Nonprofit · EIN 20-5496382
FUTURES IN EDUCATION
Tax-exempt · BROOKLYN, NY 11215
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| August 31, 2025 | 990 | $10,869,502 | $7,761,656 | $3,107,846 | $16,328,976 | $322,019 | $16,006,957 |
| August 31, 2024 | 990 | $7,715,662 | $7,388,377 | $327,285 | $11,991,220 | $332,266 | $11,658,954 |
| August 31, 2023 | 990 | $9,429,112 | $7,408,139 | $2,020,973 | $12,150,556 | $1,251,847 | $10,898,709 |
Financial details: 990 for the year ended August 31, 2025
Revenue
- Contributions, gifts and grants
- $10,345,304
- of which government grants
- $54,714
- Program service revenue
- $0
- Investment income
- $699,080
- Net gain from sales of assets
- $426,024
- Net income from fundraising events
- -$184,279
- Other revenue
- -$174,882
Expenses
- Grants and similar amounts paid
- $6,289,132
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $3,006
- Accounting fees
- $70,640
- Occupancy
- $45,201
- Travel
- $7,531
- Program services (functional)
- $6,831,715
- Management and general (functional)
- $548,380
- Fundraising (functional)
- $381,561
Balance sheet and other
- Total assets, start of year
- $11,991,220
- Total assets, end of year
- $16,328,976
- Total liabilities, end of year
- $322,019
- Net assets, end of year
- $16,006,957
- Publicly traded securities
- $7,028,075
- Net assets without donor restrictions
- $1,609,064
- Net assets with donor restrictions
- $14,397,893
- Gross receipts
- $13,485,117
- Employees
- 0
- Volunteers
- 22
- Year formed
- 2006
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended August 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MS VERONICA TSANG | CHAIRPERSON Trustee or director, Officer | 2 | $0 |
| MR MARTIN COTTINGHAM VICE | CHAIRPERSON Trustee or director, Officer | 2 | $0 |
| REVEREND KEVIN P ABELS | TRUSTEE Trustee or director | 2 | $0 |
| MRS JULIA MATTONE BELLOW | TRUSTEE Trustee or director | 2 | $0 |
| BISHOP ROBERT J BRENNAN | TRUSTEE Trustee or director | 2 | $0 |
| MR ROBERT B CATELL | TRUSTEE Trustee or director | 2 | $0 |
| REV MSGR DAVID L CASSATO | TRUSTEE THRU OCT 2024 Trustee or director | 2 | $0 |
| MRS REGINA DEDICK | TRUSTEE Trustee or director | 2 | $0 |
| MR JOHN G DUANE | TRUSTEE Trustee or director | 2 | $0 |
| MR THOMAS FLOOD | TRUSTEE Trustee or director | 2 | $0 |
| MR CHRISTIAN GARCIA | TRUSTEE THRU OCT 2024 Trustee or director | 2 | $0 |
| MR WILLIAM J HOGAN | TRUSTEE Trustee or director | 2 | $0 |
| MR WILLAIM MAIER | TRUSTEE THRU DEC 2024 Trustee or director | 2 | $0 |
| DEACON KEVIN MCCORMACK | TRUSTEE Trustee or director | 2 | $0 |
| MRS DONNA MURPHY | TRUSTEE THRU MAR 2025 Trustee or director | 2 | $0 |
