VALUES AND HOW THEY DEFINE MEANING AT A STAGE IN THEIR LIVES WHEN THEY BEGIN MAKING CHOICES THAT WILL SET THE TRAJECTORY OF THEIR FUTURE. THIS INITIATIVE AIMS TO SUPPORT STUDENTS' SENSE OF RESPONSIBILITY TO THE GREATER SOCIETY, THEIR POTENTIAL FOR INSPIRED LEADERSHIP, AND THEIR CAPACITY TO RESPOND CREATIVELY TO THE PRESSING NEEDS OF OUR TIME WITH VISION AND PURPOSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Francesca Rusciani Co-Founder & Executive Dir | OfficerTrustee | 40 | $85,000 |
Gerard Senehi Founder President & Chair | OfficerTrustee | 20 | $0 |
Nazir Ahmad Secretary | OfficerTrustee | 1 | $0 |
David Adler Treasurer | OfficerTrustee | 1 | $0 |
Daniel Stone Director | Trustee | 1 | $0 |
Mumtaz A Kazim Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $43,957 |
| All other contributions, gifts, grants, and similar amounts not included above | $408,758 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $452,715 |
| Total Program Service Revenue | $93,500 |
| Investment income | $0 |
| 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 | $546,215 |
| 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. | $112,078 |
| Compensation of current officers, directors, key employees. | $4,761 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $145,417 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,178 |
| Payroll taxes | $18,030 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $105 |
| Fees for services: Accounting | $5,345 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $375 |
| Advertising and promotion | $0 |
| Office expenses | $11,220 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $36,000 |
| 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 | $0 |
| Insurance | $3,095 |
| All other expenses | $0 |
| Total functional expenses | $431,845 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $610,530 |
| 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 | $3,000 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $613,530 |
| Accounts payable and accrued expenses | $784 |
| 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 | $784 |
| Net assets without donor restrictions | $612,746 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $613,530 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Open Future Institute has recieved totaling $3,000.
| Awarding Organization | Amount |
|---|---|
Georgescu Family Foundation Westport, CT PURPOSE: GENERL BUSINESS | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Shed Nyc Inc New York, NY | $621,442,218 | $102,270,782 |
Westchester Academic Library Directors Organization Inc New York, NY | $47,276,623 | $38,534,511 |
Pro Publica Inc New York, NY | $60,782,681 | $36,005,300 |
Pittsburgh Trust For Cultural Resources Pittsburgh, PA | $189,016,990 | $50,601,813 |
Dia Center For The Arts Inc New York, NY | $215,209,262 | $19,693,933 |
Munson-Williams-Proctor Arts Institute Utica, NY | $139,434,457 | $25,944,561 |
Bethel Woods Center For The Arts Inc Liberty, NY | $30,099,296 | $24,809,456 |
Artsquest Bethlehem, PA | $46,615,180 | $27,430,533 |
Lincoln Park Performing Arts Center Midland, PA | $37,610,958 | $11,880,429 |
Joan Mitchell Foundation Inc New York, NY | $163,093,074 | $7,287,755 |
African American Cultural Center Pittsburgh, PA | $15,275,830 | $8,128,417 |
Pioneer Works Art Foundation Brooklyn, NY | $17,838,425 | $7,041,619 |