Form 990 for tax year 2022
Filed by MILLIONAIRE MASTERMIND ACADEMY INC.
Totals
- Total revenue
- $208,933
- Total expenses
- $202,935
- Contributions and grants received
- $198,347
- Grants paid
- $0
- Program service revenue
- $10,581
- Investment income
- $5
- Other revenue
- $0
- Total assets, end of year
- -$108
- Total liabilities, end of year
- $575,000
- Net assets or fund balances, end of year
- -$575,108
- Program services expenses (Part IX)
- $175,185
- Management and general expenses
- $27,750
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $175,185
Program services were 86.3% 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.
-
1f · All other contributions, gifts and grants
$198,347
-
2a · Program service revenue: Program Revenue
total $10,581 · related or exempt $10,581
-
3 · Investment income
total $5 · related or exempt $5
-
6c · Rental income or loss
real property $0 · personal property $0
-
6d · Net rental income or loss
total $0
-
7c · Gain or loss
securities $0 · other assets $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
11a · Fees: management
total $110,477 · program services $97,077 · management and general $13,400
-
11b · Fees: legal
total $185 · management and general $185
-
11c · Fees: accounting
total $2,000 · management and general $2,000
-
12 · Advertising and promotion
total $28,545 · program services $28,545
-
14 · Information technology
total $8,403 · program services $8,403
-
16 · Occupancy
total $12,758 · program services $10,139 · management and general $2,619
-
17 · Travel
total $10,485 · program services $10,485
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $1,704 · management and general $1,704
-
24a · Other expenses: Furniture and Equipment
total $2,104 · management and general $2,104
-
24b · Other expenses: Professional Fees/Associations
total $3,608 · management and general $3,608
-
24c · Other expenses: Printing and Shipping
total $7,180 · program services $6,538 · management and general $642
-
24d · Other expenses: Supplies
total $13,648 · program services $13,648
-
24e · All other expenses
total $1,838 · program services $350 · management and general $1,488 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $24,392 · end of year -$108
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $200,000 · end of year $575,000
-
23 · Secured mortgages and notes payable
beginning of year $57,400
-
27 · Net assets without donor restrictions
beginning of year -$233,008
Mission and programs · 2022
Mission
ThemissionofTheMillionaireMastermindAcademyistoeducateandsupportthegrowthofwomenownedbusinessestherebystrengtheningtheirimpactupontheeconomyandmitigatingtheproblempresentedbypoverty.
Activities or mission (Part I)
Millionaire Mastermind Academy's mission is to end poverty through entrepreneurship for women worldwide.
-
The Millionaire Mastermind Academy have served over 2500 women through the Economic Empowerment Program, Impact AZ Program, Real Estate Accelerator Program and Entrepreneur Accelerator Program. Each program tailored to change the trajectory of the participants lives by focusing on areas such as banking and finance, media and entertainment, retail and trade, professional services, construction, real estate, information technology, and property management, giving participants the resources to be successful in these lucrative fields.
Expenses $175,185 · Revenue $208,933
As filed on the 2022 return.
Listed in Part VII
-
Toshia Posey
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Tye Hayes
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Joe Lubeck
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Alice Livingston
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Cameron Robb
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Jeames Geathers
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Jacques Posey
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Erin Floyd
Board Member
- Total calculated
- $0
- Hours/week
- 2
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.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 May 2023
- IRS schema version
- 2022v5.0
- Source object
- 202332129349301813
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