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Nonprofiteer
← GOOD SOIL EDC INC

Form 990 for tax year 2024

Filed by GOOD SOIL EDC INC.

Totals

Total revenue
$4,135,636
Total expenses
$3,874,784
Contributions and grants received
$3,568,978
Grants paid
$0
Program service revenue
$566,087
Investment income
$71
Other revenue
$500
Total assets, end of year
$275,508
Total liabilities, end of year
$15,510
Net assets or fund balances, end of year
$259,998
Program services expenses (Part IX)
$2,452,737
Management and general expenses
$906,700
Fundraising expenses
$515,347
Program service expenses (Part III)
$2,452,737

Program services were 63.3% 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.

  • 1d · Related organizations

    $15,000

  • 1f · All other contributions, gifts and grants

    $3,553,978

  • 2a · Program service revenue: CONFERENCE

    total $501,799 · related or exempt $501,799

  • 2b · Program service revenue: SUBSCRIPTIONS

    total $64,288 · related or exempt $64,288

  • 3 · Investment income

    total $71 · unrelated business $71

  • 11a · Other revenue: CREDIT CARD REWARDS

    total $500 · unrelated business $500

  • 11e · Other revenue, total

    $500

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $610,000 · program services $386,130 · management and general $142,740 · fundraising $81,130

  • 7 · Other salaries and wages

    total $352,422 · program services $223,083 · management and general $82,467 · fundraising $46,872

  • 9 · Other employee benefits

    total $267,750 · program services $169,485 · management and general $62,654 · fundraising $35,611

  • 10 · Payroll taxes

    total $76,829 · program services $48,633 · management and general $17,978 · fundraising $10,218

  • 11a · Fees: management

    total $61,876 · program services $39,167 · management and general $14,479 · fundraising $8,230

  • 11b · Fees: legal

    total $12,229 · program services $7,741 · management and general $2,862 · fundraising $1,626

  • 11c · Fees: accounting

    total $21,575 · program services $13,657 · management and general $5,049 · fundraising $2,869

  • 11g · Fees: other

    total $1,001,514 · program services $633,958 · management and general $234,354 · fundraising $133,202

  • 12 · Advertising and promotion

    total $718,308 · program services $454,689 · management and general $168,084 · fundraising $95,535

  • 13 · Office expenses

    total $8,217 · program services $5,201 · management and general $1,923 · fundraising $1,093

  • 14 · Information technology

    total $326,117 · program services $206,432 · management and general $76,311 · fundraising $43,374

  • 17 · Travel

    total $103,557 · program services $65,552 · management and general $24,232 · fundraising $13,773

  • 19 · Conferences, conventions and meetings

    total $197,933 · program services $125,292 · management and general $46,316 · fundraising $26,325

  • 24a · Other expenses: MERCHANDISE

    total $33,927 · program services $21,476 · management and general $7,939 · fundraising $4,512

  • 24b · Other expenses: PAYROLL PROCESSING FEES

    total $29,848 · program services $18,894 · management and general $6,984 · fundraising $3,970

  • 24c · Other expenses: MERCHANT ACCOUNT FEES

    total $26,387 · program services $16,703 · management and general $6,175 · fundraising $3,509

  • 24d · Other expenses: MISCELLANEOUS

    total $9,441 · program services $5,976 · management and general $2,209 · fundraising $1,256

  • 24e · All other expenses

    total $16,854 · program services $10,668 · management and general $3,944 · fundraising $2,242

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $177,505

  • 2 · Savings and temporary cash investments

    end of year $92,003

  • 15 · Other assets

    end of year $6,000

  • 17 · Accounts payable and accrued expenses

    end of year $15,510

  • 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 $0 · end of year $259,998

Mission and programs · 2024

Mission

PROVIDE EDUCATIONAL RESOURCES FOR MINORITY, INDIGENOUS OR OTHERWISE UNDER RESOURCED ENTREPRENEURS. THIS WILL BE DONE THROUGH AN ONLINE PLATFORM WHERE INDIVIDUALS CAN ACCESS TRAINING MATERIALS, MENTORSHIP, AND OTHER RESOURCES THAT HAVE HISTORICALLY BEEN DIFFICULT FOR THESE COMMUNITIES TO ACCESS.

  • A CONFERENCE THAT BRINGS TOGETHER ENTREPRENEURS, BUSINESS LEADERS, AND INVESTORS TO SHARE RESOURCES, NETWORK, AND GROW THEIR BUSINESSES. IT INCLUDES WORKSHOPS, PANELS, KEYNOTE SPEAKERS, AND A PITCH COMPETITION. DEDICATED TO HELPING ONE MILLION ENTREPRENEURS GENERATE $1 MILLION DOLLARS IN REVENUE OVER THE NEXT TEN YEARS BY PROVIDING NETWORKING AND SOLUTIONS FOR GROWING AND SCALING BUSINESSES.

    Expenses $2,040,602 · Revenue $501,799

  • GOOD SOIL HQ IS A T.D. JAKES ENTERPRISES PROJECT APP (IOS & ANDROID). APP IS DESIGNED TO CONNECT ENTREPRENEURS WITH RESOURCES AND OPPORTUNITIES TO FOSTER BUSINESS GROWTH AND GENERATIONAL WEALTH, WITH A GOAL OF SUPPORTING A MILLION BUSINESSES IN A DECADE. SELF-PACED COURSES, MENTORSHIP, DAILY DISCUSSIONS, VIDEO MASTERMIND SESSIONS, SPECIAL OFFERS FROM SUPPLIERS AND FUNDERS. APP BRINGS YOU A COMMUNITY TO SUPPORT YOUR BUSINESS GROWTH. THERE ARE 3 MEMBERSHIP LEVELS: IMPACT (FREE), GROW (PAID), & SCALE (INVITE). APP IS CONTINUING TO GROW BY PROVIDING TANGIBLE THINGS THAT ARE HELPING ENTREPRENEURS GROW. HAVE 27,055 MEMBERS

    Expenses $412,135 · Revenue $64,288

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

Listed in Part VII

  • Darwin Bruce

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1
  • Jaylen Bledsoe

    TREASURER

    Total calculated
    $0
    Hours/week
    1
  • John Hope Bryant

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Fadi Khoury

    CHIEF FINANCIAL OFFICER

    Total calculated
    $0
    Hours/week
    15
  • Nicole Fain

    SR DIRECTOR/MANAGER

    Total calculated
    $163,833
    From this org
    $150,000
    From related orgs
    $0
    Other
    $13,833
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $150,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $13,833
    Filer's total
    $163,833

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
12 May 2025
IRS schema version
2024v5.1
Source object
202501329349305820

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