Partnership For The Future Inc
- Assets
- $1.6m
- Revenue
- $1.2m
- Investments
- $121.0k
- Employees
- 122
- Location
- Glen Allen, VA
- Founding
- 06/1997
- Data as of
- 12/2022
- EIN
- 31-1482889
Organization Overview
Partnership For The Future Inc is located in Glen Allen, VA. The organization was established in 1997. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Partnership For The Future Inc employed 122 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Partnership For The Future 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 12/2022, Partnership For The Future Inc generated $1.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $1.6m during the year ending 12/2022. While expenses have increased by 12.7% per year over the past 8 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PARTNERSHIP FOR THE FUTURE EQUIPS HIGH ACHIEVING HIGH SCHOOL STUDENTS FOR SUCCESS IN COLLEGE AND BEYOND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAMMING: PARTNERSHIP FOR THE FUTURE (PFF) IS DEDICATED TO HELPING LOW TO MODERATE-INCOME STUDENTS, MOST OF WHOM ARE FIRST GENERATION COLLEGE STUDENTS, BRIDGE THE ACADEMIC, FINANCIAL, AND CULTURAL GAPS THAT ARE KNOW ROADBLOCKS TO ATTENDING AND SUCCESSFULLY COMPLETING COLLEGE AND AS PROFESSIONALS. FOR 2022, 438 STUDENTS FROM LOCAL HIGH SCHOOLS WERE ENROLLED IN THE PFF PROGRAM. LOCAL BUSINESSES PARTNER WITH PFF TO PROVIDE PAID INTERNSHIPS FOR PARTICIPANTS TO ENHANCE THEIR PROFESSIONAL DEVELOPMENT AND FUTURE EMPLOYABILITY. PFF PROVIDES YEAR-ROUND WORKFORCE DEVELOPMENT TRAINING TO PREPARE OUR STUDENTS FOR THEIR SUMMER INTERNSHIP EXPERIENCE. STUDENTS ARE PLACED IN PFF'S INTERNAL CAREER IMMERSION PROGRAM OR AN EXTERNAL INTERNSHIP PLACEMENT MONDAY-THURSDAY AND RECEIVE PERSONAL DEVELOPMENT, FINANCIAL LITERACY, OR CAREER READINESS TRAINING OR ATTEND COLLEGE TOURS ON FRIDAYS.
COLLEGE READINESS, ACADEMIC EXCELLENCE, WORKFORCE DEVELOPMENT, PERSONAL DEVELOPMENT, FINANCIAL LITERACY, AND CULTURAL CAPITAL CONTINUE TO BE THE PRIMARY FOCUS OF OUR YEAR-ROUND PROGRAM. IN ADDITION TO MONTHLY 1:1 MENTORSHIP FROM PFF STAFF AND VOLUNTEERS, OUR HIGH SCHOOL STUDENTS PARTICIPATE IN THREE CULTURAL CAPITAL SESSIONS. WE NURTURE OUR STUDENTS WITH NEW EXPERIENCES, NEW RELATIONSHIPS, AND NEW EDUCATIONAL OPPORTUNITIES DESIGNED TO HELP THEM SUCCEED. OUR PROGRAM IS DESIGNED TO GIVE OUR APPLICANTS A COMPETITIVE EDGE IN THE COLLEGE ADMISSIONS PROCESS AND ENSURE THEY ARE PREPARED TO SUCCESSFULLY COMPLETE COLLEGE AND FOR THE WORKFORCE POST-GRADUATION.
COLLEGE TOURS & FAIRS: PARTICIPANTS ARE EXPOSED TO A VARIETY OF COLLEGES VIA COLLEGE TOURS AND FAIRS. THESE TOURS (BOTH DAY TRIPS & OVERNIGHTS) ALLOW THE STUDENT TO VISIT SOME OF THE BEST SCHOOLS IN VIRGINIA, NORTH CAROLINA, AND MARYLAND. IN ADDITION, THE STUDENTS PARTICIPATE IN A PRIVATE COLLEGE FAIR DESIGNED SPECIFICALLY FOR THEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Atkinson Director | Trustee | 2 | $0 |
Jen Culhane Secretary | OfficerTrustee | 2 | $0 |
Joi Dean Vice Chairman | OfficerTrustee | 2 | $0 |
Kris Johnson Director | Trustee | 2 | $0 |
April Jones Director | Trustee | 2 | $0 |
Jerson Jones Director | Trustee | 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 | $1,140,154 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,140,154 |
| Total Program Service Revenue | $0 |
| Investment income | $555 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,650 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,199,588 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $182,402 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $131,985 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $502,390 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,073 |
| Payroll taxes | $44,282 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,935 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $135,991 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $21,687 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $2,791 |
| Insurance | $14,102 |
| All other expenses | $43,736 |
| Total functional expenses | $1,560,083 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $201,573 |
| Savings and temporary cash investments | $1,126,127 |
| Pledges and grants receivable | $153,334 |
| 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 | $12,909 |
| Net Land, buildings, and equipment | $7,255 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $121,014 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,622,212 |
| Accounts payable and accrued expenses | $45,595 |
| 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 | $45,595 |
| Net assets without donor restrictions | $733,601 |
| Net assets with donor restrictions | $843,016 |
| 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 | $1,622,212 |