Form 990 for tax year 2023
Filed by R MERLE PALMER MINORITY SCHOLARSHIP FOUNDATION.
Totals
- Total revenue
- $1,600,695
- Total expenses
- $1,625,271
- Contributions and grants received
- $1,587,074
- Grants paid
- $300,887
- Program service revenue
- $21,530
- Investment income
- $38,649
- Other revenue
- -$46,558
- Total assets, end of year
- $1,746,552
- Total liabilities, end of year
- $28,226
- Net assets or fund balances, end of year
- $1,718,326
- Program services expenses (Part IX)
- $1,254,497
- Management and general expenses
- $147,517
- Fundraising expenses
- $223,257
- Program service expenses (Part III)
- $1,254,497
Program services were 77.2% 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.
-
1c · Fundraising events
$121,359
-
1e · Government grants (contributions)
$586,599
-
1f · All other contributions, gifts and grants
$879,116
-
2a · Program service revenue: CONTRACTS REVENUE
total $21,530 · related or exempt $21,530
-
3 · Investment income
total $33,038 · excluded $33,038
-
7a · Gross sales of assets other than inventory
securities $5,611
-
7b · Less cost or other basis and sales expenses
securities $0
-
7c · Gain or loss
securities $5,611
-
7d · Net gain or loss
total $5,611 · excluded $5,611
-
8a · Fundraising events: gross income
$0
-
8a · Fundraising events: contributions included on line 1c
$121,359
-
8b · Fundraising events: direct expenses
$47,551
-
8c · Net income from fundraising events
total -$47,551 · excluded -$47,551
-
11a · Other revenue: MISCELLANEOUS REVENUE
total $993 · excluded $993
-
11e · Other revenue, total
$993
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $300,887 · program services $300,887
-
5 · Compensation of officers, directors and key employees
total $190,403 · program services $128,073 · management and general $35,207 · fundraising $27,123
-
7 · Other salaries and wages
total $609,223 · program services $462,869 · management and general $38,325 · fundraising $108,029
-
8 · Pension plan contributions
total $3,055 · program services $2,121 · fundraising $934
-
9 · Other employee benefits
total $79,409 · program services $51,056 · management and general $9,185 · fundraising $19,168
-
10 · Payroll taxes
total $62,251 · program services $46,074 · management and general $5,623 · fundraising $10,554
-
11b · Fees: legal
total $1,958 · management and general $1,958
-
11c · Fees: accounting
total $5,410 · management and general $5,410
-
11e · Fees: professional fundraising services
total $35,645 · fundraising $35,645
-
11f · Fees: investment management
total $6,925 · management and general $6,925
-
11g · Fees: other
total $12,794 · management and general $12,794
-
12 · Advertising and promotion
total $36,179 · program services $24,010 · management and general $2,930 · fundraising $9,239
-
13 · Office expenses
total $21,910 · program services $14,560 · management and general $2,969 · fundraising $4,381
-
14 · Information technology
total $29,844 · program services $22,088 · management and general $2,696 · fundraising $5,060
-
17 · Travel
total $1,202 · management and general $1,202
-
19 · Conferences, conventions and meetings
total $6,410 · program services $4,744 · management and general $579 · fundraising $1,087
-
22 · Depreciation, depletion and amortization
total $12,013 · program services $8,891 · management and general $1,085 · fundraising $2,037
-
23 · Insurance
total $6,149 · management and general $6,149
-
24a · Other expenses: PROGRAM EXPENSE-SCHOLAR
total $136,379 · program services $136,379
-
24b · Other expenses: STAFF TRAINING
total $33,667 · program services $33,667
-
24c · Other expenses: PROGRAM EXPENSE-MENTOR
total $19,078 · program services $19,078
-
24d · Other expenses: BAD DEBT EXPENSE
total $13,802 · management and general $13,802
-
24e · All other expenses
total $678 · management and general $678
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $347,698 · end of year $188,020
-
3 · Pledges and grants receivable
beginning of year $197,239 · end of year $337,358
-
9 · Prepaid expenses and deferred charges
beginning of year $20,904 · end of year $30,684
-
10a · Land, buildings and equipment: cost or other basis
$79,006
-
10b · Land, buildings and equipment: accumulated depreciation
$39,365
-
10c · Land, buildings and equipment, net
beginning of year $47,795 · end of year $39,641
-
11 · Investments: publicly traded securities
beginning of year $365,193 · end of year $399,258
-
15 · Other assets
beginning of year $702,765 · end of year $751,591
-
17 · Accounts payable and accrued expenses
beginning of year $19,983 · end of year $28,226
-
27 · Net assets without donor restrictions
beginning of year $873,010 · end of year $828,735
-
28 · Net assets with donor restrictions
beginning of year $788,601 · end of year $889,591
Mission and programs · 2023
Mission
SEE SCHEDULE O.
-
THE ORGANIZATION PROVIDED SCHOLARSHIPS AND MENTORING SERVICES TO 225 STUDENTS DURING THE YEAR ENDED JUNE 30, 2024.
Expenses $1,254,497 · Grants $300,887 · Revenue $21,530
As filed on the 2023 return.
Listed in Part VII
-
Amala PerezAMALA PEREZ
PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Marissa RathboneMARISSA RATHBONE
IMMEDIATE PAST PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Kacee WoodsKACEE WOODS
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Brett FreshwatersBRETT FRESHWATERS
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Kim GreenKIM GREEN
AT-LARGE
- Total calculated
- $0
- Hours/week
- 2
-
Christal HarrisonCHRISTAL HARRISON
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Steve SchainSTEVE SCHAIN
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Stephanie WilliamsSTEPHANIE WILLIAMS
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Kidane YohannesKIDANE YOHANNES
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Heather CurlHEATHER CURL
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Alex DavisALEX DAVIS
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Jeankie AczonJEANKIE ACZON
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Sandra CalvilloSANDRA CALVILLO
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Brendan NelsonBRENDAN NELSON
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Logan Noel-EndresLOGAN NOEL-ENDRES
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Jonathan JacksonJONATHAN JACKSON
CEO(THROUGH 12/2023)
- Total calculated
- $165,962
- From this org
- $154,173
- From related orgs
- $0
- Other
- $11,789
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $154,173
- Bonus
- $0
- Other
- $0
- Deferred
- $4,625
- Nontaxable benefits
- $7,164
- Filer's total
- $165,962
-
Denise Nicole FranklinDENISE NICOLE FRANKLIN
INTERIM CEO (12/23-05/24)
- Total calculated
- $101,096
- From this org
- $92,592
- From related orgs
- $0
- Other
- $8,504
- 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 survey or study
- 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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 16 October 2025
- IRS schema version
- 2023v6.0
- Source object
- 202542909349300609
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