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Nonprofiteer
← MALCOLM JENKINS FOUNDATION

Form 990 for tax year 2023

Filed by MALCOLM JENKINS FOUNDATION.

Totals

Total revenue
$268,820
Total expenses
$276,122
Contributions and grants received
$274,827
Grants paid
$102,250
Program service revenue
$0
Investment income
$0
Other revenue
-$6,007
Total assets, end of year
$58,707
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$58,707
Program services expenses (Part IX)
$148,364
Management and general expenses
$127,758
Fundraising expenses
$0
Program service expenses (Part III)
$148,364

Program services were 53.7% 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

    $274,827

  • 1g · Noncash contributions included above

    $3,450

  • 8a · Fundraising events: gross income

    $4,463

  • 8b · Fundraising events: direct expenses

    $10,470

  • 8c · Net income from fundraising events

    total -$6,007 · excluded -$6,007

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $102,250 · program services $102,250

  • 12 · Advertising and promotion

    total $6,444 · management and general $6,444

  • 13 · Office expenses

    total $5,193 · management and general $5,193

  • 14 · Information technology

    total $79,335 · management and general $79,335

  • 16 · Occupancy

    total $9,883 · management and general $9,883

  • 17 · Travel

    total $2,673 · management and general $2,673

  • 22 · Depreciation, depletion and amortization

    total $1,482 · management and general $1,482

  • 23 · Insurance

    total $3,528 · management and general $3,528

  • 24a · Other expenses: HOLIDAY DINNER SURPRISE

    total $25,136 · program services $25,136

  • 24b · Other expenses: LITERACY PROGRAM

    total $19,948 · program services $19,948

  • 24c · Other expenses: OTHER MANAGEMENT EXPENS

    total $19,220 · management and general $19,220

  • 24d · Other expenses: CHARITABLE DONATIONS

    total $1,030 · program services $1,030

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $61,957 · end of year $56,137

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

    $9,959

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

    $9,189

  • 10c · Land, buildings and equipment, net

    beginning of year $2,252 · end of year $770

  • 15 · Other assets

    beginning of year $1,800 · end of year $1,800

  • 27 · Net assets without donor restrictions

    beginning of year $66,009 · end of year $58,707

Mission and programs · 2023

Mission

THE CORPORATION'S MISSION IS TO EFFECTUATE POSITIVE CHANGE IN THE LIVES OF YOUTH, PARTICULARLY THOSE IN UNDERSERVED COMMUNITIES.

  • APRIL 2023CLOSING THE WEALTH GAP FINANCIAL LITERACY THE MALCOLM JENKINS MONEY VEHICLE LLC (MV) LAUNCH PARTNERSHIP TO BRING AN ENHANCED FINANCIAL LITERACY CURRICULUM TO EMPOWER HIGH SCHOOL STUDENTS IN PHILADELPHIA, PA, NEWARK, NJ AS PART OF ITS "CLOSING THE WEALTH GAP" EDUCATION INITIATIVE. THE PARTNERSHIP STRENGTHS THE IMPACT OF THE MALCOLM JENKINS FOUNDATION'S FINANCIAL LITERACY PROGRAMMING WITH A 12-WEEK IN-CLASS CURRICULUM POWERED BY MONEY VEHICLE THAT SUPPORTS TEACHER INSTRUCTION AND PROFESSIONAL DEVELOPMENT AND EMPOWERS STUDENT LEARNING AND APPLICATION.

