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Nonprofiteer
← MANAGEMENT LEADERSHIP FOR TOMORROW

Form 990 for tax year 2022

Filed by MANAGEMENT LEADERSHIP FOR TOMORROW.

Totals

Total revenue
$29,625,031
Total expenses
$34,829,624
Contributions and grants received
$16,667,468
Grants paid
$0
Program service revenue
$12,657,002
Investment income
$296,066
Other revenue
$4,495
Total assets, end of year
$46,267,111
Total liabilities, end of year
$2,835,410
Net assets or fund balances, end of year
$43,431,701
Program services expenses (Part IX)
$29,161,244
Management and general expenses
$4,270,043
Fundraising expenses
$1,398,337
Program service expenses (Part III)
$29,161,244

Program services were 83.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $16,667,468

  • 2a · Program service revenue: CAREER COACHING

    total $4,174,265 · related or exempt $4,174,265

  • 2b · Program service revenue: ADVISORY FEES

    total $3,906,450 · related or exempt $3,906,450

  • 2c · Program service revenue: CERTIFICATION FEES

    total $2,449,375 · related or exempt $2,449,375

  • 2d · Program service revenue: TALENT NETWORK FEES

    total $1,067,502 · related or exempt $1,067,502

  • 2e · Program service revenue: PARTICIPANT FEES

    total $1,059,410 · related or exempt $1,059,410

  • 3 · Investment income

    total $295,622 · excluded $295,622

  • 7a · Gross sales of assets other than inventory

    other assets $444

  • 7b · Less cost or other basis and sales expenses

    other assets $0

  • 7c · Gain or loss

    other assets $444

  • 7d · Net gain or loss

    total $444 · excluded $444

  • 11a · Other revenue: OTHER REVENUE

    total $4,495 · excluded $4,495

  • 11e · Other revenue, total

    $4,495

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $602,860 · program services $331,751 · management and general $60,286 · fundraising $210,823

  • 7 · Other salaries and wages

    total $17,512,798 · program services $14,343,425 · management and general $2,352,477 · fundraising $816,896

  • 9 · Other employee benefits

    total $1,095,440 · program services $890,125 · management and general $147,050 · fundraising $58,265

  • 10 · Payroll taxes

    total $1,371,069 · program services $1,114,708 · management and general $180,829 · fundraising $75,532

  • 11b · Fees: legal

    total $94,848 · program services $85,905 · management and general $8,240 · fundraising $703

  • 11c · Fees: accounting

    total $47,519 · management and general $47,519

  • 11g · Fees: other

    total $8,009,715 · program services $6,749,690 · management and general $1,048,567 · fundraising $211,458

  • 12 · Advertising and promotion

    total $273,550 · program services $233,636 · management and general $39,914

  • 13 · Office expenses

    total $13,039 · program services $11,809 · management and general $1,133 · fundraising $97

  • 14 · Information technology

    total $1,210,995 · program services $1,020,824 · management and general $188,751 · fundraising $1,420

  • 16 · Occupancy

    total $95,191 · program services $86,216 · management and general $8,270 · fundraising $705

  • 17 · Travel

    total $707,057 · program services $631,792 · management and general $66,928 · fundraising $8,337

  • 19 · Conferences, conventions and meetings

    total $2,896,601 · program services $2,842,408 · management and general $46,440 · fundraising $7,753

  • 22 · Depreciation, depletion and amortization

    total $495,305 · program services $448,605 · management and general $43,032 · fundraising $3,668

  • 23 · Insurance

    total $10,730 · program services $9,719 · management and general $932 · fundraising $79

  • 24a · Other expenses: SUBS. AND PUBS.

    total $158,597 · program services $143,644 · management and general $13,779 · fundraising $1,174

  • 24b · Other expenses: BAD DEBT

    total $130,500 · program services $118,196 · management and general $11,338 · fundraising $966

  • 24c · Other expenses: INTERNS

    total $66,202 · program services $64,701 · management and general $1,422 · fundraising $79

  • 24d · Other expenses: MISC. EVENT EXPENSES

    total $31,817 · program services $28,430 · management and general $3,012 · fundraising $375

  • 24e · All other expenses

    total $5,791 · program services $5,660 · management and general $124 · fundraising $7

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $36,461,070 · end of year $2,557,890

  • 2 · Savings and temporary cash investments

    beginning of year $3,719,369 · end of year $27,454,332

  • 3 · Pledges and grants receivable

    beginning of year $9,200,432 · end of year $8,880,673

  • 4 · Accounts receivable

    end of year $100,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $256,667 · end of year $485,861

  • 10a · Land, buildings and equipment: cost or other basis

    $3,382,564

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,053,377

  • 10c · Land, buildings and equipment, net

    beginning of year $862,976 · end of year $2,329,187

  • 12 · Investments: other securities

    beginning of year $2,887,161 · end of year $4,455,142

  • 15 · Other assets

    beginning of year $29,285 · end of year $4,026

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,984,905 · end of year $2,393,035

