Mustard Seed Development Center
- Assets
- $215.1k
- Revenue
- $358.1k
- Investments
- $0.0
- Employees
- 11
- Location
- Akron, OH
- Founding
- 07/2000
- Data as of
- 12/2021
- EIN
- 34-1920318
Organization Overview
Mustard Seed Development Center is located in Akron, OH. The organization was established in 2000. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 12/2021, Mustard Seed Development Center employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mustard Seed Development Center 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 12/2021, Mustard Seed Development Center generated $358.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (11.2%) each year. All expenses for the organization totaled $298.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (12.9%) per year over the past 7 years. 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
FORM 990 - ORGANIZATION'S MISSION MUSTARD SEED DEVELOPMENT CENTER WAS FOUNDED TO SERVE THE FINANCIAL EDUCATION AND TRAINING NEEDS OF DISENFRANCHISED ADULTS IN LOW TO MODERATE INCOME HOUSEHOLDS. A MAJOR FOCUS OF THE CENTER IS ASSISTING CLIENTS IN OBTAINING AND KEEOING HOME OWNERSHIP STATUS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRE-PURCHASE HOUSING COUNSELING PROGRAM: THIS PROGRAM CONSISTS OF HOMEBUYER SEMINARS ALONG WITH ONO-TO-ONE COUNSELING SESSIONS. THE FOCUS OF THE PROGRAM IS ON EDUCATING FAMILIES REGARDING THE PURCHASE AND/OR RENTAL OF A HOME AND ACTIVELY ASSISTING FAMILIES THROUGHOUT THE PROCESS OF DOING SO. THE SERVICES PROVIDED ARE INTENDED TO ASSIST FAMILIES IN OVERCOMING BARRIERS THAT CONTRIBUTE TO SUB-STANDARD HOUSING. FINANCIAL LITERACY PROGRAM: A MIX OF ONE-TO-ONE COUNSELING SESSIONS AND GROUP SEMINARS WHICH ASSIST LOW TO MODERATE INCOME CLIENTS IN OVERCOMING FINANCIAL AND CREDIT ISSUES INCLUDING NEGATIVE CASH FLOW, UNRESOLVED CREDIT ISSUES, AND BUDGETING. A MAJOR FOCAL POINT OF THE PROGRAM IS ON REDUCING OR
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mintoree Stokes Executive Di | OfficerTrustee | 25 | $16,923 |
Sandra Heard Board Chair | OfficerTrustee | 5 | $0 |
Audrey Mcclain Treasurer | OfficerTrustee | 5 | $0 |
Yvette Brockman Board Member | Trustee | $0 | |
Denise Hicks Executive Me | Trustee | 5 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $346,750 |
| 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 | $358,100 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $88,919 |
| Compensation of current officers, directors, key employees. | $30,284 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $78,213 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,276 |
| Payroll taxes | $14,832 |
| Fees for services: Management | $49,121 |
| Fees for services: Legal | $690 |
| Fees for services: Accounting | $5,255 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $8,677 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,371 |
| Travel | $708 |
| 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 | $1,760 |
| All other expenses | $0 |
| Total functional expenses | $298,555 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,395 |
| Savings and temporary cash investments | $0 |
| 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 | $179,249 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $406 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $215,050 |
| Accounts payable and accrued expenses | $232,282 |
| Grants payable | $0 |
| Deferred revenue | $7,500 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $22,561 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $24,437 |
| Total liabilities | $286,780 |
| Net assets without donor restrictions | -$71,730 |
| 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 | $215,050 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mustard Seed Development Center has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Akron Community Foundation Akron, OH PURPOSE: TO IMPROVE THE RENTAL HOUSING MARKET ACROSS THE CITY OF AKRON BY SUPPORTING A CONFERENCE FOR OVER 200 HOUSING PROFESSIONALS AND LANDLORDS | $5,000 |
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