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Nonprofiteer
← TD JAKES FOUNDATION

Form 990 for tax year 2023

Filed by TD JAKES FOUNDATION.

Totals

Total revenue
$7,045,677
Total expenses
$5,143,981
Contributions and grants received
$7,044,242
Grants paid
$1,039,500
Program service revenue
$0
Investment income
$1,435
Other revenue
$0
Total assets, end of year
$4,042,300
Total liabilities, end of year
$1,856,279
Net assets or fund balances, end of year
$2,186,021
Program services expenses (Part IX)
$4,062,295
Management and general expenses
$855,000
Fundraising expenses
$226,686
Program service expenses (Part III)
$4,062,295

Program services were 79.0% 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.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $7,044,242

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $1,435 · related or exempt $0 · unrelated business $0 · excluded $1,435

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $0

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,039,500 · program services $1,039,500

  • 5 · Compensation of officers, directors and key employees

    total $137,606 · program services $81,385 · management and general $29,093 · fundraising $27,128

  • 7 · Other salaries and wages

    total $798,321 · program services $474,171 · management and general $166,093 · fundraising $158,057

  • 9 · Other employee benefits

    total $82,743 · program services $47,964 · management and general $18,793 · fundraising $15,986

  • 10 · Payroll taxes

    total $78,872 · program services $44,766 · management and general $19,184 · fundraising $14,922

  • 11a · Fees: management

    total $781,625 · program services $313,777 · management and general $467,602 · fundraising $246

  • 11b · Fees: legal

    total $17,142 · program services $675 · management and general $16,467 · fundraising $0

  • 11c · Fees: accounting

    total $82,334 · program services $2,233 · management and general $77,634 · fundraising $2,467

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $132,118 · program services $132,118 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $84,621 · program services $58,123 · management and general $19,233 · fundraising $7,265

  • 14 · Information technology

    total $50,739 · program services $26,533 · management and general $24,206 · fundraising $0

  • 16 · Occupancy

    total $300 · management and general $300

  • 17 · Travel

    total $184,327 · program services $184,327 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $4,000 · management and general $4,000 · fundraising $0

  • 20 · Interest

    total $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $714 · management and general $714

  • 24a · Other expenses: Program Expenses

    total $154,167 · program services $154,167

  • 24b · Other expenses: Other Expenses

    total $1,514,852 · program services $1,502,556 · management and general $11,681 · fundraising $615

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $431,701 · end of year $716,467

  • 2 · Savings and temporary cash investments

    beginning of year $25,133 · end of year $26,168

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $3,250,000

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,564 · end of year $49,665

  • 10a · Land, buildings and equipment: cost or other basis

    $0

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $281,073 · end of year $1,856,279

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $184,325 · end of year $2,186,021

Mission and programs · 2023

Mission

The primary mission of the Foundation is to connect underrepresented and underserved communities to life changing opportunities.

Activities or mission (Part I)

TO CREATE SUSTAINABLE WORKFORCE DEVELOPMENT AND COMMUNITY BUILDING SERVICES ESSENTIAL TO BUILDING BRIDGES TO OPPORTUNITIES IN THE U.S. AND AROUND THE WORLD.

  • The International Leadership Summit (ILS) is a transformative conference designed for visionaries, entrepreneurs, intrapreneurs, and leaders from around the globe. Led by Chairman Jakes, the visionary founder, this highly anticipated event features a lineup of distinguished industry leaders dedicated to empowering attendees. Participants will cultivate a relentless drive for intellectual curiosity-an essential trait for effective leadership. At ILS, individuals from diverse backgrounds come together to explore strategies and insights that enhance their effectiveness in their respective fields, fostering growth and innovation in leadership.

    Expenses $2,379,634 · Grants $800,000

  • The STEAM Program is an educational approach that integrates science, technology, engineering, arts, and mathematics to enhance student learning. By using these disciplines as access points, the program encourages inquiry, dialogue, and critical thinking among students. This interdisciplinary framework fosters creativity and innovation, equipping learners with the skills needed to tackle real-world challenges and engage in meaningful problem-solving. Through hands-on experiences and collaborative projects, the STEAM Program inspires students to explore and connect these fields in impactful ways.

    Expenses $854,100 · Grants $28,500

  • PATHWAY to Opportunity serves as the umbrella for the T.D. Jakes Foundation's programs focused on Workforce Readiness and Financial Fortitude. The Workforce Readiness initiative aims to build bridges between jobseekers and transformative employment opportunities. We collaborate with local, national, and global companies seeking talent, connecting them to diverse, job-ready candidates. Our program acts as a vital resource for jobseekers, offering in-person training workshops and online resources that cover job preparation, resume-building, interviewing skills, social and emotional capabilities, and more. Through these efforts, we empower individuals to secure meaningful employment and enhance their financial stability.

    Expenses $828,561 · Grants $211,000

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

Listed in Part VII

  • Hattie Hill

    SECRETARY & DIRECTOR (UNTIL 3/23)

    Total calculated
    $50,652
    From this org
    $43,953
    From related orgs
    $0
    Other
    $6,699
    Hours/week
    40

  • Jeff Rich

    TREASURER & DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Td Jakes

    Chairman; President & CEO (Until 4/23)

    Total calculated
    $0
    Hours/week
    1

  • Cynthia Marshall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Janice Bryant Howroyd

    Director (Start 11/23)

    Total calculated
    $0
    Hours/week
    1

  • Kelley Cornish

    President & CEO (Start 4/23)

    Total calculated
    $137,606
    From this org
    $137,606
    From related orgs
    $0
    Other
    $0
    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.

Grants on this return

  • The Potters House of Dallas

    $800,000

    To offer essential insights and strategies that promote both personal and professional growth. This conference serves as an investment in strengthening leadership skills and facilitating valuable connections across various industries.

  • Dallas Summer Musicals

    $200,000

    To provide support for high school theater students from Dallas ISD to attend a live performance of Beetlejuice, offering them an engaging and immersive experience in the performing arts.

  • Dallas Momentum Inc

    $20,000

    Tomorrow Fund Investment

  • Girl Scouts of Northeast Texas

    $10,000

    Support Women of Distinction Luncheon 2023

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202423209349315182

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