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← GENERATING INCOME FOR TOMORROW

Form 990 for tax year 2024

Filed by GENERATING INCOME FOR TOMORROW.

Totals

Total revenue
$1,041,895
Total expenses
$1,654,332
Contributions and grants received
$1,085,481
Grants paid
$351,007
Program service revenue
$444
Investment income
$196
Other revenue
-$44,226
Total assets, end of year
$218,162
Total liabilities, end of year
$109,196
Net assets or fund balances, end of year
$108,966
Program services expenses (Part IX)
$1,196,800
Management and general expenses
$223,744
Fundraising expenses
$233,788
Program service expenses (Part III)
$1,196,800

Program services were 72.3% 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.

  • 1a · Federated campaigns

    $20,180

  • 1c · Fundraising events

    $59,075

  • 1f · All other contributions, gifts and grants

    $1,006,226

  • 2a · Program service revenue: BUSINESS CENTER

    total $444 · related or exempt $444

  • 3 · Investment income

    total $196 · excluded $196

  • 8a · Fundraising events: gross income

    $32,500

  • 8a · Fundraising events: contributions included on line 1c

    $59,075

  • 8b · Fundraising events: direct expenses

    $76,726

  • 8c · Net income from fundraising events

    total -$44,226 · excluded -$44,226

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $351,007 · program services $351,007

  • 5 · Compensation of officers, directors and key employees

    total $390,870 · program services $232,010 · management and general $59,192 · fundraising $99,668

  • 7 · Other salaries and wages

    total $405,325 · program services $240,590 · management and general $61,381 · fundraising $103,354

  • 8 · Pension plan contributions

    total $9,373 · program services $5,564 · management and general $1,419 · fundraising $2,390

  • 9 · Other employee benefits

    total $51,188 · program services $30,384 · management and general $7,752 · fundraising $13,052

  • 10 · Payroll taxes

    total $60,096 · program services $35,671 · management and general $9,101 · fundraising $15,324

  • 11b · Fees: legal

    total $10,291 · management and general $10,291

  • 11c · Fees: accounting

    total $1,715 · management and general $1,715

  • 11g · Fees: other

    total $20,093 · program services $16,760 · management and general $3,333

  • 12 · Advertising and promotion

    total $80,541 · program services $64,433 · management and general $16,108

  • 13 · Office expenses

    total $23,264 · program services $11,632 · management and general $11,632

  • 14 · Information technology

    total $18,516 · program services $9,258 · management and general $9,258

  • 16 · Occupancy

    total $162,810 · program services $130,248 · management and general $32,562

  • 17 · Travel

    total $13,434 · program services $13,434

  • 19 · Conferences, conventions and meetings

    total $55,809 · program services $55,809

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $639,336 · end of year $144,524

  • 2 · Savings and temporary cash investments

    beginning of year $138,328 · end of year $73,638

  • 3 · Pledges and grants receivable

    beginning of year $100,000 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,923 · end of year $13,441

  • 18 · Grants payable

    beginning of year $149,338 · end of year $95,755

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $721,403 · end of year $108,966

Mission and programs · 2024

Mission

TO PROVIDE ASSISTANCE TO MINORITY-OWNED BUSINESSES IN KANSAS CITY, MO LOW-INCOME AREAS IN THE FORM OF BUSINESS GRANTS AND BACK OFFICE BUSINESS SUPPORT SERVICES.

Activities or mission (Part I)

TO PROVIDE ASSISTANCE TO MINORITY-OWNED BUSINESSES IN KANSAS CITY, MO LOW-INCOME AREAS.