10 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MRS ANA OLIVEIRA | TRUSTEE Trustee or director | 2 | $0 |
| MR LESTER J OWENS | TRUSTEE Trustee or director | 2 | $0 |
| MRS ROSEANN PARADISO FODERA | ESQ. TRUSTEE Trustee or director | 2 | $0 |
| MR CARMINE RUBINO | TRUSTEE Trustee or director | 2 | $0 |
| MR JOSEPH SCIAME | TRUSTEE Trustee or director | 2 | $0 |
| MR CARLO A SCISSURA ESQ | TRUSTEE Trustee or director | 2 | $0 |
| MR STEVEN STELLA | TRUSTEE Trustee or director | 2 | $0 |
| MR JOHN NOTARO | EXECUTIVE DIRECTOR Officer | 14 | $0 |
| MRS AIDA TORRES | SECRETARY Officer | 0.8 | $0 |
| MRS NICOLE STEINWEISS | TREASURER Officer | 2 | $0 |
990 for the year ended August 31, 2024: 29 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MS VERONICA TSANG | CHAIRPERSON Trustee or director, Officer | 2 | $0 |
| MR MARTIN COTTINGHAM VICE | CHAIRPERSON Trustee or director, Officer | 2 | $0 |
| MR ROBERT F GARTLAND | VICE CHAIR THRU APR 2024 Trustee or director, Officer | 2 | $0 |
| REVEREND KEVIN P ABELS | TRUSTEE Trustee or director | 2 | $0 |
| BISHOP ROBERT J BRENNAN | TRUSTEE Trustee or director | 2 | $0 |
| MR ROBERT B CATELL | TRUSTEE Trustee or director | 2 | $0 |
| REV MSGR DAVID L CASSATO | TRUSTEE Trustee or director | 2 | $0 |
| MRS REGINA DEDICK | TRUSTEE Trustee or director | 2 | $0 |
| MR JOHN G DUANE | TRUSTEE Trustee or director | 2 | $0 |
| MR THOMAS FLOOD | TRUSTEE Trustee or director | 2 | $0 |
| MR CHRISTIAN GARCIA | TRUSTEE Trustee or director | 2 | $0 |
| REV MSGR JAMIE J | GIGANTIELLO TRUSTEE THRU NOV 2023 Trustee or director | 2 | $0 |
| MR LOUIS GRASSI | TRUSTEE THRU APR 2024 Trustee or director | 2 | $0 |
| MR WILLIAM J HOGAN | TRUSTEE Trustee or director | 2 | $0 |
| MR WILLAIM MAIER | TRUSTEE Trustee or director | 2 | $0 |
| MR JOSEPH MATTONE SR ESQ | TRUSTEE THRU MAR 2024 Trustee or director | 2 | $0 |
| DEACON KEVIN MCCORMACK | TRUSTEE Trustee or director | 2 | $0 |
| MRS DONNA MURPHY | TRUSTEE Trustee or director | 2 | $0 |
| MRS ANA OLIVEIRA | TRUSTEE Trustee or director | 2 | $0 |
| MR LESTER J OWENS | TRUSTEE Trustee or director | 2 | $0 |
| MRS ROSEANN PARADISO FODERA | ESQ. TRUSTEE Trustee or director | 2 | $0 |
| HON A GAIL PRUDENTI | TRUSTEE THRU JUN 2024 Trustee or director | 2 | $0 |
| MR CARMINE RUBINO | TRUSTEE Trustee or director | 2 | $0 |
| MR JOSEPH SCIAME | TRUSTEE Trustee or director | 2 | $0 |
| MR CARLO A SCISSURA ESQ | TRUSTEE Trustee or director | 2 | $0 |
| MR STEVEN STELLA | TRUSTEE Trustee or director | 2 | $0 |
| MR JOHN NOTARO | EXECUTIVE DIRECTOR Officer | 14 | $0 |
| MRS AIDA TORRES | SECRETARY Officer | 0.8 | $0 |
