Nonprofit · EIN 88-2138119
BRIGHT FUTURE INC
Tax-exempt · ARTESIA, NM 88211
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $126,071 | $88,953 | $37,118 | $164,089 | $2 | $164,087 |
| December 31, 2023 | 990 | $112,620 | $99,601 | $13,019 | $126,969 | $0 | $126,969 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $0
- Investment income
- $189
- Net income from fundraising events
- $125,882
- Other revenue
- $125,882
Expenses
- Grants and similar amounts paid
- $87,874
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $693
- Program services (functional)
- $87,874
- Management and general (functional)
- $1,079
Balance sheet and other
- Total assets, start of year
- $126,969
- Total assets, end of year
- $164,089
- Total liabilities, end of year
- $2
- Net assets, end of year
- $164,087
- Net assets without donor restrictions
- $164,087
- Gross receipts
- $267,887
- Employees
- 0
- Year formed
- 2022
- State of legal domicile
- NM
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 December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Jerron Madrid | President Trustee or director | 0 | $0 |
| Tito Salmon | Vice President Trustee or director | 0 | $0 |
| Ken Clayton | Treasurer Trustee or director | 0 | $0 |
| Joli Harris | Secretary Trustee or director | 0 | $0 |
990 for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Jerron Madrid | President Trustee or director | 0 | $0 |
| Tito Salmon | Vice President Trustee or director | 0 | $0 |
| Ken Clayton | Treasurer Trustee or director | 0 | $0 |
| Joli Harris | Secretary Trustee or director | 0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 333, ARTESIA, NM 88211-0333
- Signed the 990
- Jerron Madrid, President
- Phone
- (575) 703-2679
- Return prepared by
- CAVERN CITY TAX & ACCOUNTING LLC
Mission
We provide scholarships to students at all High Schools in Eddy and Lea County.
Program accomplishments
- Grants for StudentsExpenses $87,874
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 December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 88-2138119
- 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
- 2022
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B82)
- Assets (IRS master file)
- $164,089
- Income (IRS master file)
- $267,887
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $126,071 | $88,953 | $164,089 | XML |
| 990 | December 2023 | $112,620 | $99,601 | $126,969 | XML |
| 990 | December 2022 | $122,345 | $8,395 | $113,950 | 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 88-2138119).
Questions about BRIGHT FUTURE INC
- What is the EIN of BRIGHT FUTURE INC?
- The employer identification number (EIN) of BRIGHT FUTURE INC is 88-2138119.
- Is BRIGHT FUTURE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to BRIGHT FUTURE INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does BRIGHT FUTURE INC 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 BRIGHT FUTURE INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BRIGHT FUTURE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who are the officers and directors of BRIGHT FUTURE INC?
- The 990 for the year ended December 31, 2024 lists 4 people; 0 received compensation from the organization.
- How much revenue does BRIGHT FUTURE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $126,071, expenses of $88,953 and total assets of $164,089 at year end.
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