Opportunities For A Better Tomorrow Inc
- Assets
- $1.9m
- Revenue
- $7.3m
- Investments
- $0.0
- Employees
- 105
- Location
- Brooklyn, NY
- Founding
- 10/1990
- Data as of
- 06/2022
- 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 06/2022, 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 06/2022, Opportunities For A Better Tomorrow Inc generated $7.3m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $7.8m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 7 years. 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
2022
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.
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 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 PREPARATION, COMPUTER APPLICATIONS AND ENGLISH-AS-A-SECOND-LANGUAGE COURSES. OVER 600 PEOPLE WERE SERVED BY THIS PROGRAM.
ADULT EDUCATION - TAILORED TO ACCOMMODATE THE WORKING POPULATION BY PROVIDING G.E.D PREPARATION, 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 |
|---|---|---|---|
Vincent Chirico Chairperson | OfficerTrustee | 1 | $0 |
Dan Marks Vice Chairperson | OfficerTrustee | 1 | $0 |
Tamara Dews Secretary | OfficerTrustee | 1 | $0 |
Sasha Urquidi Treasurer | OfficerTrustee | 1 | $0 |
Damian Bivona Member | Trustee | 1 | $0 |
Gehan Dabare Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,953,923 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,283,243 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,237,166 |
| Total Program Service Revenue | $0 |
| Investment income | $280 |
| 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 | $7,280,955 |
| 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. | $365,400 |
| Compensation of current officers, directors, key employees. | $236,471 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,271,149 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $671,933 |
| Payroll taxes | $408,268 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,399 |
| Fees for services: Accounting | $97,981 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $361,597 |
| Advertising and promotion | $30,757 |
| Office expenses | $135,005 |
| Information technology | $152,499 |
| Royalties | $0 |
| Occupancy | $647,567 |
| Travel | $35,041 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,197 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $52,188 |
| Insurance | $47,025 |
| All other expenses | $172,933 |
| Total functional expenses | $7,782,233 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $97,926 |
| Pledges and grants receivable | $1,227,366 |
| 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 | $7,958 |
| Net Land, buildings, and equipment | $453,994 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $155,594 |
| Total assets | $1,942,838 |
| Accounts payable and accrued expenses | $404,397 |
| Grants payable | $0 |
| Deferred revenue | $186,624 |
| 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 | $304,920 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $895,941 |
| Net assets without donor restrictions | $906,897 |
| Net assets with donor restrictions | $140,000 |
| 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 | $1,942,838 |