Future Wings Holding Co
- Assets
- $27.8m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 10/2018
- Data as of
- 06/2022
- EIN
- 82-4877218
Organization Overview
Future Wings Holding Co is located in Philadelphia, PA. The organization was established in 2018. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Future Wings Holding Co is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES CHARTER SCHOOL BUILDING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vince Thomas President | 1 | $0 | |
Kathleen O'connell Vice President And Treasurer | 1 | $0 | |
Michael Maholick Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,453 |
| Dividends & Interest | $0 |
| Net Rental Income | $1,035,456 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,333,157 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $767,835 |
| Taxes | $0 |
| Depreciation | $294,248 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $9,427 |
| Total operating and administrative expenses | $1,081,510 |
| Contributions, gifts, grants paid | $15,000 |
| Total expenses and disbursements | $1,096,510 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,103,156 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $14,464,704 |
| 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 | $0 |
| Net Land, buildings, and equipment | $12,197,022 |
| Other assets | $0 |
| Total assets | $27,764,882 |
| Accounts payable and accrued expenses | $63,652 |
| Grants payable | $0 |
| Deferred revenue | $14,024,955 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $13,943,897 |
| Total liabilities | $28,032,504 |