Future Talent Of Silicon Valley
- Assets
- $1.1m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 48
- Location
- Santa Clara, CA
- Founding
- 08/2013
- Data as of
- 12/2023
- EIN
- 46-3102278
Organization Overview
Future Talent Of Silicon Valley, operating under the name The First Tee of Silicon Valle, is located in Santa Clara, CA. The organization was established in 2013. According to its NTEE Classification (N6A) the organization is classified as: Golf, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, First Tee of Silicon Valle employed 48 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. First Tee of Silicon Valle 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, First Tee of Silicon Valle generated $1.4m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $1.5m during the year ending 12/2023. While expenses have increased by 7.6% per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUTURE TALENT OF SILICON VALLEY DELIVERS YOUTH DEVELOPMENT PROGRAMS THROUGH OUTREACH (IN AND AFTER SCHOOL) & CLASSES (AT AREA GOLF COURSES). THE CHILDREN IN OUR PROGRAM BEHAVE BETTER, GET BETTER GRADES, AND ARE HEALTHIER THAN THEIR PEERS. MORE THAN 3,500 YOUTH PARTICIPATED IN OUTREACH AND 1,200 PARTICIPATED IN CLASSES IN 2023. OUTREACH: OVER 95% OF PARTICIPANTS CAME FROM DIVERSE BACKGROUNDS (E.G. LATINO), 50% WERE GIRLS, AND OVER 70% WERE ON THE FREE/REDUCED LUNCH PROGRAM AT THEIR SCHOOLS. ALL OUTREACH PROGRAMS ARE FREE TO YOUTH AND THEIR FAMILIES. CERTIFYING: OVER 85% OF PARTICIPANTS CAME FROM DIVERSE BACKGROUNDS, 43% WERE GIRLS. MORE THAN 50% OF CURRENT CLASS COSTS ARE COVERED BY CONTRIBUTIONS, KEEPING CLASS FEES AFFORDABLE. MORE THAN 30% OF FAMILIES STILL REQUIRED FULL FINANCIAL AID TO COVER THE $230 CLASS FEE. THESE FAMILIES PAY JUST $20.
THE FUTURE TALENT OF SILICON VALLEY PAYS FOR ITS USE OF AREA GOLF COURSES THROUGH GREEN FEES, RANGE BALLS, INSTRUCTION, FOOD AND BEVERAGE CHARGES, MEETING SPACE RENTALS, AND MORE. THE TOTAL OPERATIONS COST FOR THESE ITEMS IS ABOUT $1,600 FOR A FULL 8-WEEK CLASS OF 16 PARTICIPANTS. GREEN FEES ARE TYPICALLY $10 PER PARTICIPANT PER ROUND - ABOUT $80 FOR AN 8-WEEK CLASS. THESE CHARGES ARE OFFSET THROUGH CONTRIBUTIONS AND PARTICIPANT FEES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George Maxe President CEO | Officer | 50 | $198,137 |
Judy Deaton Development Director | 50 | $135,600 | |
Lucas Watson Director | Trustee | 2 | $0 |
Andrea Brenholz Director | Trustee | 2 | $0 |
Steve Almassy Jr Director | Trustee | 2 | $0 |
Victor M Arranaga Jr Chair | OfficerTrustee | 6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $274,564 |
| Related organizations | $0 |
| Government grants | $6,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $673,105 |
| Noncash contributions included in lines 1a–1f | $56,606 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $953,669 |
| Total Program Service Revenue | $368,781 |
| Investment income | $14,991 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $38,361 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,376,834 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $9,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $198,137 |
| Compensation of current officers, directors, key employees. | $1,077 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $671,587 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $116,491 |
| Payroll taxes | $67,119 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $300 |
| Fees for services: Accounting | $20,835 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $69,831 |
| Advertising and promotion | $0 |
| Office expenses | $73,075 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $33,037 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,306 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,450,869 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $766,492 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $217,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,000 |
| Prepaid expenses and deferred charges | $36,155 |
| Net Land, buildings, and equipment | $14,564 |
| Investments—publicly traded securities | $10,574 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,350 |
| Total assets | $1,053,135 |
| Accounts payable and accrued expenses | $11,407 |
| Grants payable | $0 |
| Deferred revenue | $28,000 |
| 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 | $129,488 |
| Other liabilities | $5,920 |
| Total liabilities | $174,815 |
| Net assets without donor restrictions | $878,320 |
| 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 | $1,053,135 |