Better Future Forward
- Assets
- $2.5m
- Revenue
- $722.5k
- Investments
- $0.0
- Employees
- 6
- Location
- Alexandria, VA
- Founding
- 11/2017
- Data as of
- 06/2022
- EIN
- 81-4772781
Organization Overview
Better Future Forward is located in Alexandria, VA. The organization was established in 2017. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2022, Better Future Forward employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Better Future Forward 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, Better Future Forward generated $722.5k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. While expenses have increased by 8.8% per year over the past 6 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
BETTER FUTURE FORWARD INC (BFF) WAS ESTABLISHED TO ENSURE ALL INDIVIDUALS HAVE EQUITABLE ACCESS TO HIGH- QUALITY POSTSECONDARY OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IMPLEMENTED COMMUNITY FUNDS DESIGNED TO HELP STUDENTS WITH LIMITED FINANCIAL MEANS ACCESS AND COMPLETE A BACHELOR'S DEGREE AT HIGHER RATES.
IMPLEMENTED COMMUNITY FUNDS DESIGNED TO HELP STUDENTS WITH LIMITED FINANCIAL MEANS ACCESS AND COMPLETE A BACHELOR'S DEGREE AT HIGHER RATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin James Founder & CEO | OfficerTrustee | 40 | $169,194 |
Amy Simon Secretary & Director | Trustee | 1 | $0 |
Erin Crowley Director | Trustee | 1 | $0 |
Steve Goldberg Chair Of The Board & Director | Trustee | 1 | $0 |
Ulises Serrano Director | Trustee | 1 | $0 |
Edith Bartley Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $238,899 |
| All other contributions, gifts, grants, and similar amounts not included above | $480,928 |
| Noncash contributions included in lines 1a–1f | $5,169 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $719,827 |
| Total Program Service Revenue | $2,625 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $62 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $722,514 |
| 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. | $169,194 |
| Compensation of current officers, directors, key employees. | $5,076 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $262,492 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $21,356 |
| Payroll taxes | $33,122 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $154,264 |
| Fees for services: Accounting | $30,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $48,628 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,302 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $56,074 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,766 |
| Insurance | $1,383 |
| All other expenses | $5,140 |
| Total functional expenses | $1,113,700 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $335,247 |
| 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 | $9,238 |
| Net Land, buildings, and equipment | $9,464 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,179,474 |
| Total assets | $2,533,423 |
| Accounts payable and accrued expenses | $438,487 |
| 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 | $2,286,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $104,125 |
| Total liabilities | $2,828,612 |
| Net assets without donor restrictions | $0 |
| 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 | $2,533,423 |