  • 19 · Deferred revenue

    beginning of year $2,374,177 · end of year $442,375

  • 25 · Other liabilities

    beginning of year $142,069 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $33,202,980 · end of year $35,365,201

  • 28 · Net assets with donor restrictions

    beginning of year $15,712,829 · end of year $8,066,500

Mission and programs · 2022

Mission

MLT EXISTS TO ADVANCE RACIAL EQUITY BY ELEVATING THE CAREER AND ECONOMIC TRAJECTORY OF PEOPLE OF COLOR AND CHANGING EMPLOYER PRACTICES TO IMPROVE OUTCOMES FOR ALL

Activities or mission (Part I)

SEE PART III, LINE 1.

  • ECONOMIC MOBILITY FOR STUDENTS OF COLOR: MLT'S UNDERGRADUATE PROGRAMS ARE DESIGNED TO FIX THE BROKEN COLLEGE-TO-CAREER TRANSITION SO THAT STUDENTS ACHIEVE THE LASTING ECONOMIC MOBILITY EXPECTED OF A COLLEGE DEGREE.MLT'S CAREER PREP PROGRAM PROVIDES UNDERGRADUATES WITH THE COACHING, CAREER PLAYBOOK, AND ACCELERATING PROFESSIONAL CONNECTIONS THEY NEED TO LAND AND SUCCEED IN CAREER PATH JOBS AFTER COLLEGE. THE PROGRAM INCLUDES INTENSIVE ONE-ON-ONE PROFESSIONAL COACHING, LEADERSHIP AND ANALYTICAL SKILL DEVELOPMENT SEMINARS LED BY PARTNER CORPORATIONS, AND ACCESS TO RECRUITERS AT SOUGHT-AFTER FIRMS. MLT ASCEND IS A COLLEGE PERSISTENCE AND CAREER READINESS PROGRAM FOR LOW-INCOME, FIRST GENERATION STUDENTS OF COLOR THAT HELPS PARTICIPANTS REMAIN ON TRACK TO GRADUATE FROM COLLEGE AND START A FULFILLING CAREER.TURNPRO IS A PILOT PROGRAM WITH THREE UNIVERSITIES AND COLLEGES TO DRAMATICALLY INCREASE THE NUMBER OF UNDERGRADUATES RECEIVING MLT'S INTERVENTIONS. THE PILOT IS DESIGNED TO TEST UNIVERSITIES AS A CHANNEL PARTNER AND DEMONSTRATE THAT MLT'S INTERVENTIONS CAN DRIVE SIGNIFICANTLY BETTER FIRST JOB OUTCOMES THAN COMPARABLE STUDENTS WHO DO NOT BENEFIT FROM MLT'S INTERVENTIONS.

    Expenses $12,795,275 · Revenue $2,047,536

  • MAXIMIZING CAREER TRAJECTORIES: MLT HAS A COMPREHENSIVE APPROACH TO ADVANCING THE CAREERS OF DIVERSE TALENT ACROSS THE CAREER CONTINUUM, FROM EARLY CAREER TO SENIOR EXECUTIVE, INCLUDING IN SUPPORT OF MLT'S MORE THAN 10,000 ALUMNI.MLT'S MBA PROGRAMS (1) PREPARE EARLY CAREER PROFESSIONALS TO NAVIGATE THE COMPLEX JOURNEY TO GAIN ADMISSION TO AND SUCCESSFULLY COMPLETE BUSINESS SCHOOL ("MBA PREP") AND (2) PROVIDE FELLOWS WITH THE COACHING, PROFESSIONAL ROADMAP, AND ACCELERATING CONNECTIONS CRITICAL TO LANDING AND SUCCEEDING IN COMPETITIVE CAREER OPPORTUNITIES AFTER GRADUATION ("MBA PROFESSIONAL DEVELOPMENT"). MLT'S CAREER ADVANCEMENT PROGRAM (CAP) IS A 12-MONTH COHORT-BASED PROGRAM DESIGNED TO EMPOWER MID-CAREER PROFESSIONALS ON THE PATH TO SENIOR MANAGEMENT. THE SENIOR EXECUTIVE LEADERSHIP FELLOWSHIP SUPPORTS PROFESSIONALS ON THE PATH TO THE C-SUITE. MLT ALSO OFFERS ONGOING PROFESSIONAL DEVELOPMENT SUPPORT FOR MLT ALUMNI AND SUPPORT FOR CORPORATE PARTNERS SEEKING TO IDENTIFY AND RECRUIT MLT TALENT FOR OPEN SENIOR POSITIONS.

