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Nonprofiteer
← THE MIND TRUST INC

Form 990 for tax year 2022

Filed by THE MIND TRUST INC.

Totals

Total revenue
$29,881,369
Total expenses
$21,711,220
Contributions and grants received
$25,817,862
Grants paid
$8,641,363
Program service revenue
$3,172,176
Investment income
$891,331
Other revenue
$0
Total assets, end of year
$26,440,445
Total liabilities, end of year
$1,244,620
Net assets or fund balances, end of year
$25,195,825
Program services expenses (Part IX)
$19,981,206
Management and general expenses
$1,096,948
Fundraising expenses
$633,066
Program service expenses (Part III)
$19,981,206

Program services were 92.0% 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

    $25,817,862

  • 2a · Program service revenue: PARTNERSHIP/SUPPORT SERVICES

    total $3,172,176 · related or exempt $3,172,176

  • 3 · Investment income

    total $678,358 · excluded $678,358

  • 7a · Gross sales of assets other than inventory

    securities $368,161

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

    securities $155,188

  • 7c · Gain or loss

    securities $212,973

  • 7d · Net gain or loss

    total $212,973 · excluded $212,973

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,608,863 · program services $8,608,863

  • 2 · Grants to domestic individuals

    total $32,500 · program services $32,500

  • 7 · Other salaries and wages

    total $3,393,259 · program services $2,658,210 · management and general $427,637 · fundraising $307,412

  • 8 · Pension plan contributions

    total $148,405 · program services $119,543 · management and general $17,478 · fundraising $11,384

  • 9 · Other employee benefits

    total $874,175 · program services $639,175 · management and general $127,083 · fundraising $107,917

  • 10 · Payroll taxes

    total $252,391 · program services $200,220 · management and general $29,964 · fundraising $22,207

  • 11b · Fees: legal

    total $99,402 · program services $96,155 · management and general $3,247

  • 11c · Fees: accounting

    total $49,425 · program services $4,306 · management and general $45,119

  • 11f · Fees: investment management

    total $46,028 · program services $45,132 · management and general -$748 · fundraising $1,644

  • 11g · Fees: other

    total $6,137,491 · program services $5,942,475 · management and general $170,286 · fundraising $24,730

  • 12 · Advertising and promotion

    total $721,842 · program services $720,994 · management and general $612 · fundraising $236

  • 13 · Office expenses

    total $339,647 · program services $165,207 · management and general $168,407 · fundraising $6,033

  • 16 · Occupancy

    total $122,717 · program services $97,157 · management and general $16,592 · fundraising $8,968

  • 17 · Travel

    total $177,380 · program services $155,878 · management and general $20,134 · fundraising $1,368

  • 19 · Conferences, conventions and meetings

    total $351,074 · program services $213,967 · fundraising $137,107

  • 22 · Depreciation, depletion and amortization

    total $42,920 · program services $42,920

  • 23 · Insurance

    total $50,462 · program services $30,624 · management and general $17,594 · fundraising $2,244

  • 24a · Other expenses: POSTAGE/PRINTING

    total $200,460 · program services $198,262 · management and general $588 · fundraising $1,610

  • 24b · Other expenses: MISC

    total $39,088 · program services $9,618 · management and general $29,264 · fundraising $206

  • 24c · Other expenses: TELEPHONE/INTERNET

    total $23,691 · management and general $23,691

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $15,734,735 · end of year $10,386,252

  • 2 · Savings and temporary cash investments

    beginning of year $1,725,506

  • 3 · Pledges and grants receivable

    beginning of year $9,713 · end of year $1,739,370

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,431,863 · end of year $1,736,405

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

    $259,621

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

    $220,542

  • 10c · Land, buildings and equipment, net

    beginning of year $81,999 · end of year $39,079

  • 11 · Investments: publicly traded securities

    end of year $12,280,331

  • 15 · Other assets

    end of year $259,008

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,958,140 · end of year $985,612

