Future Kings Inc
- Assets
- $112.5k
- Revenue
- $327.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Dumfries, VA
- Founding
- 06/2014
- Data as of
- 12/2023
- EIN
- 46-5254881
Organization Overview
Future Kings Inc is located in Dumfries, VA. The organization was established in 2014. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Future Kings 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, Future Kings Inc generated $327.8k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 29.7% each year . All expenses for the organization totaled $269.0k during the year ending 12/2023. While expenses have increased by 26.0% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
WE ARE ENTREPRENEURIAL EDUCATION PROGRAM. OUR GOAL IS TO HELP BOYS FROM UNDERSERVED COMMUNITIES START AND GROW THEIR OWN STEM -BASED BUSINESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR STEM CAMPS SERVED 50 BOYS AND GIRLS FROM UNDERSERVED COMMUNITIES. THE CAMPS OPERATED FROM 8:30AM TO 4:30PM MONDAY THROUGH FRIDAY. LUNCH WAS PROVIDED. THERE WERE FOUR CAMPS THAT OPERATED PROVIDED INTRODUCTORY SKILLS IN CYBER SECURITY, STOCK MARKET INVESTING, COMPUTER GAME DESIGN, AND 3-DPRINTING. THE GOAL OF THE CAMPS WAS TO EXCITE STUDENTS ABOUT THE FUN AND ENTREPRENEURIAL OPPORTUNITIES IN THESE TECHNICAL FIELDS. WE WANT TO GROW THIS ACTIVITY TO SERVE AT LEAST 300 STUDENTSPER SUMMER. THE PLAN IS TO MAINTAIN THE FOUNDATIONAL GOAL FOR THIS ACTIVITY, BUT TOGROW ITS REVENUE SO THAT IS BECOMES REVENUE GENERATING TO THE DEGREE THAT IT CAN BECOME A SIGNIFICANT CONTRIBUTOR TO THE FUTURE KINGS GOAL OF BEING SELF-SUSTAINING.VOLUNTEERS PROVIDED ALL GENERAL AND ADMINISTRATIVE STAFF FOR FUTURE KING. THE VALUE THAT THOSE VOLUNTEER HOURS WAS $205,000 IN 2023.
OUR STEM CAMPS SERVED 50 BOYS AND GIRLS FROM UNDERSERVED COMMUNITIES. THE CAMPS OPERATED FROM 8:30AM TO 4:30PM MONDAY THROUGH FRIDAY. LUNCH WAS PROVIDED. THERE WERE FOUR CAMPS THAT OPERATED PROVIDED INTRODUCTORY SKILLS IN CYBER SECURITY, STOCK MARKET INVESTING, COMPUTER GAME DESIGN, AND 3-DPRINTING. THE GOAL OF THE CAMPS WAS TO EXCITE STUDENTS ABOUT THE FUN AND ENTREPRENEURIAL OPPORTUNITIES IN THESE TECHNICAL FIELDS. WE WANT TO GROW THIS ACTIVITY TO SERVE AT LEAST 300 STUDENTSPER SUMMER. THE PLAN IS TO MAINTAIN THE FOUNDATIONAL GOAL FOR THIS ACTIVITY, BUT TOGROW ITS REVENUE SO THAT IS BECOMES REVENUE GENERATING TO THE DEGREE THAT IT CAN BECOME A SIGNIFICANT CONTRIBUTOR TO THE FUTURE KINGS GOAL OF BEING SELF-SUSTAINING.VOLUNTEERS PROVIDED ALL GENERAL AND ADMINISTRATIVE STAFF FOR FUTURE KING. THE VALUE THAT THOSE VOLUNTEER HOURS WAS $205,000 IN 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frederick Gregory Director | Trustee | 5 | $0 |
Wesley Phillips Director | Trustee | 5 | $0 |
Larnce Robinson Director | Trustee | 5 | $0 |
Tshaka Cunningham Director | Trustee | 5 | $0 |
Dexter Cummings Director | Trustee | 5 | $0 |
Dr Arik King Executive Director | OfficerTrustee | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $16,629 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $311,151 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $327,780 |
| Total Program Service Revenue | $311,151 |
| Investment income | $0 |
| 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 | $327,780 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $12,465 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $104,820 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,040 |
| Office expenses | $7,394 |
| Information technology | $16,706 |
| Royalties | $0 |
| Occupancy | $61,281 |
| Travel | $5,516 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,182 |
| Interest | $571 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,203 |
| Insurance | $1,683 |
| All other expenses | $0 |
| Total functional expenses | $269,014 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,533 |
| 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 | $100,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $112,533 |
| Accounts payable and accrued expenses | $28,276 |
| 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 | $28,276 |
| Net assets without donor restrictions | $84,257 |
| 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 | $112,533 |