Brighter Horizon
- Assets
- $769.0k
- Revenue
- $511.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 05/2019
- Data as of
- 12/2022
- EIN
- 83-0995509
Organization Overview
Brighter Horizon is located in Philadelphia, PA. The organization was established in 2019. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Brighter Horizon 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, Brighter Horizon generated $511.0k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 36.8% each year . All expenses for the organization totaled $391.6k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF BRIGHTER HORIZON FOUNDATION IS TO OPERATE FOR EDUCATIONAL ADVANCEMENT AND FOR OTHER CHARITABLE PURPOSES BY THE DISTRIBUTION OF FUNDS FOR SUCH PURPOSES AND, PARTICULARY, TO ACT AS A SCHOLARSHIP FUNDING VEHICLE TO HELP FIRST GENERATION COLLEGE-PURSUING HIGH SCHOOL STUDENTS COMPLETE A FOUR-YEAR COLLEGE EDUCATION, USING SELECTION CRITERIA BASED UPON ACADEMIC AND FINANCIAL NEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP PROGRAM - THE PROGRAM PROVIDEDS CRITICAL RESOURCES TO ASSIST FIRST GENERATION STUDENTS AND THEIR FAMILIES THROUGHOUT THE VARIOUS STAGES OF THE HIGH SCHOOL TO COLLEGE TRANSITION PROCESS. GRANTS COMMENCED IN 2020.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yvette D Bright President | OfficerTrustee | 10 | $0 |
Alana W Robinson Chair | OfficerTrustee | 1 | $0 |
Alan Krigstein Vice Chair | OfficerTrustee | 1 | $0 |
Richard Lauro CPA Treasurer | OfficerTrustee | 1 | $0 |
Lisa Santare Director | Trustee | 1 | $0 |
Ky'a Jackson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $218,400 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $336,661 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $555,061 |
| Total Program Service Revenue | $0 |
| Investment income | $8,453 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$53,564 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $511,049 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $184,155 |
| 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 | $0 |
| Fees for services: Legal | $4,500 |
| Fees for services: Accounting | $9,224 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,414 |
| Fees for services: Other | $71,208 |
| Advertising and promotion | $5,166 |
| Office expenses | $18,517 |
| Information technology | $6,768 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $16,281 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $698 |
| All other expenses | $10,635 |
| Total functional expenses | $391,621 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $248,111 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $99,337 |
| 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 | $13,034 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $408,490 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $768,972 |
| Accounts payable and accrued expenses | $27,571 |
| 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 | $27,571 |
| Net assets without donor restrictions | $617,898 |
| Net assets with donor restrictions | $123,503 |
| 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 | $768,972 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Brighter Horizon has recieved totaling $100,010.
| Awarding Organization | Amount |
|---|---|
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $50,000 |
Patricia Kind Family Foundation Philadelphia, PA PURPOSE: GENERAL CHARITABLE PURPOSES | $25,000 |
William Penn Foundation Philadelphia, PA PURPOSE: RACIAL EQUITY GRANT FUND | $20,000 |
Robert W And Marie K Bogle Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $3,000 |
Chubb Charitable Foundation Philadelphia, PA PURPOSE: MATCHING GIFTS | $2,010 |
A Good Measure Foundation Philadelphia, PA PURPOSE: HELPING DISADVANTAGE YOUTH GO TO COLLEGE | $0 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Donald B And Dorothy L Stabler Foundation Harrisburg, PA | $483,040,822 | $63,822,611 |
Fund For Charitable Giving Pittsburgh, PA | $174,176,180 | $114,342,351 |
Hope For Youth Inc Amityville, NY | $10,865,800 | $14,335,992 |
Margaret And Robert Walter Foundation Columbus, OH | $119,634,869 | $20,893,833 |
Lauren And Lee Fixel Family Foundation Inc New York, NY | $40,185,371 | $21,974,777 |
Charitable Pharmacy Of Central Ohio Columbus, OH | $4,066,781 | $13,066,074 |
Joint Council For Economic Opportunity Of Clinton & Franklin Plattsburgh, NY | $5,357,972 | $10,698,049 |
Health Management Group Ltd Getzville, NY | $13,266,135 | $8,802,636 |
Roy Lichtenstein Foundation New York, NY | $85,182,586 | $2,378,185 |
Legacy Ministries International Miamisburg, OH | $19,772,122 | $9,496,870 |
Hampton Classic Horse Show Inc Bridgehampton, NY | $1,702,497 | $4,948,481 |
Peggy Mcgrath Rockefeller Foundation New York, NY | $16,278,993 | $1,905,197 |