Overview
What is Fortunate Futures Corporation?
Fortunate Futures Corporation, situated in Milwaukee, Wisconsin, is a dedicated nonprofit organization that focuses on social services and educational awareness. They offer a variety of resources to over 1,000 families, providing crucial assistance such as housing placement for over 300 individuals. Their mission is to bridge the gap between clients and the state and local resources they require, ensuring a safer, improved quality of life. Through their work, they promote social service education and facilitate the utilization of these vital resources.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Fortunate Futures Corporation received a Two-Star out of Four Star rating from Charity Navigator, indicating there are significant areas for improvement. The organization scored 60% overall, with particular weaknesses in its governance and financial transparency. Notably, it lacks independent board members, as none of the eight board members are independent, which raises concerns about oversight and accountability.
Despite these governance issues, the nonprofit shows a positive commitment to its mission, as evidenced by a strong program expense ratio of 71.59%, indicating that a substantial portion of its budget is directed towards its programs. Additionally, the organization has demonstrated a solid liability to assets ratio of 0.93%, suggesting sound financial health in terms of managing obligations.
However, limitations are evident in the absence of certain key policies and documentation, including a whistleblower policy and board meeting minutes, which can undermine transparency and trust. Furthermore, the financial statements are not accessible, which may hinder potential donors from making informed decisions. Overall, while the organization is effective in program spending, it needs to address its governance and transparency issues to improve its standing and credibility.
This AI summary has been generated from information found on Charity Navigator.
Is Fortunate Futures Corporation legitimate?
Fortunate Futures Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fortunate Futures Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $235,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Fortunate Futures Corporation?
Fortunate Futures Corporation's mission is centered around providing social services and educational awareness. The organization aims to make clients aware of the resources available to them and facilitates their access to these resources. Their mission is to enhance the lives of their clients, striving for a safe and quality existence. They have served over a thousand families and successfully placed over 300 clients in housing, as well as aiding them in employment and location matters.
Who is the CEO of Fortunate Futures Corporation?
Demaryl H Howard is the Chief Executive Officer of Fortunate Futures Corporation. The CEO's salary of Fortunate Futures Corporation is $235,000 and their total compensation is $235,000.
What is the revenue of Fortunate Futures Corporation?
Fortunate Futures Corporation's revenue in 2021 was $1,321,462.
Who are the executives of Fortunate Futures Corporation and what are their salaries?
There is 1 key member and their salary:
- Compensation: $235,000
- Related: $0
- Other: $0
Where can I find the form 990 for Fortunate Futures Corporation?
Fortunate Futures Corporation's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Fortunate Futures Corporation
Fortunate Futures Corporation, a nonprofit organization, is dedicated to providing social service education and making resources accessible to those in need. Its mission is to educate individuals and families about the various resources available to them, with the ultimate goal of improving their quality of life. The corporation strives to provide social services, acting as a bridge between clients and the state and local resources they require for their safety and well-being. In practice, Fortunate Futures Corporation has served over 1,000 families and successfully placed over 300 clients in housing, helping them secure employment locations as well. The organization's efforts aim to empower individuals and families to navigate the social services landscape, ultimately improving their living conditions and overall quality of life.
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Impact
October, 2024
Fortunate Futures Corporation significantly impacts the Milwaukee community by enhancing access to essential social services and educational resources. By successfully serving over 1,000 families, the organization plays a pivotal role in raising awareness about available resources, ensuring that individuals can navigate the complexities of social services more effectively.
One of its key achievements is the placement of over 300 clients into stable housing, addressing a critical need in the community and fostering a foundation for long-term well-being. Additionally, Fortunate Futures Corporation assists individuals in securing employment, empowering them to achieve financial independence and stability.
The organization's mission is centered around educating clients and connecting them with local and state resources, ultimately contributing to a safer, higher quality of life for community members. By focusing on these educational initiatives, Fortunate Futures Corporation not only provides immediate support but also equips individuals with the knowledge and tools necessary to create sustainable improvements in their lives.
This information is meant to be a general summary of Fortunate Futures Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2021.
- Gross Receipts: $1,321,462
Assets and Liabilities:
- Total Assets: $320,856
- Total Liabilities: $10,852
- Net Assets: $310,004
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Organization Details
Founding Year
2013
Phone
(414) 393-7151Principal Officer
Demaryl H Howard
Main Address
2821 N 4th Street, Milwaukee, WI, 53212
NTEE Category
Code: B60 - Education
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