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← THIRD FUTURE SCHOOLS-TEXAS

Form 990 for tax year 2023

Filed by THIRD FUTURE SCHOOLS-TEXAS.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2023 , filed 15 May 2025. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Listed only on the earlier return

  • Hector Santiago
  • Kerri Holt

Listed only on the later return

  • Zach Craddock

Totals

Total revenue
$51,349,168
Total expenses
$53,983,185
Contributions and grants received
$4,595,661
Grants paid
$0
Program service revenue
$46,753,507
Investment income
$0
Other revenue
$0
Total assets, end of year
$86,489,848
Total liabilities, end of year
$91,809,476
Net assets or fund balances, end of year
-$5,319,628
Program services expenses (Part IX)
$26,873,106
Management and general expenses
$27,110,079
Fundraising expenses
$0
Program service expenses (Part III)
$26,873,106

Program services were 49.8% 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)

    $4,595,661

  • 2a · Program service revenue: PER PUPIL REVENUE

    total $38,909,844 · related or exempt $38,909,844

  • 2b · Program service revenue: CHARTER SCHOOL PROGRAM FUNDS

    total $7,843,663 · related or exempt $7,843,663

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $29,348,793 · program services $23,380,272 · management and general $5,968,521

  • 9 · Other employee benefits

    total $3,944,027 · program services $2,852,577 · management and general $1,091,450

  • 11a · Fees: management

    total $11,795,413 · management and general $11,795,413

  • 11b · Fees: legal

    total $23,738 · management and general $23,738

  • 13 · Office expenses

    total $5,562,830 · program services $218,140 · management and general $5,344,690

  • 16 · Occupancy

    total $2,148,147 · management and general $2,148,147

  • 17 · Travel

    total $551,140 · management and general $551,140

  • 20 · Interest

    total $32,757 · management and general $32,757

  • 22 · Depreciation, depletion and amortization

    total $422,117 · program services $422,117

  • 23 · Insurance

    total $154,223 · management and general $154,223

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $115,984 · end of year $119,085

  • 3 · Pledges and grants receivable

    beginning of year $153,341 · end of year $360,189

  • 9 · Prepaid expenses and deferred charges

    beginning of year $113,541 · end of year $246,403

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

    $1,266,349

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

    $706,019

  • 10c · Land, buildings and equipment, net

    beginning of year $567,803 · end of year $560,330

  • 15 · Other assets

    beginning of year $8,105,570 · end of year $85,203,841

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,615,258 · end of year $841,069

  • 25 · Other liabilities

    beginning of year $1,126,592 · end of year $90,968,407

  • 27 · Net assets without donor restrictions

    beginning of year -$2,685,611 · end of year -$5,319,628

Mission and programs · 2023

Mission

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.

Activities or mission (Part I)

THE COLLEGE PREPARATORY MODEL INSTILLS THE EXPECTATION FROM THE FIRST DAY ON CAMPUS THAT EVERY STUDENT WILL GO TO COLLEGE. COLLEGE PREP CLASSROOM INSTRUCTION IS ENHANCED BY EXPOSURE TO UNIVERSITY CAMPUSES AND CONFIDENCE-BUILDING EXPERIENCES THAT PREPARE PARENT AND STUDENT EXPECTATIONS OF COLLEGE. AT HOUSTON, WE UTILIZE A PERSONALIZED LEARNING MODEL. CAMPUSES IN OUR NETWORK (THIRD FUTURE SCHOOLS) AVERAGE TWO YEARS GROWTH IN ONE YEAR OF TEACHING.

  • THROUGH THE TRANSFORMATION OF SAM HOUSTON, MIDLAND ISD HAS CREATED A DYNAMIC COLLEGIATE PATHWAY FOR STUDENTS IN OUR COMMUNITY STARTING AS YOUNG AS PREKINDERGARTEN. THE COLLEGE PREPARATORY MODEL INSTILLS THE EXPECTATION FROM THE FIRST DAY ON CAMPUS THAT EVERY STUDENT WILL GO TO COLLEGE. COLLEGE PREP CLASSROOM INSTRUCTION IS ENHANCED BY EXPOSURE TO UNIVERSITY CAMPUSES AND CONFIDENCE-BUILDING EXPERIENCES THAT PREPARE PARENT AND STUDENT EXPECTATIONS OF COLLEGE. AT HOUSTON, WE UTILIZE A PERSONALIZED LEARNING MODEL. CAMPUSES IN OUR NETWORK (THIRD FUTURE SCHOOLS) AVERAGE TWO YEARS GROWTH IN ONE YEAR OF TEACHING.

    Expenses $26,873,106

As filed on the 2023 return.

Listed in Part VII

  • Kerri Holt

    DIRECTOR OF

    Total calculated
    $0
    Hours/week
    2

  • Hector Santiago

    CFO

    Total calculated
    $0
    Hours/week
    40

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.

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
15 May 2025
IRS schema version
2023v6.0
Source object
202501359349316475

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