Minds Matter Bay Area Inc
- Assets
- $1.6m
- Revenue
- $982.5k
- Investments
- $0.0
- Employees
- 1
- Location
- San Francisco, CA
- Founding
- 11/2004
- Data as of
- 06/2022
- EIN
- 27-3077640
Organization Overview
Minds Matter Bay Area Inc is located in San Francisco, CA. The organization was established in 2004. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Minds Matter Bay Area 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 06/2022, Minds Matter Bay Area Inc generated $982.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.3% each year . All expenses for the organization totaled $531.7k during the year ending 06/2022. While expenses have increased by 15.1% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
MINDS MATTER BAY AREA (MMBAY) IS AN EDUCATION NONPROFIT THAT GUIDES DRIVEN YET UNDERSERVED STUDENTS TO GRADUATE FROM THE NATIONS MOST SELECTIVE COLLEGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOPHOMORE PROGRAM: TO PROVIDE EACH MENTEE WITH EDUCATIONAL OPPORTUNITIES AND MENTORING TO PREPARE THEM FOR APPLYING AND GAINING ACCEPTANCE INTO A FOUR-YEAR UNIVERSITY. THE ORGANIZATION FUNDED THE COST OF SUMMER STUDY PROGRAMS FOR STUDENTS WHICH INCLUDED TUITION AND TRAVEL EXPENSES FOR LOW INCOME HIGH SCHOOL SOPHOMORES.JUNIOR PROGRAM: TO PROVIDE EACH MENTEE WITH EDUCATIONAL OPPORTUNITIES AND MENTORING TO PREPARE THEM FOR APPLYING AND GAINING ACCEPTANCE INTO A FOUR-YEAR UNIVERSITY. THE ORGANIZATION FUNDED THE COST OF SUMMER STUDY PROGRAMS FOR STUDENTS WHICH INCLUDED TUITION AND TRAVEL EXPENSES FOR LOW INCOME HIGH SCHOOL JUNIORS.SENIOR PROGRAM IS DEDICATED TO SUPPORTING STUDENTS THROUGH THE COLLEGE APPLICATION PROCESS, WHICH INCLUDES ACADEMIC ELEMENTS OF THE SOPHOMORE AND JUNIOR PROGRAMS AS WELL AS WORKSHOPS ON FINANCIAL AID AND SCHOLARSHIPS.THE ORGANIZATION RECEIVED DONATED SERVICES FROM A VARIETY OF UNPAID VOLUNTEERS TO ASSIST PROGRAMS OR PROVIDE ADMINISTRATIVE ASSISTANCE. THE ESTIMATED HOURS OF SERVICES PROVIDED BY UNPAID VOLUNTEERS FOR THE YEAR ENDED JUNE 30, 2022 TOTALED 40,188 AND THE ESTIMATED VALUE WAS APPROXIMATELY $1,429,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Irene Shih CEO | OfficerTrustee | 40 | $161,177 |
Lee Fitzgerald Chair | OfficerTrustee | 2.5 | $0 |
Taylor Bollman Director | Trustee | 2.5 | $0 |
Jeff Brummett Director | Trustee | 2.5 | $0 |
Edith Chao Director | Trustee | 2.5 | $0 |
Todd Johnson Director | Trustee | 2.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $4,406 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $978,133 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $982,539 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $982,539 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $70,573 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $157,320 |
| Compensation of current officers, directors, key employees. | $39,330 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $63,130 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $27,529 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $54,019 |
| Office expenses | $17,768 |
| 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 | $29,161 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $531,688 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,312,334 |
| Savings and temporary cash investments | $28,090 |
| Pledges and grants receivable | $147,000 |
| 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 | $70,821 |
| 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 | $1,558,245 |
| Accounts payable and accrued expenses | $26,715 |
| 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 | $26,715 |
| Net assets without donor restrictions | $1,531,530 |
| 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 | $1,558,245 |