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Nonprofiteer
← MBA OPENS DOORS FOUNDATION

Form 990 for tax year 2023

Filed by MBA OPENS DOORS FOUNDATION.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2023 , filed 13 May 2025. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$4,332,982 changed to $5,105,590
Contributions and grants received
$4,211,084 changed to $4,983,692
Total assets, end of year
$6,821,016 changed to $7,593,624
Net assets or fund balances, end of year
$6,813,496 changed to $7,586,104

Totals

Total revenue
$4,332,982
Total expenses
$2,870,425
Contributions and grants received
$4,211,084
Grants paid
$2,835,922
Program service revenue
$0
Investment income
$121,898
Other revenue
$0
Total assets, end of year
$6,821,016
Total liabilities, end of year
$7,520
Net assets or fund balances, end of year
$6,813,496
Program services expenses (Part IX)
$2,835,922
Management and general expenses
$80
Fundraising expenses
$34,423
Program service expenses (Part III)
$2,835,922

Program services were 98.8% 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.

  • 1f · All other contributions, gifts and grants

    $4,211,084

  • 1g · Noncash contributions included above

    $41,133

  • 3 · Investment income

    total $118,061 · excluded $118,061

  • 7a · Gross sales of assets other than inventory

    securities $491,000

  • 7b · Less cost or other basis and sales expenses

    securities $487,163

  • 7c · Gain or loss

    securities $3,837

  • 7d · Net gain or loss

    total $3,837 · excluded $3,837

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $2,835,922 · program services $2,835,922

  • 11f · Fees: investment management

    total $80 · management and general $80

  • 13 · Office expenses

    total $34,423 · fundraising $34,423

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,005,351 · end of year $987,876

  • 2 · Savings and temporary cash investments

    beginning of year $2,319,200 · end of year $1,128,094

  • 3 · Pledges and grants receivable

    beginning of year $1,738,380 · end of year $1,754,494

  • 9 · Prepaid expenses and deferred charges

    beginning of year $211,180 · end of year $214,049

  • 11 · Investments: publicly traded securities

    end of year $2,710,212

  • 12 · Investments: other securities

    beginning of year $13,279

  • 15 · Other assets

    beginning of year $22,480 · end of year $26,291

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,507 · end of year $7,520

  • 25 · Other liabilities

    beginning of year $570 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $5,299,793 · end of year $6,813,496

Mission and programs · 2023

Mission

THE PURPOSE OF THE CORPORATION IS TO CREATE AND DELIVER PROGRAMS THAT PROVIDE CHARITABLE ASSISTANCE TO FAMILIES WITH CRITICALLY ILL OR INJURED CHILDREN FOR THE PURPOSE OF AIDING IN THE SECURITY OF THEIR HOMES.

Activities or mission (Part I)

THE PURPOSE OF THE CORPORATION IS TO CREATE AND DELIVER PROGRAMS THAT PROVIDE ASSISTANCE TO FAMILIES WITH CRITICALLY ILL OR INJURED CHILDREN FOR THE PURPOSE OF AIDING IN THE SECURITY OF THEIR HOMES. IN FURTHERANCE OF THESE PURPOSES, THE CORPORATION: (A) SHALL DEVELOP AND PROMOTE PHILANTHROPIC PROGRAMS AIMED AT THESE AREAS; AND (B) MAY CARRY ON ANY AND ALL LAWFUL ACTIVITIES RELATED THERETO, ALLOWED UNDER THE ACT, WHETHER OR NOT STATED HEREIN.

