Bright Prospect
- Assets
- $3.3m
- Revenue
- $2.7m
- Investments
- $1.0m
- Employees
- 24
- Location
- Pomona, CA
- Founding
- 05/2002
- Data as of
- 06/2022
- EIN
- 52-2363234
Organization Overview
Bright Prospect is located in Pomona, CA. The organization was established in 2002. 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, Bright Prospect employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bright Prospect 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, Bright Prospect generated $2.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $1.9m during the year ending 06/2022. 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
BRIGHT PROSPECT EMPOWERS FIRST GENERATION LOW-INCOME STUDENTS TO GAIN ADMISSION, TO SUCCEED IN, AND GRADUATE FROM COLLEGES AND UNIVERSITIES BY PROVIDING A COMPREHENSIVE COUNSELING AND SUPPORT SYSTEM THROUGHOUT THEIR HIGH SCHOOL AND COLLEGE YEARS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BRIGHT PROSPECT RECRUITS ANY STUDENT WHO WANTS TO JOIN AS OF THE 9TH GRADE, GUIDING THEM TOWARD COLLEGE. WE THEN CONTINUE TO ADVISE AND SUPPORT OUR STUDENTS UNTIL THEY GRADUATE FROM COLLEGE. DURING FISCAL YEAR 2022, BRIGHT PROSPECT SERVED 2,879 STUDENTS. IN FISCAL YEAR 2022 COLLEGE STUDENTS HAS A 93% PERSISTENCE RATE AND OUR OVERALL COLLEGE GRADUATION RATE WAS 86%.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Zamora Executive Direc | OfficerTrustee | 40 | $235,326 |
Kyle Webb Treasurer | OfficerTrustee | 1 | $0 |
Brian Staton President | OfficerTrustee | 1 | $0 |
Mark Warren Director | Trustee | 1 | $0 |
Jason Cordova Director | Trustee | 1 | $0 |
Silvia San Martin Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,328,080 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,332,532 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,660,612 |
| Total Program Service Revenue | $0 |
| Investment income | $878 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$63 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,662,649 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $192,897 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $235,326 |
| Compensation of current officers, directors, key employees. | $35,299 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $743,624 |
| Pension plan accruals and contributions | $5,915 |
| Other employee benefits | $103,167 |
| Payroll taxes | $80,144 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,110 |
| Fees for services: Accounting | $59,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $56,531 |
| Advertising and promotion | $8,789 |
| Office expenses | $5,358 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $139,126 |
| Travel | $1,410 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,263 |
| Interest | $2,839 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,046 |
| Insurance | $30,584 |
| All other expenses | $45,875 |
| Total functional expenses | $1,857,646 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,796,704 |
| Savings and temporary cash investments | $295,065 |
| Pledges and grants receivable | $74,800 |
| 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 | $15,215 |
| Net Land, buildings, and equipment | $76,642 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,038,838 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,297,264 |
| Accounts payable and accrued expenses | $26,226 |
| Grants payable | $0 |
| Deferred revenue | $25,000 |
| 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 | $20,225 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $96,573 |
| Total liabilities | $168,024 |
| Net assets without donor restrictions | $3,023,440 |
| Net assets with donor restrictions | $105,800 |
| 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 | $3,297,264 |
Grants Recieved
Over the last fiscal year, we have identified 20 grants that Bright Prospect has recieved totaling $974,400.
| Awarding Organization | Amount |
|---|---|
Ecmc Foundation Minneapolis, MN PURPOSE: College Success | $300,000 |
Roger I And Ruth B Macfarlane Foundation Los Angeles, CA PURPOSE: EMPOWER HIGH POTENTIAL LOW INCOME STUDENTS TO GAIN ADMISSION TO PERSIST IN AND GRADUATE FRP, FOUR YEAR COLLEGES | $150,000 |
The Annenberg Foundation Conshohocken, PA PURPOSE: GENERAL OPERATING SUPPORT | $75,000 |
Rosalinde And Arthur Gilbert Foundation Los Angeles, CA PURPOSE: COLLEGE ACCESS AND SUCCESS | $75,000 |
Ralph M Parsons Foundation Los Angeles, CA PURPOSE: FOR GENERAL SUPPORT OF COLLEGE ACCESS PROGRAMS | $75,000 |
Kautz Family Foundation Tucson, AZ PURPOSE: CHARITABLE | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Live Oak A Learning Center For Children San Francisco, CA | $40,489,721 | $19,594,406 |
Biocomx Dana Point, CA | $308,692 | $15,969,949 |
Open Up Resources Menlo Park, CA | $29,661,554 | $16,279,319 |
Teach-Org Inc San Francisco, CA | $5,801,007 | $13,162,873 |
The Reason Foundation Los Angeles, CA | $15,187,245 | $16,170,727 |
San Francisco Study Center Inc San Francisco, CA | $5,230,719 | $12,852,895 |
Hoffman Institute Foundation San Rafael, CA | $2,301,194 | $11,907,757 |
Legacy Traditional School Maricopa Chandler, AZ | $18,281,409 | $11,917,984 |
Cambiar Education San Diego, CA | $11,761,927 | $15,993,046 |
Associated Students Of California State University Chico Chico, CA | $29,452,040 | $13,695,718 |
Todays Fresh Start Los Angeles, CA | $38,805,224 | $12,503,064 |
Agape Fresno, CA | $5,383,451 | $10,431,263 |