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Nonprofiteer
← MINDS MATTER NATIONAL INC

Form 990 for tax year 2022

Filed by MINDS MATTER NATIONAL INC.

Totals

Total revenue
$1,731,761
Total expenses
$780,077
Contributions and grants received
$1,497,861
Grants paid
$0
Program service revenue
$184,600
Investment income
$49,300
Other revenue
$0
Total assets, end of year
$2,170,913
Total liabilities, end of year
$61,254
Net assets or fund balances, end of year
$2,109,659
Program services expenses (Part IX)
$450,572
Management and general expenses
$208,677
Fundraising expenses
$120,828
Program service expenses (Part III)
$450,572

Program services were 57.8% 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

    $1,497,861

  • 2a · Program service revenue: LICENSE FEES

    total $184,600 · related or exempt $184,600

  • 3 · Investment income

    total $29,789 · excluded $29,789

  • 7a · Gross sales of assets other than inventory

    securities $1,600,434

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

    securities $1,580,923

  • 7c · Gain or loss

    securities $19,511

  • 7d · Net gain or loss

    total $19,511 · excluded $19,511

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $281,241 · program services $192,746 · management and general $39,586 · fundraising $48,909

  • 7 · Other salaries and wages

    total $181,934 · program services $124,672 · management and general $25,606 · fundraising $31,656

  • 9 · Other employee benefits

    total $50,976 · program services $34,997 · management and general $7,183 · fundraising $8,796

  • 10 · Payroll taxes

    total $29,617 · program services $20,334 · management and general $4,173 · fundraising $5,110

  • 11c · Fees: accounting

    total $107,101 · management and general $107,101

  • 11g · Fees: other

    total $10,000 · program services $10,000

  • 13 · Office expenses

    total $35,390 · program services $30,857 · management and general $4,533

  • 14 · Information technology

    total $11,998 · program services $6,093 · management and general $1,521 · fundraising $4,384

  • 23 · Insurance

    total $42,872 · program services $29,389 · management and general $6,035 · fundraising $7,448

  • 24a · Other expenses: OTHER EXPENSES

    total $20,658 · management and general $10,769 · fundraising $9,889

  • 24b · Other expenses: PROFESSIONAL DEVELOPMEN

    total $7,693 · program services $1,484 · management and general $1,573 · fundraising $4,636

  • 24c · Other expenses: BANK CHARGE

    total $597 · management and general $597

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,070,971 · end of year $2,015,878

  • 3 · Pledges and grants receivable

    beginning of year $287 · end of year $11,028

  • 9 · Prepaid expenses and deferred charges

    beginning of year $42,242 · end of year $19,801

  • 15 · Other assets

    beginning of year $69,134 · end of year $124,206

  • 17 · Accounts payable and accrued expenses

    beginning of year $24,659 · end of year $61,254

  • 27 · Net assets without donor restrictions

    beginning of year $1,157,975 · end of year $2,109,659

Mission and programs · 2022

Mission

MINDS MATTER CONNECTS DRIVEN AND DETERMINED STUDENTS FROM LOW-INCOME FAMILIES WITH THE PEOPLE, PREPARATION AND POSSIBILITIES TO SUCCEED IN COLLEGE, CREATE THEIR FUTURE, AND CHANGE THE WORLD.

  • MINDS MATTER HAS FOURTEEN SEPARATELY INCORPORATED CHAPTERS ACROSS THE COUNTRY THROUGH AFFILIATION/LICENSING AGREEMENTS. TOGETHER, THE ORGANIZATION AND ITS AFFILIATED CHAPTERS ARE SERVED BY MORE THAN 2,200 VOLUNTEERS AND FEWER THAN THIRTY PAID STAFF. THE NATIONAL ORGANIZATION PROVIDES A VARIETY OF SERVICES TO SUPPORT THE CHAPTERS, WITH MOST PROGRAM EXPENSES HELD AT THE CHAPTER LEVEL AND MOST ADMINISTRATIVE AND FUNDRAISING EXPENSES HELD BY THE ORGANIZATION. THE NATIONAL ORGANIZATION PROVIDES TOOLS AND RESOURCES TO SUPPORT EACH CHAPTER'S PROGRAMMING MARKETING, FUNDRAISING, LEGAL, INFORMATION TECHNOLOGY, METRICS/DATA MANAGEMENT AND FINANCIAL MANAGEMENT NEEDS.

    Expenses $450,572 · Revenue $184,600

As filed on the 2022 return.

Listed in Part VII

  • Brent Ashton

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Francisco Paret

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Deb McGinn

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Adaku Nwachukwu

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Ashish Shah

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Leanne Huebner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Recht

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Peter Agnes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Elvis Rodriguez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Shari Noonan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Melanie Girton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Avi Fernandes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bob Alig

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Phil Taylor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sean Stalfort

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jean Huang

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ram Vittal

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Patrick A Corvington

    EXECUTIVE DIRECTOR

    Total calculated
    $244,146
    From this org
    $230,554
    From related orgs
    $0
    Other
    $13,592
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $230,554
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $13,592
    Filer's total
    $244,146

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.

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
2022
Filed
13 May 2024
IRS schema version
2022v5.0
Source object
202441349349304239

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