  • MBA OPENS DOORS FOUNDATION (ODF) WAS CREATED TO SPONSOR PHILANTHROPIC ACTIVITIES FOCUSED ON HELPING FAMILIES MAINTAIN THEIR HOMES, AS WELL AS TO PROVIDE CHARITABLE SUPPORT. ODF'S FIRST INITIATIVE MAKES MORTGAGE AND RENTAL ASSISTANCE PAYMENT GRANTS TO PARENTS AND GUARDIANS WITH CRITICALLY ILL OR INJURED CHILDREN, ALLOWING THEM TO TAKE UNPAID LEAVE FROM WORK AND SPEND PRECIOUS TIME TOGETHER WITHOUT JEOPARDIZING THEIR CHERISHED HOMES.THE MBA OPENS DOORS FOUNDATION MORTGAGE AND RENTAL GRANT ASSISTANCE INITIATIVE IS A PROGRAM BY WHICH DESIGNATED HEALTH CARE PROVIDERS IDENTIFY AND PROVIDE HOME GRANT PROGRAM INFORMATION TO FAMILIES THAT MAY BENEFIT FROM FINANCIAL SUPPORT.THE MBA OPENS DOORS FOUNDATION (ODF):- IDENTIFIES AND FACILITATES THE DESIGNATION OF ADDITIONAL HEALTHCARE PROVIDERS.- ESTABLISHED ITS FIRST DESIGNATED HEALTH CARE PROVIDER IN THE WASHINGTON, DC METROPOLITAN AREA: THE CHILDREN'S NATIONAL MEDICAL CENTER. SINCE ESTABLISHING ITS RELATIONSHIP WITH CHILDREN'S NATIONAL MEDICAL CENTER, THE FOUNDATION HAS DESIGNATED 12 MORE HEALTH CARE PROVIDERS AROUND THE COUNTRY AND IS CURRENTLY RECEIVING GRANTS FROM 13 PROVIDERS FOR THE CURRENT REPORTING PERIOD.

    Expenses $2,835,922 · Grants $2,835,922

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

Listed in Part VII

  • Robert D Broeksmit

    ODF DIRECTOR, MBA PRESIDENT

    Total calculated
    $2,216,614
    From this org
    $0
    From related orgs
    $2,009,201
    Other
    $207,413
    Hours/week
    0.3 + 34.7 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,335,752 related
    Bonus
    $0 + $648,441 related
    Other
    $0 + $25,008 related
    Deferred
    $0 + $157,300 related
    Nontaxable benefits
    $0 + $50,113 related
    Filer's total
    $0 + $2,216,614 related

  • Marcia M Davies

    ODF DIRECTOR, MBA COO

    Total calculated
    $955,446
    From this org
    $0
    From related orgs
    $899,080
    Other
    $56,366
    Hours/week
    0.3 + 34.7 related

    Schedule J breakdown matched by us

    Base
    $0 + $648,016 related
    Bonus
    $0 + $225,000 related
    Other
    $0 + $26,064 related
    Deferred
    $0 + $19,800 related
    Nontaxable benefits
    $0 + $36,566 related
    Filer's total
    $0 + $955,446 related

  • Debra Still

    ODF CHAIR

    Total calculated
    $0
    Hours/week
    0.3

  • Andrew Bon Salle

    ODF DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Jean Bradley

    ODF DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Christine Chandler

    ODF DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • James M Deitch

    ODF DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Laura Escobar

    ODF DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Kristy Fercho

    ODF DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Karen Fratantoni

    ODF DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Christopher M George

    ODF DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Debby L Jenkins

    ODF DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Mark A Jones

    ODF DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • J David Motley

    ODF DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Kurt Pfotenhauer

    ODF DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Matthew G Rocco Sr

    ODF DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Lamia Soghier

    ODF DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Susan T Stewart

    ODF DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Brian F Stoffers

    ODF DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Jeffrey Taylor

    ODF DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Richard G Thornberry

    ODF DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Lisa J Haynes

    ODF TREASURER

    Total calculated
    $497,269
    From this org
    $0
    From related orgs
    $439,618
    Other
    $57,651
    Hours/week
    0.3 + 34.7 related

    Schedule J breakdown matched by us

    Base
    $0 + $364,796 related
    Bonus
    $0 + $50,000 related
    Other
    $0 + $24,822 related
    Deferred
    $0 + $19,800 related
    Nontaxable benefits
    $0 + $37,851 related
    Filer's total
    $0 + $497,269 related

