Bright Futures

What it reported doing in 2024

Bright futures is dedicated to improving the lives of children and families in western Colorado through integrated services in early childhood care, education, and family support. Operating as an early childhood council, family resource center, and the local coordinating organization (lco) for universal preschool (upk), the organization serves delta, montrose, ouray, san miguel, and san juan counties.key accomplishments in the past fiscal year:1) early childhood quality & workforce development: 80% of licensed childcare providers engaged in quality improvement through Colorado shines. 93 early childhood teachers received pyramid coaching, positively impacting 1,337 children. The organization provided 69 professional development opportunities for early educators.2) family support services: tailored programs strengthened families and improved outcomes for vulnerable children (birth-18). Through parents as teachers (pat), 364 home visits were conducted, and 243 parents attended workshops. The integrated support services team served 39 children with a holistic, child-centered approach. $37,589 was distributed to 8 families through a "flex funding" program to offer basic needs such as housing, food, or transportation.3) san miguel county early childhood support: under the strong start program, bright futures administered quality improvement/capacity-building grants, teacher recognition awards, and childcare financial assistance. A total of $733,785 in grants and financial assistance was awarded. 4) universal preschool implementation: as the state-appointed lco, the organization supported families, school districts, and early childhood providers in five counties to ensure upk access. 5) early childhood infrastructure & expansion: partnering with rural homes early childhood initiative, the organization supports homeownership pathways for family child care providers in ouray county. Temporary state stimulus funding enabled initiatives such as family child care home navigation, and expanded quality improvement grants. 6) americorps early childhood pilot program: recruited 7 americorps members at 4 childcare sites in telluride, montrose, delta, and gunnison. 5 members were recruited last fiscal year, and 1 graduated from the program.bright futures continues to address the region's childcare gaps, enhance family resilience, and improve access to high-quality early learning, ensuring long-term benefits for children and communities.

Financial Efficiency

• Mission deployment rate: 91.1%; rating input score 91
• Program expense ratio: 90%; rating input score 90
• Fundraising efficiency: $17.41 raised per $1 spent on fundraising; rating input score 55; 55th percentile among comparable filings

Transparency & Controls

• Consistency checks: 92.9%; rating input score 93; 13th percentile among comparable filings
• Pay-setting controls: 2 of 6 controls in place; rating input score 33
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 99.3%; rating input score 99; 38th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 8 of 8 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -1.2%; rating input score 29; 29th percentile among comparable filings
• Total-asset coverage ratio: 0.52; rating input score 18; 18th percentile among comparable filings
• Liabilities to assets ratio: 0.21; rating input score 42; 42nd percentile among comparable filings
• Officer compensation ratio: 7.1%; rating input score 41; 41st percentile among comparable filings

Growth

• Program expense growth: 9.1% per year; rating input score 100; 61st percentile among comparable filings
• Revenue growth: 13.2% per year; rating input score 100; 78th percentile among comparable filings
• Asset growth: 9.6% per year; rating input score 100; 57th percentile among comparable filings