Totals
- Total revenue
- $714,241
- Total expenses
- $875,523
- Contributions and grants received
- $665,777
- Grants paid
- $0
- Program service revenue
- $45,342
- Investment income
- $0
- Other revenue
- $3,122
- Total assets, end of year
- $629,752
- Total liabilities, end of year
- $10,696
- Net assets or fund balances, end of year
- $619,056
- Program services expenses (Part IX)
- $268,306
- Management and general expenses
- $405,518
- Fundraising expenses
- $201,699
- Program service expenses (Part III)
- $268,306
Program services were 30.6% 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
$665,777
-
2a · Program service revenue: PROGRAM INCOME
total $45,342 · related or exempt $45,342
-
11a · Other revenue: MISCELLANEOUS
total $3,122 · related or exempt $3,122
-
11e · Other revenue, total
$3,122
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $171,710 · program services $42,927 · management and general $85,855 · fundraising $42,928
-
7 · Other salaries and wages
total $238,754 · program services $149,870 · management and general $28,682 · fundraising $60,202
-
9 · Other employee benefits
total $25,418 · program services $13,094 · management and general $6,203 · fundraising $6,121
-
10 · Payroll taxes
total $33,640 · program services $15,970 · management and general $8,703 · fundraising $8,967
-
11b · Fees: legal
total $6,445 · management and general $6,445
-
11c · Fees: accounting
total $33,021 · management and general $33,021
-
11g · Fees: other
total $10,354 · management and general $10,354
-
12 · Advertising and promotion
total $34,089 · program services $2,160 · management and general $27,260 · fundraising $4,669
-
16 · Occupancy
total $53,988 · program services $26,000 · management and general $24,671 · fundraising $3,317
-
17 · Travel
total $5,718 · program services $488 · management and general $5,123 · fundraising $107
-
19 · Conferences, conventions and meetings
total $9,711 · program services $538 · management and general $9,173
-
22 · Depreciation, depletion and amortization
total $3,771 · management and general $3,771
-
23 · Insurance
total $2,991 · program services $1,221 · management and general $1,117 · fundraising $653
-
24a · Other expenses: OUTSIDE CONSULTANTS AND
total $155,949 · program services $10,606 · management and general $144,968 · fundraising $375
-
24b · Other expenses: FUNDRAISING EXPENSES
total $73,034 · fundraising $73,034
-
24c · Other expenses: PROGRAM EXPENSE
total $5,432 · program services $5,432
-
24d · Other expenses: DUES AND SUBSCRIPTIONS
total $5,069 · management and general $5,069
-
24e · All other expenses
total $6,429 · management and general $5,103 · fundraising $1,326
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $733,913 · end of year $620,689
-
3 · Pledges and grants receivable
beginning of year $75,000
-
9 · Prepaid expenses and deferred charges
beginning of year $4,838
-
10a · Land, buildings and equipment: cost or other basis
$19,209
-
10b · Land, buildings and equipment: accumulated depreciation
$11,796
-
10c · Land, buildings and equipment, net
beginning of year $8,000 · end of year $7,413
-
15 · Other assets
beginning of year $1,650 · end of year $1,650
-
17 · Accounts payable and accrued expenses
beginning of year $13,235 · end of year $1,568
-
24 · Unsecured notes and loans payable
beginning of year $20,700
-
25 · Other liabilities
beginning of year $9,128 · end of year $9,128
-
27 · Net assets without donor restrictions
beginning of year $743,880 · end of year $496,264
-
28 · Net assets with donor restrictions
beginning of year $36,458 · end of year $122,792
Mission and programs · 2023
Mission
THE GRAY MATTER EXPERIENCE INSPIRES, EDUCATES, AND EMPOWERS THE NEXT GENERATION OF BLACK CHANGEMAKERS BY BRIDGING ENTREPRENEURIAL KNOWLEDGE GAP AND DRIVING POSITIVE COMMUNITY CHANGE.
-
THE GRAY MATTER EXPERIENCE EMPOWERS YOUNG BLACK PEOPLE, AGES 12-24, TO DISRUPT THE STATUS QUO, MOBILIZE INNOVATIVE IDEAS, AND CHAMPION THEIR COMMUNITIES. FOR THE GRAY MATTER EXPERIENCE, ENTREPRENEURSHIP IS NOT JUST A CAREER. SINCE 2016, THEY'VE SUPPORTED MORE THAN 2,000 YOUNG PEOPLE THROUGH PERSONAL DEVELOPMENT, BUSINESS EDUCATION, AND NURTURING THEIR COMMITMENT TO SOCIAL IMPACT. THEIR PROGRAMS OFFER A NATIONALLY-RECOGNIZED CURRICULUM, DESIGNED BY BLACK LEADERS, THAT CULTIVATES THE ENTREPRENEURIAL MINDSET - AN APPROACH THAT EMBRACES INNOVATION, AUTHENTIC LEADERSHIP, AND A PROACTIVE DRIVE TO SOLVE CHALLENGES ACROSS ALL CAREER PATHS.THE GRAY MATTER EXPERIENCE'S ENGAGING TUITION-FREE PROGRAMS, NATIONAL PARTNERSHIPS, AND COMMUNITY OF ALLIES ENSURE THAT CURIOUS CREATORS AND BUDDING VISIONARIES ARE EQUIPPED WITH ESSENTIAL SKILLS, RELATIONSHIPS, AND RESOURCES TO BECOME AGENTS OF CHANGE AND THRIVE IN A GLOBAL ECONOMY.
Expenses $268,306 · Revenue $48,464
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Seth GreenSETH GREEN
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 5
-
Chika UmeadiCHIKA UMEADI
CHAIR
- Total calculated
- $0
- Hours/week
- 5
-
Layla LumpkinLAYLA LUMPKIN
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
Pamela RandlePAMELA RANDLE
SECRETARY
- Total calculated
- $0
- Hours/week
- 5
-
Britney RobbinsBRITNEY ROBBINS
FOUNDER AND CEO
- Total calculated
- $171,710
- From this org
- $171,710
- From related orgs
- $0
- Other
- $0
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $171,710
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $171,710
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 · 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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 28 October 2024
- IRS schema version
- 2023v5.1
- Source object
- 202443029349301209
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