  • THE CORE MISSION OF GENERATING INCOME FOR TOMORROW (GIFT) IS TO CLOSE OUR LOCAL RACIAL WEALTH GAP, REDUCE POVERTY RELATED CRIME, AND PROVIDE ECONOMIC OPPORTUNITY FOR THE BLACK COMMUNITY. WE DO THIS BY PROVIDING GRANTS AND TECHNICAL SUPPORT TO BLACK-OWNED BUSINESSES THAT OPERATE IN THE HISTORICALLY REDLINED AREAS OF KANSAS CITY. OUR GRANT PROGRAM PROVIDES BUSINESS GRANTS TO FOR-PROFIT, BLACK-OWNED BUSINESSES, LOCATED AND OPERATED EAST OF TROOST AVE. GRANTS RANGE FROM $10,000 TO $50,000. WE ALSO PROVIDE A YEAR'S WORTH OF TECHNICAL ASSISTANCE TO ALL GRANTEES. THIS INCLUDES BUSINESS COACHING, BOOKKEEPING, LEGAL, AND MARKETING SUPPORT. (CONTINUED ON SCHEDULE O)WE ALSO HAVE A 7,500 SQUARE FOOT BUSINESS CENTER THAT PROVIDES ONE-ON-ONE SERVICES SUCH AS BUSINESS COACHING, MARKETING STRATEGY, WEBSITE DEVELOPMENT, QUICKBOOKS SET UP, AND LEGAL CONSULTING TO ANYONE IN THE GREATER KANSAS CITY AREA THAT OWNS, OR WANTS TO START A BUSINESS, THROUGH ONE HIGHLY ACCESSIBLE LOCATION. TO SUPPLEMENT THE ONE-ON-ONE OFFERINGS, WE PROVIDE A PLETHORA OF GROUP CLASSES, AS WELL AS AMENITIES LIKE COWORKING SPACE, HEADSHOTS, STUDIO, AND ONSITE BANKING. THIS IS ALL PROVIDED COMPLETELY FREE OF CHARGE TO ANYONE THAT WANTS TO USE THE SERVICES, NO MATTER WHAT RACE, ETHNICITY, OR ANY OTHER IDENTIFYING FACTOR. IN FY25, THE GIFT GRANT PROGRAM PROVIDED GRANT FUNDING TO 12 DIFFERENT MINORITY OWNED BUSINESSES WHICH RESULTED IN THE CREATION OF 30 DIFFERENT NEW JOBS AND 209% AVERAGE REVENUE GROWTH OF GRANTEES.

    Expenses $1,196,800 · Grants $351,007 · Revenue $444

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

Listed in Part VII

  • Brandon Calloway

    CEO, PRESIDENT

    Total calculated
    $137,278
    From this org
    $122,192
    From related orgs
    $0
    Other
    $15,086
    Hours/week
    40

  • Karis Harrington

    CPO, SECRETARY

    Total calculated
    $124,646
    From this org
    $111,462
    From related orgs
    $0
    Other
    $13,184
    Hours/week
    40

  • Cornell Gorman

    COO, VICE PRESIDENT

    Total calculated
    $125,986
    From this org
    $111,462
    From related orgs
    $0
    Other
    $14,524
    Hours/week
    40

  • D'Juan Love

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    3

  • Ryonda Hall

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Cynthia Benbow

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Deshawn Burton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Rick Leathers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Eze Redwood

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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

  • ENTREPRENEURSHIP KC - REIMAGINE

    $100,000

    SUPPORT FOR GENERAL OPERATIONS

  • THE COMBINE

    $30,000

    SUPPORT FOR GENERAL OPERATIONS

  • DISTRICT FISH & PASTA

    $25,000

    SUPPORT FOR GENERAL OPERATIONS

  • DUMP THAT TRUCK

    $25,000

    SUPPORT FOR GENERAL OPERATIONS

  • KAREN'S KAKES

    $25,000

    SUPPORT FOR GENERAL OPERATIONS

  • URBAN CAFE

    $25,000

    SUPPORT FOR GENERAL OPERATIONS

  • GOOD KARMA COFFEE

    $20,000

    SUPPORT FOR GENERAL OPERATIONS

  • JUNETEENTH KC

    $20,000

    SUPPORT FOR GENERAL OPERATIONS

  • JOHNNY WALLER JR

    $15,000

    SUPPORT FOR GENERAL OPERATIONS

  • HIVE HARVEST

    $10,000

    SUPPORT FOR GENERAL OPERATIONS

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2024
Filed
12 August 2025
IRS schema version
2024v5.2
Source object
202532249349300533

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