Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1a · Federated campaigns

  $67,730

• 1b · Membership dues

  $67,500

• 1f · All other contributions, gifts and grants

  $84,441,924

• 1g · Noncash contributions included above

  $46,147

• 2a · Program service revenue: Contract income

  total $983,200 · related or exempt $983,200

• 2b · Program service revenue: Registration fees

  total $265,150 · related or exempt $265,150

• 3 · Investment income

  total $1,534,967 · excluded $1,534,967

• 7a · Gross sales of assets other than inventory

  securities $9,532,672

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

  securities $8,738,421

• 7c · Gain or loss

  securities $794,251

• 7d · Net gain or loss

  total $794,251 · excluded $794,251

• 11a · Other revenue: Refunds/ reimbursements

  total $101,189 · excluded $101,189

• 11e · Other revenue, total

  $101,189

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $2,659,072 · program services $2,659,072

• 2 · Grants to domestic individuals

  total $22,571,932 · program services $22,571,932

• 5 · Compensation of officers, directors and key employees

  total $2,492,757 · program services $1,255,935 · management and general $969,025 · fundraising $267,797

• 7 · Other salaries and wages

  total $9,627,447 · program services $4,850,631 · management and general $3,742,541 · fundraising $1,034,275

• 8 · Pension plan contributions

  total $357,094 · program services $179,916 · management and general $138,816 · fundraising $38,362

• 9 · Other employee benefits

  total $1,499,508 · program services $755,502 · management and general $582,914 · fundraising $161,092

• 10 · Payroll taxes

  total $798,176 · program services $402,148 · management and general $310,280 · fundraising $85,748

• 11c · Fees: accounting

  total $60,661 · management and general $60,661

• 11f · Fees: investment management

  total $135,884 · management and general $135,884

• 11g · Fees: other

  total $4,777,356 · program services $4,050,981 · management and general $183,781 · fundraising $542,594

• 12 · Advertising and promotion

  total $795,450 · program services $606,545 · management and general $160,858 · fundraising $28,047

• 13 · Office expenses

  total $1,131,384 · program services $841,491 · management and general $250,473 · fundraising $39,420

• 14 · Information technology

  total $1,855,796 · program services $1,072,856 · management and general $703,979 · fundraising $78,961

• 16 · Occupancy

  total $499,837 · program services $121,307 · management and general $378,530

• 17 · Travel

  total $10,556,552 · program services $9,531,165 · management and general $864,734 · fundraising $160,653

• 19 · Conferences, conventions and meetings

  total $5,662,025 · program services $5,225,969 · management and general $296,009 · fundraising $140,047

• 23 · Insurance

  total $116,108 · program services $28,237 · management and general $87,871

• 24a · Other expenses: Dues and subscriptions

  total $110,795 · program services $19,987 · management and general $73,480 · fundraising $17,328

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $45,686,389 · end of year $64,297,700

• 2 · Savings and temporary cash investments

  beginning of year $3,461,432 · end of year $3,946,989

• 3 · Pledges and grants receivable

  beginning of year $24,681,372 · end of year $20,674,796

• 4 · Accounts receivable

  beginning of year $39,502 · end of year $887,260

• 9 · Prepaid expenses and deferred charges

  beginning of year $44,061 · end of year $0

• 11 · Investments: publicly traded securities

  beginning of year $47,477,644 · end of year $50,925,242

• 12 · Investments: other securities

  beginning of year $226,006 · end of year $226,034

• 15 · Other assets

  beginning of year $2,671,328 · end of year $2,381,369

• 17 · Accounts payable and accrued expenses

  beginning of year $2,703,410 · end of year $1,729,930

• 25 · Other liabilities

  beginning of year $2,933,979 · end of year $2,610,729

• 27 · Net assets without donor restrictions

  beginning of year $39,126,297 · end of year $50,122,232

• 28 · Net assets with donor restrictions

  beginning of year $79,524,048 · end of year $88,876,499

The filer's explanations (Part III)

Part I, Line 1a

The Organization has an agreement with a residential building to lease an apartment for use by the President and CEO.

Part I, Line 4b

During the year ended December 31, 2022, the Organization established a non-qualified deferred compensation plan ("the Plan") on behalf of certain key executives. Organized under Internal Revenue Code (IRC) Section 457(f), the Plan is funded through annual contributions by the Organization, and will be paid to the executives upon retirement.

Part I, Line 7

Bonuses received by all officers are discretionary and determined based upon performance.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• TM2 Search LLC

  Education search/ leadership development services · DE · income $983,200 · assets $1,071,601

  Directly controlled by Thurgood Marshall College Fund

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• Opportunity Funding Corporation Inc

  C · Business plan funding/ dormant · DC · 100% owned · share of income $28 · share of assets $226,034 · controlled entity

  Directly controlled by Thurgood Marshall College Fund Inc