Mac Foundation
- Assets
- $36.5k
- Revenue
- $64.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Omaha, NE
- Founding
- Data as of
- 12/2023
- EIN
- 87-4291295
Organization Overview
Mac Foundation is located in Omaha, NE. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mac 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 12/2023, Mac Foundation generated $64.4k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 19.2% each year . All expenses for the organization totaled $50.4k during the year ending 12/2023. 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
TO CONNECT, EMPOWER, AND ELEVATE UNDERREPRESENTED ENTREPRENEURS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE RISING CEOS PROGRAM IS DESIGNED TO CREATE OPPORTUNITIES FOR TEENS IN AT-RISK POPULATIONS IN BLACK AND BROWN, IMMIGRANT AND REFUGEE COMMUNITIES TO INSPIRE AND FEED THE PIPELINE OF FUTURE MINORITY ENTREPRENEURS. IN THE TEN-WEEK PROGRAM, PARTICIPANTS WILL PARTICIPATE IN WORKSHOPS LEAD BY LOCAL BUSINESS LEADERS PAIRED UP WITH A K-12 TEACHER, CREATE A BUSINESS PLAN, AND COMPETE IN A BUSINESS PITCH COMPETITION TO WIN FUNDING OF $500 FOR THEIR IDEA. THE CULMINATION OF THE PROGRAM WILL BE THE ANNUAL RISING CEOS SUMMIT.
MAC FOUNDATION SCHOLARSHIPS HAVE BEEN ESTABLISHED TO ASSIST BLACK, REFUGEE, AND IMMIGRANT HIGH SCHOOL SENIORS AND COLLEGE STUDENTS STUDYING ACCOUNTING, FINANCE, LAW, AND STEM (SCIENCE, TECHNOLOGY, ENGINEERING, AND MATHEMATICS).
THE MAC FOUNDATION'S UMOJA PROGRAM IS AIMED AT INCREASING UNITY, COLLABORATION, AND SYNERGY BETWEEN AFRICAN AMERICAN AND AFRICAN IMMIGRANT COMMUNITIES IN THE MIDWEST. OUR PROGRAM RECOGNIZES THE IMPORTANCE OF BUILDING STRONG, DIVERSE COMMUNITIES, AND WE BELIEVE THAT BY BRINGING TOGETHER AFRICAN AMERICAN AND AFRICAN IMMIGRANT COMMUNITIES, WE CAN CREATE A MORE UNIFIED AND POWERFUL VOICE FOR CHANGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karine Sokpoh President | OfficerTrustee | 10 | $0 |
Jordan Young Secretary | OfficerTrustee | 10 | $0 |
Dr Albert Kate Treasurer | OfficerTrustee | 10 | $0 |
Dr Matthew Omojola Board Member | Trustee | 1 | $0 |
Tierra Nesbitt Board Member | Trustee | 1 | $0 |
Obiozor Okolo Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $7,729 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $31,218 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $38,947 |
| Total Program Service Revenue | $17,500 |
| 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 | $7,957 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $64,404 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $11,000 |
| 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 | $30,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $674 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,610 |
| Advertising and promotion | $350 |
| Office expenses | $501 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $268 |
| Total functional expenses | $50,428 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,500 |
| 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 | $36,500 |
| Accounts payable and accrued expenses | $2,950 |
| 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 | $2,950 |
| Net assets without donor restrictions | $33,550 |
| 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 | $36,500 |