Future Is Now Schools- New Orleans

Nonprofit profile at a glance

EIN
453579667
IRS 990 coverage
2011–2014
Forms available
Form 990 2014
Location
New Orleans, LA, USA
Phone
5043736211
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Women's Rights

Reported finances

Revenue
$20,520
Expenses
$21,192
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

1 person listed

People named in this filing

  • STEVE BARR (BOARD CHAIRMAN)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To prepare students for success in college, leadership and life. To create a small college and career-preparatory high school that unifies the efforts of family, community and school to foster life-long learning, social responsibility and academic excellence. See statement under program service accomplishments below.

What it reported doing in 2014

The school's board of directors resolved to turn in its charter effective june 30, 2014. Since activities were not sufficient to continue operating the school, the board found it necessary to dissolve the school and proceed with winding up of the affairs of the school in accordance with the nonprofit corporation law of Louisiana.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 90
  • Accountability: 24
  • Sustainability: 31
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.1%; rating input score 96
  • Program expense ratio: 93%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: Fail

Sustainability

  • Operating margin: -3.3%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: -197.4% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -17.8% per year; rating input score 0; 30th percentile among comparable filings
  • Asset growth: -60.4% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 96.1% of revenue deployed · 93% of spending went to programs
  • Governance: 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $20K in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 4 filing years from 2011 to 2014
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Sustainability: Operating margin scored 50/100.
  • High — Growth: Asset growth scored 0/100.