Form 990 for tax year 2022
Filed by FOUNDATION FOR MINORITY INTERESTS IN MEDIA INC.
Totals
- Total revenue
- $2,056,480
- Total expenses
- $2,183,145
- Contributions and grants received
- $1,832,439
- Grants paid
- $359,306
- Program service revenue
- $0
- Investment income
- $69,204
- Other revenue
- $154,837
- Total assets, end of year
- $3,660,149
- Total liabilities, end of year
- $102,350
- Net assets or fund balances, end of year
- $3,557,799
- Program services expenses (Part IX)
- $1,944,182
- Management and general expenses
- $238,963
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,944,182
Program services were 89.1% 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
$1,832,439
-
3 · Investment income
total $104,013 · related or exempt $106 · excluded $103,907
-
7a · Gross sales of assets other than inventory
securities $374,045
-
7b · Less cost or other basis and sales expenses
securities $408,854
-
7c · Gain or loss
securities -$34,809
-
7d · Net gain or loss
total -$34,809 · related or exempt -$34,809
-
11a · Other revenue: EMPLOYEE RETENTION CREDIT
total $154,837 · excluded $154,837
-
11e · Other revenue, total
$154,837
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $359,306 · program services $359,306
-
5 · Compensation of officers, directors and key employees
total $490,990 · program services $417,341 · management and general $73,649
-
7 · Other salaries and wages
total $520,670 · program services $442,569 · management and general $78,101
-
8 · Pension plan contributions
total $56,229 · program services $47,795 · management and general $8,434
-
9 · Other employee benefits
total $101,499 · program services $86,274 · management and general $15,225
-
10 · Payroll taxes
total $71,452 · program services $60,734 · management and general $10,718
-
11c · Fees: accounting
total $21,830 · management and general $21,830
-
11f · Fees: investment management
total $16,460 · management and general $16,460
-
13 · Office expenses
total $69,630 · program services $62,667 · management and general $6,963
-
17 · Travel
total $14,247 · program services $14,247
-
23 · Insurance
total $7,806 · program services $4,293 · management and general $3,513
-
24a · Other expenses: CONSULTANTS
total $187,707 · program services $187,707
-
24b · Other expenses: STUDENT CONFERENCES
total $160,807 · program services $160,807
-
24c · Other expenses: BOOKKEEPING AND ACCOUNTIN
total $78,972 · program services $78,972
-
24d · Other expenses: DUES AND SUBSCRIPTIONS
total $23,856 · program services $21,470 · management and general $2,386
-
24e · All other expenses
total $1,684 · management and general $1,684
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $100
-
2 · Savings and temporary cash investments
beginning of year $1,871,206 · end of year $739,077
-
3 · Pledges and grants receivable
beginning of year $70,500 · end of year $51,000
-
7 · Other notes and loans receivable
end of year $154,837
-
11 · Investments: publicly traded securities
beginning of year $2,282,923 · end of year $2,715,235
-
17 · Accounts payable and accrued expenses
beginning of year $104,124 · end of year $102,350
-
27 · Net assets without donor restrictions
beginning of year $4,013,647 · end of year $3,476,160
-
28 · Net assets with donor restrictions
beginning of year $106,958 · end of year $81,639
Mission and programs · 2022
Mission
THE CHIEF OBJECTIVE OF THE FOUNDATION FOR MINORITY INTERESTS IN MEDIA, INC IS TO CONDUCT ACTIVITIES WHICH ARE EXCLUSIVELY CHARITABLE AND EDUCATIONAL WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, FOR THE PURPOSE OF EDUCATING AND MENTORING INDIVIDUALS OF COLOR IN THE FIELD OF COMMUNICATIONS LEADING TO EMPLOYMENT OPPORTUNITIES IN THE COMMUNCATIONS INDUSTRY.
-
THE FOUNDATION FOR MINORITY INTERESTS IN MEDIA CONDUCTS SEVERAL CONFERENCES DURING THE YEAR, BOTH ON A NATIONAL AND REGIONAL BASIS, GIVING FOUNDATION STUDENTS THE OPPORTUNITY FOR PEER AND EXECUTIVE NETWORKING, PROFESSIONAL DEVELOPMENT AND ACCESS TO INFORMATION ON TRENDS AND ISSUES IN THE MEDIA INDUSTRY.
Expenses $160,807
-
THE FOUNDATION ASSISTS STUDENTS WITH EDUCATION COSTS THROUGH ITS STUDENT SPONSORSHIP PROGRAM. THIS IS A NEED BASED PROGRAM. IN ADDITION, THE FOUNDATION HAS A WORK/STUDY PROGRAM THAT INCLUDES A COMPONENT FOR SCHOLARSHIPS. THIS PROGRAM PROVIDES,FINANCIAL ASSISTANCE TO STUDENTS ACTIVELY PARTICIPATING IN THE PROGRAM WHO MEET ACADEMIC AND PERFORMANCE REQUIREMENTS.
Expenses $232,000 · Grants $232,000
-
THE PURPOSE OF THE SPONSORSHIP PROGRAM AWARDS ARE TO PROVIDE GRANTS TO PARTICIPATING EMPLOYERS TO PARTIALLY SUBIDIZE COSTS OF EMPLOYING STUDENT INTERNS.
Expenses $127,306 · Grants $127,306
-
OTHER PROGRAM SERVICES.
Expenses $1,424,069
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Nikki BethelNIKKI BETHEL
CEO
- Total calculated
- $201,125
- From this org
- $201,125
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $201,125
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $201,125
-
Michael G BarhamMICHAEL G BARHAM
COO
- Total calculated
- $153,125
- From this org
- $153,125
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $153,125
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $153,125
-
Ayia GospodinovaAYIA GOSPODINOVA
VP BUSINESS
- Total calculated
- $136,740
- From this org
- $136,740
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
-
Robert ApterROBERT APTER
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Niija KuykendallNIIJA KUYKENDALL
VICE CHAIRWO
- Total calculated
- $0
- Hours/week
- 2
-
Christopher LammersCHRISTOPHER LAMMERS
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
William StrahamWILLIAM STRAHAM
CHAIRMAN
- 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
None.
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
- 2022
- Filed
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303199349305410
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