Dr Martin Luther King Parade Foundation Inc
- Assets
- $107.0k
- Revenue
- $337.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Tampa, FL
- Founding
- 07/2014
- Data as of
- 12/2023
- EIN
- 46-5177120
Organization Overview
Dr Martin Luther King Parade Foundation Inc is located in Tampa, FL. The organization was established in 2014. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dr Martin Luther King Parade Foundation Inc 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 12/2023, Dr Martin Luther King Parade Foundation Inc generated $337.9k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 37.3% each year . All expenses for the organization totaled $356.2k during the year ending 12/2023. While expenses have increased by 38.4% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE MARTIN LUTHER KING PARADE IS TO HONOR THE LIFE LEGACY AND TIMES OF DR MARTIN LUTHER KING WHILE PROVIDING AN OPPORTUNITY FOR RESIDENTS, BUSINESSES AND COMMMUNITY TO GET VALUABLE EXPOSURE TO THE COMMUNITY IN WHICH THEY OPERATE AND FUTHER THE GOALS OF EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
PARADEWE ANNUALLY PRESENT THE MLK PARADE TO THOUSANDS. THE MLK PARADE ALLOWS GROUPS,BUSINESS AND INDIVIDUALS TO REFLECT ON THE POSITIVE CHANGES BROUGHT BY THE LEGACY OF DR. MARTIN LUTHER KING. THE PARADE IS VEIWED BY THOUSANDS ANNUALLY.
GALA WE HONOR HIGHSCHOOL SENIORS FOR THEIR OUTSTANDING COMMUNITY SERVICE BY OFFERING SCHOLARSHIPS TO HIGHSCHOOL SENIORS WHO WRITE ESSAYS DETAILING THE LIFE AND UNDERSTANDINGS OF TEACHINGS OF DR. MARTIN LUTHER KING JR.LAST YEAR WE AWARDED 3 HIGHSCHOOL SENIORS SCHOLARSHIP AWARDS. THE GALA EVENT ALLOWS THE STUDENT TO MEET AND FUNCTION AMOUNG OTHERS WHO UNDERSTAND THE TEACHINGS OF MARTIN LUTHER KING JR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roosevelt Ratcliff CEO | Officer | 10 | $0 |
Howard Harris Vice President | Officer | 10 | $0 |
Robert Scott President | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $103,669 |
| Related organizations | $0 |
| Government grants | $187,530 |
| All other contributions, gifts, grants, and similar amounts not included above | $46,692 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $337,891 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $337,891 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $52,041 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $155 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,275 |
| Insurance | $1,608 |
| All other expenses | $47,414 |
| Total functional expenses | $356,234 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $96,591 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,750 |
| 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 | $1,581 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,028 |
| Total assets | $106,950 |
| Accounts payable and accrued expenses | $0 |
| 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 | $54,324 |
| Total liabilities | $54,324 |
| Net assets without donor restrictions | $52,626 |
| Net assets with donor restrictions | $0 |
| 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 | $106,950 |