Bright Futures Early Learning Center Inc

Analysis

Bright Futures Early Learning Center Inc is a registered charity in United States, based in Springfield, MA. It received its IRS tax-exemption ruling in June 2018, 8 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Bright Futures Early Learning Center Inc reported income of $1.8m and spending of $1.6m, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $994k to $1.8m (+84%), an average of +16% a year. The sharpest change came in the year to December 2022, when income rose by 51%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Bright Futures Early Learning Center Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 84th percentile within MA. Charities of a similar size with the same main cause include Virginia Advanced Study Strategiesinc ($1.8m), Community After School Inc ($1.8m) and Seminole Mennonite School ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 20% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $60k (3.8% of expenses). Other salaries and wages came to $800k. At year end it held assets of $571k against liabilities of $99k, net assets of $473k. It reported 35 employees.