A Better Chance Inc
- Assets
- $16.7m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 35
- Location
- New York, NY
- Founding
- 05/1972
- Data as of
- 12/2023
- 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 12/2023, A Better Chance Inc employed 35 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 12/2023, A Better Chance Inc generated $3.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $5.5m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE PART III, LINE 1.
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 1,900 ACADEMICALLY TALENTED YOUTH OF COLOR THROUGH ITS SIGNATURE COLLEGE PREPARATORY SCHOOLS PROGRAM. OUR SUCCESS IS EVIDENT IN THE OVER 20,000 ALUMNI WHO HAVE BECOME GREAT INNOVATORS, THINKERS AND LEADERS IN THEIR RESPECTIVE FIELDS. IN 2023, A BETTER CHANCE ACHIEVED 271 PLACEMENTS FROM A POOL OF 636 AND SAW NEARLY 100% OF GRADUATING HS SCHOLARS ENROLLING IN COLLEGE (SEE SCHEDULE O FOR DETAILS).THE ORGANIZATION HOSTED VIRTUAL SCHOOL FAIRS AT WHICH 103 OF OUR 200 MEMBER SCHOOLS PARTICIPATED. AN IN-PERSON MEMBER SCHOOL FAIR WAS HOSTED AT HOLY INNOCENTS EPISCOPAL SCHOOL AT WHICH 42 MEMBER SCHOOL PARTICIPATED. THE ORGANIZATION ALSO LED VIRTUAL ADMISSIONS AND FINANCIAL AID WORKSHOPS, VIRTUAL INTERVIEW DAYS AND OUR SIGNATURE SUMMER LEADERSHIP ACADEMY, WHICH HELPS FAMILIES BETTER NAVIGATE AND UNDERSTAND THE APPLICATION, ACCEPTANCE AND PLACEMENT PROCESS. 196 MIDDLE SCHOOL AND 238 HIGH SCHOOL STUDENTS ACCEPTED BY A BETTER CHANCE FOR PLACEMENT, ABOUT 70%, REGISTERED FOR SUMMER LEADERSHIP ACADEMY WORKSHOPS. AN AVERAGE OF 110 STUDENTS PER DAY WERE IN ATTENDANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Francisco Tezen President & CEO | OfficerTrustee | 37.5 | $374,982 |
Theo Killion Chair | OfficerTrustee | 2 | $0 |
Sheila Marmon Vice Chair | OfficerTrustee | 2 | $0 |
Rob Fullerton Vice Chair | OfficerTrustee | 2 | $0 |
Rhonda Trotter Vice Chair | OfficerTrustee | 2 | $0 |
Roger Arrieux Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Beacon Hill Staffing Group Temporary Staffing | 12/30/23 | $203,041 |
Orr Group Development Consulting Services | 12/30/23 | $128,050 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,376,016 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,853,633 |
| Noncash contributions included in lines 1a–1f | $269,003 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,229,649 |
| Total Program Service Revenue | $246,464 |
| Investment income | $268,041 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $195,952 |
| Net Income from Fundraising Events | -$37,150 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,925,306 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $176,995 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $810,737 |
| Compensation of current officers, directors, key employees. | $137,326 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,956,898 |
| Pension plan accruals and contributions | $29,238 |
| Other employee benefits | $280,972 |
| Payroll taxes | $222,677 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $62,702 |
| Fees for services: Accounting | $43,514 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $128,050 |
| Fees for services: Investment Management | $72,365 |
| Fees for services: Other | $179,521 |
| Advertising and promotion | $295 |
| Office expenses | $79,965 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $231,295 |
| Travel | $65,576 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,966 |
| Interest | $208,543 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,017 |
| Insurance | $52,036 |
| All other expenses | $161,454 |
| Total functional expenses | $5,542,974 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $787,423 |
| Savings and temporary cash investments | $868,842 |
| Pledges and grants receivable | $1,976,426 |
| Accounts receivable, net | $87,825 |
| 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 | $180,580 |
| Net Land, buildings, and equipment | $79,987 |
| Investments—publicly traded securities | $9,950,040 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,808,653 |
| Total assets | $16,739,776 |
| Accounts payable and accrued expenses | $230,321 |
| Grants payable | $0 |
| Deferred revenue | $137,114 |
| 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 | $3,431,726 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,945,743 |
| Total liabilities | $5,744,904 |
| Net assets without donor restrictions | -$3,399,020 |
| Net assets with donor restrictions | $14,393,892 |
| 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 | $16,739,776 |