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Nonprofiteer
← COLORSTACK

Form 990 for tax year 2023

Filed by COLORSTACK.

Totals

Total revenue
$1,342,260
Total expenses
$1,874,834
Contributions and grants received
$1,263,463
Grants paid
$302,143
Program service revenue
$0
Investment income
$69,606
Other revenue
$9,191
Total assets, end of year
$1,767,581
Total liabilities, end of year
$253,501
Net assets or fund balances, end of year
$1,514,080
Program services expenses (Part IX)
$1,566,590
Management and general expenses
$176,178
Fundraising expenses
$132,066
Program service expenses (Part III)
$1,566,590

Program services were 83.6% 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

    $1,263,463

  • 3 · Investment income

    total $70,238 · excluded $70,238

  • 7a · Gross sales of assets other than inventory

    other assets $2,242

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

    other assets $2,874

  • 7c · Gain or loss

    other assets -$632

  • 7d · Net gain or loss

    total -$632 · excluded -$632

  • 11a · Other revenue: CASHBACK

    total $9,191 · excluded $9,191

  • 11e · Other revenue, total

    $9,191

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,500 · program services $7,500

  • 2 · Grants to domestic individuals

    total $294,643 · program services $294,643

  • 5 · Compensation of officers, directors and key employees

    total $180,937 · program services $117,609 · management and general $18,094 · fundraising $45,234

  • 7 · Other salaries and wages

    total $509,727 · program services $450,424 · management and general $26,698 · fundraising $32,605

  • 8 · Pension plan contributions

    total $17,109 · program services $13,999 · management and general $2,417 · fundraising $693

  • 9 · Other employee benefits

    total $50,483 · program services $30,999 · management and general $15,347 · fundraising $4,137

  • 10 · Payroll taxes

    total $63,070 · program services $49,940 · management and general $4,199 · fundraising $8,931

  • 11b · Fees: legal

    total $9,000 · management and general $9,000

  • 11c · Fees: accounting

    total $22,767 · management and general $22,767

  • 11e · Fees: professional fundraising services

    total $11,000 · fundraising $11,000

  • 11f · Fees: investment management

    total $7,573 · management and general $7,573

  • 11g · Fees: other

    total $183,580 · program services $155,066 · management and general $28,514

  • 13 · Office expenses

    total $106,095 · program services $99,089 · management and general $3,227 · fundraising $3,779

  • 14 · Information technology

    total $32,225 · program services $30,440 · management and general $630 · fundraising $1,155

  • 16 · Occupancy

    total $601 · program services $601

  • 17 · Travel

    total $86,483 · program services $28,359 · management and general $34,688 · fundraising $23,436

  • 22 · Depreciation, depletion and amortization

    total $8,678 · program services $7,116 · management and general $607 · fundraising $955

  • 24a · Other expenses: OTHER PROGRAM EXPENSES

    total $214,037 · program services $214,037

  • 24b · Other expenses: EDUCATIONAL SUPPLIES

    total $63,177 · program services $63,177

  • 24c · Other expenses: COMMUNICATION

    total $3,732 · program services $3,591 · fundraising $141

  • 24d · Other expenses: BANK & MERCHANT FEES

    total $2,417 · management and general $2,417

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $73,058 · end of year $285,438

  • 3 · Pledges and grants receivable

    beginning of year $569,332 · end of year $690,696

  • 9 · Prepaid expenses and deferred charges

    beginning of year $43,070 · end of year $119,797

  • 11 · Investments: publicly traded securities

    beginning of year $1,686,660 · end of year $570,551

  • 14 · Intangible assets

    beginning of year $19,526 · end of year $101,099

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,868 · end of year $35,033

  • 19 · Deferred revenue

    beginning of year $333,305 · end of year $218,468

  • 27 · Net assets without donor restrictions

    beginning of year $843,973 · end of year $813,812

  • 28 · Net assets with donor restrictions

    beginning of year $1,200,500 · end of year $700,268

Mission and programs · 2023

Mission

COLORSTACK'S MISSION IS TO INCREASE THE NUMBER OF BLACK AND LATINX COMPUTER SCIENCE GRADUATES THAT GO ON TO LAUNCH REWARDING TECHNICAL CAREERS.

  • COLORSTACK FAMILY: THIS IS OUR COMMUNITY AT-LARGE WHICH CONSISTS OF 14,000+ MEMBERS FROM OVER 1,200+ SCHOOLS. WE HOST THIS COMMUNITY ON SLACK, WHERE OUR MEMBERS PROVIDE PEER-TO-PEER SUPPORT, SHARE RESOURCES, AND TAKE ADVANTAGE OF ALL OPPORTUNITIES WE HAVE TO OFFER.

    Expenses $816,477 · Grants $5,600

  • FAMILY FUND: THIS IS THE POOL OF RESOURCES WE PROVIDE TO OUR STUDENTS, CONSISTING OF DIRECT FINANCIAL AID, SCHOLARSHIPS FOR TUITION, AND ACCESS TO SKILL-BUILDING PLATFORMS LIKE ALGOEXPERT.

    Expenses $617,159 · Grants $229,244

  • EVENTS: THIS IS OUR SERIES OF VIRTUAL EVENTS, INCLUDING OUR MONTHLY FAM FRIDAY SERIES AND OUR BI-ANNUAL STACKED UP SUMMIT. BOTH SERIES OF EVENTS ARE DESIGNED TO ACTIVATE AND ENGAGE OUR MEMBERS BY PROVIDING THEM OPPORTUNITIES TO INTERACT WITH RECRUITERS AS WELL AS WORKSHOPS BUILT ON THE PILLARS OF PROFESSIONAL DEVELOPMENT, ACADEMIC SUCCESS, AND COMMUNITY BUILDING.

    Expenses $113,359 · Grants $55,699

  • Expenses $19,595 · Grants $11,600

As filed on the 2023 return.

Listed in Part VII

  • Emily Cunningham

    SECRETARY (UNTIL 01/01/24)

    Total calculated
    $0
    Hours/week
    0.5

  • Wahab Owolabi

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Makinde Adeagbo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Kavita Bala

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Raquel Romano

    SECRETARY (AS OF 01/01/24)

    Total calculated
    $0
    Hours/week
    0.5

  • Jehron Petty

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $185,000
    From this org
    $185,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $185,000

  • Rami Abdou

    HEAD OF ENGINEERING

    Total calculated
    $124,983
    From this org
    $123,295
    From related orgs
    $0
    Other
    $1,688
    Hours/week
    40

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 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 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

Provenance

Return type
form_990
Tax year
2023
Filed
20 February 2025
IRS schema version
2023v6.0
Source object
202520559349301022

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