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Nonprofiteer
← THURGOOD MARSHALL COLLEGE FUND INC

Form 990 for tax year 2025

Filed by THURGOOD MARSHALL COLLEGE FUND INC.

Totals

Total revenue
$116,286,465
Total expenses
$77,629,106
Contributions and grants received
$112,276,957
Grants paid
$26,394,422
Program service revenue
$741,300
Investment income
$3,398,134
Other revenue
-$129,926
Total assets, end of year
$189,353,593
Total liabilities, end of year
$8,323,172
Net assets or fund balances, end of year
$181,030,421
Program services expenses (Part IX)
$60,732,454
Management and general expenses
$13,634,919
Fundraising expenses
$3,261,733
Program service expenses (Part III)
$60,732,454

Program services were 78.2% 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.

  • 1a · Federated campaigns

    $25,202

  • 1c · Fundraising events

    $715,355

  • 1e · Government grants (contributions)

    $131,274

  • 1f · All other contributions, gifts and grants

    $111,405,126

  • 1g · Noncash contributions included above

    $89,025

  • 2a · Program service revenue: Registration fees

    total $580,250 · related or exempt $580,250

  • 2b · Program service revenue: Contract income

    total $161,050 · related or exempt $161,050

  • 3 · Investment income

    total $2,679,629 · excluded $2,679,629

  • 7a · Gross sales of assets other than inventory

    securities $13,711,903

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

    securities $12,993,398

  • 7c · Gain or loss

    securities $718,505

  • 7d · Net gain or loss

    total $718,505 · excluded $718,505

  • 8a · Fundraising events: gross income

    $222,250

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

    $715,355

  • 8b · Fundraising events: direct expenses

    $444,989

  • 8c · Net income from fundraising events

    total -$222,739 · excluded -$222,739

  • 11a · Other revenue: Refunds/ reimbursements

    total $92,813 · excluded $92,813

  • 11e · Other revenue, total

    $92,813

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,456,000 · program services $4,456,000

  • 2 · Grants to domestic individuals

    total $21,938,422 · program services $21,938,422

  • 5 · Compensation of officers, directors and key employees

    total $2,310,954 · program services $821,523 · management and general $1,314,259 · fundraising $175,172

  • 7 · Other salaries and wages

    total $9,703,251 · program services $3,449,414 · management and general $5,518,325 · fundraising $735,512

  • 8 · Pension plan contributions

    total $348,398 · program services $123,852 · management and general $198,137 · fundraising $26,409

  • 9 · Other employee benefits

    total $1,806,724 · program services $642,273 · management and general $1,027,500 · fundraising $136,951

  • 10 · Payroll taxes

    total $891,851 · program services $317,045 · management and general $507,203 · fundraising $67,603

  • 11b · Fees: legal

    total $11,598 · management and general $11,598

  • 11c · Fees: accounting

    total $58,879 · management and general $58,879

  • 11f · Fees: investment management

    total $143,109 · management and general $143,109

  • 11g · Fees: other

    total $8,652,491 · program services $6,660,245 · management and general $1,394,120 · fundraising $598,126

  • 12 · Advertising and promotion

    total $326,104 · program services $182,499 · management and general $138,792 · fundraising $4,813

  • 13 · Office expenses

    total $1,011,512 · program services $550,556 · management and general $386,381 · fundraising $74,575

  • 14 · Information technology

    total $1,919,657 · program services $766,545 · management and general $1,080,456 · fundraising $72,656

  • 16 · Occupancy

    total $490,178 · program services $273,886 · management and general $216,292

  • 17 · Travel

    total $9,954,383 · program services $8,419,152 · management and general $775,491 · fundraising $759,740

  • 19 · Conferences, conventions and meetings

    total $13,291,915 · program services $12,077,678 · management and general $605,365 · fundraising $608,872

  • 23 · Insurance

    total $80,132 · management and general $80,132

  • 24a · Other expenses: Dues and subscriptions

    total $137,193 · program services $53,364 · management and general $82,525 · fundraising $1,304

