Future Of Life Institute
- Assets
- $2.4m
- Revenue
- $482.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Narberth, PA
- Founding
- 07/2014
- Data as of
- 12/2020
- EIN
- 47-1052538
Organization Overview
Future Of Life Institute is located in Narberth, PA. The organization was established in 2014. According to its NTEE Classification (U99) the organization is classified as: Science & Technology N.E.C., under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Future Of Life 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 12/2020, Future Of Life Institute generated $482.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (21.8%) each year. All expenses for the organization totaled $468.8k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (19.4%) per year over the past 6 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
CATALYZE AND SUPPORT RESEARCH AND INITIATIVES FOR SAFEGUARDING LIFE AND DEVELOPING OPTIMISTIC VISIONS OF THE FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT RESEARCH, ORGANIZE CONFERENCES AND PROVIDE EDUCATIONAL MATERIALS TO SUPPORT THE ORGANIZATION'S MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Max Tegmark President | OfficerTrustee | 5 | $0 |
Meia Chita-Tegmark Treasurer | OfficerTrustee | 5 | $0 |
Anthony Aguirre Secretary | Trustee | 3 | $0 |
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 | $481,825 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $481,825 |
| Total Program Service Revenue | $0 |
| Investment income | $654 |
| 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 | $482,479 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $38,500 |
| Grants and other assistance to domestic individuals. | $100,604 |
| 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 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 | $0 |
| Fees for services: Legal | $2,753 |
| Fees for services: Accounting | $624 |
| Fees for services: Lobbying | $29,042 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $266,351 |
| Advertising and promotion | $1,458 |
| Office expenses | $0 |
| Information technology | $9,542 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,462 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,736 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $468,809 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,333,027 |
| Savings and temporary cash investments | $1,027,184 |
| 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 | $0 |
| 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 | $2,360,211 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $2,360,211 |
| 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 | $2,360,211 |
Grants Awarded
Over the last fiscal year, Future Of Life Institute has awarded $38,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Piscataway, NJ PURPOSE: SUPPORT RESEARCH AND OUTREACH | $37,500 |
Peterborough, NH PURPOSE: SUPPORT OUTREACH | $1,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Future Of Life Institute has recieved totaling $32,382.
| Awarding Organization | Amount |
|---|---|
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Sciences | $17,200 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $15,182 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Northwest Institute Of Research Inc Erie, PA | $4,835,958 | $44,694,809 |
American Association For Laboratory Accreditation Frederick, MD | $14,574,609 | $21,308,917 |
Hyacinth Foundation A New Jersey Nonprofit Corporation New Brunswick, NJ | $2,127,419 | $9,677,408 |
University Of Maryland Psychiatry Associates P A Baltimore, MD | $10,617,628 | $4,863,213 |
West Virginia University Innovation Corporation Morgantown, WV | $2,905,835 | $5,942,099 |
Board Of Certification Accreditation International Owings Mills, MD | $5,575,495 | $5,362,772 |
National Caregiving Foundation Dunkirk, MD | $1,366,084 | $4,115,754 |
American Vacuum Society Incorporated New York, NY | $15,639,477 | $3,580,323 |
Students 2 Science East Hanover, NJ | $4,913,280 | $4,122,884 |
Art Science Research Laboratory Inc New York, NY | $240,453 | $3,090,633 |
New York Wine Grape Foundation Penn Yan, NY | $1,037,774 | $2,662,535 |
Fragrance Foundation Inc New York, NY | $4,383,743 | $2,574,957 |