Future Business Leaders Of America Phi Beta Lambda Inc
- Assets
- $10.5m
- Revenue
- $14.2m
- Investments
- $0.0
- Employees
- 13
- Location
- Reston, VA
- Founding
- 10/1971
- Data as of
- 06/2022
- EIN
- 23-7254290
Organization Overview
Future Business Leaders Of America Phi Beta Lambda Inc is located in Reston, VA. The organization was established in 1971. According to its NTEE Classification (O52) the organization is classified as: Youth Development - Agricultural, under the broad grouping of Youth Development and related organizations. As of 06/2022, Future Business Leaders Of America Phi Beta Lambda Inc employed 13 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Future Business Leaders Of America Phi Beta Lambda 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, Future Business Leaders Of America Phi Beta Lambda Inc generated $14.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $13.8m during the year ending 06/2022. While expenses have increased by 0.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Future Business Leaders Of America Phi Beta Lambda Inc has awarded 13 individual grants totaling $293,444. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
INSPIRES AND PREPARES STUDENTS TO BECOME COMMUNITY-MINDED BUSINESS LEADERS IN A GLOBAL SOCIETY THROUGH RELEVANT CAREER PREPARATION AND LEADERSHIP EXPERIENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A PROGRAM DESIGNED TO EDUCATE THE YOUTH OF AMERICA TO UNDERSTAND THE BUSINESS PHILOSOPHY OF OUR ECONOMY FOR FUTURE PARTICIPATION IN SERVICING ITS NEEDS AND TO FURTHER THE DEVELOPMENT OF INDIVIDUAL LEADERSHIP QUALITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sean Smith President - Alabama Chapter | OfficerTrustee | 1 | $0 |
Alexandria Torbert Secretary - Alabama Chapter | OfficerTrustee | 1 | $0 |
Owen Amazan VP - Alabama Chapter | OfficerTrustee | 1 | $0 |
Taylor Barnes VP - Alabama Chapter | OfficerTrustee | 1 | $0 |
Jacory Foreman VP - Alabama Chapter | OfficerTrustee | 1 | $0 |
Colson Collier VP - Alabama Chapter | OfficerTrustee | 1 | $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 | $1,065,045 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,065,045 |
| Total Program Service Revenue | $13,025,485 |
| Investment income | $10,144 |
| 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 | $61,605 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,177,765 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $58,428 |
| Grants and other assistance to domestic individuals. | $135,045 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $438,507 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $432,873 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $367,562 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,792,575 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $13,844,238 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,577,925 |
| Savings and temporary cash investments | $4,954,874 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,532,799 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $10,532,799 |
| Net assets with donor restrictions | $0 |
| 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 | $10,532,799 |
Grants Awarded
Over the last fiscal year, Future Business Leaders Of America Phi Beta Lambda Inc has awarded $20,845 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FLORIDA FBLA-PBL FOUNDATION INC PURPOSE: OPERATIONAL SUPPORT | $10,345 |
WEST VIRGINIA UNIVERSITY FOUNDATION INC PURPOSE: OPERATIONAL SUPPORT | $10,500 |