  • 24b · Other expenses: Employee recruitment

    total $96,355 · program services $0 · management and general $96,355 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $64,297,700 · end of year $40,530,363

  • 2 · Savings and temporary cash investments

    beginning of year $3,946,989 · end of year $4,551,269

  • 3 · Pledges and grants receivable

    beginning of year $20,674,796 · end of year $9,530,044

  • 4 · Accounts receivable

    beginning of year $887,260 · end of year $1,233,424

  • 11 · Investments: publicly traded securities

    beginning of year $50,925,242 · end of year $131,488,116

  • 12 · Investments: other securities

    beginning of year $226,034 · end of year $226,062

  • 15 · Other assets

    beginning of year $2,381,369 · end of year $1,794,315

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,729,930 · end of year $6,308,444

  • 25 · Other liabilities

    beginning of year $2,610,729 · end of year $2,014,728

  • 27 · Net assets without donor restrictions

    beginning of year $50,122,232 · end of year $106,365,865

  • 28 · Net assets with donor restrictions

    beginning of year $88,876,499 · end of year $74,664,556

Listed in Part VII

  • Racquel Oden

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Terry Arnold

    Director

    Total calculated
    $0
    Hours/week
    1

  • Gary Bettman

    Director

    Total calculated
    $0
    Hours/week
    1

  • Cynthia Bowman

    Director

    Total calculated
    $0
    Hours/week
    1

  • Sandra Buchanan

    Director

    Total calculated
    $0
    Hours/week
    1

  • Greg Carter II

    Director

    Total calculated
    $0
    Hours/week
    1

  • Theodore Colbert III

    Director

    Total calculated
    $0
    Hours/week
    1

  • Byna Elliott

    Director

    Total calculated
    $0
    Hours/week
    1

  • Robert Engel

    Director

    Total calculated
    $0
    Hours/week
    1

  • Myron Frazier

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey Hurd

    Director

    Total calculated
    $0
    Hours/week
    1

  • Collis Jones

    Director

    Total calculated
    $0
    Hours/week
    1

  • Gregory Jones

    Director

    Total calculated
    $0
    Hours/week
    1

  • Lane McBride

    Director

    Total calculated
    $0
    Hours/week
    1

  • April Payne-McMillian

    Director

    Total calculated
    $0
    Hours/week
    1

  • Charles Merinoff

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mark Nelson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Michelle Nettles

    Director

    Total calculated
    $0
    Hours/week
    1

  • David Osswald

    Director

    Total calculated
    $0
    Hours/week
    1

  • Melonie Parker

    Director

    Total calculated
    $0
    Hours/week
    1

  • Dr Quinton Ross Jr

    Director

    Total calculated
    $0
    Hours/week
    1

  • Dr Patricia Sims

    Director

    Total calculated
    $0
    Hours/week
    1

  • Paul Sweeney Jr Esq

    Director

    Total calculated
    $0
    Hours/week
    1

  • Byron Taylor

    Director

    Total calculated
    $0
    Hours/week
    1

  • Toni Townes-Whitley

    Director

    Total calculated
    $0
    Hours/week
    1

  • Kevin Walling

    Director

    Total calculated
    $0
    Hours/week
    1

  • Alicia West

    Director

    Total calculated
    $0
    Hours/week
    1

  • Tatia Williams

    Director

    Total calculated
    $0
    Hours/week
    1

  • Dr Harry Lee Williams

    President & CEO

    Total calculated
    $767,106
    From this org
    $707,000
    From related orgs
    $0
    Other
    $60,106
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $425,000
    Bonus
    $270,000
    Other
    $12,000
    Deferred
    $25,500
    Nontaxable benefits
    $34,606
    Filer's total
    $767,106

  • Aisha Brown

    COO & Chief Strategy Officer

    Total calculated
    $469,060
    From this org
    $434,587
    From related orgs
    $0
    Other
    $34,473
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $325,297
    Bonus
    $109,290
    Other
    $0
    Deferred
    $13,038
    Nontaxable benefits
    $21,435
    Filer's total
    $469,060