| MRS NICOLE STEINWEISS | TREASURER Officer | 2 | $0 |
990 for the year ended August 31, 2023: 27 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MS VERONICA TSANG | CHAIRPERSON Trustee or director, Officer | 2 | $0 |
| MR MARTIN COTTINGHAM VICE | CHAIRPERSON Trustee or director, Officer | 2 | $0 |
| MR ROBERT F GARTLAND | TRUSTEE Trustee or director | 2 | $0 |
| BISHOP ROBERT J BRENNAN | TRUSTEE Trustee or director | 2 | $0 |
| MR ROBERT B CATELL | TRUSTEE Trustee or director | 2 | $0 |
| REV MSGR DAVID L CASSATO | TRUSTEE Trustee or director | 2 | $0 |
| MRS REGINA DEDICK | TRUSTEE Trustee or director | 2 | $0 |
| MR JOHN G DUANE | TRUSTEE Trustee or director | 2 | $0 |
| MR THOMAS FLOOD | TRUSTEE Trustee or director | 2 | $0 |
| MR CHRISTIAN GARCIA | TRUSTEE Trustee or director | 2 | $0 |
| REV MSGR JAMIE J | GIGANTIELLO TRUSTEE Trustee or director | 2 | $0 |
| MR LOUIS GRASSI | TRUSTEE Trustee or director | 2 | $0 |
| MR WILLIAM J HOGAN | TRUSTEE Trustee or director | 2 | $0 |
| MR WILLAIM MAIER | TRUSTEE Trustee or director | 2 | $0 |
| MR JOSEPH MATTONE SR ESQ | TRUSTEE Trustee or director | 2 | $0 |
| MRS DONNA MURPHY | TRUSTEE Trustee or director | 2 | $0 |
| MRS ANA OLIVEIRA | TRUSTEE Trustee or director | 2 | $0 |
| MR LESTER J OWENS | TRUSTEE Trustee or director | 2 | $0 |
| MRS ROSEANN PARADISO FODERA | ESQ. TRUSTEE Trustee or director | 2 | $0 |
| HON A GAIL PRUDENTI | TRUSTEE Trustee or director | 2 | $0 |
| MR CARMINE RUBINO | TRUSTEE Trustee or director | 2 | $0 |
| MR JOSEPH SCIAME | TRUSTEE Trustee or director | 2 | $0 |
| MR CARLO A SCISSURA ESQ | TRUSTEE Trustee or director | 2 | $0 |
| MR STEVEN STELLA | TRUSTEE Trustee or director | 2 | $0 |
| MR JOHN NOTARO | EXECUTIVE DIRECTOR Officer | 14 | $0 |
| MRS AIDA TORRES | SECRETARY Officer | 0.8 | $0 |
| MRS NICOLE STEINWEISS | TREASURER Officer | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 243 PROSPECT PARK W, BROOKLYN, NY 11215-5807
- Principal officer (990 for 2024)
- JOHN NOTARO, 243 PROSPECT PARK WEST, BROOKLYN, NY 11215
- Signed the 990
- JOHN NOTARO, EXECUTIVE DIRECTOR
- Phone
- (718) 965-7308
- Website
- WWW.FUTURESINEDUCATION.ORG
- Return prepared by
- PKF O'CONNOR DAVIES ADVISORY LLC
Mission
THE MISSION OF FUTURES IN EDUCATION IS TO ENSURE THAT THE GIFT OF AN EXCELLENT CATHOLIC EDUCATION CONTINUES TO BE A VIABLE OPTION FOR CURRENT AND FUTURE GENERATIONS OF DESERVING STUDENTS IN BROOKLYN AND QUEENS. AS A SCHOLARSHIP GRANTING ORGANIZATION, IT PROVIDES TUITION ASSISTANCE TO THE NEEDIEST OF THOSE STUDENTS, REGARDLESS OF THEIR RELIGIOUS DENOMINATION, THROUGH ENDOWMENT FUNDS AND FUNDRAISING PROGRAMS.