    Expenses $19,948 · Revenue $15,603

  • NOVEMBER 2023MALCOLM JENKINS VISIONARY IMPACT SCHOLARSHIP - THE MALCOLM JENKINS FOUNDATION ESTABLISHED THE MALCOLM JENKINS VISIONARY IMPACT SCHOLARSHIP WITH $102,250 TO INSPIRE STUDENTS TO BECOME VISIONARY LEADERS, CATALYZING IMPACTFUL CHANGE WITHIN THE OHIO STATE COMMUNITY AND SOCIETY AS A WHOLE. THIS AMOUNT WAS MATCHED THROUGH THE UNIVERSITY'S SCARLET AND GRAY ADVANTAGE PROGRAM, WHICH MATCHES ANY DONOR COMMITMENTS THAT MEET THE UNIVERSITY THRESHOLD TO ESTABLISH A NEW ENDOWED SCHOLARSHIP. EACH YEAR, MALCOLM JENKINS VISIONARY IMPACT SCHOLARSHIP FUND WILL PROVIDE ONE OR MORE SCHOLARSHIPS TO RISING SECOND-YEAR UNDERGRADUATE STUDENTS WHO ARE ENROLLED IN THE COLLEGE OF ENGINEERING, ARE PARTICIPATING IN THE COMMUNITY, ACCESS, RETENTION AND EMPOWERMENT (CARE) OFFICE PROGRAMS AND WHO MEET ONE OR MORE OF THE FOLLOWING CRITERIA: ARE FIRST-GENERATION COLLEGE STUDENTS; DEMONSTRATE FINANCIAL NEED; HAVE OVERCOME SUBSTANTIAL EDUCATIONAL OR ECONOMIC OBSTACLES. THE FUND ALSO PROVIDES ONE OR MORE SCHOLARSHIPS TO RISING SECOND-YEAR UNDERGRADUATE STUDENTS WHO ARE PARTICIPATING IN OHIO STATE'S OFFICE OF DIVERSITY AND INCLUSION PROGRAMS AND MEET ONE OR MORE OF THE SAME CRITERIA.

    Expenses $102,250 · Grants $102,250 · Revenue $100,000

  • DEC 2023HOLIDAY DINNER BASKET SURPRISE - THE MALCOLM JENKINS FOUNDATION SPREAD HOLIDAY CHEER IN NEWARK, NJ BY TEAMING UP WITH (11) ELEVEN SOCIAL SERVICES AGENCIES, STUDENTS OF KIPP NEWARK COLLEGIATE ACADEMY AND ITS TEAM OF VOLUNTEERS TO PROVIDE TURKEYS AND ALL THE TRIMMINGS TO 155 FAMILIES (IMPACTING APPROXIMATELY 900 INDIVIDUALS) ALONG WITH GIFTS OF TOYS FOR CHILDREN OF EACH FAMILY. THE HOLIDAY DINNER BASKET SURPRISE INITIATIVE AIMS TO COMBAT FOOD INSECURITY DURING THE HOLIDAY SEASON.

    Expenses $25,136

  • OTHER

    Expenses $1,030

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

Listed in Part VII

  • Rodney C Braxton

    PARLIAMENTARIAN

    Total calculated
    $0
    Hours/week
    1

  • Malcolm Jenkins

    FOUNDER & CHAIRMAN

    Total calculated
    $0
    Hours/week
    4

  • Gwendolyn V Jenkins

    PRESIDENT & CEO

    Total calculated
    $0
    Hours/week
    56

  • Loyce Pierce Wright

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Pamela Lyles

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

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 OHIO STATE UNIVERSITY FOUNDATION

    $102,250

    MALCOLM JENKINS VISIONARY IMPACT SCHOLARSHIP FUND WILL PROVIDE ONE OR MORE SCHOLARSHIPS TO RISING SECOND-YEAR UNDERGRADUATE STUDENTS WHO ARE ENROLLED IN THE COLLEGE OF ENGINEERING, ARE PARTICIPATING IN THE COMMUNITY, ACCESS, RETENTION AND EMPOWERMENT (CARE) OFFICE PROGRAMS AND WHO MEET ONE OR MORE OF THE FOLLOWING CRITERIA: ARE FIRST-GENERATION COLLEGE STUDENTS; DEMONSTRATE FINANCIAL NEED; HAVE OVERCOME SUBSTANTIAL EDUCATIONAL OR ECONOMIC OBSTACLES. THE FUND ALSO PROVIDES ONE OR MORE SCHOLARSHIPS TO RISING SECOND-YEAR UNDERGRADUATE STUDENTS WHO ARE PARTICIPATING IN OHIO STATE'S OFFICE OF DIVERSITY AND INCLUSION PROGRAMS AND MEET ONE OR MORE OF THE SAME CRITERIA. THE ANTICIPATED ANNUAL DISTRIBUTION WILL BE BETWEEN $9,000 - $9,500. THE FIRST SCHOLARSHIPS ARE SCHEDULED TO BE AWARDED SPRING SEMESTER 2024. THE STUDENT WILL BE SELECTED BY THE SCHOLARSHIP AWARDING TEAM.

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202443199349310989

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