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← MEDGAR EVERS EDUCATIONAL FOUNDATION INC

Form 990 for tax year 2023

Filed by MEDGAR EVERS EDUCATIONAL FOUNDATION INC.

Totals

Total revenue
$675,137
Total expenses
$452,883
Contributions and grants received
$649,687
Grants paid
$295,374
Program service revenue
$0
Investment income
$25,450
Other revenue
$0
Total assets, end of year
$2,937,812
Total liabilities, end of year
$201,971
Net assets or fund balances, end of year
$2,735,841
Program services expenses (Part IX)
$435,771
Management and general expenses
$17,112
Fundraising expenses
$0
Program service expenses (Part III)
$435,771

Program services were 96.2% 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

    $649,687

  • 3 · Investment income

    total $12,996 · excluded $12,996

  • 7a · Gross sales of assets other than inventory

    securities $12,454

  • 7c · Gain or loss

    securities $12,454

  • 7d · Net gain or loss

    total $12,454 · excluded $12,454

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $88,470 · program services $88,470

  • 2 · Grants to domestic individuals

    total $206,904 · program services $206,904

  • 11c · Fees: accounting

    total $17,112 · management and general $17,112

  • 11g · Fees: other

    total $18,310 · program services $18,310

  • 13 · Office expenses

    total $6,734 · program services $6,734

  • 24a · Other expenses: OTHER EXPENSES

    total $66,241 · program services $66,241

  • 24b · Other expenses: FOOD

    total $49,112 · program services $49,112

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,836,018 · end of year $1,954,047

  • 9 · Prepaid expenses and deferred charges

    end of year $1,063

  • 12 · Investments: other securities

    beginning of year $681,819 · end of year $982,702

  • 17 · Accounts payable and accrued expenses

    beginning of year $39,684 · end of year $201,971

  • 27 · Net assets without donor restrictions

    beginning of year $1,513 · end of year $71,920

  • 28 · Net assets with donor restrictions

    beginning of year $2,476,640 · end of year $2,663,921

Mission and programs · 2023

Mission

THE FOUNDATIONS SOLE PURPOSE IS TO PROVIDE SUPPORT TO THE COLLEGE, AND TO PROVIDE MORE EXTENSIVE EDUCATIONAL OPPORTUNITIES AND SERVICES BY MAKING AND ENCOURAGING GIFTS, GRANTS, CONTRIBUTIONS, AND DONATIONS OF REAL AND PERSONAL PROPERTY TO OR FOR THE BENEFIT OF MEDGAR EVERS COLLEGE.

  • SUPPORT THE PROGRESS AND DEVELOPMENT OF MEDGAR EVERS COLLEGE.

    Expenses $262,334 · Grants $121,937

  • GRANTS AND SCHOLARSHIPS ARE MADE TO BENEFIT UNDERGRADUATE STUDENTS AT MEDGAR EVERS COLLEGE TO AID IN THE PURSUIT OF STUDIES.

    Expenses $173,437 · Grants $173,437

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • JACQUELINE CLARK

    SVP

    Total calculated
    $313,702
    From this org
    $0
    From related orgs
    $213,258
    Other
    $100,444
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    not reported + $213,258 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $100,444 related
    Filer's total
    not reported + $313,702 related

  • REBECCA FRALEY - CORRADO

    ASSIST. VPF

    Total calculated
    $213,844
    From this org
    $0
    From related orgs
    $160,444
    Other
    $53,400
    Hours/week
    6

    Schedule J breakdown matched by us

    Base
    not reported + $160,444 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $53,400 related
    Filer's total
    not reported + $213,844 related

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

None.

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

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
2023
Filed
26 November 2024
IRS schema version
2023v5.0
Source object
202433319349301498

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