Program accomplishments
- FUTURES IN EDUCATION SCHOLARSHIP PROGRAM MAKES A QUALITY CATHOLIC EDUCATION AVAILABLE TO AS MANY FAMILIES AS POSSIBLE BY OFFERING PARTIAL SCHOLARSHIPS TO FAMILIES IN FINANCIAL NEED OF TUITION ASSISTANCE FOR STUDENTS IN PRE-K TO 8TH GRADE ENROLLED IN CATHOLIC GRAMMAR SCHOOLS IN BROOKLYN AND QUEENS. IN 2025, THE PROGRAM AWARDED SCHOLARSHIPS TO 1,576 STUDENTS FOR A TOTAL AMOUNT OF $2,307,726.Expenses $2,307,726 · grants $2,307,726
- TEDDY FORSTMANNIN CONJUNCTION WITH THE CHILDREN'S SCHOLARSHIP FUND (CSF), THE PROGRAM STIMULATES ENROLLMENT OF STUDENTS FROM PUBLIC SCHOOLS INTO CATHOLIC SCHOOLS FOR THOSE FAMILIES WITH FINANCIAL NEED OF TUITION ASSISTANCE IN LINE WITH CSF'S AIM TO MAXIMIZE EDUCATIONAL OPPORTUNITY FOR ALL CHILDREN. IN 2025, THE PROGRAMS AWARDED SCHOLARSHIPS TO 1,555 STUDENTS FOR A TOTAL AMOUNT OF $2,112,598.Expenses $2,112,598 · grants $2,112,598
- BE AN ANGEL TO A STUDENT PROGRAM A SPONSORSHIP PROGRAM WHERE A DONOR, AN ANGEL, PAYS A PORTION OF THE STUDENT'S TUITION FOR A FAMILY WITH EXTRAORDINARY NEED TO HELP SEND THEIR CHILDREN TO A CATHOLIC SCHOOL THEY LOVE. THE STUDENT SENDS CORRESPONDENCE TO THE ANGEL THROUGHOUT THE SCHOOL YEAR, INCLUDING LETTERS, GREETINGS AND REPORT CARDS. IN 2025, THE PROGRAM AWARDED SCHOLARSHIPS TO 720 STUDENTS FOR A TOTAL AMOUNT OF $1,689,970.Expenses $1,689,970 · grants $1,689,970
- OTHER NEEDS-BASED SCHOLARSHIPSFUTURES IN EDUCATION PROVIDES ADDITIONAL SCHOLARSHIPS TO HIGH SCHOOL STUDENTS AND OTHER STUDENTS IN FINANCIAL NEED THAT DO NOT FALL INTO THE CATEGORIES OF THE THREE PROGRAMS LISTED ABOVE.Expenses $721,421 · grants $178,838
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in August, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | August 31, 2026 | January 15, 2027 | Not due yet |
| 2024 | August 31, 2025 | January 15, 2026 | 990 on file |
| 2023 | August 31, 2024 | January 15, 2025 | 990 on file |
IRS record
- EIN
- 20-5496382
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2007
- Accounting year ends
- August
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B12)
- Assets (IRS master file)
- $16,328,976
- Income (IRS master file)
- $13,485,117
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | August 2025 | $10,869,502 | $7,761,656 | $16,328,976 | XML |
| 990 | August 2024 | $7,715,662 | $7,388,377 | $11,991,220 | XML |
| 990 | August 2023 | $9,429,112 | $7,408,139 | $12,150,556 | XML |
| 990 | August 2022 | $8,418,003 | $7,410,168 | $11,513,350 | IRS |
| 990 | August 2021 | – | – | – | IRS |
| 990 | August 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 20-5496382).
Questions about FUTURES IN EDUCATION
- What is the EIN of FUTURES IN EDUCATION?
- The employer identification number (EIN) of FUTURES IN EDUCATION is 20-5496382.
- Is FUTURES IN EDUCATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2007.
- Are donations to FUTURES IN EDUCATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FUTURES IN EDUCATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FUTURES IN EDUCATION due?
- The return for tax year 2025 (the year ending August 31, 2026) is due January 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FUTURES IN EDUCATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended August 2025.
- Who is the principal officer of FUTURES IN EDUCATION?
- The 990 for the year ended August 31, 2025 names JOHN NOTARO.
- Who are the officers and directors of FUTURES IN EDUCATION?
- The 990 for the year ended August 31, 2025 lists 25 people; 0 received compensation from the organization.
- How much revenue does FUTURES IN EDUCATION have?
- On its 990 for the year ended August 31, 2025 it reported revenue of $10,869,502, expenses of $7,761,656 and total assets of $16,328,976 at year end.
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