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Nonprofiteer
← MINDS OF THE FUTURE FOUNDATION

Form 990 for tax year 2023

Filed by MINDS OF THE FUTURE FOUNDATION.

Totals

Total revenue
$502,807
Total expenses
$250,889
Contributions and grants received
$502,807
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$621,955
Total liabilities, end of year
$262,004
Net assets or fund balances, end of year
$359,951
Program services expenses (Part IX)
$223,231
Management and general expenses
$27,658
Fundraising expenses
$0
Program service expenses (Part III)
$223,231

Program services were 89.0% 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.

  • 1e · Government grants (contributions)

    $285,889

  • 1f · All other contributions, gifts and grants

    $216,918

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $250 · management and general $250

  • 11c · Fees: accounting

    total $15,750 · management and general $15,750

  • 12 · Advertising and promotion

    total $31,714 · program services $31,714

  • 13 · Office expenses

    total $406 · program services $403 · management and general $3

  • 16 · Occupancy

    total $69,414 · program services $69,414

  • 20 · Interest

    total $3,953 · management and general $3,953

  • 22 · Depreciation, depletion and amortization

    total $0 · program services $0 · management and general $0

  • 23 · Insurance

    total $6,112 · management and general $6,112

  • 24a · Other expenses: Equipment Rental

    total $259 · program services $259

  • 24b · Other expenses: Office Supplies

    total $427 · program services $427

  • 24e · All other expenses

    total $122,604 · program services $121,014 · management and general $1,590 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,632 · end of year $139,784

  • 5 · Loans and receivables from officers and key people

    beginning of year $170,663 · end of year $160,004

  • 7 · Other notes and loans receivable

    beginning of year $219,958 · end of year $279,886

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

    $47,501

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

    $5,220

  • 10c · Land, buildings and equipment, net

    beginning of year $10,627 · end of year $42,281

  • 17 · Accounts payable and accrued expenses

    beginning of year $33,624 · end of year $35,000

  • 22 · Loans and payables to officers and key people

    beginning of year $11,030

  • 23 · Secured mortgages and notes payable

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

  • 24 · Unsecured notes and loans payable

    end of year $192,004

Mission and programs · 2023

Mission

Schools and school development. Youth development, mentoring and tutoring and research. Educational assistance programs for underprivileged youths, career counseling services and strategic cooperate with other groups and organizations that have a related mission and purpose.

Activities or mission (Part I)

At Minds of the Future Academy, our primary concern is to provide quality child care services to families with young children. We are proud of the contribution that each member of our staff makes in providing a safe and happy environment where young children are able to grow in mind, body, and spirit.

  • Program Income

    Revenue $502,807

  • Expenses $223,231

As filed on the 2023 return.

Listed in Part VII

  • Cynthia Smith

    President

    Total calculated
    $0
    Hours/week
    40 + 40 related

  • Keyana Smith

    Director

    Total calculated
    $0
    Hours/week
    20 + 20 related

  • Tiaria Howard

    Vice President

    Total calculated
    $0
    Hours/week
    20 + 20 related

  • Seneshia Stewart

    Secretary

    Total calculated
    $0
    Hours/week
    10 + 10 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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
22 March 2024
IRS schema version
2023v6.0
Source object
202601499349301210

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