Minnesota Black Collective Foundation
- Assets
- $4.7m
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- Data as of
- 12/2023
- EIN
- 88-3613546
Organization Overview
Minnesota Black Collective Foundation is located in Minneapolis, MN. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Black Collective Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2023, Minnesota Black Collective Foundation has awarded 51 individual grants totaling $925,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
BUILD BLACK PHILANTHROPIC POWER TO STRENGTHEN THE ECOSYSTEM OF BLACK-LED SOCIAL, POLITICAL, AND ECONOMIC CHANGE IN MINNESOTA AND BEYOND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COLLECTIVE INVESTS IN THE GENIUS OF BLACK-LED CHANGE THROUGH GRANTMAKING AND CREATIVE RESOURCING; THE COLLECTIVE STRENGTHENS THE BLACK-LED CHANGE ECOSYSTEM THROUGH BUILDING POWER, CONNECTING, CONVENING, AND AMPLIFYING THE TRANSFORMATIONAL COMMUNITY CHANGE WORK TAKING PLACE ACROSS THE STATE; THE COLLECTIVE BUILDS COMMUNITY WEALTH BY ESTABLISHING THE FIRST BLACK COMMUNITY FOUNDATION WITH AN ENDOWMENT IN MINNESOTA. AN ENDOWMENT ALLOWS THE COMMUNITY TO BE SELF-SUFFICIENT BECAUSE IT PROVIDES INCOME IN PERPETUITY FOR BLACK-LED GENIUS; THE COLLECTIVE TRANSFORMS THE PHILANTHROPIC FIELD IN MINNESOTA & BEYOND, TO CENTER AND REALIZE RACIAL JUSTICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chanda Smith Baker Treasurer | OfficerTrustee | 3 | $40,200 |
Repa Mekha Chair | OfficerTrustee | 3 | $0 |
Lulete Mola Secretary, President & Co-Founder | OfficerTrustee | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,830,885 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,830,885 |
| Total Program Service Revenue | $0 |
| Investment income | $20,405 |
| 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 | $5,851,290 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $970,000 |
| Grants and other assistance to domestic individuals. | $150,000 |
| 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 | $53,617 |
| Fees for services: Legal | $2,138 |
| Fees for services: Accounting | $21,390 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $30,351 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $264,459 |
| Advertising and promotion | $0 |
| Office expenses | $9,144 |
| Information technology | $6,370 |
| Royalties | $0 |
| Occupancy | $5,090 |
| Travel | $3,321 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,336 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,518 |
| All other expenses | $148 |
| Total functional expenses | $1,535,223 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,438,874 |
| Savings and temporary cash investments | $1,717,470 |
| Pledges and grants receivable | $1,552,764 |
| 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 | $4,476 |
| 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 | $4,713,584 |
| Accounts payable and accrued expenses | $45,517 |
| Grants payable | $352,000 |
| 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 | $397,517 |
| Net assets without donor restrictions | $2,440,401 |
| Net assets with donor restrictions | $1,875,666 |
| 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 | $4,713,584 |
Grants Awarded
Over the last fiscal year, Minnesota Black Collective Foundation has awarded $925,000 in support to 51 organizations.
| Grant Recipient | Amount |
|---|---|
ACCESS PHILANTHROPY CHARITIES PURPOSE: Fiscal sponsor of Black Immigrant Collective | $10,000 |
AFFINITY HEALING COLLECTIVE PURPOSE: Fiscal Sponsor for Therapeace Counseling | $10,000 |
AFRICAN AMERICAN LEADERSHIP FORUM PURPOSE: Fiscal Sponsor for Chanda Smith Baker LLC | $25,000 |
AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS PURPOSE: Resilience Grant | $10,000 |
AFRICAN CAREER EDUCATION AND RESOURCE INC PURPOSE: Resilience Grant | $10,000 |
AL-MAA'UUN | | | $10,000 |