The Mind Trust Inc
- Assets
- $26.4m
- Revenue
- $29.9m
- Investments
- $0.0
- Employees
- 39
- Location
- Indianapolis, IN
- Founding
- 03/2007
- Data as of
- 06/2023
- EIN
- 20-4560286
Organization Overview
The Mind Trust Inc is located in Indianapolis, IN. The organization was established in 2007. According to its NTEE Classification (B05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Education and related organizations. As of 06/2023, Mind Trust Inc employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mind Trust 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 06/2023, Mind Trust Inc generated $29.9m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 37.5% each year . All expenses for the organization totaled $21.7m during the year ending 06/2023. While expenses have increased by 12.8% per year over the past 5 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.
Since 2018, Mind Trust Inc has awarded 199 individual grants totaling $41,630,892. 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
THE MIND TRUST WAS FOUNDED IN 2006 WITH THE GOAL OF TRANSFORMING INDIANAPOLIS' K-12 EDUCATION LANDSCAPE TO ENSURE THAT ALL INDIANAPOLIS STUDENTS HAVE THE OPPORTUNITY TO RECEIVE A HIGH-QUALITY EDUCATION. OVER THE LAST 17 YEARS, THE MIND TRUST HAS SUPPORTED THE LAUNCH OF 49 PUBLIC SCHOOLS AND 15 EDUCATION NONPROFIT ORGANIZATIONS IN INDIANAPOLIS. THE MIND TRUST INVESTS IN PUBLIC EDUCATION TO TRANSFORM LIVES IN NEIGHBORHOODS ACROSS INDIANAPOLIS. THE MIND TRUST WORKS TOWARD A DAY WHEN RACE AND INCOME ARE NO LONGER PREDICTORS OF LIFE OUTCOMES. THE MIND TRUST EXECUTES ON THIS GOAL BY CONTINUOUSLY PURSUING RACIAL EQUITY; ENSURING STUDENTS HAVE ACCESS TO HIGH-QUALITY SCHOOLS AND EDUCATORS; EMPOWERING FAMILIES AND COMMUNITIES; AND SUSTAINING A STRONG EDUCATION LANDSCAPE IN INDIANAPOLIS THEREBY SUPPORTING, BENEFITTING, AND PERFORMING THE EDUCATIONAL AND CHARITABLE PURPOSES OF THE UNIVERSITY OF INDIANAPOLIS AND TNTP, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MIND TRUST ACHIEVES ITS GOALS BY EXECUTING ON WORK IN FOUR AREAS: GREAT SCHOOLS: THE MIND TRUST LAUNCHES NEW HIGH-QUALITY, AUTONOMOUS SCHOOLS WITH THE CONDITIONS FOR SUCCESS AND SUPPORT EXISTING SCHOOLS TO REACH AND SUSTAIN SUCCESS. THE MIND TRUST SUPPORTS, RETAINS, AND ATTRACTS TALENTED EDUCATORS WHO SHARE THE RACIAL AND/OR SOCIOECONMIC BACKGROUND OF INDIANAPOLIS' STUDENTS. ENGAGING COMMUNITY: THE MIND TRUST WORKS TO AMPLIFY THE VOICES OF NEIGHBORHOODS AND COMMUNITIES TO LEAD AND ADOVACATE FOR EDUCATION CHANGE. THE MIND TRUST ESTABLISHES PARTNERSHIPS TO ADDRESS BARRIERS THAT MAKE IT HARDER FOR CHILDREN TO LEARN AND INCREASE THEIR ECONMIC MOBILITY. RACIAL EQUITY: THE MIND TRUST PURSUES RACIAL EQUITY WITHIN EDUCATION THROUGH ITS POLICIES AND PROGRAMS. THE MIND TRUST SEEKS TO ELEVATE LEADERS WHO SHARE INDIANAPOLIS STUDENTS' RACIAL AND SOCIOECONOMIC BACKGROUDS, AND THE MIND TRUST AMPLIFIES MARGINALIZED VOICES. THRIVING ECOSYSTEM: THE MIND TRUST WORKS TO MAINTAIN AND STRENGTHEN THE CONDITIONS FOR STUDENT SUCCESS THROUGH POLICY AND ADVOCACY, EFFECTIVE SYSTEM-LEVEL SOLUTIONS, AND COLLABORATION WITHIN THE EDUCATION. THE MIND TRUST IS A FUNDING INTERMEDIARY AND LOCAL CHAMPION FOR ENTREPRENEURIAL EDUCATION VENTURES IN INDIANAPOLIS.
