Future Generation Educational Services Inc

Analysis

Future Generation Educational Services Inc is a registered charity in United States, based in Bloomfield, NJ. It received its IRS tax-exemption ruling in March 2005, 21 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, Future Generation Educational Services Inc reported income of $311k and spending of $371k, spending 119% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $220k to $311k (+42%), an average of +9.1% a year. The sharpest change came in the year to June 2022, when income rose by 53%. Over the whole period it spent 106% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Future Generation Educational Services Inc sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 68th percentile within NJ. Charities of a similar size with the same main cause include Way Station ($311k), Love Beyond Walls ($311k) and Uproot Colorado ($311k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 19% and program service revenue 81% of the total. Other salaries and wages came to $207k. At year end it held assets of $121k against liabilities of $209k, net assets of -$88k. It reported 12 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.