Building Tomorrows Schools Inc
- Assets
- $54.0m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Palm Beach Gardens, FL
- Founding
- Data as of
- 12/2023
- EIN
- 87-2788097
Organization Overview
Building Tomorrows Schools Inc is located in Palm Beach Gardens, FL. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, 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. Building Tomorrows Schools Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION IS FORMED TO FOSTER, PROMOTE AND SUPPORT ACADEMIC EXCELLENCE BY ADDRESSING CRITICAL INFRA- STRUCTURE AND CAPACITY NEEDS THROUGH THE DEVELOPMENT OF ALLIANCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUILDING TOMORROW'S SCHOOLS, INC. ('BTS') IS A NOT-FOR-PROFIT CORPORATION FORMED TO FOSTER, PROMOTE AND SUPPORT ACADEMIC EXCELLENCE BY ADDRESSING CRITICAL ACADEMIC INFRASTRUCTURE AND CAPACITY NEEDS THROUGH THE DEVELOPMENT OF STRATEGIC ALLIANCES, PROVIDING FUNDING OPPORTUNITIES FOR LOCAL MUNICIPALITIES, SCHOOLS, SCHOOL DISTRICTS AND PROGRAMS, AND ADVANCING EDUCATIONAL INITIATIVES DESIGNED TO REALIZE SAFE, SECURE AND TECHNOLOGICALLY ADVANCED SCHOOLS WHILE ALSO LESSENING THE BURDENS ON GOVERNMENT IN THE AREA OF EDUCATION, ESPECIALLY TO UNDERSERVED POPULATIONS. BTS PROVIDES A FACILITY-LEASING PROGRAM THAT ALLOWS A SCHOOL DISTRICT TO MAKE AFFORDABLE ANNUAL PAYMENTS AND AVOID UNAFFORDABLE UPFRONT CAPITAL OUTLAYS. BY ALLOWING SCHOOL DISTRICTS TO MAKE MORE JUDICIOUS USE OF THEIR CAPITAL OUTLAY, THIS PROGRAM ALSO PROVIDES EQUITY TO STUDENTS WITHIN OLDER SCHOOLS, USUALLY LOCATED IN LOW-INCOME AREAS, THAT DESPERATELY NEED MAJOR RENOVATIONS AND SAFETY IMPROVEMENTS DUE TO THEIR AGE AND OUTDATED DESIGNS. OFTEN THESE NEEDS ARE NOT MET DUE TO THE IMMEDIATE NECESSITY OF PROVIDING NEW FACILITIES IN DEVELOPING AREAS.
BUILDING TOMORROW'S SCHOOLS. INC. PARTICIPATED AS A DONOR TO A GROUP THAT FEEDS THE HOMELESS TWICE A MONTH IN PALM BEACH COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Bracy Board Member | Trustee | 1 | $0 |
Tisa L Queen-Oldham Board Member | Trustee | 1 | $0 |
Leicha Sanmiguel Board Member | Trustee | 1 | $0 |
Jennifer Russell Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,300 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,300 |
| Total Program Service Revenue | $1,000,002 |
| Investment income | $729,096 |
| 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 | $1,739,398 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $10,300 |
| 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 | $7,646 |
| Fees for services: Accounting | $41,286 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $280 |
| Office expenses | $75,000 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,364,516 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $688,152 |
| Insurance | $1,345 |
| All other expenses | $0 |
| Total functional expenses | $2,254,996 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,443 |
| Savings and temporary cash investments | $2,677,905 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,991,219 |
| 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 | $48,266,236 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $53,970,803 |
| Accounts payable and accrued expenses | $51,534,052 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $496,190 |
| 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 | $3,048,565 |
| Total liabilities | $55,078,807 |
| Net assets without donor restrictions | -$1,108,004 |
| 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 | $53,970,803 |