Bright Future Foundation Inc
- Assets
- $355.5k
- Revenue
- $282.0
- Investments
- $340.7k
- Employees
- 0
- Location
- Sandy, UT
- Founding
- 10/2015
- Data as of
- 12/2022
- EIN
- 47-3344546
Organization Overview
Bright Future Foundation Inc is located in Sandy, UT. The organization was established in 2015. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Bright Future Foundation 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, Bright Future Foundation Inc generated $282.0 in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (37.3%) each year. All expenses for the organization totaled $24.1k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Bright Future Foundation Inc has awarded 16 individual grants totaling $107,533. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris T Liu President | 1 | $0 | |
Yixi Cao Treasurer | 1 | $0 | |
Collin Ard Secretary | 1 | $2,392 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $9,636 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$9,354 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $282 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $2,392 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $436 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $470 |
| Total operating and administrative expenses | $4,113 |
| Contributions, gifts, grants paid | $20,000 |
| Total expenses and disbursements | $24,113 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $14,728 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $70,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $355,454 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Bright Future Foundation Inc has awarded $22,800 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF UTAH PURPOSE: FOR SCHOLARSHIP PROGRAM | $20,000 |
HONNOLD FOUNDATION PURPOSE: FOR PROGRAM ACTIVITIES | $2,800 |