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← THIRD FUTURE SCHOOLS

Form 990 for tax year 2023

Filed by THIRD FUTURE SCHOOLS.

Totals

Total revenue
$28,566,028
Total expenses
$32,919,433
Contributions and grants received
$2,857,327
Grants paid
$0
Program service revenue
$16,327,367
Investment income
$57,998
Other revenue
$9,323,336
Total assets, end of year
$67,246,511
Total liabilities, end of year
$87,539,419
Net assets or fund balances, end of year
-$20,292,908
Program services expenses (Part IX)
$11,119,775
Management and general expenses
$21,799,658
Fundraising expenses
$0
Program service expenses (Part III)
$11,119,775

Program services were 33.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $2,857,327

  • 2a · Program service revenue: Per Pupil Revenue

    total $13,378,376 · related or exempt $13,378,376

  • 2b · Program service revenue: District Mill Levy

    total $2,948,991 · related or exempt $2,948,991

  • 3 · Investment income

    total $57,998 · excluded $57,998

  • 8a · Fundraising events: gross income

    $35,356

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $35,356 · excluded $35,356

  • 10a · Gross sales of inventory

    $104,592

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $104,592 · related or exempt $104,592

  • 11a · Other revenue: Services to related Pa

    total $8,944,882 · related or exempt $8,944,882

  • 11b · Other revenue: Other Revenue

    total $238,506 · related or exempt $238,506

  • 11e · Other revenue, total

    $9,183,388

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,310,000 · program services $721,455 · management and general $588,545

  • 7 · Other salaries and wages

    total $9,705,681 · program services $5,345,197 · management and general $4,360,484

  • 8 · Pension plan contributions

    total $60,648 · program services $23,867 · management and general $36,781

  • 9 · Other employee benefits

    total $2,854,441 · program services $796,438 · management and general $2,058,003

  • 11b · Fees: legal

    total $5,925 · management and general $5,925

  • 11c · Fees: accounting

    total $36,500 · management and general $36,500

  • 11g · Fees: other

    total $8,866,258 · program services $866,411 · management and general $7,999,847

  • 12 · Advertising and promotion

    total $162,604 · management and general $162,604

  • 13 · Office expenses

    total $97,048 · management and general $97,048

  • 14 · Information technology

    total $514,033 · program services $424,266 · management and general $89,767

  • 16 · Occupancy

    total $2,495,931 · management and general $2,495,931

  • 17 · Travel

    total $443,609 · program services $443,609

  • 22 · Depreciation, depletion and amortization

    total $2,287,446 · management and general $2,287,446

  • 23 · Insurance

    total $36,744 · management and general $36,744

  • 24a · Other expenses: Pension Accrual Adjustm

    total $2,572,274 · program services $1,307,430 · management and general $1,264,844

  • 24b · Other expenses: Supplies

    total $1,389,049 · program services $1,109,860 · management and general $279,189

  • 24c · Other expenses: Non-capitalized equipme

    total $81,242 · program services $81,242

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,097,878 · end of year $84,032

  • 2 · Savings and temporary cash investments

    beginning of year $50,000 · end of year $662,962

  • 4 · Accounts receivable

    beginning of year $1,285,669 · end of year $29,257,315

  • 9 · Prepaid expenses and deferred charges

    beginning of year $79,688 · end of year $119,206

  • 10a · Land, buildings and equipment: cost or other basis

    $20,657,797

  • 10b · Land, buildings and equipment: accumulated depreciation

    $5,231,101

  • 10c · Land, buildings and equipment, net

    beginning of year $16,817,364 · end of year $15,426,696

  • 15 · Other assets

    beginning of year $19,850,883 · end of year $21,696,300

  • 17 · Accounts payable and accrued expenses

    beginning of year $861,553 · end of year $29,229,468

  • 18 · Grants payable

    beginning of year $47,490

  • 19 · Deferred revenue

    beginning of year $169,208 · end of year $405,649

  • 20 · Tax-exempt bond liabilities

    beginning of year $14,598,475 · end of year $8,461,514

  • 23 · Secured mortgages and notes payable

    beginning of year $1,293,086 · end of year $5,673,699

  • 25 · Other liabilities

    beginning of year $39,151,173 · end of year $43,769,089

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year -$15,939,503 · end of year -$20,292,908

Mission and programs · 2023

Mission

See Schedule O.

Activities or mission (Part I)

The Charter school is a model for the next generation of schools, working to prepare students, especially poor and minority students, for the workplace and college.A team of dedicated teachers and leaders, working in a high performance and careing culture, maintains an intense focus on academic achievement and performance outcomes. Students find success and are engaged through personal learning, which allows students to work at their own pace and learn in a way more suited to their strengths. Third Future Schools holds high expectations for students and staff and believes that everyone can create their own future.

  • A team of dedicated teachers and leaders, working in a high performance and careing culture, maintains an intense focus on academic achievement and performance outcomes. Students find success and are engaged through personal learning, which allows students to work at their own pace and learn in a way more suited to their strengths. Third Future Schools holds high expectations for students and staff and believes that everyone can create their own future.

    Expenses $11,119,775 · Revenue $25,615,347

As filed on the 2023 return.

Listed in Part VII

  • Mary Lindimore

    Director

    Total calculated
    $0
    Hours/week
    1

  • Patrick Mills

    Board President

    Total calculated
    $0
    Hours/week
    1

  • Rachel Ngola-Trice

    Director

    Total calculated
    $0
    Hours/week
    1

  • Helen Morgan

    Director

    Total calculated
    $0
    Hours/week
    1

  • Pam Robinson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Kerri Holt

    Director of Finance

    Total calculated
    $115,000
    From this org
    $115,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Matthew Montoya

    Director of Special Programs

    Total calculated
    $140,000
    From this org
    $140,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • Mark Jaquez

    Director of Operations

    Total calculated
    $125,000
    From this org
    $125,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • Jessica Lopez

    Chief of Staff

    Total calculated
    $195,000
    From this org
    $195,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    $195,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $195,000

  • Zack Craddock

    Chief of Schools

    Total calculated
    $215,000
    From this org
    $215,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    $215,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $215,000

  • Michele Moore

    Chief of Innovation

    Total calculated
    $190,000
    From this org
    $190,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $190,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $190,000

  • Shirley Miles

    Deputy Chief of Instruction

    Total calculated
    $185,000
    From this org
    $185,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $185,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $185,000

  • Elizabeth Domangue

    Director of Instruction

    Total calculated
    $145,000
    From this org
    $145,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
18 December 2024
IRS schema version
2023v5.1
Source object
202423539349301322

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