Future 5 Inc

Analysis

Future 5 Inc is a registered charity in United States, based in Stamford, CT. It received its IRS tax-exemption ruling in June 2014, 12 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 5 Inc reported income of $1.8m and spending of $2.0m, spending 110% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $906k to $1.8m (+96%), an average of +18% a year. The sharpest change came in the year to June 2020, when income rose by 57%. Over the whole period it spent 87% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Future 5 Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 83rd percentile within CT. Charities of a similar size with the same main cause include African American Youth Harvest Foundation ($1.8m), Wozu Inc ($1.8m) and Youth for Christ USA Inc ($1.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 102% of the total. Compensation of current officers, directors and key employees was $169k (8.6% of expenses). Other salaries and wages came to $771k. At year end it held assets of $2.4m against liabilities of $44k, net assets of $2.3m. It reported 31 employees.