Foundation For Minority Interests In Media Inc
- Assets
- $3.7m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 11
- Location
- Katonah, NY
- Founding
- 09/1985
- Data as of
- 12/2023
- EIN
- 22-2635292
Organization Overview
Foundation For Minority Interests In Media Inc, operating under the name The Emma Bowen Foundation, is located in Katonah, NY. The organization was established in 1985. According to its NTEE Classification (A30) the organization is classified as: Media & Communications, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Emma Bowen Foundation employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Emma Bowen 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, Emma Bowen Foundation generated $2.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $2.1m 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
THE CHIEF OBJECTIVE OF THE FOUNDATION FOR MINORITY INTERESTS IN MEDIA, INC IS TO CONDUCT ACTIVITIES WHICH ARE EXCLUSIVELY CHARITABLE AND EDUCATIONAL WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, FOR THE PURPOSE OF EDUCATING AND MENTORING INDIVIDUALS OF COLOR IN THE FIELD OF COMMUNICATIONS LEADING TO EMPLOYMENT OPPORTUNITIES IN THE COMMUNCATIONS INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION FOR MINORITY INTERESTS IN MEDIA FELLOWSHIP PROGRAM INCLUDES A COMPONENT FOR SCHOLARSHIPS. ALL STUDENTS ACTIVELY PARTICIPATING IN THE PROGRAM WHO DEMONSTRATE FINANCIAL NEED ARE ELIGIBLE FOR SCHOLARSHIP FUNDS UP TO A MAXIMUM CAP DETERMINED BY THE ORGANIZATION. SPECIFIC PROGRAMS INCLUDE THE LAUNCH PROGRAM AND THE ANNUAL CONFERENCE. LAUNCH PREPARES EMMA BOWEN SENIORS TO ENTER THE WORKFORCE THROUGH GROUP AND INDIVIDUAL MENTORING, INTERVIEW PREP, JOB SEARCH GUIDANCE, AND MORE. THE ANNUAL SUMMER CONFERENCE INTRODUCES STUDENTS TO ALL OF EBF'S PARTNER COMPANIES, AS WELL AS CONNECTS PARTNERS TO EBF'S VIBRANT TALENT COMMUNITY, WHICH INCLUDES INTERNS AT OTHER EBF PARTNER COMPANIES, ALUMNI, AND MEMBERS OF THE ALL MULTICULTURAL MEDIA PROFESSIONALS ("AMMP") NETWORK.
OTHER PROGRAM SERVICES.
THE FOUNDATION ALSO HAS PROGRAMS GEARED TOWARDS ESTABLISHED PROFESSIONALS IN THE INDURSTY. THE EARLY CAREER LEADERSHIP ("ECL")COACHING PROGRAM EQUIPS YOUNG TALENT IN THE MEDIA, ENTERTAINMENT AND TECHNOLOGY INDUSTRIES WITH TOOLS TO MANAGE THEIR CAREERS, NAVIGATE THE WORLD OF BUSINESS AND DEVELOP THE LEADERSHIP SKILLS THAT ARE NECESSARY TO ACHIEVE THEIR GOALS.
TO ENGAGE EXECUTIVES AND LEADERS IN THE FIELD, THE ORGANIZATION HAS ESTABLISHED EBF COUNCILS. THESE ARE DISCIPLINE FOCUSED GROUPS DESIGNED TO GIVE SPACE FOR EBF ADVISORY COUNCIL MEMBERS TO ENGAGE MORE CONSISTENTLY WITH THE EBF COMMUNITY AND STAY REGULARLY INFORMED OF EBF ACTIVITIES. EBF COUNCILS WILL PROVIDE EXECUTIVES AND LEADERS IN THE FIELD WITH AN OPPORTUNITY TO SHARE KNOWLEDGE AND BEST PRACTICES, PROVIDE FEEDBACK ON THE EFFECTIVENESS OF RELEVANT EBF PROGRAMS, STRENGTHEN CONNECTIONS TO PEERS IN THE EBF COMMUNITY, AND HELP EBF BUILD MEANINGFUL PROGRAMMING FOR STUDENTS AND ALUMNI.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nikki Bethel CEO | Officer | 50 | $245,250 |
Michael G Barham COO | Officer | 50 | $158,519 |
Ayia Gospodinova VP Business | Officer | 50 | $141,092 |
Robert Apter Treasurer | OfficerTrustee | 2 | $0 |
Katherine Barnett Chairman | OfficerTrustee | 2 | $0 |
Niija Kuykendall Vice Chairwo | OfficerTrustee | 2 | $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 | $1,947,029 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,947,029 |
| Total Program Service Revenue | $0 |
| Investment income | $97,662 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$35,599 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,009,092 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $406,000 |
| 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 | $1,070,700 |
| Pension plan accruals and contributions | $70,158 |
| Other employee benefits | $117,468 |
| Payroll taxes | $78,152 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,730 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,983 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $62,912 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $23,339 |
| 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 | $8,136 |
| All other expenses | $6,984 |
| Total functional expenses | $2,117,874 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $975,945 |
| Pledges and grants receivable | $86,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $154,837 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,527,467 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,744,249 |
| Accounts payable and accrued expenses | $73,921 |
| 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 | $73,921 |
| Net assets without donor restrictions | $3,588,223 |
| Net assets with donor restrictions | $82,105 |
| 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 | $3,744,249 |