Opportunities For A Better Tomorrow Inc
- Assets
- $2.2m
- Revenue
- $7.8m
- Investments
- $0.0
- Employees
- 105
- Location
- Brooklyn, NY
- Founding
- 10/1990
- Data as of
- 06/2021
- EIN
- 11-2934620
Organization Overview
Opportunities For A Better Tomorrow Inc is located in Brooklyn, NY. The organization was established in 1990. According to its NTEE Classification (J22) the organization is classified as: Job Training, under the broad grouping of Employment and related organizations. As of 06/2021, Opportunities For A Better Tomorrow Inc employed 105 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Opportunities For A Better Tomorrow Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Opportunities For A Better Tomorrow Inc generated $7.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $7.6m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO BREAK THE CYCLE OF POVERTY AND INEQUITY THROUGH EDUCATION, JOB TRAINING AND EMPLOYMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YOUTH EMPLOYMENT AND TRAINING - HELP YOUNG ADULTS BETWEEN THE AGES OF 17 AND 24 WHO EITHER LEFT SCHOOL PRIOR TO OR UPON GRADUATION TO GET THE NEEDED SKILLS FOR AN ENTRY-POSITION LEVEL. OVER 400 PEOPLE WERE SERVED BY THIS PROGRAM.
ADULT EMPLOYMENT AND TRAINING - PROVIDES CORE SERVICES FOR INDIVIDUALS OVER 18 NEEDING ASSISTANCE IN RE-ENTERING THE JOB MARKET OR UPGRADING THEIR SKILLS. OVER 200 PEOPLE WERE SERVED BY THIS PROGRAM.
ADULT EDUCATION - TAILORED TO ACCOMMODATE THE WORKING POPULATION BY PROVIDING G.E.D PREPERATION, COMPUTER APPLICATIONS AND ENGLISH-AS-A-SECOND-LANGUAGE COURSES. OVER 600 PEOPLE WERE SERVED BY THIS PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Liliana Polo-Mckenna Chief Executive Officer | Officer | 40 | $193,700 |
Bryant Lee Chief Financial Officer | Officer | 40 | $131,894 |
Courtney Granger Chief Program Officer | 40 | $128,442 | |
Janet Tsakos Deputy Exec. Dir Of Operat | 40 | $101,086 | |
Vincent Chirico Chairperson | OfficerTrustee | 1 | $0 |
Dan Marks Vice Chairperson | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,624,445 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,181,419 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,805,864 |
| Total Program Service Revenue | $0 |
| Investment income | $958 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,819,105 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $326,444 |
| Compensation of current officers, directors, key employees. | $40,002 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,341,770 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $477,119 |
| Payroll taxes | $468,492 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,246 |
| Fees for services: Accounting | $52,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $338,044 |
| Advertising and promotion | $5,422 |
| Office expenses | $134,581 |
| Information technology | $2,626 |
| Royalties | $0 |
| Occupancy | $612,996 |
| Travel | $625 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $63,164 |
| Insurance | $53,031 |
| All other expenses | $135,744 |
| Total functional expenses | $7,562,702 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $479,632 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,093,878 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,059 |
| Net Land, buildings, and equipment | $506,182 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $81,700 |
| Total assets | $2,168,451 |
| Accounts payable and accrued expenses | $553,633 |
| Grants payable | $0 |
| Deferred revenue | $153,241 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $706,874 |
| Net assets without donor restrictions | $1,038,152 |
| Net assets with donor restrictions | $423,425 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,168,451 |
Grants Recieved
Over the last fiscal year, we have identified 17 grants that Opportunities For A Better Tomorrow Inc has recieved totaling $1,786,966.
| Awarding Organization | Amount |
|---|---|
Robin Hood Foundation New York, NY PURPOSE: POVERTY RELIEF | $550,000 |
Tiger Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $325,000 |
Pinkerton Foundation New York, NY PURPOSE: CAREER READINESS | $225,000 |
Pinkerton Foundation New York, NY PURPOSE: CAREER READINESS | $225,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | $140,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | $140,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North Atlantic States Carpenters Training Fund Millbury, MA | $72,466,434 | $22,130,164 |
Building Service Thomas Shortman Training Scholarship And New York, NY | $24,265,152 | $18,661,986 |
New York District Council Crpntrs Apprntcshp Jrnymn Retraing Educa New York, NY | $32,423,989 | $13,554,381 |
Groundtruth Project Inc Boston, MA | $12,977,835 | $12,726,930 |
Northeast Carpenters Apprenticeship Fund Edison, NJ | $19,860,788 | $10,381,249 |
Hawthorne Valley Association Inc Ghent, NY | $11,965,949 | $10,914,219 |
Liuna Training And Education Fund Pomfret Center, CT | $19,387,955 | $9,381,853 |
Operating Engineers Local 825 Springfield, NJ | $22,861,458 | $9,545,959 |
Operating Engineers Local 825 Sub Fund Springfield, NJ | $82,702,164 | $12,313,269 |
Joint Apprenticeship And Training Trust Fund Local 103 Ibew Boston, MA | $13,179,581 | $8,861,151 |
Nueva Esperanza Philadelphia, PA | $22,032,264 | $12,218,705 |
National Automatic Sprinkler Industry Apprentice And Training New Milford, CT | $8,318,559 | $7,669,959 |