Foundation For Minority Interests In Media Inc
- Assets
- $4.2m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 12
- Location
- New York, NY
- Founding
- 09/1985
- Data as of
- 12/2021
- EIN
- 22-2635292
Organization Overview
Foundation For Minority Interests In Media Inc, operating under the name The Emma Bowen Foundation, is located in New York, NY. The organization was established in 1985. According to its NTEE Classification (A30) the organization is classified as: Media & Communications, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Emma Bowen Foundation employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Emma Bowen Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Emma Bowen Foundation generated $2.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $1.7m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CHIEF OBJECTIVE OF THE FOUNDATION FOR MINORITY INTERESTS IN MEDIA, INC IS TO CONDUCT ACTIVITIES WHICH ARE EXCLUSIVELY CHARITABLE AND EDUCATIONAL WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, FOR THE PURPOSE OF EDUCATING AND MENTORING INDIVIDUALS OF COLOR IN THE FIELD OF COMMUNICATIONS LEADING TO EMPLOYMENT OPPORTUNITIES IN THE COMMUNCATIONS INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION FOR MINORITY INTERESTS IN MEDIA CONDUCTS SEVERAL CONFERENCES DURING THE YEAR, BOTH ON A NATIONAL AND REGIONAL BASIS, GIVING FOUNDATION STUDENTS THE OPPORTUNITY FOR PEER AND EXECUTIVE NETWORKING, PROFESSIONAL DEVELOPMENT AND ACCESS TO INFORMATION ON TRENDS AND ISSUES IN THE MEDIA INDUSTRY.
THE FOUNDATION ASSISTS STUDENTS WITH EDUCATION COSTS THROUGH ITS STUDENT SPONSORSHIP PROGRAM. THIS IS A NEED BASED PROGRAM. IN ADDITION, THE FOUNDATION HAS A WORK/STUDY PROGRAM THAT INCLUDES A MATCHING FUNDS COMPONENT FOR SCHOLARSHIPS. THIS PROGRAM PROVIDES,FINANCIAL ASSISTANCE TO STUDENTS ACTIVELY PARTICIPATING IN THE PROGRAM WHO MEET ACADEMIC AND PERFORMANCE REQUIREMENTS. MATCHING AMOUNTS ARE EQUAL TO THE STUDENT'S SUMMER EARNINGS OR A MAXIMUM CAP DETERMINED BY THEIR SPONSORING COMPANY.
THE PURPOSE OF THE SPONSORSHIP PROGRAM AWARDS ARE TO PROVIDE GRANTS TO PARTICIPATING EMPLOYERS TO PARTIALLY SUBIDIZE COSTS OF EMPLOYING STUDENT INTERNS.
OTHER PROGRAM SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nikki Bethel CEO | Officer | 50 | $200,000 |
Michael G Barham COO | Officer | 50 | $128,227 |
Ayai Gospodinova VP Business | Officer | 50 | $113,668 |
William Straham Chairman | OfficerTrustee | 2 | $0 |
Robert Apter Treasurer | OfficerTrustee | 2 | $0 |
Christopher Lammers Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $131,508 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,975,991 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,107,499 |
| Total Program Service Revenue | $0 |
| Investment income | $52,219 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,159,718 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $287,388 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $778,645 |
| Pension plan accruals and contributions | $37,255 |
| Other employee benefits | $79,983 |
| Payroll taxes | $55,904 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,308 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,861 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $63,285 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,356 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,806 |
| All other expenses | $951 |
| Total functional expenses | $1,689,283 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100 |
| Savings and temporary cash investments | $1,871,206 |
| Pledges and grants receivable | $70,500 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,282,923 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,224,729 |
| Accounts payable and accrued expenses | $104,124 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $104,124 |
| Net assets without donor restrictions | $4,013,647 |
| Net assets with donor restrictions | $106,958 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,224,729 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Foundation For Minority Interests In Media Inc has recieved totaling $698,793.
| Awarding Organization | Amount |
|---|---|
Walter Kaitz Foundation Washington, DC PURPOSE: PROMOTE DIVERSITY IN THE CABLE INDUSTRY | $259,100 |
Democracy Fund Inc Washington, DC PURPOSE: GENERAL SUPPORT | $250,000 |
The Heising-Simons Foundation Los Altos, CA PURPOSE: FOR GENERAL SUPPORT | $100,000 |
National Cable Satellite Corporation Washington, DC PURPOSE: GENERAL SUPPORT | $27,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $21,593 |
Ncta-The Internet & Television Association Washington, DC PURPOSE: ANNUAL CONTRIBUTION 2021 | $20,000 |
Endowment Analysis
| Beg. Balance | $1,843,682 |
| Earnings | $221,407 |
| Admin Expense | $17,861 |
| Net Contributions | $264,000 |
| Ending Balance | $2,311,228 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Witf Inc Harrisburg, PA | $54,156,408 | $17,466,259 |
Wxxi Public Broadcasting Council Rochester, NY | $26,835,003 | $14,361,773 |
Western New York Public Broadcasting Association Buffalo, NY | $20,445,081 | $15,235,511 |
Wqed Multimedia Pittsburgh, PA | $26,860,609 | $15,875,013 |
Geopath New York, NY | $2,097,357 | $11,766,480 |
Public Media Nj Inc New York, NY | $13,143,046 | $9,787,571 |
Wmht Educational Telecommunications Inc Troy, NY | $24,630,036 | $10,052,137 |
Democracy Now Productions Inc New York, NY | $36,977,400 | $9,199,755 |
Public Broadcasting Council Of Central New York Inc Old Liverpool Syracuse, NY | $17,299,983 | $6,896,548 |
Jta-Mjl New Corp New York, NY | $4,638,573 | $7,369,921 |
Movement Alliance Project Philadelphia, PA | $7,765,411 | $9,112,322 |
Markup News Inc New York, NY | $7,207,134 | $6,862,028 |