Form 990 for tax year 2022
Filed by R MERLE PALMER MINORITY SCHOLARSHIP FOUNDATION.
Totals
- Total revenue
- $1,445,016
- Total expenses
- $1,605,662
- Contributions and grants received
- $1,475,136
- Grants paid
- $347,674
- Program service revenue
- $0
- Investment income
- $27,447
- Other revenue
- -$57,567
- Total assets, end of year
- $1,681,594
- Total liabilities, end of year
- $19,983
- Net assets or fund balances, end of year
- $1,661,611
- Program services expenses (Part IX)
- $1,265,788
- Management and general expenses
- $152,241
- Fundraising expenses
- $187,633
- Program service expenses (Part III)
- $1,265,788
Program services were 78.8% 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.
-
1c · Fundraising events
$170,974
-
1e · Government grants (contributions)
$641,520
-
1f · All other contributions, gifts and grants
$662,642
-
3 · Investment income
total $27,447 · excluded $27,447
-
8a · Fundraising events: gross income
$0
-
8a · Fundraising events: contributions included on line 1c
$170,974
-
8b · Fundraising events: direct expenses
$57,567
-
8c · Net income from fundraising events
total -$57,567 · excluded -$57,567
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $347,674 · program services $347,674
-
5 · Compensation of officers, directors and key employees
total $151,500 · program services $117,161 · management and general $11,101 · fundraising $23,238
-
7 · Other salaries and wages
total $592,298 · program services $458,047 · management and general $43,401 · fundraising $90,850
-
8 · Pension plan contributions
total $11,818 · program services $9,165 · management and general $891 · fundraising $1,762
-
9 · Other employee benefits
total $75,257 · program services $58,360 · management and general $5,676 · fundraising $11,221
-
10 · Payroll taxes
total $59,625 · program services $46,110 · management and general $4,369 · fundraising $9,146
-
12 · Advertising and promotion
total $32,469 · management and general $6,100 · fundraising $26,369
-
13 · Office expenses
total $3,509 · management and general $2,282 · fundraising $1,227
-
14 · Information technology
total $34,668 · program services $17,334 · management and general $8,667 · fundraising $8,667
-
16 · Occupancy
total $35,323 · program services $17,661 · management and general $8,831 · fundraising $8,831
-
19 · Conferences, conventions and meetings
total $27,195 · management and general $22,770 · fundraising $4,425
-
22 · Depreciation, depletion and amortization
total $9,171 · program services $6,878 · management and general $1,834 · fundraising $459
-
23 · Insurance
total $5,001 · management and general $5,001
-
24a · Other expenses: SCHOLAR EXPENSES
total $168,037 · program services $168,037
-
24b · Other expenses: MENTOR EXPENSES
total $15,750 · program services $15,750
-
24c · Other expenses: BAD DEBT EXPENSE
total $12,000 · management and general $12,000
-
24d · Other expenses: BANK FEES
total $8,756 · management and general $8,756
-
24e · All other expenses
total $15,611 · program services $3,611 · management and general $10,562 · fundraising $1,438
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $481,885 · end of year $347,698
-
3 · Pledges and grants receivable
beginning of year $252,747 · end of year $197,239
-
9 · Prepaid expenses and deferred charges
beginning of year $35,323 · end of year $20,904
-
10a · Land, buildings and equipment: cost or other basis
$86,664
-
10b · Land, buildings and equipment: accumulated depreciation
$38,869
-
10c · Land, buildings and equipment, net
beginning of year $6,557 · end of year $47,795
-
11 · Investments: publicly traded securities
beginning of year $340,014 · end of year $365,193
-
15 · Other assets
beginning of year $684,774 · end of year $702,765
-
17 · Accounts payable and accrued expenses
beginning of year $24,073 · end of year $19,983
-
27 · Net assets without donor restrictions
beginning of year $971,453 · end of year $873,010
-
28 · Net assets with donor restrictions
beginning of year $805,774 · end of year $788,601
Mission and programs · 2022
Mission
SUPPORTING UNDERREPRESENTED PIERCE COUNTY STUDENTS OF COLOR TO OVERCOME FINANCIAL, CULTURAL, AND SOCIAL BARRIERS IN THEIR PURSUIT OF HIGHER EDUCATION. OUR VISION IS FOR OUR STUDENTS TO SUCCEED IN GRADUATING FROM COLLEGE WITH THE ESSENTIAL TOOLS TO BE CATALYSTS FOR CHANGE, LEADERS IN OUR COMMUNITY, AND BECOME PERSONALLY EMPOWERED.
-
THE ORGANIZATION PROVIDED SCHOLARSHIPS AND MENTORING SERVICES TO 225 STUDENTS DURING THE YEAR ENDED JUNE 30, 2023.
Expenses $1,265,788 · Grants $347,674 · Revenue $1,445,016
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Amalia PerezAMALIA PEREZ
PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Zach ParsonsZACH PARSONS
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Kacee WoodsKACEE WOODS
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Marissa RathboneMARISSA RATHBONE
IMMEDIATE PAST PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Kimberly GreenKIMBERLY GREEN
AT-LARGE
- Total calculated
- $0
- Hours/week
- 1
-
Stephanie Croom-WilliamsSTEPHANIE CROOM-WILLIAMS
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Heather CurlHEATHER CURL
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Alex DavisALEX DAVIS
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Christal HarrisonCHRISTAL HARRISON
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Steve SchainSTEVE SCHAIN
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Kidane YohannesKIDANE YOHANNES
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Jeankie AczonJEANKIE ACZON
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Jonathan JacksonJONATHAN JACKSON
EXECUTIVE DIRECTOR
- Total calculated
- $147,495
- From this org
- $137,083
- From related orgs
- $0
- Other
- $10,412
- Hours/week
- 40
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.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 29 January 2024
- IRS schema version
- 2022v5.0
- Source object
- 202400319349301035
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