Futures Incorporated

Analysis

Futures Incorporated is a registered charity in United States, based in West Hartford, CT. It received its IRS tax-exemption ruling in July 1998, 28 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Futures Incorporated reported income of $8.3m and spending of $7.4m, spending 89% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.3m to $8.3m (+33%), an average of +7.4% a year. Over the whole period it spent 88% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Futures Incorporated sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within CT. Charities of a similar size with the same main cause include Community Refugee and Immigration Services Inc ($8.3m), Choices for Community Living Inc ($8.3m) and Washington Gorge Action Programs ($8.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $360k (4.8% of expenses). Other salaries and wages came to $3.8m. At year end it held assets of $9.5m against liabilities of $2.7m, net assets of $6.8m. It reported 211 employees.