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Nonprofiteer
← MINDS MATTER

Form 990 for tax year 2023

Filed by MINDS MATTER.

Totals

Total revenue
$446,972
Total expenses
$328,744
Contributions and grants received
$426,502
Grants paid
$93,552
Program service revenue
$0
Investment income
$20,413
Other revenue
$57
Total assets, end of year
$817,023
Total liabilities, end of year
$10,576
Net assets or fund balances, end of year
$806,447
Program services expenses (Part IX)
$275,538
Management and general expenses
$53,206
Fundraising expenses
$0
Program service expenses (Part III)
$275,538

Program services were 83.8% 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

    $93,239

  • 1f · All other contributions, gifts and grants

    $333,263

  • 3 · Investment income

    total $20,413 · excluded $20,413

  • 8a · Fundraising events: gross income

    $6,484

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

    $93,239

  • 8b · Fundraising events: direct expenses

    $6,484

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $57 · excluded $57

  • 11e · Other revenue, total

    $57

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $93,552 · program services $93,552

  • 5 · Compensation of officers, directors and key employees

    total $70,740 · program services $35,370 · management and general $35,370

  • 7 · Other salaries and wages

    total $83,693 · program services $83,693

  • 10 · Payroll taxes

    total $13,407 · program services $8,495 · management and general $4,912

  • 12 · Advertising and promotion

    total $108 · management and general $108

  • 13 · Office expenses

    total $12,816 · management and general $12,816

  • 17 · Travel

    total $23,446 · program services $23,446

  • 24a · Other expenses: PROGRAM SUPPLIES

    total $13,197 · program services $13,197

  • 24b · Other expenses: LICENSING FEE - MINDS M

    total $9,200 · program services $9,200

  • 24c · Other expenses: FOOD AND MEALS

    total $8,585 · program services $8,585

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $158,207 · end of year $222,547

  • 2 · Savings and temporary cash investments

    beginning of year $509,654 · end of year $504,476

  • 4 · Accounts receivable

    beginning of year $35,000 · end of year $90,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $578

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,220 · end of year $10,576

  • 27 · Net assets without donor restrictions

    beginning of year $688,219 · end of year $736,447

  • 28 · Net assets with donor restrictions

    end of year $70,000

Mission and programs · 2023

Mission

MINDS MATTER CONNECTS DRIVEN AND DETERMINED STUDENTS FROM LOW-INCOME FAMILIES WITH THE PEOPLE, PREPARATION, AND POSSIBILITIES TO SUCCEED IN COLLEGE, CREATE THEIR FUTURE, AND CHANGE THE WORLD.

