Minds Matter
- Assets
- $2.2m
- Revenue
- $1.6m
- Investments
- $930.2k
- Employees
- 7
- Location
- New York, NY
- Founding
- 11/2004
- Data as of
- 06/2021
- EIN
- 32-0191502
Organization Overview
Minds Matter is located in New York, NY. The organization was established in 2004. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. As of 06/2021, Minds Matter employed 7 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Minds Matter 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 06/2021, Minds Matter generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.6% each year . All expenses for the organization totaled $1.1m during the year ending 06/2021. While expenses have increased by 8.3% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO TRANSFORM THE LIVES OF ACCOMPLISHED HIGH SCHOOL STUDENTS FROM LOW-INCOME FAMILIES BY BROADENING THEIR DREAMS AND PREPARING THEM FOR COLLEGE SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MINDS MATTER NYC CONTINUED TO SERVE UNDER-RESOURCED STUDENTS DURING THE COVID-19 PANDEMIC, PROVIDING REMOTE SESSIONS FOR THE JUNIOR AND SENIOR CLASSES THROUGHOUT THE YEAR. BECAUSE OF THE PANDEMIC, MINDS MATTER NYC DELAYED WELCOMING A NEW SOPHOMORE CLASS INTO THE COMMUNITY UNTIL FEBRUARY 2022. DESPITE PANDEMIC-IMPOSED RESTRICTIONS AND THE CONTINUING EFFECTS OF COVID-19 IN THE LIVES OF STUDENTS, MINDS MATTER NYC GRADUATED 100% OF ITS SENIOR CLASS INTO THEIR BEST-FIT COLLEGES AND UNIVERSITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erika Halstead Director | Officer | 40 | $137,829 |
Deborah Beckman Chair | OfficerTrustee | 5 | $0 |
David Brisske Vice Chair | OfficerTrustee | 5 | $0 |
Sanjeev Parlikar Vice Chair | OfficerTrustee | 5 | $0 |
Minahaj Patel Treasurer | OfficerTrustee | 5 | $0 |
Andrew Jacobi Secretary | 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 | $1,601,688 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,601,688 |
| Total Program Service Revenue | $0 |
| Investment income | $12,162 |
| 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 | $1,613,850 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $180,880 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $114,298 |
| Compensation of current officers, directors, key employees. | $38,100 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $443,984 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $55,761 |
| Payroll taxes | $38,370 |
| 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 | $19,068 |
| Advertising and promotion | $0 |
| Office expenses | $6,803 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $85,666 |
| 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 | $0 |
| Total functional expenses | $1,146,067 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,209,682 |
| 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 | $930,249 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $97,053 |
| Total assets | $2,236,984 |
| Accounts payable and accrued expenses | $19,837 |
| Grants payable | $43,016 |
| 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 | $128,373 |
| Other liabilities | $0 |
| Total liabilities | $191,226 |
| Net assets without donor restrictions | $1,915,773 |
| Net assets with donor restrictions | $129,985 |
| 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 | $2,236,984 |
Grants Recieved
Over the last fiscal year, we have identified 28 grants that Minds Matter has recieved totaling $377,347.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $93,740 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: EDUCATIONAL PROGRAMS & OTHER STUDENT SVC | $60,000 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $42,630 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: COMMUNITY OUTREACH & ENRICHMENT PROGRAMS | $40,000 |
The Mark And Jane Wilf Family Foundation Inc Short Hills, NJ PURPOSE: PROGRAM SUPPORT | $20,000 |
Youth Improving Non-Profits For Children New York, NY PURPOSE: See Part IV | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jpc Charities Newark, NJ | $110,330,624 | $14,483,540 |
Good Sports Inc Braintree, MA | $15,718,989 | $17,640,081 |
Exploration School Inc Norwood, MA | $30,976,539 | $12,294,773 |
West Side Center For Community Life Inc New York, NY | $9,114,399 | $14,422,692 |
Camp Harbor View Foundation Inc Boston, MA | $69,208,202 | $14,199,041 |
Utec Inc Lowell, MA | $20,133,809 | $14,604,530 |
Shira Association Inc Brooklyn, NY | $274,073 | $8,368,956 |
Chdfs Inc New York, NY | $4,427,558 | $6,216,072 |
Metropolitan Development Center Inc Brooklyn, NY | $2,978,131 | $7,487,789 |
Deal Sephardic Youth Center Inc Oakhurst, NJ | $15,545,893 | $7,918,218 |
Exalt Youth New York, NY | $8,260,540 | $8,836,761 |
Nyc Kids Rise Inc Long Island City, NY | $4,984,268 | $4,157,127 |