  • 25 · Other liabilities

    end of year $259,008

  • 27 · Net assets without donor restrictions

    beginning of year $6,868,589 · end of year $7,830,147

  • 28 · Net assets with donor restrictions

    beginning of year $10,157,087 · end of year $17,365,678

Mission and programs · 2022

Mission

THE MIND TRUST'S MISSION IS TO PROVIDE EVERY INDIANAPOLIS STUDENT ACCESS TO AN EXCELLENT EDUCATION BY AMPLIFYING THE POWER OF NEIGHBORHOODS AND COMMUNITIES TO LEAD EDUCATION CHANGE, SUPPORTING SCHOOLS TO GROW AND EXCEL IN A THRIVING EDUCATION ECOSYSTEM, AND PROMOTING RACIAL EQUITY IN EDUCATION. THE MIND TRUST STRIVES TO ENSURE INDIANAPOLIS IS A CITY WHERE EVERY CHILD HAS ACCESS TO AN EXCELLENT EDUCATION, IN PURSUIT OF A DAY WHEN RACE AND INCOME ARE NO LONGER PREDICTORS OF LIFE OUTCOMES BY TRIPLING THE NUMBER OF STUDENTS WITHIN INDIANAPOLIS PUBLIC SCHOOLS GEOGRAPHY WHO ARE ACADEMICALLY PROFICIENT BY 2027. USING 2021 AS A BASELINE, THE MIND TRUST'S OVERARCHING GOAL IS TO ENSURE THAT AT LEAST THREE TIMES AS MANY STUDENTS ARE ACADEMICALLY PROFICIENT BY 2027. ADVANCING EDUCATIONAL EQUITY HAS RACIAL EQUITY AT THE FOREFRONT OF EACH ASPECT OF OUR WORK TO ENSURE THE MIND TRUST IS FOCUSED ON EQUITABLY SERVING ALL INDIANAPOLIS CHILDREN, FAMILIES, AND COMMUNITIES. THE PLAN FOCUSES ON FOUR KEY PRIO

Activities or mission (Part I)

THE MIND TRUST WAS FOUNDED IN 2006 WITH THE GOAL OF TRANSFORMING INDIANAPOLIS' K-12 EDUCATION LANDSCAPE TO ENSURE THAT ALL INDIANAPOLIS STUDENTS HAVE THE OPPORTUNITY TO RECEIVE A HIGH-QUALITY EDUCATION. OVER THE LAST 17 YEARS, THE MIND TRUST HAS SUPPORTED THE LAUNCH OF 49 PUBLIC SCHOOLS AND 15 EDUCATION NONPROFIT ORGANIZATIONS IN INDIANAPOLIS. THE MIND TRUST INVESTS IN PUBLIC EDUCATION TO TRANSFORM LIVES IN NEIGHBORHOODS ACROSS INDIANAPOLIS. THE MIND TRUST WORKS TOWARD A DAY WHEN RACE AND INCOME ARE NO LONGER PREDICTORS OF LIFE OUTCOMES. THE MIND TRUST EXECUTES ON THIS GOAL BY CONTINUOUSLY PURSUING RACIAL EQUITY; ENSURING STUDENTS HAVE ACCESS TO HIGH-QUALITY SCHOOLS AND EDUCATORS; EMPOWERING FAMILIES AND COMMUNITIES; AND SUSTAINING A STRONG EDUCATION LANDSCAPE IN INDIANAPOLIS THEREBY SUPPORTING, BENEFITTING, AND PERFORMING THE EDUCATIONAL AND CHARITABLE PURPOSES OF THE UNIVERSITY OF INDIANAPOLIS AND TNTP, INC.

  • THE MIND TRUST ACHIEVES ITS GOALS BY EXECUTING ON WORK IN FOUR AREAS: GREAT SCHOOLS: THE MIND TRUST LAUNCHES NEW HIGH-QUALITY, AUTONOMOUS SCHOOLS WITH THE CONDITIONS FOR SUCCESS AND SUPPORT EXISTING SCHOOLS TO REACH AND SUSTAIN SUCCESS. THE MIND TRUST SUPPORTS, RETAINS, AND ATTRACTS TALENTED EDUCATORS WHO SHARE THE RACIAL AND/OR SOCIOECONMIC BACKGROUND OF INDIANAPOLIS' STUDENTS. ENGAGING COMMUNITY: THE MIND TRUST WORKS TO AMPLIFY THE VOICES OF NEIGHBORHOODS AND COMMUNITIES TO LEAD AND ADOVACATE FOR EDUCATION CHANGE. THE MIND TRUST ESTABLISHES PARTNERSHIPS TO ADDRESS BARRIERS THAT MAKE IT HARDER FOR CHILDREN TO LEARN AND INCREASE THEIR ECONMIC MOBILITY. RACIAL EQUITY: THE MIND TRUST PURSUES RACIAL EQUITY WITHIN EDUCATION THROUGH ITS POLICIES AND PROGRAMS. THE MIND TRUST SEEKS TO ELEVATE LEADERS WHO SHARE INDIANAPOLIS STUDENTS' RACIAL AND SOCIOECONOMIC BACKGROUDS, AND THE MIND TRUST AMPLIFIES MARGINALIZED VOICES. THRIVING ECOSYSTEM: THE MIND TRUST WORKS TO MAINTAIN AND STRENGTHEN THE CONDITIONS FOR STUDENT SUCCESS THROUGH POLICY AND ADVOCACY, EFFECTIVE SYSTEM-LEVEL SOLUTIONS, AND COLLABORATION WITHIN THE EDUCATION. THE MIND TRUST IS A FUNDING INTERMEDIARY AND LOCAL CHAMPION FOR ENTREPRENEURIAL EDUCATION VENTURES IN INDIANAPOLIS.

