Faith In The Future Foundation
- Assets
- $0.0
- Revenue
- $98.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Villanova, PA
- Founding
- 02/2013
- Data as of
- 06/2023
- EIN
- 45-5064611
Organization Overview
Faith In The Future Foundation is located in Villanova, PA. The organization was established in 2013. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2023, Faith In The Future Foundation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Faith In The Future Foundation 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 06/2023, Faith In The Future Foundation generated $98.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (37.0%) each year. All expenses for the organization totaled $1.3m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Faith In The Future Foundation has awarded 46 individual grants totaling $18,997,855. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
FAITH IN THE FUTURE IS DRIVEN BY A SINGLE GOAL: TO MAKE AN EXCELLENT CATHOLIC EDUCATION ACCESSIBLE TO ANY FAMILY THAT WANTS IT. WE ARE COMMITTED TO SERVING OVER 10,000 STUDENTS IN THE 15 ARCHODIOCESAN HIGH SCHOOLS AND THREE SCHOOLS OF SPECIAL EDUCATION IN THE PHILADELPHIA REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO THE ARCHDIOCESE OF PHILADELPHIA, OFFICE OF CATHOLIC EDUCATION, UPON DISSOLUTION OF THE ORGANIZATION.THE ORGANIZATION HAS DISSOLVED AND CEASED ALL OPERATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
H Edward Hanway Chairman/president/interim | OfficerTrustee | 1 | $0 |
Most Rev Michael J Fitzgerald Board Member | Trustee | 1 | $0 |
Joanne Romano Guiniven Board Member | Trustee | 1 | $0 |
Paul Lima Board Member | Trustee | 1 | $0 |
Gerald Maginnis Board Member | Trustee | 1 | $0 |
Michael Mahoney Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cardenio Consulting Llc Advancement/development | 12/30/14 | $116,000 |
Patricia Boyle Llc Marketing/strategy | 12/30/14 | $121,265 |
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 | $89,440 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $89,440 |
| Total Program Service Revenue | $0 |
| Investment income | $413 |
| 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 | $98,508 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $898,504 |
| 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. | $149,750 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $56,677 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,645 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $672 |
| Fees for services: Accounting | $49,007 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,295 |
| Advertising and promotion | $0 |
| Office expenses | $3,606 |
| Information technology | $4,183 |
| Royalties | $0 |
| Occupancy | $105 |
| Travel | $65 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $247 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $71,654 |
| Insurance | $13,158 |
| All other expenses | $0 |
| Total functional expenses | $1,254,357 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| 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 | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Faith In The Future Foundation has awarded $2,749,448 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
ARCHDIOCESE OF PHILADELPHIA OFFICE OF CATHOLIC EDUCATION HIGH SCHOOLS PURPOSE: SCHOLARSHIP FUNDING AT 17 ARCHDIOCESE OF PHILADELPHIA HIGH SCHOOLS | $2,029,750 |
ARCHDIOCESE OF PHILADELPHIA OFFICE OF CATHOLIC EDUCATION HIGH SCHOOLS PURPOSE: PAYMENT MADE TO A&A TO SUPPORT KEY AREAS (TECHNOLOGY, ENROLLMENT GROWTH, MARKETING AND ACADEMIC PERFORMANCE) | $148,708 |
ARCHDIOCESE OF PHILADELPHIA OFFICE OF CATHOLIC EDUCATION HIGH SCHOOLS PURPOSE: SUPPORT ARCHDIOCESE OF PHILADELPHIA SPECIAL EDUCATION SCHOOLS | $218,314 |
ARCHDIOCESE OF PHILADELPHIA OFFICE OF CATHOLIC EDUCATION HIGH SCHOOLS PURPOSE: SUPPORT NEW TEACHER PROJECT AND LEARNING SUPPORT FOR WEST CATHOLIC AND NEUMANN-GORRETTI HIGH SCHOOL | $194,495 |
CATHOLIC SOCIAL SERVICES PURPOSE: SUPPORT FOR SOCIAL WORKERS AT WEST CATHOLIC HIGH SCHOOL AND NEUMANN-GORRETTI HIGH SCHOOL | $55,027 |
MERCY CAREER & TECHNICAL HIGH SCHOOL PURPOSE: SCHOLARSHIP FUNDING | $20,000 |