    Expenses $9,443,353 · Revenue $6,337,182

  • EQUITABLE EMPLOYER PRACTICES: MLT PROVIDES RACIAL EQUITY SOLUTIONS TO LEADING EMPLOYERS - DELIVERING INSIGHTS, KNOW-HOW AND TALENT - THAT WILL DRIVE TANGIBLE RACIAL EQUITY OUTCOMES. MLT'S ADVISORY OFFERING HELPS EMPLOYERS DEVELOP AND IMPLEMENT MORE EFFECTIVE DIVERSITY STRATEGIES SO THAT THEIR WORKPLACES WORK FOR PEOPLE OF COLOR THE WAY THEY DO FOR EVERYONE ELSE. MLT HELPS ITS EMPLOYER PARTNERS: 1) UNDERSTAND THE KEY ISSUES HOLDING THEM BACK, 2) DEVELOP A RIGOROUS STRATEGY, 3) EXECUTE THEIR PLANS TO MAXIMIZE EFFECTIVENESS, AND 4) ORIENT, ENGAGE, AND ACTIVATE LEADERS AT ALL LEVELS IN TAKING RESPONSIBILITY FOR THE STRATEGY.MLT'S RACIAL EQUITY AT WORK CERTIFICATION IS A FIRST OF ITS KIND ABSOLUTE STANDARD THAT PROVIDES THE ROADMAP AND THE RECOGNITION NECESSARY TO ENABLE AND ENCOURAGE EMPLOYERS ACROSS AMERICA TO PURSUE RACIAL EQUITY WITH THE SAME RIGOR AND RESULTS ORIENTATION AS THEIR PURSUIT OF EARNINGS AND OTHER KEY PRIORITIES. THE CERTIFICATION: ESTABLISHES AN ACHIEVABLE STANDARD FOR WHAT "GOOD" LOOKS LIKE AND HELPS EMPLOYERS BENCHMARK, OFFERS CRITICAL "HOW TO" SUPPORT THAT MEETS EMPLOYERS WHERE THEY ARE, GIVES SENIOR EXECUTIVES CONFIDENCE THEIR ORGANIZATION CAN MAKE MEASURABLE PROGRESS, STRIKES THE BALANCE BETWEEN RIGOR AND ACCOUNTABILITY, AND ENABLES EMPLOYERS TO RECEIVE RECOGNITION FOR COMMITTING TO ACTION, WITH ACCOUNTABILITY.

    Expenses $6,922,616 · Revenue $4,272,284

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • E John Rice Jr

    FOUNDER/CEO

    Total calculated
    $335,318
    From this org
    $303,972
    From related orgs
    $0
    Other
    $31,346
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $253,972
    Bonus
    $50,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $31,346
    Filer's total
    $335,318

  • Marc Jones

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • David Carlock

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Mac Lafollette

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Barry L Williams

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Christy Haubegger

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • David Dewilde

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Matt Halprin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Valentino Carlotti

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Ken Coleman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Tyler Dickson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • John Legend

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Michael Ryan

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Andrew Florance

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Cristal Baron

    VP, FINANCE & DEVELOPMENT

    Total calculated
    $267,542
    From this org
    $266,200
    From related orgs
    $0
    Other
    $1,342
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $246,200
    Bonus
    $20,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $1,342
    Filer's total
    $267,542

  • Kristina Gilbert

    MANAGING DIR., ADVISORY SERVICES

    Total calculated
    $299,322
    From this org
    $267,976
    From related orgs
    $0
    Other
    $31,346
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $247,976
    Bonus
    $20,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $31,346
    Filer's total
    $299,322

  • Kevin Donahue

    VP, GROWTH STRATEGY

    Total calculated
    $272,542
    From this org
    $271,200
    From related orgs
    $0
    Other
    $1,342
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $251,200
    Bonus
    $20,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $1,342
    Filer's total
    $272,542

  • Damian Saccocio

    VP, TECHNOLOGY

    Total calculated
    $244,329
    From this org
    $242,987
    From related orgs
    $0
    Other
    $1,342
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $222,987
    Bonus
    $20,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $1,342
    Filer's total
    $244,329

  • Shartoyea Scott Dixon

    VP, CAMPUS PROGRAMS/PARTNERSHIPS

    Total calculated
    $242,292
    From this org
    $240,950
    From related orgs
    $0
    Other
    $1,342
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $205,950
    Bonus
    $35,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $1,342
    Filer's total
    $242,292

  • Mark Taguchi

    VP, GENERAL MANAGER WEST COAST

    Total calculated
    $259,655
    From this org
    $238,738
    From related orgs
    $0
    Other
    $20,917
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $218,738
    Bonus
    $20,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $20,917
    Filer's total
    $259,655

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
THE FOLLOWING EMPLOYEES RECEIVED BONUS PAYMENTS: - E. JOHN RICE, JR. $50,000 - KRISTINA GILBERT $20,000 - KEVIN DONAHUE $20,000 - CRISTAL BARON $20,000 - MARK TAGUCHI $20,000 - DAMIAN SACCOCIO $20,000 - SHARTOYEA SCOTT DIXON $35,000

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
9 November 2023
IRS schema version
2022v5.0
Source object
202313139349300706

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