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Nonprofiteer
← MAC FOUNDATION

Form 990 for tax year 2025

Filed by MAC FOUNDATION.

Totals

Total revenue
$139,212
Total expenses
$105,770
Contributions and grants received
$60,276
Grants paid
$20,000
Program service revenue
$12,450
Investment income
$0
Other revenue
$66,486
Total assets, end of year
$98,735
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$98,735
Program services expenses (Part IX)
$94,238
Management and general expenses
$7,645
Fundraising expenses
$3,887
Program service expenses (Part III)
$94,238

Program services were 89.1% 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.

  • 1d · Related organizations

    $2,750

  • 1f · All other contributions, gifts and grants

    $57,526

  • 2a · Program service revenue: SPONSORSHIP

    total $250 · related or exempt $250

  • 2b · Program service revenue: RISING CEO'S

    total $12,000 · related or exempt $12,000

  • 2c · Program service revenue: SUIT UP

    total $200 · related or exempt $200

  • 8a · Fundraising events: gross income

    $118,799

  • 8b · Fundraising events: direct expenses

    $52,313

  • 8c · Net income from fundraising events

    total $66,486 · unrelated business $66,486

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $20,000 · program services $20,000

  • 11a · Fees: management

    total $30,110 · program services $25,393 · management and general $4,717

  • 11c · Fees: accounting

    total $9,321 · program services $5,807 · management and general $1,757 · fundraising $1,757

  • 11g · Fees: other

    total $3,921 · program services $2,614 · fundraising $1,307

  • 12 · Advertising and promotion

    total $11,250 · program services $11,100 · management and general $75 · fundraising $75

  • 13 · Office expenses

    total $1,401 · program services $351 · management and general $699 · fundraising $351

  • 24a · Other expenses: RISING CEOS

    total $667 · program services $667

  • 24b · Other expenses: PROCESSING FEES

    total $1,192 · program services $398 · management and general $397 · fundraising $397

  • 24c · Other expenses: SUIT UP

    total $405 · program services $405

  • 24e · All other expenses

    total $27,503 · program services $27,503

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $69,549 · end of year $98,735

  • 27 · Net assets without donor restrictions

    beginning of year $69,549 · end of year $98,735

Mission and programs · 2025

Mission

TO CONNECT, EMPOWER, AND ELEVATE UNDERREPRESENTED ENTREPRENEURS.

  • THE GRATITUDE GALA IS OUR ANNUAL FUNDRAISING EVENT THAT SUPPORTS OUR PROGRAMS. EVERY SPONSORSHIP, DONATION, AUCTION CONTRIBUTION, AND TICKET PURCHASED HELPS THE MAC FOUNDATION CONTINUE CREATING ACCESS, OPPORTUNITY, AND SUPPORT FOR UNDERREPRESENTED ENTREPRENEURS, STUDENTS, AND EMERGING LEADERS. THE CONTRIBUTIONS RECEIVED HELP FUND TRANSFORMATIVE PROGRAMS SUCH AS SUIT UP, RISING CEOS, MAC SCHOLARSHIPS, MAC XCELERATOR, UMOJA FORUM, AND OTHER ESSENTIAL MAC FOUNDATION INITIATIVES THAT PROVIDE MENTORSHIP, EDUCATION, ACCESS TO RESOURCES, AND OPPORTUNITIES FOR GROWTH. TOGETHER, WE CELEBRATE EXCELLENCE, HONOR LEADERSHIP, AND OPEN DOORS FOR THE NEXT GENERATION OF CHANGEMAKERS

