Form 990 for tax year 2023

Totals

Total revenue

$352,955

Total expenses

$398,178

Contributions and grants received

$252,835

Grants paid

$29,500

Program service revenue

$100,120

Investment income

$0

Other revenue

$0

Total assets, end of year

$149,615

Total liabilities, end of year

$27,876

Net assets or fund balances, end of year

$121,739

Program services expenses (Part IX)

$179,363

Management and general expenses

$132,928

Fundraising expenses

$85,887

Program service expenses (Part III)

$179,363

Program services were 45.0% 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.

Mission and programs · 2023

• THE PITCH BLACK ACCELERATOR ("PBA") IS AN ENTERPRISE ACCELERATOR PROGRAM DESIGNED TO STRENGTHEN, ENERGIZE, AND SUPPORT STARTUPS AND SMALL BUSINESSES LED BY BLPOC ENTREPRENEURS IN NEBRASKA AND THROUGHOUT THE MIDLANDS. PBA IDENTIFIES BLACK BUSINESS LEADERS WITH IMPACT-ORIENTED SOLUTIONS, ADDRESSING ESSENTIAL COMMUNITY NEEDS WHILE SPURRING SUSTAINABLE GROWTH.

  Expenses $79,955 · Grants $29,500 · Revenue $100,120

• RISING CEOS IS A LEADERSHIP AND ENTREPRENEURSHIP PROGRAM WHICH IS MADE POSSIBLE BY GRANTS OF THE OMAHA COMMUNITY FOUNDATION, SHERWOOD FOUNDATION AND WEITZ FOUNDATION. THE PROGRAM'S GOAL IS TO FOSTER ENTREPRENEURIAL SPIRIT, TECHNOLOGY, AND LEADERSHIP SKILLS AMONG AT-RISK YOUNG BLACK AND BROWN GIRLS AND BOYS, BETWEEN THE AGES OF 14 TO 19 YEARS. IT IS DESIGNED TO CREATE OPPORTUNITIES FOR TEENS IN AT-RISK POPULATIONS IN BLACK AND BROWN, IMMIGRANT AND REFUGEE COMMUNITIES SO TO INSPIRE AND FEED THE PIPELINE OF FUTURE MINORITY ENTREPRENEURS.

  Expenses $24,460

• THE MAC XCELERATOR (MAC-X) IS AN ENTERPRISE ACCELERATOR PROGRAM DESIGNED TO STRENGTHEN, ENERGIZE, AND SUPPORT STARTUPS AND SMALL BUSINESSES LED BY BLPOC ENTREPRENEURS IN NEBRASKA AND THROUGHOUT THE MIDLANDS. MAC-X IDENTIFIES BLACK BUSINESS LEADERS WITH IMPACT-ORIENTED SOLUTIONS, ADDRESSING ESSENTIAL COMMUNITY NEEDS WHILE SPURRING SUSTAINABLE GROWTH. IN ORDER TO CATER TO A WIDE AUDIENCE, THE MAC-X PROGRAM WILL BE HELD BIANNUALLY, WITH ONE SESSION IN THE FALL AND ANOTHER IN THE SPRING. PARTICIPANTS IN THE PROGRAM WILL HAVE THE OPPORTUNITY TO RECEIVE FINANCIAL INCENTIVES AND MAY CHOOSE TO APPLY FOR THE PITCH BLACK COMPETITION. HOWEVER, BEING PART OF THE MAC-X PROGRAM DOES NOT GUARANTEE PARTICIPATION IN THE PITCH BLACK COMPETITION OR FINALE. COMPLETING THE MAC-X PROGRAM WILL ENABLE COHORT MEMBERS TO RECEIVE UP TO $ 1,000 IN SEED FUNDS.

  Expenses $17,988

• THE MISSION OF THE MIDLANDS AFRICAN CHAMBER'S SUIT UP PROGRAM IS TO EMPOWER YOUNG MEN AND WOMEN TO ACHIEVE ECONOMIC INDEPENDENCE BY PROVIDING A NETWORK OF SUPPORT, PROFESSIONAL ATTIRE, HEADSHOT, AND JOB READINESS WORKFORCE PREPARATION. THIS PROGRAM IS DESIGNED TO CREATE OPPORTUNITIES FOR TEENS AND YOUNG ADULTS IN AT-RISK POPULATIONS IN BLACK AND BROWN, IMMIGRANT, AND REFUGEE COMMUNITIES SO AS TO INSPIRE AND FEED THE PIPELINE OF FUTURE MINORITY ENTREPRENEURS.

  Expenses $13,466

• MEMBERS WILL HAVE ACCESS TO UNIQUE NETWORKING AND PROMOTIONAL OPPORTUNITIES, EDUCATIONAL PROGRAMS, BUSINESS SERVICES, AND SPECIAL EVENTS ALL DESIGNED TO HELP THEIR BUSINESS SUCCEED. OUR ECONOMIC DEVELOPMENT ACTIVITIES WILL FEATURE THE CHAMBER AS AN ACTIVE PARTNER IN BUSINESS ATTRACTION, BUSINESS RETENTION AND EXPANSION, TRANSPORTATION, REDEVELOPMENT, WORKFORCE DEVELOPMENT, AND RECRUITMENT AND RETENTION OF TALENT. WE BELIEVE THAT AN EXCEPTIONAL QUALITY OF LIFE IS ESSENTIAL TO CREATING A SUSTAINABLE ECONOMY.

  Expenses $18,075

• THE MEMBERSHIP EMERGENCY FUND PROGRAM IS FOR SMALL BUSINESS OWNERS THAT ARE FACING HARDSHIP INCLUDING BUSINESS CLOSURE DUE TO LACK OF RESOURCES TO PAY IMMEDIATE BUSINESS ELIGIBLE EXPENSES. BY PROVIDING OUR VALUED MEMBER ORGANIZATIONS WITH THE TOOLS THEY NEED, WE EMPOWER THEM TO FULFILL THEIR MISSIONS, THEREBY CONTRIBUTING TO THE BETTERMENT OF THE ENTIRE COMMUNITY

  Expenses $12,269

• THE MAC FOUNDATION SCHOLARSHIPS HAVE BEEN ESTABLISHED TO ASSIST BLACK, REFUGEE, AND IMMIGRANT HIGH SCHOOL SENIORS AND COLLEGE STUDENTS STUDYING ACCOUNTING, FINANCE, LAW, AND STEM (SCIENCE, TECHNOLOGY, ENGINEERING, AND MATHEMATICS).

  Expenses $13,150

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

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.

• MAC FOUNDATION INC

  501(C)(3) · TO CONNECT, EMPOWER, AND ELAVATE UNDERREPRESENTED ENTREPRENEURS. · NE

Provenance

Return type

form_990

Tax year

2023

Filed

9 October 2024

IRS schema version

2023v5.1

Source object

202412839349300136

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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