Form 990 for tax year 2024

Totals

Total revenue

$422,211

Total expenses

$406,931

Contributions and grants received

$408,783

Grants paid

$52,100

Program service revenue

$13,428

Investment income

$0

Other revenue

$0

Total assets, end of year

$203,002

Total liabilities, end of year

$1,294

Net assets or fund balances, end of year

$201,708

Program services expenses (Part IX)

$193,570

Management and general expenses

$129,596

Fundraising expenses

$83,765

Program service expenses (Part III)

$193,570

Program services were 47.6% 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.

Mission and programs · 2024

• PITCH BLACK IS A DYNAMIC CONFERENCE STRATEGICALLY CRAFTED TO FUEL ENTREPRENEURSHIP ACROSS DIVERSE COMMUNITIES IN THE MIDWEST. OUR EVENT SHOWCASES PROMINENT SPEAKERS, A BUSINESS EXPOSITION, AND AN EXCITING BUSINESS PITCH COMPETITION. THE COMPETITION IS SPECIFICALLY TAILORED TO OFFER A PLATFORM FOR EMERGING BIPOC (BLACK, INDIGENOUS, AND PEOPLE OF COLOR) AS WELL AS IMMIGRANT AND REFUGEE ENTREPRENEURS TO SHOWCASE THEIR INNOVATIVE IDEAS. PARTICIPANTS HAVE THE OPPORTUNITY TO COMPETE FOR A GRAND PRIZE OF UP TO $15,000, COMPLEMENTED BY INVALUABLE IN-KIND SUPPORT SURPASSING $40,000. THIS SUPPORT EXTENDS TO ESSENTIAL SERVICES SUCH AS MARKETING, LEGAL, AND ACCOUNTING, PROVIDING CRUCIAL ASSISTANCE FOR THEIR VENTURES. A GROUNDBREAKING INITIATIVE, PITCH BLACK, IS COMMITTED TO NURTURING ENTREPRENEURSHIP AND FORTIFYING BUSINESSES. BY FACILITATING CONNECTIONS BETWEEN EMERGING ENTREPRENEURS AND POTENTIAL INVESTORS, MENTORS, AND ESSENTIAL RESOURCES, OUR CONFERENCE STRIVES TO INVIGORATE ECONOMIC GROWTH AND CHAMPION DIVERSITY IN THE LOCAL ECONOMY.

  Expenses $89,712 · Grants $24,200 · Revenue $13,428

• THE MAC FOUNDATION'S UMOJA PROGRAM IS AIMED AT INCREASING UNITY, COLLABORATION, AND SYNERGY BETWEEN AFRICAN AMERICAN AND AFRICAN IMMIGRANT COMMUNITIES IN THE MIDWEST. THE PROGRAM RECOGNIZES THE IMPORTANCE OF BUILDING STRONG, DIVERSE COMMUNITIES, AND WE BELIEVE THAT BY BRINGING TOGETHER AFRICAN AMERICAN AND AFRICAN IMMIGRANT COMMUNITIES, WE CAN CREATE A MORE UNIFIED AND POWERFUL VOICE FOR CHANGE. THROUGH A SERIES OF ONLINE FORUMS AND LIVE EVENTS, WE PROVIDE A SAFE AND INCLUSIVE SPACE FOR DIALOGUE AND DISCUSSION BETWEEN THE TWO COMMUNITIES. OUR FORUMS ALLOW COMMUNITY MEMBERS TO SHARE THEIR PERSPECTIVES, EXPERIENCES, AND CONCERNS, WHILE OUR LIVE EVENTS PROVIDE AN OPPORTUNITY FOR COMMUNITY MEMBERS TO MEET AND CONNECT IN PERSON.

  Expenses $32,822

• THE MAC XCELERATOR (MAC-X) IS AN ENTERPRISE ACCELERATOR PROGRAM DESIGNED TO STRENGTHEN, ENERGIZE, AND SUPPORT STARTUPS AND SMALL BUSINESSES LED BY BLPOC ENTREPRENEURS IN NEBRASKA AND THROUGHOUT THE MIDLANDS. MAC-X IDENTIFIES BLACK BUSINESS LEADERS WITH IMPACT-ORIENTED SOLUTIONS, ADDRESSING ESSENTIAL COMMUNITY NEEDS WHILE SPURRING SUSTAINABLE GROWTH. IN ORDER TO CATER TO A WIDE AUDIENCE, THE MAC-X PROGRAM WILL BE HELD BIANNUALLY, WITH ONE SESSION IN THE FALL AND ANOTHER IN THE SPRING. PARTICIPANTS IN THE PROGRAM WILL HAVE THE OPPORTUNITY TO RECEIVE FINANCIAL INCENTIVES AND MAY CHOOSE TO APPLY FOR THE PITCH BLACK COMPETITION. HOWEVER, BEING PART OF THE MAC-X PROGRAM DOES NOT GUARANTEE PARTICIPATION IN THE PITCH BLACK COMPETITION OR FINALE. COMPLETING THE MAC-X PROGRAM WILL ENABLE COHORT MEMBERS TO RECEIVE UP TO $ 1,000 IN SEED FUNDS.

  Expenses $71,036 · Grants $27,900

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

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.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

• MAC FOUNDATION INC

  501(C)(3) · TO CONNECT, EMPOWER, AND ELAVATE UNDERREPRESENTED ENTREPRENEURS. · NE

Provenance

Return type

form_990

Tax year

2024

Filed

20 May 2025

IRS schema version

2024v5.1

Source object

202541409349301209

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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