  • THE OBJECTIVE OF THE SOPHOMORE AND JUNIOR PROGRAMS IS TO ASSIST HIGH SCHOOL SOPHOMORES AND JUNIORS IN GAINING ADMISSION TO COMPETITIVE SUMMER COLLEGE PREPARATORY PROGRAMS IN THE U.S. AND ABROAD. IN ADDITION TO OFFERING A RIGOROUS ACADEMIC CURRICULUM, THIS PROGRAM EMPOWERS STUDENTS WITH A SENSE OF INDEPENDENCE, TEACHES TIME MANAGEMENT SKILLS, HELPS DEVELOP NEW FRIENDSHIPS WITH OTHER STUDENTS FROM DIVERSE BACKGROUNDS AND PROVIDES A NEW PERSPECTIVE ON THE WORLD.STUDENTS ARE ACCEPTED INTO THE SOPHOMORE PROGRAM BASED ON A RIGOROUS AND HIGHLY COMPETITIVE APPLICATION PROCESS, WHICH INCLUDES ACADEMIC CREDENTIALS, FINANCIAL CRITERIA, PERSONAL ESSAYS, GUIDANCE COUNSELOR AND TEACHER RECOMMENDATIONS AND AN INTERVIEW.THE JUNIOR PROGRAM ENROLLS PREVIOUSLY SUCCESSFUL SOPHOMORE PROGRAM STUDENTS AND OCCASIONALLY ACCEPTS NEW STUDENTS BASED ON A RIGOROUS AND HIGHLY COMPETITIVE APPLICATION PROCESS WHICH INCLUDES ACADEMIC CREDENTIALS, FINANCIAL CRITERIA, PERSONAL ESSAYS, GUIDANCE COUNSELOR AND TEACHER RECOMMENDATIONS AND AN INTERVIEW.STUDENTS ARE ASSIGNED A PAIR OF MENTORS WITH WHOM THEY MEET WEEKLY THROUGHOUT THE SCHOOL YEAR. MENTORS WORK WITH THEIR STUDENTS DURING SESSIONS TO SELECT SUMMER PROGRAMS, PREPARE APPLICATIONS, CREATE PERSONAL STATEMENTS AND ESSAYS, REQUEST LETTERS OF RECOMMENDATION, AND COMPLETE FINANCIAL AID PAPERWORK. STUDENTS ALSO IMPROVE THEIR BASIC ACADEMIC SKILLS AND TEST TAKING STRATEGIES FOR THE S.A.T. THROUGH THE TEST PREP PROGRAM AND IMPROVE THEIR WRITING, LOGIC AND REASONING, PRESENTATION SKILLS AND UNDERSTANDING OF CURRENT EVENTS THROUGH THE WRITING AND CRITICAL THINKING PROGRAM. ADDITIONALLY, STUDENTS PARTICIPATE IN SPECIAL WORKSHOPS, PANEL DISCUSSIONS AND FIELD TRIPS, OFTEN TEAMING UP WITH THE SENIOR PROGRAM TO LEARN MORE ABOUT THE COLLEGE ADMISSIONS PROCESS. AFTER A STUDENT IS ADMITTED TO A SUMMER PROGRAM AND AWARDED A FINANCIAL AID PACKAGE, MINDS MATTER PROVIDES AS MUCH FINANCIAL ASSISTANCE AS IS NEEDED TO SUPPLEMENT THE SCHOOL'S AWARD.STUDENTS WHO SUCCESSFULLY COMPLETE THE JUNIOR PROGRAM ARE INVITED TO APPLY FOR THE SENIOR PROGRAM. THE PROGRAM MEETS WEEKLY THROUGHOUT THE SCHOOL YEAR AND AGGRESSIVELY LEADS STUDENTS THROUGH THE COLLEGE APPLICATION PROCESS. MOST STUDENTS RETAIN THEIR MENTORS FROM THE JUNIOR PROGRAM, ENHANCING THE FOUNDATION FOR STRONG FRIENDSHIPS THAT OFTEN CONTINUE AFTER THE STUDENT GRADUATES HIGH SCHOOL.THE SENIOR PROGRAM GUIDES STUDENTS THROUGH THE ENTIRE COLLEGE APPLICATION PROCESS BY PROVIDING TRAINING IN COLLEGE SELECTION, ESSAY WRITING, INTERVIEWING AND FINANCIAL AID. SINCE ITS INCEPTION IN 1996 IN NEW YORK, THE SENIOR PROGRAM HAS EXPANDED ITS GOALS TO ADDRESS NOT ONLY GAINING ADMISSION TO COLLEGE BUT ALSO SUCCEEDING ONCE THERE. PROGRAM SUCCESSFULLY PREPARES TALENTED YOUTH TO MAKE THE MOST OF THEIR UNDRGRADUATE EXPERIENCE BY BUILDING THIER ORGANIZATIONAL AND COMMUNICATIONS SKILLS. WITH THE ADDITION OF PROGRAMMING THAT EDUCATES SENIORS ON SELECTING A MAJOR, ADAPTING TO COLLEGE LIFE, CHOOSING A CAREER PATH AND INTERVIEWING FOR INTERNSHIPS AND JOBS, THE SENIOR PROGRAM HAS EVOLVED INTO A COMPREHENSIVE GUIDE TO SUCCEEDING IN COLLEGEAND BEYOND. THE MAJORITY OF OUR SENIOR PROGRAM STUDENTS RECEIVE GENEROUS FINANCIAL AID PACKAGES FROM SCHOOLS BASED ON THEIR ACADEMIC ACHIEVEMENTS AND FINANCIAL NEED. IN CASE IN WHICH A STUDENT DOES NOT RECEIVE ADEQUATE FINANCIAL ASSISTANCE FROM HIS/HER COLLEGE OF CHOICE, MINDS MATTER HELPS THE STUDENT AND HIS/HER FAMILY NEGOTIATE A MORE GENEROUS AWARD AND DETERMINE FINANICAL AID OPTIONS. MINDS MATTER ALSO PROVIDES A STIPEND TO EACH STUDENT WHO SUCCESSFULLY COMPLETES THE SENIOR PROGRAM. 100% OF MINDS MATTER GRADUATES HAVE BEEN ACCEPTED AT A 4 YEAR COLLEGE OR UNIVERSITY.

    Expenses $275,538 · Grants $93,552

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

Listed in Part VII

  • GRAHAM COVINGTON

    CHAIR

    Total calculated
    $0
    Hours/week
    10

  • SEAN WALLACE

    TREASURER

    Total calculated
    $0
    Hours/week
    10

  • CAROLYN BECIC

    SECRETARY

    Total calculated
    $0
    Hours/week
    10

  • TIMOTHY WRIGHT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • DR MICHAEL DEVAUGHN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • ANJENE BRYANT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • JESSICA YU

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • KRISMIN BELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • REED HARRISON

    ED

    Total calculated
    $69,180
    From this org
    $69,180
    From related orgs
    $0
    Other
    $0
    Hours/week
    30

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

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
3 April 2025
IRS schema version
2023v6.0
Source object
202500939349301425

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