Aqume Foundation
- Assets
- $137.4k
- Revenue
- $234.9k
- Investments
- $0.0
- Employees
- 2
- Location
- Wyoming, MI
- Founding
- Data as of
- 12/2022
- EIN
- 87-2397576
Organization Overview
Aqume Foundation is located in Wyoming, MI. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Aqume Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aqume Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
AQUME FOUNDATION CENTERS ECONOMIC JUSTICE AND RACIAL EQUITY IN PHILANTHROPY WHILE INTEGRATING OUR CORE VALUES OF EQUITY, FINANCIAL INVESTMENT, ACCOUNTABILITY AND COMMUNITY TRANSFORMATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AQUME FOUNDATIONS GENERAL OPERATIONS SUPPORT OUR OPERATE IN EXCELLENCE LEADERSHIP CULTIVATION, A ONE-YEAR HYBRID PROGRAM THAT CREATES GREATER COMFORT FOR BIPOC LEADERS OPERATING AT C-SUITE LEVELS TO IMPROVE INTRAPERSONAL SKILLS, AND EXECUTIVE COMPENTENCIES TO PROFESSIONALLY SHIFT ORGANIZATIONS FROM UNDER-RESOURCED OPERATIONS INTO ROBUST, THRIVING ORGANIZATIONS WITH INCREASED ACCESS TO SUSTAINABLE FINANCIAL RESOURCES, OUR PHILANTHROPY LOOKS LIKE ME SOCIAL ENTERPRISE PROGRAM SERVES GREATER GRAND RAPIDS AREA BIPOC YOUTH AND GUIDES A COHORT OF MIDDLE SCHOOL AND HIGH SCHOOL STUDENTS THROUGH A TEN-WEEK PROGRAM WHERE STUDENT ENTREPRENEURS LEARN HOW TO BUILD A BUSINESS, GENERATE REVENUE AND THE PHILANTHROPIC IMPACT OF COLLECTIVE GIVING IN CORRELATION WITH THE QUADRUPLE BOTTOM LINE OF PEOPLE, PLANET, PROFIT AND PURPOSE.
AQUME FOUNDATIONS FIDUCIARY PROGRAM PROVIDES BOTH PROJECT-SPECIFIC AND COMPREHENSIVE FISCAL SPONSORSHIPS THAT BUILD THE CAPACITY OF BIPOC LEADERSHIP LEADING CHARITABLE PROJECTS THAT STRIVE FOR RACIAL AND ECONOMIC JUSTICE AND MEANINGFUL COMMUNITY TRANSFORMATION. PROJECT-SPECIFIC ADMINISTRATIVE SUPPORT SERVICES ARE LIMITED TO SERVICES NECESSARY FOR RECEIVING AND OVERSEEING PROJECT-SPECIFIC FUNDS,AND THE DISTRIBUTION OF PROJECT-SPECIFIC FUNDS; WHEREAS OUR COMPREHENSIVE FISCAL SPONSORSHIP BENEFIT FROM A SUITE OF ADMINISTRATIVE SERVICES WHICH INCLUDE: BUT NOT LIMITED TO, BOOKKEEPING, ACCOUNTING SERVICES AND FINANCIAL CONSULTING.
AQUME FOUNDATIONS GOLD SCHOLAR SCHOLARSHIP PROGRAM IS BASED ON OUR COMMUNITY TRUST-BASED PHILANTHROPY MODEL, OUR MERIT-BASED PROGRAM AWARDS TWO BIPOC STUDENTS WITH $1,000 EACH TO SUPPORT NON-TRADITIONAL COLLEGE EXPENSES WITHIN THEIR FIRST YEAR OF COLLEGE. OUR ANNUAL SCHOLARSHIP PROGRAM PROMOTES EQUITY AND HELPS ALLEVIATE THE PRESSURES OF PRE-SEMESTER SCHOOL EXPENSES BY SENDING FUNDS DIRECTLY TO THE STUDENT OR GUARDIAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ciarra Adkins President | OfficerTrustee | 30 | $25,956 |
Tonya Adkins-Mckeever Chief Operating Officer | OfficerTrustee | 25 | $25,956 |
Mario L Adkins At-Large | Trustee | 0 | $0 |
Jamie Ferrell At-Large | Trustee | 0 | $0 |
Marcus A Jackson At-Large | Trustee | 0 | $0 |
Alvin Hills At-Large | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $45,938 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $225,857 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $271,795 |
| 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 | -$36,852 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $234,943 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $51,912 |
| Compensation of current officers, directors, key employees. | $3,634 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,623 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,970 |
| Fees for services: Management | $15,598 |
| Fees for services: Legal | $20 |
| Fees for services: Accounting | $372 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,613 |
| Advertising and promotion | $2,366 |
| Office expenses | $6,604 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $182 |
| Travel | $203 |
| 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 | $49 |
| Total functional expenses | $102,512 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $132,431 |
| Savings and temporary cash investments | $2,265 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,750 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $137,446 |
| Accounts payable and accrued expenses | $22,735 |
| 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 | $22,735 |
| Net assets without donor restrictions | $93,412 |
| Net assets with donor restrictions | $21,299 |
| 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 | $137,446 |