Building Futures Inc
Building Futures Inc. shows consistent revenue and asset growth with no reported officer compensation.
EIN: 10628266 · Worcester, MA · NTEE: P20 · Updated: 2026-03-27
| Metric | Value |
|---|---|
| Total Revenue | $2.6M |
| Total Expenses | $1.7M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $2,554,032 |
| Net Assets | $450K |
| Transparency Score | 90/100 |
Is Building Futures Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Building Futures Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Building Futures Inc
Building Futures Inc (EIN: 10628266) is a nonprofit organization based in Worcester, MA, classified under NTEE code P20. The organization reported total revenue of $2.6M and total assets of $29.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Building Futures Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Building Futures Inc is a mid-size nonprofit that has been operating for 9 years, with 6 years of IRS 990 filings on record (2018–2023). Revenue has grown at a compound annual rate of 63.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.8M |
| Total Expenses | $1.7M |
| Surplus / Deficit | +$66K |
| Total Assets | $14.9M |
| Total Liabilities | $14.5M |
| Net Assets | $450K |
| Operating Margin | 3.7% |
| Debt-to-Asset Ratio | 97.0% |
| Months of Reserves | 106.3 months |
Financial Health Grade: A
In 2023, Building Futures Inc reported a surplus of $66K with revenue exceeding expenses, holds 106.3 months of operating reserves (strong position), has a debt-to-asset ratio of 97.0% (high leverage).
Financial Trends
Over 6 years of filings (2018–2023), Building Futures Inc's revenue has grown at a compound annual growth rate (CAGR) of 63.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +69.7% | +141.3% | +23.5% |
| 2022 | +30.5% | +51.2% | +50.9% |
| 2021 | +119.9% | -5.9% | +90.9% |
| 2020 | +194.7% | +153.8% | +5404.0% |
| 2019 | -19.6% | +4609.4% | -48.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2017 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Building Futures Inc with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Building Futures Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $66K, with revenue exceeding expenses.
- Debt-to-asset ratio: 97.0%.
Executive Compensation Analysis
Building Futures Inc. consistently reports 0% officer compensation across all six available filings, which is highly unusual for an organization with latest revenue of $2,554,032 and assets of $29,101,025. This either indicates a fully volunteer-led executive team or that executive compensation is categorized differently, warranting further inquiry for complete transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Building Futures Inc's IRS 990 filings:
- Lack of detailed functional expense breakdown (program, admin, fundraising) in provided data
- Unusually low (0%) reported officer compensation for an organization of this size, potentially obscuring executive remuneration details
Strengths
The following positive indicators were identified for Building Futures Inc:
- Consistent and significant revenue growth from $151,900 in 2018 to $2,554,032 in the latest period
- Strong asset accumulation, growing from $147,789 in 2018 to $29,101,025 in the latest period
- Expenses consistently lower than revenue, indicating sound financial management and surplus generation
- No reported officer compensation, suggesting a high dedication of resources to mission or volunteer leadership
Frequently Asked Questions about Building Futures Inc
Is Building Futures Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Building Futures Inc (EIN: 10628266) some concerns. Mission Score: 90/100. 2 red flags identified, 4 strengths noted.
How does Building Futures Inc spend its money?
Building Futures Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Building Futures Inc tax-deductible?
Building Futures Inc is registered as a tax-exempt nonprofit (EIN: 10628266). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Building Futures Inc CEO make?
Building Futures Inc's highest-compensated officer earns $2,554,032 annually. The organization reported $2.6M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Building Futures Inc's spending goes to programs?
Building Futures Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Building Futures Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Building Futures Inc is above average for NTEE category P20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Building Futures Inc located?
Building Futures Inc is headquartered in Worcester, Massachusetts and files with the IRS under EIN 10628266. It is classified under NTEE code P20.
How many years of IRS 990 filings does Building Futures Inc have?
Building Futures Inc has 6 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.6M in total revenue.
How does Building Futures Inc. manage to operate with 0% reported officer compensation given its scale?
The consistent reporting of 0% officer compensation across all filings, even as the organization grew to $2.5M in revenue and $29M in assets, suggests either a fully volunteer executive leadership or that compensation is reported under different expense categories, which would require further clarification from the organization.
What are the specific program activities that Building Futures Inc. funds?
The NTEE code P20 indicates 'Housing & Shelter' as the primary focus, suggesting activities related to providing housing, shelter, or related support services. However, the filings do not provide specific details on the programs themselves.
What is the breakdown of liabilities in the latest period, given the significant asset growth?
While assets are reported at $29,101,025 for the latest period, the corresponding liabilities are not provided in the summary. Previous filings show liabilities often close to assets, such as $14,491,893 against $14,941,865 in 2023, indicating potential debt or obligations related to asset acquisition or operations.
Filing History
IRS 990 filing history for Building Futures Inc showing financial trends over 6 years of public records:
Over 6 years of IRS 990 filings (2018–2023), Building Futures Inc's revenue has grown by 1053.6%, moving from $152K to $1.8M. Total assets increased by 10010.3% over the same period, from $148K to $14.9M. Total functional expenses rose by 40930.9%, from $4K to $1.7M. In its most recent filing year (2023), Building Futures Inc reported a surplus of $66K, with revenue exceeding expenses. The organization holds $14.5M in liabilities against $14.9M in assets (debt-to-asset ratio: 97.0%), resulting in net assets of $450K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.8M | $1.7M | $14.9M | $14.5M | — | — |
| 2022 | $1.0M | $699K | $12.1M | $11.6M | — | View 990 |
| 2021 | $791K | $462K | $8.0M | $7.8M | — | View 990 |
| 2020 | $360K | $491K | $4.2M | $4.3M | — | View 990 |
| 2019 | $122K | $194K | $76K | $0 | — | View 990 |
| 2018 | $152K | $4K | $148K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.8M, expenses of $1.7M, and assets of $14.9M (revenue +69.7% year-over-year).
- 2022: Revenue of $1.0M, expenses of $699K, and assets of $12.1M (revenue +30.5% year-over-year).
- 2021: Revenue of $791K, expenses of $462K, and assets of $8.0M (revenue +119.9% year-over-year).
- 2020: Revenue of $360K, expenses of $491K, and assets of $4.2M (revenue +194.7% year-over-year).
- 2019: Revenue of $122K, expenses of $194K, and assets of $76K (revenue -19.6% year-over-year).
- 2018: Revenue of $152K, expenses of $4K, and assets of $148K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Building Futures Inc:
Data Sources and Methodology
This transparency report for Building Futures Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.