  • Jonathan Sandville

    Chief Development Officer

    Total calculated
    $73,940
    From this org
    $67,308
    From related orgs
    $0
    Other
    $6,632
    Hours/week
    40

  • Clara Stamps Jones

    Chief Mktg and Communications Officer

    Total calculated
    $327,322
    From this org
    $290,288
    From related orgs
    $0
    Other
    $37,034
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $235,288
    Bonus
    $55,000
    Other
    $0
    Deferred
    $15,000
    Nontaxable benefits
    $22,034
    Filer's total
    $327,322

  • Tamara Thompson

    Chief Program Officer

    Total calculated
    $250,623
    From this org
    $240,000
    From related orgs
    $0
    Other
    $10,623
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,000
    Bonus
    $40,000
    Other
    $0
    Deferred
    $9,600
    Nontaxable benefits
    $1,023
    Filer's total
    $250,623

  • David Sheppard

    Chief Business & Legal Officer

    Total calculated
    $422,903
    From this org
    $382,274
    From related orgs
    $0
    Other
    $40,629
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $319,111
    Bonus
    $63,163
    Other
    $0
    Deferred
    $19,194
    Nontaxable benefits
    $21,435
    Filer's total
    $422,903

  • Tamaria Kai Perry

    SVP Special Projects

    Total calculated
    $219,442
    From this org
    $204,000
    From related orgs
    $0
    Other
    $15,442
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,000
    Bonus
    $34,000
    Other
    $0
    Deferred
    $7,592
    Nontaxable benefits
    $7,850
    Filer's total
    $219,442

  • Jason Hundley

    Executive VP, Finance and Operations

    Total calculated
    $334,608
    From this org
    $310,442
    From related orgs
    $0
    Other
    $24,166
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $209,788
    Bonus
    $37,000
    Other
    $63,654
    Deferred
    $12,600
    Nontaxable benefits
    $11,566
    Filer's total
    $334,608

  • Martinique Lashawn Taylor

    Senior Vice President of Programs

    Total calculated
    $250,803
    From this org
    $210,000
    From related orgs
    $0
    Other
    $40,803
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,000
    Bonus
    $30,000
    Other
    $0
    Deferred
    $6,300
    Nontaxable benefits
    $34,503
    Filer's total
    $250,803

  • Betsy Ann Burton-Strunk

    Vice President of Development

    Total calculated
    $223,406
    From this org
    $180,000
    From related orgs
    $0
    Other
    $43,406
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,000
    Bonus
    $30,000
    Other
    $0
    Deferred
    $9,000
    Nontaxable benefits
    $34,406
    Filer's total
    $223,406

  • M Christopher Brown

    Exec. Director & Research Scientist

    Total calculated
    $254,686
    From this org
    $232,000
    From related orgs
    $0
    Other
    $22,686
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,000
    Bonus
    $47,000
    Other
    $0
    Deferred
    $11,100
    Nontaxable benefits
    $11,586
    Filer's total
    $254,686

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

  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 1a
The Organization has an agreement with a residential building to lease an apartment for use by the President and CEO.
Part I, Line 4b
During the year ended December 31, 2022, the Organization established a non-qualified deferred compensation plan ("the Plan") on behalf of certain key executives. Organized under Internal Revenue Code (IRC) Section 457(f), the Plan is funded through annual contributions by the Organization, and will be paid to the executives upon retirement.
Part I, Line 7
Bonuses received by all officers are discretionary and determined based upon performance.

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

The 10 largest by cash amount. The API serves every itemized grant.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • TM2 Search LLC

    Education search/ leadership development services · DE · income $580,250 · assets $1,293,698

    Directly controlled by Thurgood Marshall College Fund

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Opportunity Funding Corporation Inc

    C · Business plan funding/ dormant · DC · 100% owned · share of income $28 · share of assets $226,062 · controlled entity

    Directly controlled by Thurgood Marshall College Fund Inc

Provenance

Return type
form_990
Tax year
2025
IRS schema version
2025v4.2
Source object
202612649349301211

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