BrightStone, Inc.
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615-790-4888
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3000 BrightStone Parkway
Franklin, TN 37064
Organization Details

Fiscal Year

Fiscal Year Start

01/01/2024

Fiscal Year End

12/31/2024

Projected Revenue

$2,823,200.00

Projected Expenses

$2,823,200.00

Organizational Budgets and Other Documents

BrightStone, inc. 2024 Budget 2024
BrightStone, Inc. 2023 Budget 2023
BrightStone, Inc. 2022 Budget 2022
BrightStone, Inc. 2021 Budget 2021
BrightStone Inc 2020 Budget 2020
BrightStone Inc 2019 Budget 2019
BrightStone Inc 2018 Budget 2018
BrightStone Inc 2017 Budget 2017
Brightstone, Inc. 2016 Budget 2016
BrightStone, Inc. 2015 Budget 2015
Brightstone, Inc 2014 budget 2014
BrightStone, Inc. 2013 Budget 2013
BrightStone, Inc. 2012 budget 2012
brightstone, inc. 2011 budget 2011
brightstone, inc. 2010 budget 2010
brightstone, inc. 2009 budget 2009
brightstone, inc. 2008 budget 2008
brightstone, inc. 2007 budget 2007
brightstone, inc. 2006 budget 2006
brightstone, inc. 2005 budget 2005

IRS Letter of Exemption

brightstone, inc. irs ltr

Detailed Financials

Revenue and Expenses
Fiscal Year202320222021
Total Revenue $3,908,640.00$6,326,329.00$7,737,832.00
Total Expenses $2,820,668.00$1,826,047.00$1,404,738.00
Revenue Less Expenses $1,087,972.00$4,500,282.00$6,333,094.00

Revenue Sources
Fiscal Year202320222021
Foundation and Corporation Contributions $0.00$0.00$0.00
Government - Federal $0.00$0.00$0.00
Government - State $0.00$0.00$0.00
Government - Local $0.00$0.00$0.00
Government - Unspecified $0.00$0.00$0.00
Contributions, Gifts, and Grants $2,804,594.00$3,465,921.00$7,058,935.00
Indirect Public Support $0.00$0.00$0.00
Earned Revenue $497,342.00$2,244,873.00$252,671.00
Investment Income, Net of Losses $8,647.00$11,995.00$8,740.00
Membership Dues $0.00$0.00$0.00
Special Events $464,268.00$309,346.00$358,736.00
Revenue In-Kind $29,356.00$134,777.00$0.00
Other $104,433.00$159,417.00$58,750.00

Expense Allocation
Fiscal Year202320222021
Program Expense $1,928,539.00$1,235,186.00$993,369.00
Administration Expense $276,585.00$169,328.00$139,181.00
Fundraising Expense $615,544.00$421,533.00$272,188.00
Total Revenue/Total Expenses 139%346%551%
Program Expense/Total Expenses 68%68%71%
Fundraising Expense/Contributed Revenue 22%23%19%

Top Funding Sources
Fiscal Year202320222021
Top Funding Source & Dollar Amount Contributions, Gifts, and Grants
$2,804,594.00
Contributions, Gifts, and Grants
$3,465,921.00
Contributions, Gifts, Grants
$7,058,935.00
Second Highest Funding Source & Dollar Amount Program Revenue
$497,342.00
Program Revenue
$2,244,873.00
Fundraising Events
$358,736.00
Third Highest Funding Source & Dollar Amount Fundraising Events
$464,268.00
Fundraising Events
$309,346.00
Program Revenue
$252,671.00

Assets and Liabilities
Fiscal Year202320222021
Total Assets $27,075,358.00$17,022,815.00$10,285,709.00
Current Assets $1,799,735.00$1,614,114.00$3,452,061.00
Long-Term Liabilities $6,312,539.00$760,278.00$200,650.00
Current Liabilities $0.00$0.00$155,616.00
Total Net Assets $20,762,819.00$16,262,537.00$9,929,443.00

Endowment Info

Do you have an endowment?