  • Michael Briggs

    ODF SECRETARY & GENERAL COUNSEL

    Total calculated
    $434,710
    From this org
    $0
    From related orgs
    $396,068
    Other
    $38,642
    Hours/week
    0.3 + 34.7 related

    Schedule J breakdown matched by us

    Base
    $0 + $357,504 related
    Bonus
    $0 + $35,000 related
    Other
    $0 + $3,564 related
    Deferred
    $0 + $19,800 related
    Nontaxable benefits
    $0 + $18,842 related
    Filer's total
    $0 + $434,710 related

  • Deborah E Dubois

    ODF PRESIDENT

    Total calculated
    $328,321
    From this org
    $0
    From related orgs
    $293,040
    Other
    $35,281
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $0 + $271,629 related
    Bonus
    $0 + $19,000 related
    Other
    $0 + $2,411 related
    Deferred
    $0 + $16,439 related
    Nontaxable benefits
    $0 + $18,842 related
    Filer's total
    $0 + $328,321 related

  • Teresa F Betz

    ODF COO - OUTGOING 03/31/24

    Total calculated
    $262,650
    From this org
    $0
    From related orgs
    $231,434
    Other
    $31,216
    Hours/week
    18 + 17 related

    Schedule J breakdown matched by us

    Base
    $0 + $207,504 related
    Bonus
    $0 + $21,000 related
    Other
    $0 + $2,930 related
    Deferred
    $0 + $12,600 related
    Nontaxable benefits
    $0 + $18,616 related
    Filer's total
    $0 + $262,650 related

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

The filer's explanations (Part III)

PART I, LINE 3
THE FILING ORGANIZATION'S TOP MANAGEMENT OFFICIAL IS COMPENSATED BY MORTGAGE BANKERS ASSOCIATION ("MBA"), A RELATED TAX-EXEMPT ORGANIZATION. THE PROCESS UNDERTAKEN BY MBA IS AS FOLLOWS: 1. REVIEW AND APPROVAL. THE COMPENSATION COMMITTEE, ON BEHALF OF THE BOARD, WILL REVIEW AND APPROVE THE COMPENSATION OF MBA'S CHIEF EMPLOYED EXECUTIVE, THE PRESIDENT, PROVIDED THAT INDIVIDUALS WITH CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE ARE NOT INVOLVED IN THIS REVIEW AND APPROVAL. 'COMPENSATION' MEANS INITIAL SALARY, SPECIAL BENEFITS NOT GENERALLY AVAILABLE TO MBA STAFF, SALARY INCREASES AND BONUSES. 2. USE OF DATA AS TO COMPARABLE COMPENSATION. THE COMPENSATION COMMITTEE WILL REVIEW AND SET THE COMPENSATION OF THE PRESIDENT USING AS REFERENCES POINTS: (I) COMPENSATION OF ANY PREDECESSOR PRESIDENT, AND (II) READILY AVAILABLE PUBLIC DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS (FORMAL BENCHMARKING STUDIES BY OUTSIDE COMPENSATION CONSULTANTS NEED NOT BE COMMISSIONED ANNUALLY BUT MAY BE SOUGHT PERIODICALLY). 3. ASSESSMENT OR PERFORMANCE. THE COMPENSATION COMMITTEE WILL TAKE INTO ACCOUNT: (I) THE LEVEL OF ATTAINMENT OF MBA'S GOALS AND OBJECTIVES OVER THE REVIEW PERIOD, (II) THE NATURE OF THE PARTICULAR EXTERNAL AND INTERNAL CHALLENGES FACING MBA OVER THE REVIEW PERIOD, AND (III) SUCH OTHER CONSIDERATIONS AS MAY BE APPLICABLE UNDER THE PREVAILING CIRCUMSTANCES. 4. CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING. THERE IS CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING WITH RESPECT TO THE DECISIONS REGARDING THE COMPENSATION ARRANGEMENT. 5. A COMPENSATION CONSULTANT IS HIRED TO ADVISE IN THIS PROCESS.

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.

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 February 2025
IRS schema version
2023v6.0
Source object
202540359349301479

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