THE MIND TRUST SUPPORTS INDIANAPOLIS PARTNERS TO IMPROVE THE CITY'S EDUCATION ECOSYSTEM AND NATIONAL PARTNERS IN THE DEVELOPMENT OF OTHER CITY PROOF POINTS FOR EDUCATION TRANSFORMATION. THE MIND TRUST ENGAGED IN SEVERAL PROJECTS IN THE 2022-23 FISCAL YEAR TO SUPPORT OUR INDIANAPOLIS PARTNERS IN IMPROVING THE EDUCATION ECOSYSTEM AND STUDENT OUTCOMES IN INDIANAPOLIS AND OUR NATIONAL PARTNER IN THE DEVELOPMENT OF PROOF POINTS IN OTHER GEOGRAPHIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Schumacher Board Chair | OfficerTrustee | 0.5 | $0 |
Ann Murtlow Board Treasu | OfficerTrustee | 0.5 | $0 |
Miriam Acevedo Davis Director | Trustee | 0.25 | $0 |
David Harris Director | Trustee | 0.5 | $0 |
Tequilla Brownie Director | Trustee | 0.25 | $0 |
Steven Jones Director | Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Center For Innovative Ed Solutions Consulting | 6/29/23 | $385,000 |
Instruction Partners Consulting | 6/29/23 | $360,000 |
Student First Technologies Consulting | 6/29/23 | $234,003 |
Bridges To Readiness Consulting | 6/29/23 | $232,250 |
The Highland Project Consulting | 6/29/23 | $185,000 |
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 | $25,817,862 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,817,862 |
| Total Program Service Revenue | $3,172,176 |
| Investment income | $678,358 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $212,973 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $29,881,369 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,608,863 |
| Grants and other assistance to domestic individuals. | $32,500 |
| 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 | $3,393,259 |
| Pension plan accruals and contributions | $148,405 |
| Other employee benefits | $874,175 |
| Payroll taxes | $252,391 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $99,402 |
| Fees for services: Accounting | $49,425 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $46,028 |
| Fees for services: Other | $6,137,491 |
| Advertising and promotion | $721,842 |
| Office expenses | $339,647 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $122,717 |
| Travel | $177,380 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $351,074 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,920 |
| Insurance | $50,462 |
| All other expenses | $0 |
| Total functional expenses | $21,711,220 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,386,252 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,739,370 |
| 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 | $1,736,405 |
| Net Land, buildings, and equipment | $39,079 |
| Investments—publicly traded securities | $12,280,331 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $259,008 |
| Total assets | $26,440,445 |
| Accounts payable and accrued expenses | $985,612 |
| 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 | $259,008 |
| Total liabilities | $1,244,620 |
| Net assets without donor restrictions | $7,830,147 |
| Net assets with donor restrictions | $17,365,678 |
| 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 | $26,440,445 |
Grants Awarded
Over the last fiscal year, The Mind Trust Inc has awarded $8,553,863 in support to 52 organizations.
| Grant Recipient | Amount |
|---|---|
74 MEDIA INC PURPOSE: SEE ATTACHED | $85,750 |
ADELANTE SCHOOLS INC PURPOSE: SEE ATTACHED | $710,000 |
ALLEGIANT PREP ACADEMY PURPOSE: SEE ATTACHED | $56,000 |
ASIAN AMERICAN ALLIANCE INC PURPOSE: SEE ATTACHED | $10,000 |
ASPIRE HIGHER FOUNDATION PURPOSE: SEE ATTACHED | $30,000 |
BELIEVE SCHOOLS INC PURPOSE: SEE ATTACHED | $558,325 |