    Expenses $52,315 · Revenue $118,799

  • THE RISING CEOS PROGRAM CULTIVATES THE NEXT GENERATION OF BUSINESS LEADERS THROUGH A TEN-WEEK ENTREPRENEURIAL DEVELOPMENT EXPERIENCE FOR HIGH SCHOOL AND COLLEGE STUDENTS. PARTICIPANTS ENGAGE IN WORKSHOPS ON FINANCIAL LITERACY, LEADERSHIP, INNOVATION, AND BUSINESS PLANNING, CULMINATING IN A PITCH COMPETITION WHERE THEY PRESENT THEIR VENTURES TO A PANEL OF LOCAL EXECUTIVES AND EDUCATORS. SUPPORTED BY PARTNERS SUCH AS GOOGLE, BANK OF AMERICA, JOHN A. AND DIANNE M. SCOTT FOUNDATION, METROPOLITAN COMMUNITY COLLEGE, AND LOZIER, THE PROGRAM AIMS TO BUILD CONFIDENCE, CRITICAL THINKING, AND COLLABORATION AMONG YOUNG LEADERS. THROUGH MENTORSHIP AND EXPERIENTIAL LEARNING, RISING CEOS EMPOWERS STUDENTS TO TRANSFORM IDEAS INTO ACTION AND CAREERS INTO LEGACIES.

    Expenses $21,826 · Grants $500 · Revenue $12,000

  • THE SUIT UP PROGRAM EMPOWERS UNDERSERVED YOUTH AND YOUNG ADULTS BY PROVIDING PROFESSIONAL ATTIRE, MENTORSHIP, AND WORKFORCE READINESS TRAINING. THROUGH QUARTERLY SESSIONS, PARTICIPANTS RECEIVE NOT ONLY SUITS AND BUSINESS CLOTHING BUT ALSO CAREER COACHING, MOCK INTERVIEWS, AND ACCESS TO EMPLOYMENT OPPORTUNITIES. MAC PARTNERS WITH BOTH NONPROFIT ORGANIZATIONS AND CORPORATE SPONSORS TO DELIVER THIS PROGRAM, ENSURING THAT EACH PARTICIPANT LEAVES WITH THE CONFIDENCE AND TOOLS NEEDED TO ENTER THE WORKFORCE OR PURSUE HIGHER EDUCATION. THE INITIATIVE REINFORCES THE CHAMBERS BELIEF THAT ECONOMIC EMPOWERMENT BEGINS WITH DIGNITY, OPPORTUNITY, AND PREPARATION.

    Expenses $13,497

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $6,600 · Grants $20,000 · Revenue $21,615

  • THE UMOJA FORUM FOSTERS UNITY AND COLLABORATION BETWEEN AFRICAN IMMIGRANTS AND AFRICAN AMERICANS THROUGH DIALOGUE, STORYTELLING, AND JOINT INITIATIVES. DERIVED FROM THE SWAHILI WORD FOR UNITY, UMOJA PROVIDES A SPACE FOR HONEST CONVERSATION AND SHARED LEARNING THAT BRIDGES CULTURAL DIVIDES AND STRENGTHENS COLLECTIVE INFLUENCE. THE PROGRAM FEATURES BOTH VIRTUAL AND IN-PERSON EVENTS THAT EXPLORE ISSUES SUCH AS RACIAL EQUITY, CULTURAL IDENTITY, AND ECONOMIC MOBILITY. THROUGH THESE FORUMS, MAC HELPS BUILD STRONGER ALLIANCES WITHIN THE BLACK DIASPORA COMMUNITY TO PROMOTE MUTUAL GROWTH AND EMPOWERMENT.

As filed on the 2025 return. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • Karine E Sokpoh

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5
  • Darell Black

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Dr Albert Kate

    TREASURER

    Total calculated
    $0
    Hours/week
    1
  • Dr Matthew Omojola

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Tierra Nesbitt

    VP MARKETING

    Total calculated
    $0
    Hours/week
    1
  • Ralph Abalo

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Pierre Bita

    SECRETARY

    Total calculated
    $0
    Hours/week
    1
  • Ike Igbokwe

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

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.

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
2025
Filed
14 May 2026
IRS schema version
2025v4.2
Source object
202622199349301607

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