Generating Income For Tomorrow
- Assets
- $295.8k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Kansas City, MO
- Founding
- Data as of
- 04/2022
- EIN
- 85-0935933
Organization Overview
Generating Income For Tomorrow is located in Kansas City, MO. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Generating Income For Tomorrow 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 04/2022, Generating Income For Tomorrow generated $1.1m in total revenue. All expenses for the organization totaled $981.3k during the year ending 04/2022.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ASSISTANCE TO BLACK-OWNED BUSINESSES IN KANSAS CITY, WITH A SPECIFIC INTEREST IN BUSINESSES THAT OPERATE IN LOW-INCOME AREAS. THE PURPOSE IS TO CREATE MORE JOBS AND CONVERT AN ECONOMICALLY DISADVANTAGED AREA INTO AN AREA OF ECONOMIC OPPORTUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GIFT GRANT PROGRAM PROVIDED GRANT FUNDING TO 21 DIFFERENT BLACK OWNED BUSINESSES WHICH RESULTED IN THE CREATION OF 35 NEW JOBS AND BUSINESS CENTER RESOURCES. AND THE GIVE BLACK KC FUNDRAISER MADE IT POSSIBLE TO CONTRIBUTE OVER $106K IN FUNDING
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brandon D Calloway Chief Executive Officerco Fo | Officer | 40 | $74,539 |
Cornell Gorman Chief Operating Officerco Fo | Officer | 40 | $69,635 |
Karis Harrington Executive Board Member | Officer | 40 | $56,539 |
Tonika Brockman Officer | OfficerTrustee | 0 | $0 |
Deshawn Burton Officer | OfficerTrustee | 0 | $0 |
Djuan Love Officer | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $120,834 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,014,711 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,135,545 |
| Total Program Service Revenue | $0 |
| Investment income | $250 |
| 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 | -$2,050 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,133,745 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $630,730 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $200,712 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,360 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $16,377 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $396 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $21,372 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $12,707 |
| Office expenses | $1,967 |
| Information technology | $20,958 |
| Royalties | $0 |
| Occupancy | $47,213 |
| Travel | $1,043 |
| 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 | $0 |
| All other expenses | $3,045 |
| Total functional expenses | $981,288 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $295,787 |
| 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 | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $295,787 |
| Accounts payable and accrued expenses | $9,275 |
| 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 | $9,275 |
| Net assets without donor restrictions | $286,512 |
| 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 | $295,787 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Generating Income For Tomorrow has recieved totaling $185,218.
| Awarding Organization | Amount |
|---|---|
Urban Action Partners Inc Kansas City, MO PURPOSE: TO SUPPORT THE ORGANIZATION'S EFFORTS TO CLOSE THE RACIAL WEALTH GAP, REDUCE POVERTY RELATED CRIME AND REVERSE THE EFFECTS OF SYSTEMATIC RACISM. | $122,218 |
Ewing Marion Kauffman Foundation Kansas City, MO PURPOSE: SUPPORT FOR THE 2021 HEARTLAND SPARK PROGRAM, A CAPACITY BUILDING PROGRAM FOR ENTREPRENEUR SUPPORT ORGANIZATIONS. 202108-11155 | $50,000 |
Menorah Heritage Foundation Overland Park, KS PURPOSE: GRANT AWARD | $13,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Downtown Riverfront Trust Omaha, NE | $158,815,743 | $28,894,950 |
Access Ventures Inc Louisville, KY | $43,826,766 | $16,386,169 |
Missouri River Historical Develop- Ment Inc Sioux City, IA | $5,283,123 | $4,260,184 |
Mid-America Regional Council Community Services Corporation Kansas City, MO | $2,213,477 | $3,497,916 |
East Moline Public Library Foundation East Moline, IL | $757,119 | $745,684 |
Lions Eye Bank Of Nebraska Inc Omaha, NE | $1,294,496 | $1,516,053 |
Memphis Land Bank Inc Memphis, TN | $18,817,383 | $908,597 |
Generating Income For Tomorrow Kansas City, MO | $295,787 | $1,133,745 |
Kc Air Show Charities Inc Kansas City, MO | $68,342 | $938,134 |
Michael E Portzen And Sara A Portzen Family Foundation Peosta, IA | $2,370,924 | $1,197,691 |
Heart Of America Redistribution Solutions And Support Sedalia, MO | $435,050 | $1,090,030 |
Community Betterment Organization Pella, IA | $2,432,406 | $1,698,245 |