No

Capital Campaign Info

Are you currently in a Capital Campaign?

No

Do you anticipate a campaign in the next 5 years?

Yes

Solicitation Permit Info

State Charitable Solicitations Permit

Under Extension

Solicitations Permit

Charitable Solicitations Permit

Form 990s

Approved IRS Form 8868 Extension 2023
BrightStone, Inc 2022 990 2022
Brightstone, Inc. 2021 990 2021
Brightstone, Inc. 2020 990 2020
Brightstone, Inc 2019 990 2019
Brightstone, Inc 2018 990 2018
Brightstone, Inc 2017 990 2017
BrightStone, Inc. 2016 990 2016
BrightStone, Inc. 2015 990 2015
BrightStone, Inc. 2014 990 2014
BrightStone, Inc. 2013 990 2013
BrightStone, Inc. 2012 990 2012
brightstone, inc. 2011 990 2011
brightstone, inc. 2010 990 2010
brightstone, inc. 2009 990 2009
brightstone, inc. 2008 990 2008
brightstone, inc. 2007 990 2007
brightstone, inc. 2006 990 2006
brightstone, inc. 2005 990 2005
brightstone, inc. 2004 990 2004
brightstone, inc. 2003 990 2003

Audit Documents

Brightstone, Inc. 2023 Audit 2023
Brightstone, Inc. 2022 Audit 2022
Brightstone, Inc 2021 Audit 2021
Brightstone, Inc 2020 Audit 2020
Brightstone, Inc. 2019 Audit 2019
Brightstone, Inc 2018 Audit 2018
Brightstone, Inc 2017 Audit 2017
BrightStone, Inc 2016 Audit 2016
BrightStone, Inc. 2015 Audit 2015
BrightStone, Inc. 2014 audit 2014
BrightStone, Inc. 2013 audit 2013
BrightStone, Inc. 2012 audit 2012
brightstone, inc. 2011 audit 2011
brightstone, inc. 2010 audit 2010
brightstone, inc. 2009 audit 2009
brightstone, inc. 2008 audit 2008
brightstone, inc. 2007 audit 2007
brightstone, inc. 2006 audit 2006
brightstone, inc. 2005 audit 2005
brightstone, inc. 2004 audit 2004

CEO/Executive Director/Board Comments


As BrightStone is poised to move onto our new campus by year end, we understand the huge challenge we face to provide enhanced programming and new residential services for an increased number of individuals - all on 140 acres with new enlarged facilities which must be
maintained. While expanding our opportunities to provide for individuals with intellectual and developmental challenges, this endeavor will also bring a financial challenge new to BrightStone and our Board of Directors. The following steps are in place to address this need:
1. Establish an ongoing stable Operating Income for the past 3 years. We currently have an 8-month
operating cash reserve.
2. Implement six Future Planning Teams two of which have guided our financial strategy to:
a. Raise capital for our Land of Dreams Campus campaign, thus reducing or eliminating any
construction loan debt.
b. Provide sustaining funds once we move onto the new campus.
3. Complete a 5-year Pro Forma with a strong focus on our net Gain/Loss the first year on the campus,
Y2023.
4. Determine the strategy to meet the financial requirements of Y1 on the campus.
5. Sell our current facility to attain approximately $2.7M

BrightStone is audited yearly by a reputable Nashville CPA group. The audit demonstrates that BrightStone is in a strong financial position as we move onto the campus. With a strong Board of Directors guiding the direction of BrightStone by a) overseeing the finances on a monthly and quarterly basis, b) our Treasurer guiding the Pro Forma process, and c) our Future Planning Teams focused on upcoming needs, BrightStone is in an excellent position to move toward the future with confidence. BrightStone's funding sources will continue to be the following:
1. Student-paid tuition for the Day Program, Residential Program, and Transportation
2. Fund raising activities and events and contributions from the community
3. Funding from various grants and foundations

Foundation Staff Comments


Financial figures taken from the Audit. Audit was prepared by Blankenship CPA Group, PLLC. Comments provided by Hayley Sulfridge 5/22/24.