Georgia Bright Futures Foundation Inc
- Assets
- $287.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 11/2016
- Data as of
- 12/2020
- EIN
- 81-2603696
Organization Overview
Georgia Bright Futures Foundation Inc is located in Atlanta, GA. The organization was established in 2016. 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. Georgia Bright Futures 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 12/2020, Georgia Bright Futures Foundation Inc generated $196.8k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 14.0% each year . All expenses for the organization totaled $216.4k during the year ending 12/2020. While expenses have increased by 19.7% per year over the past 4 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3
SCHOLARSHIPS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aziz Dhanani Director | 1 | $0 | |
Fareed Ahmed Director | 1 | $0 | |
Anis Sherali President | 1 | $0 | |
Ahmed Awad Director | 1 | $0 | |
Tasnim Alamgir Treasurer | 1 | $0 | |
Jamal Sheikh Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $196,829 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $196,829 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $190,283 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $21,075 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $5,065 |
| Total expenses | $216,423 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $287,302 |
| Other assets | $0 |
| Total assets | $287,302 |
| Total liabilities | $238,788 |
| Net assets or fund balances | $48,514 |
Grants Awarded
Over the last fiscal year, Georgia Bright Futures Foundation Inc has awarded $60,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Peachtree Corners, GA PURPOSE: SCHOLARSHIPS AND TUITION GRANTS | $35,000 |
Atlanta, GA PURPOSE: SCHOLARSHIPS AND TUITION GRANTS | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Georgia Bright Futures Foundation Inc has recieved totaling $44,475.
| Awarding Organization | Amount |
|---|---|
Stand Together Foundation Arlington, VA PURPOSE: General Operating | $44,475 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Education Loan Finance Inc Knoxville, TN | $2,281,627,256 | $227,234,757 |
Educational Foundation Inc Chapel Hill, NC | $193,854,804 | $63,834,996 |
Nc Student Aid Association Inc Raleigh, NC | $102,296,557 | $23,877,668 |
Georgia Goal Scholarship Program Inc Peachtree Corners, GA | $58,000,031 | $45,569,079 |
Meeting Street Schools Charleston, SC | $31,326,851 | $31,027,510 |
Georgia State University Athletic Association Inc Atlanta, GA | $12,025,331 | $28,251,593 |
The North Carolina A&t Real Estate Foundation Inc Greensboro, NC | $169,150,909 | $33,021,773 |
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
Vinik Family Foundation Tampa, FL | $192,173,639 | $29,773,809 |
The Hartwell Foundation Corporation Memphis, TN | $88,595,532 | $17,280,759 |
Morehead Cain Foundation Chapel Hill, NC | $0 | $13,275,596 |
Education Foundation Scholarship Endowment Trust Chapel Hill, NC | $389,903,195 | $25,351,334 |