Form 990 for tax year 2023
Filed by FUTURE KINGS INC.
This return was superseded by a later amendment.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 19 March 2024. matched by us Only the Part I totals and the names listed in Part VII 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.
- Contributions and grants received
- $16,629 changed to $327,780
- Program service revenue
- $311,151 changed to $0
Totals
- Total revenue
- $327,780
- Total expenses
- $269,014
- Contributions and grants received
- $16,629
- Grants paid
- $12,465
- Program service revenue
- $311,151
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $112,533
- Total liabilities, end of year
- $28,276
- Net assets or fund balances, end of year
- $84,257
- Program services expenses (Part IX)
- $210,994
- Management and general expenses
- $58,020
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $210,994
Program services were 78.4% 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.
-
1c · Fundraising events
$16,629
-
2a · Program service revenue: CONTRIBUTIONS
total $311,151 · related or exempt $311,151
-
8a · Fundraising events: contributions included on line 1c
$16,629
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $12,465 · program services $12,465
-
11a · Fees: management
total $104,820 · program services $104,820
-
11c · Fees: accounting
total $8,950 · management and general $8,950
-
12 · Advertising and promotion
total $3,040 · management and general $3,040
-
13 · Office expenses
total $7,394 · management and general $7,394
-
14 · Information technology
total $16,706 · program services $12,821 · management and general $3,885
-
16 · Occupancy
total $61,281 · program services $58,884 · management and general $2,397
-
17 · Travel
total $5,516 · program services $5,516
-
19 · Conferences, conventions and meetings
total $19,182 · program services $16,488 · management and general $2,694
-
20 · Interest
total $571 · management and general $571
-
22 · Depreciation, depletion and amortization
total $25,203 · management and general $25,203
-
23 · Insurance
total $1,683 · management and general $1,683
-
24a · Other expenses: BANK FEES
total $507 · management and general $507
-
24b · Other expenses: DUES & SUBSCRIPTIONS
total $1,649 · management and general $1,649
-
24c · Other expenses: LICENSES & PERMITS
total $47 · management and general $47
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $24,239 · end of year $12,533
-
10a · Land, buildings and equipment: cost or other basis
$127,318
-
10b · Land, buildings and equipment: accumulated depreciation
$27,318
-
10c · Land, buildings and equipment, net
beginning of year $203 · end of year $100,000
-
17 · Accounts payable and accrued expenses
end of year $28,276
-
27 · Net assets without donor restrictions
beginning of year $24,442 · end of year $84,257
Mission and programs · 2023
Mission
We are entrepreneurial education program. Our goal is to help boys from underserved communities start and grow their own STEM -based business.
-
Our STEM camps served 50 boys and girls from underserved communities. The camps operated from 8:30am to 4:30pm Monday through Friday. Lunch was provided. There were four camps that operated provided introductory skills in Cyber Security, Stock Market Investing, Computer Game Design, and 3-Dprinting. The goal of the camps was to excite students about the fun and entrepreneurial opportunities in these technical fields. We want to grow this activity to serve at least 300 studentsper summer. The plan is to maintain the foundational goal for this activity, but togrow its revenue so that is becomes revenue generating to the degree that it can become a significant contributor to the Future Kings goal of being self-sustaining.Volunteers provided all general and administrative staff for Future King. The value that those volunteer hours was $205,000 in 2023.
Expenses $210,994 · Revenue $327,781
As filed on the 2023 return.
Listed in Part VII
-
Frederick GregoryFREDERICK GREGORY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Wesley PhillipsWESLEY PHILLIPS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Larnce RobinsonLARNCE ROBINSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Tshaka CunninghamTSHAKA CUNNINGHAM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Dexter CummingsDEXTER CUMMINGS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Dr Arik KingDR ARIK KING
EXECUTIVE DIRECTOR
- 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.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 7 March 2024
- IRS schema version
- 2023v4.0
- Source object
- 202400689349301005
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