Minds Matter
- Assets
- $2.5m
- Revenue
- $2.2m
- Investments
- $871.3k
- Employees
- 6
- Location
- New York, NY
- Founding
- 11/2004
- Data as of
- 06/2022
- EIN
- 32-0191502
Organization Overview
Minds Matter is located in New York, NY. The organization was established in 2004. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. As of 06/2022, Minds Matter employed 6 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Minds Matter 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 06/2022, Minds Matter generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.8% each year . All expenses for the organization totaled $1.7m during the year ending 06/2022. While expenses have increased by 13.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO TRANSFORM THE LIVES OF ACCOMPLISHED HIGH SCHOOL STUDENTS FROM LOW-INCOME FAMILIES BY BROADENING THEIR DREAMS AND PREPARING THEM FOR COLLEGE SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MINDS MATTER NYC CONTINUED TO SERVE UNDER-RESOURCED STUDENTS DURING THE COVID-19 PANDEMIC, PROVIDING REMOTE SESSIONS FOR THE JUNIOR AND SENIOR CLASSES THROUGHOUT THE YEAR. BECAUSE OF THE PANDEMIC, MINDS MATTER NYC DELAYED WELCOMING A NEW SOPHOMORE CLASS INTO THE COMMUNITY UNTIL FEBRUARY 2022. DESPITE PANDEMIC-IMPOSED RESTRICTIONS AND THE CONTINUING EFFECTS OF COVID-19 IN THE LIVES OF STUDENTS, MINDS MATTER NYC GRADUATED 100% OF ITS SENIOR CLASS INTO THEIR BEST-FIT COLLEGES AND UNIVERSITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erika Halstead Executive Dir. | Officer | 40 | $142,060 |
Colin P Delaney Dir Of Development | 40 | $99,425 | |
Deborah Beckman Chair | OfficerTrustee | 5 | $0 |
David Brisske Vice Chair | OfficerTrustee | 5 | $0 |
Sanjeev Parlikar Vice Chair | OfficerTrustee | 5 | $0 |
Minahaj Patel Treasurer | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $363,827 |
| Related organizations | $0 |
| Government grants | $128,373 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,729,789 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,221,989 |
| Total Program Service Revenue | $0 |
| Investment income | $13,174 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,481 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,232,682 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $254,848 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $157,698 |
| Compensation of current officers, directors, key employees. | $55,194 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $541,868 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $69,838 |
| Payroll taxes | $58,744 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $89,864 |
| Advertising and promotion | $21,626 |
| Office expenses | $45,869 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $81,850 |
| Travel | $38,877 |
| 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 | $44,735 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $23,840 |
| Total functional expenses | $1,706,261 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,601,933 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Investments—other securities | $871,349 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,473,282 |
| Accounts payable and accrued expenses | $25,979 |
| Grants payable | $44,627 |
| 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 | $18,402 |
| Total liabilities | $89,008 |
| Net assets without donor restrictions | $2,357,274 |
| Net assets with donor restrictions | $27,000 |
| 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 | $2,473,282 |