Unlimited Future Incorporated
- Assets
- $438.7k
- Revenue
- $366.5k
- Investments
- $0.0
- Employees
- 7
- Location
- Huntington, WV
- Founding
- 08/1992
- Data as of
- 12/2022
- EIN
- 55-0711154
Organization Overview
Unlimited Future Incorporated is located in Huntington, WV. The organization was established in 1992. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Unlimited Future Incorporated employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Unlimited Future Incorporated 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 12/2022, Unlimited Future Incorporated generated $366.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $304.1k during the year ending 12/2022. While expenses have increased by 3.5% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
UNLIMITED FUTURE, INC. ACTS AS A CATALYST IN ELIMINATING BARRIERS TO THE CREATION OF SUCCESSFUL BUSINESS OPPORTUNITIES BY ALLOWING RESIDENTS TO REALIZE THEIR GOALS AND POTENTIAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE INCUBATOR SERVICES ALONG WITH EDUCATIONAL AND MENTORING SERVICES TO HELP SMALL BUSINESS BE SUCCESSFUL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ursulette Ward Executive Di | Officer | 40 | $49,308 |
Bruce Felder Treasurer | OfficerTrustee | 1 | $0 |
David Lieving Board Member | Trustee | 1 | $0 |
Abby Reale Secretary | OfficerTrustee | 1 | $0 |
Breanna Shell President | Trustee | 1 | $0 |
Dr Uda Tate Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $328,089 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $333,089 |
| Total Program Service Revenue | $30,700 |
| Investment income | $610 |
| 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 | $366,491 |
| 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. | $48,308 |
| Compensation of current officers, directors, key employees. | $12,077 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $90,326 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,128 |
| Payroll taxes | $11,439 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,100 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $68,407 |
| Advertising and promotion | $1,036 |
| Office expenses | $125 |
| Information technology | $3,375 |
| Royalties | $0 |
| Occupancy | $36,620 |
| Travel | $1,558 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $768 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,992 |
| Insurance | $10,697 |
| All other expenses | $229 |
| Total functional expenses | $304,108 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $106,448 |
| Savings and temporary cash investments | $25,610 |
| Pledges and grants receivable | $6,611 |
| Accounts receivable, net | -$950 |
| 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 | $300,514 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $473 |
| Total assets | $438,706 |
| Accounts payable and accrued expenses | $37,711 |
| Grants payable | $0 |
| Deferred revenue | $83,222 |
| 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 | $17,381 |
| Total liabilities | $138,314 |
| Net assets without donor restrictions | $186,145 |
| Net assets with donor restrictions | $114,247 |
| 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 | $438,706 |