BRIGHTER MINDS FOR BRIGHTER FUTURES FOUNDATION INC

EIN: 883922961 501(c)(3) Human Services

Somerset, KY

Total Revenue
$5,702
Total Expenses
$5,973
Total Assets
$6,637
Net Assets
$6,637
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2023
Legal Domicile
KY
Tax Period
2024-01-01 to 2024-12-31

BRIGHTER MINDS FOR BRIGHTER FUTURES FOUNDATION INC, founded in 2023, is a micro nonprofit in the Human Services sector that reported $6K in total revenue in fiscal year 2024.

Mission

Brighter Minds for Brighter Futures Foundation works with individuals with mental illness and mild intellectual or developmental disabilities to provide them a means and opportunity to interact in their communities and to connect with peers in a positive environment.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $5,702
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $5,702

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $5,973
Other Expenses $5,973
TOTAL EXPENSES $5,973

Year-over-Year Comparison

2024 2023 Change
Revenue $5,702 N/A N/A
Expenses $5,973 N/A N/A
Net Income $-271 N/A N/A
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
5
Independent Members
5
Employees
N/A
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$0
Total Directors
2
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Greg Speck Director 1.00
Director
$0 $0 $0
Dorothy Burchett Director 5.00
Director
$0 $0 $0
Paula Gibson President 10.00
Officer
$0 $0 $0
Dana Speck Vice president 10.00
Officer
$0 $0 $0
Ralph Gibson Secretary 5.00
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $5,702 $5,973 $6,637 $-271
2023 $13,051 $6,143 $6,908 $6,908
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