A Better Chance Inc
- Assets
- $16.5m
- Revenue
- $6.3m
- Investments
- $0.0
- Employees
- 29
- Location
- New York, NY
- Founding
- 05/1972
- Data as of
- 12/2021
- EIN
- 23-7173492
Organization Overview
A Better Chance Inc is located in New York, NY. The organization was established in 1972. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 12/2021, A Better Chance Inc employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. A Better Chance 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 12/2021, A Better Chance Inc generated $6.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $4.1m during the year ending 12/2021. 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
A NATIONAL, EDUCATIONAL EQUITY ORG THAT HELPS YOUNG PEOPLE OF COLOR PREPARE TO BE LEADERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE 1963, A BETTER CHANCE HAS ACCOMPLISHED ITS MISSION BY NATIONALLY RECRUITING, PLACING AND PROVIDING SUPPORT TO A COMMUNITY OF OVER 2,000 ACADEMICALLY TALENTED YOUTH OF COLOR THROUGH ITS SIGNATURE COLLEGE PREPARATORY SCHOOLS PROGRAM. IN 2021, THE ORGANIZATION SAW NEARLY 100% OF SCHOLARS ENROLLING IN COLLEGE & OVER 85% OF ALUMNI GOING ON TO EARN COLLEGE DEGREES. OUR RECORD OF SUCCESS IS EVIDENT IN THE OVER 18,000 ALUMNI WHO HAVE BECOME GREAT INNOVATORS, THINKERS AND LEADERS IN THEIR RESPECTIVE FIELDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Francisco Tezen President & CEO | OfficerTrustee | 37.5 | $277,513 |
Benjamin Bingman-Tennant Dir. Of Programs | 37.5 | $165,331 | |
Damaris Heron-Watkins Dir. Of Finance & Admin | Officer | 37.5 | $108,833 |
Gennell Jefferson Vice-Chair | OfficerTrustee | 2 | $0 |
Gregory T Durant Vice-Chair (outgoing) | OfficerTrustee | 2 | $0 |
Rhonda Trotter Vice-Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,943,904 |
| Noncash contributions included in lines 1a–1f | $92,416 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,943,904 |
| Total Program Service Revenue | $249,100 |
| Investment income | $219,368 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $895,565 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,340,111 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $47,864 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $438,882 |
| Compensation of current officers, directors, key employees. | $26,333 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,448,680 |
| Pension plan accruals and contributions | $43,113 |
| Other employee benefits | $185,112 |
| Payroll taxes | $156,462 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,984 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $79,022 |
| Fees for services: Other | $370,480 |
| Advertising and promotion | $0 |
| Office expenses | $44,845 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $374,040 |
| Travel | $39,137 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $47,533 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,479 |
| Insurance | $41,251 |
| All other expenses | $128,126 |
| Total functional expenses | $4,087,658 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19 |
| Savings and temporary cash investments | $2,533,887 |
| Pledges and grants receivable | $1,999,771 |
| Accounts receivable, net | $35,325 |
| 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 | $149,183 |
| Net Land, buildings, and equipment | $81,008 |
| Investments—publicly traded securities | $10,458,842 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,214,132 |
| Total assets | $16,472,167 |
| Accounts payable and accrued expenses | $196,956 |
| Grants payable | $0 |
| Deferred revenue | $326,881 |
| 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 | $2,524,087 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $62,954 |
| Total liabilities | $3,110,878 |
| Net assets without donor restrictions | -$1,624,111 |
| Net assets with donor restrictions | $14,985,400 |
| 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 | $16,472,167 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that A Better Chance Inc has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
Jana Fund Portland, ME PURPOSE: EDUCATION | $1,500 |
P O W E R Foundation Inc Baltimore, MD PURPOSE: EDUCATIONAL | $1,000 |
Endowment Analysis
| Beg. Balance | $10,391,790 |
| Earnings | $1,228,115 |
| Other Expense | $784,028 |
| Ending Balance | $10,835,877 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Transcend Inc Hastingsonhudson, NY | $40,245,682 | $36,384,149 |
The Baruch College Fund New York, NY | $295,690,612 | $67,294,185 |
Collier Services Wickatunk, NJ | $8,471,748 | $15,685,679 |
S&p Global Foundation New York, NY | $10,276,249 | $7,071,664 |
Workforce Outsource Services Inc Uniondale, NY | $10,340,814 | $13,464,902 |
North Star Academy Foundation Inc New York, NY | $177,913,521 | $11,304,915 |
Hyde Leadership Charter School-Brooklyn Brooklyn, NY | $3,932,564 | $12,878,236 |
Teach Plus Incorporated Boston, MA | $12,001,505 | $12,042,496 |
Onward Israel Internships And Opportunities Ltd New York, NY | $897,895 | $11,379,184 |
Goodwin College Educational Services Inc East Hartford, CT | $19,577 | $10,789,035 |
Education Resource Strategies Inc Watertown, MA | $16,861,900 | $10,099,352 |
Entrepreneurial Ventures In Education Quincy, MA | $4,865,485 | $11,072,937 |