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Nonprofiteer
← MINNESOTA BLACK COLLECTIVE FOUNDATION

Form 990 for tax year 2024

Filed by MINNESOTA BLACK COLLECTIVE FOUNDATION.

Totals

Total revenue
$2,832,734
Total expenses
$2,146,639
Contributions and grants received
$2,704,114
Grants paid
$1,049,892
Program service revenue
$0
Investment income
$128,620
Other revenue
$0
Total assets, end of year
$5,154,987
Total liabilities, end of year
$152,825
Net assets or fund balances, end of year
$5,002,162
Program services expenses (Part IX)
$1,553,160
Management and general expenses
$364,022
Fundraising expenses
$229,457
Program service expenses (Part III)
$1,553,160

Program services were 72.4% 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

    $2,704,114

  • 1g · Noncash contributions included above

    $0

  • 3 · Investment income

    total $128,620 · related or exempt $0 · unrelated business $0 · excluded $128,620

  • 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

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

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

    $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $809,892 · program services $809,892

  • 2 · Grants to domestic individuals

    total $240,000 · program services $240,000

  • 5 · Compensation of officers, directors and key employees

    total $193,255 · program services $85,335 · management and general $62,789 · fundraising $45,131

  • 7 · Other salaries and wages

    total $159,048 · program services $70,230 · management and general $51,676 · fundraising $37,142

  • 8 · Pension plan contributions

    total $4,053 · program services $1,707 · management and general $1,354 · fundraising $992

  • 9 · Other employee benefits

    total $19,942 · program services $6,402 · management and general $9,281 · fundraising $4,259

  • 10 · Payroll taxes

    total $26,202 · program services $11,696 · management and general $8,483 · fundraising $6,023

  • 11a · Fees: management

    total $82,571 · program services $45,526 · management and general $21,624 · fundraising $15,421

  • 11b · Fees: legal

    total $4,561 · management and general $4,561

  • 11c · Fees: accounting

    total $61,690 · management and general $61,690

  • 11e · Fees: professional fundraising services

    total $55,275 · fundraising $55,275

  • 11g · Fees: other

    total $283,383 · program services $153,606 · management and general $87,313 · fundraising $42,464

  • 13 · Office expenses

    total $7,436 · program services $1,862 · management and general $4,591 · fundraising $983

  • 14 · Information technology

    total $15,871 · program services $9,356 · management and general $4,211 · fundraising $2,304

  • 16 · Occupancy

    total $8,246 · program services $3,615 · management and general $2,703 · fundraising $1,928

  • 17 · Travel

    total $13,404 · program services $7,046 · management and general $4,902 · fundraising $1,456

  • 19 · Conferences, conventions and meetings

    total $122,220 · program services $93,186 · management and general $17,715 · fundraising $11,319

  • 23 · Insurance

    total $6,858 · management and general $6,858

  • 24a · Other expenses: Board and Staff Development

    total $24,889 · program services $8,501 · management and general $11,853 · fundraising $4,535

  • 24b · Other expenses: Dues and Subscriptions

    total $6,285 · program services $5,200 · management and general $1,085 · fundraising $0

  • 24e · All other expenses

    total $1,558 · management and general $1,333 · fundraising $225

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,438,874 · end of year $714,797

  • 2 · Savings and temporary cash investments

    beginning of year $1,717,470 · end of year $3,094,886

  • 3 · Pledges and grants receivable

    beginning of year $1,552,764 · end of year $1,336,156

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,476 · end of year $9,148

  • 17 · Accounts payable and accrued expenses

    beginning of year $45,517 · end of year $42,825

  • 18 · Grants payable

    beginning of year $352,000 · end of year $110,000

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $2,440,401 · end of year $2,314,071

  • 28 · Net assets with donor restrictions

    beginning of year $1,875,666 · end of year $2,688,091

Mission and programs · 2024

Mission

Build black philanthropic power to strengthen the ecosystem of black-led social, political, and economic change in Minnesota and beyond.

  • 1. Culturally Grounded Participatory Grantmaking: In 2024, guided by Community Builders, we disbursed $1.1 million in transformational grants to organizations, individuals, and initiatives, sustaining work critical to the Black community. Our commitment to sharing power through a participatory approach is the magic of the Collective. It has shaped our impact to date, and it is setting our direction as a culturally-rooted organization now and into the future. 2. Nurturing, Connecting, & Strengthening the Ecosystem of Black-led Change: We continue to strengthen the ecosystem of those that serve the Black community through community convenings, retreats, and more. For example, Threading is an annual engagement for 200 of our partners to experience the spirit and genius of those who serve the Black community. Another example is our Rooting engagement, for 3 years, Rooting has been a premier social gathering series curated for people working, leading, and serving the Black community in the social sector. At Rooting, we network, strengthen relationships, break bread, and reflect with one another on what it takes to be well and work for a more just MN. 3. Power-Shifting Solidarity: We facilitate, support, and inspire the philanthropic, non-profit, and social impact field to be in power-shifting solidarity to realize the promise of racial justice. We partner with renowned organizations to advance systems change through data, relationships, and networks. In November 2024, the Collective launched the MN LEAD initiative, a multiracial effort to build a strong, interconnected ecosystem that proactively addresses legal challenges to race-conscious grantmaking, programs, and activities. MN LEAD will help shape narratives, provide education, and support strategic efforts for racial justice for nonprofit organizations throughout MN.

    Expenses $1,553,160 · Grants $1,049,892

As filed on the 2024 return.

Listed in Part VII

  • Lulete Mola

    Secretary, President, Co-Founder & Corp Member

    Total calculated
    $193,255
    From this org
    $170,054
    From related orgs
    $0
    Other
    $23,201
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,054
    Bonus
    $0
    Other
    $0
    Deferred
    $5,306
    Nontaxable benefits
    $17,895
    Filer's total
    $193,255

  • Chanda Smith Baker

    Treasurer (Jan-Mar), Corp Member

    Total calculated
    $73,700
    From this org
    $73,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Shawntera Hardy

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Rachel Hardeman

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Repa Mekha

    Chair (Jan-Mar), Corp Member

    Total calculated
    $0
    Hours/week
    2

  • Aretha Green-Rupert

    Chair/Secretary

    Total calculated
    $0
    Hours/week
    2

  • Jai Winston

    Treasurer

    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. 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 · 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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2024
Filed
2 June 2025
IRS schema version
2024v5.0
Source object
202522109349300107

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

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