    Expenses $19,981,206 · Grants $8,641,363 · Revenue $25,817,862

  • THE MIND TRUST SUPPORTS INDIANAPOLIS PARTNERS TO IMPROVE THE CITY'S EDUCATION ECOSYSTEM AND NATIONAL PARTNERS IN THE DEVELOPMENT OF OTHER CITY PROOF POINTS FOR EDUCATION TRANSFORMATION. THE MIND TRUST ENGAGED IN SEVERAL PROJECTS IN THE 2022-23 FISCAL YEAR TO SUPPORT OUR INDIANAPOLIS PARTNERS IN IMPROVING THE EDUCATION ECOSYSTEM AND STUDENT OUTCOMES IN INDIANAPOLIS AND OUR NATIONAL PARTNER IN THE DEVELOPMENT OF PROOF POINTS IN OTHER GEOGRAPHIES.

    Revenue $3,172,176

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

Listed in Part VII

  • Jim Schumacher

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Ann Murtlow

    BOARD TREASU

    Total calculated
    $0
    Hours/week
    0.5

  • Miriam Acevedo Davis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • David Harris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Tequilla Brownie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Steven Jones

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Maggie A Lewis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Leigh Ann Pusey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • David Shane

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Bill Shrewsberry

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Gary Borden

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Kristin Grimme

    SVP STRATEGY

    Total calculated
    $196,239
    From this org
    $153,689
    From related orgs
    $0
    Other
    $42,550
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,689
    Bonus
    not reported
    Other
    not reported
    Deferred
    $8,165
    Nontaxable benefits
    $34,385
    Filer's total
    $196,239

  • Patrick Jones

    SVP LDRSHP &

    Total calculated
    $210,272
    From this org
    $168,981
    From related orgs
    $0
    Other
    $41,291
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,981
    Bonus
    not reported
    Other
    not reported
    Deferred
    $6,906
    Nontaxable benefits
    $34,385
    Filer's total
    $210,272

  • Leslie Shegog

    EXECUTIVE VP

    Total calculated
    $264,484
    From this org
    $218,655
    From related orgs
    $0
    Other
    $45,829
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $218,655
    Bonus
    not reported
    Other
    not reported
    Deferred
    $11,363
    Nontaxable benefits
    $34,466
    Filer's total
    $264,484

  • Brandon Brown

    CEO

    Total calculated
    $378,853
    From this org
    $329,925
    From related orgs
    $0
    Other
    $48,928
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $329,925
    Bonus
    not reported
    Other
    not reported
    Deferred
    $14,272
    Nontaxable benefits
    $34,656
    Filer's total
    $378,853

  • Corrie Lapp

    SVP OF FINAN

    Total calculated
    $211,161
    From this org
    $167,872
    From related orgs
    $0
    Other
    $43,289
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,872
    Bonus
    not reported
    Other
    not reported
    Deferred
    $8,633
    Nontaxable benefits
    $34,656
    Filer's total
    $211,161

  • Kelli Marshall

    SVP OF SCHOO

    Total calculated
    $177,425
    From this org
    $162,161
    From related orgs
    $0
    Other
    $15,264
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $162,161
    Bonus
    not reported
    Other
    not reported
    Deferred
    $3,840
    Nontaxable benefits
    $11,424
    Filer's total
    $177,425

  • Samuel Odle

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

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 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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

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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
18 March 2024
IRS schema version
2022v5.0
Source object
202400819349301205

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

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