Mustard Seed Development Center
- Assets
- $447.0k
- Revenue
- $310.6k
- Investments
- $0.0
- Employees
- 11
- Location
- Akron, OH
- Founding
- 07/2000
- Data as of
- 12/2022
- 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 12/2022, 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 12/2022, Mustard Seed Development Center generated $310.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (15.0%) each year. All expenses for the organization totaled $465.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (8.3%) per year over the past 6 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRE-PURCHASE HOUSING COUNSELING PROGRAM: THIS PROGRAM CONSISTS OF HOMEBUYER SEMINARS ALONG WITH ONE-TO-ONE COUNSELING SESSIONS THAT FOCUS ON EDUCATING FAMILIES REGARDING THE PURCHASE AND/OR RENTAL OF A HOME AND OVERCOMING BARRIERS THAT CONTRIBUTE TO SUB-STANDARD HOUSING. FINANCIAL LITARACY 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mintoree Stokes Executive Director | OfficerTrustee | 40 | $60,000 |
Sandra Heard Board Chair | OfficerTrustee | 5 | $0 |
Denise Hicks Executive Member | Trustee | 5 | $0 |
Yvette Brockman Board Member | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,500 |
| Total Program Service Revenue | $296,799 |
| 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 | $310,553 |
| 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. | $157,786 |
| Compensation of current officers, directors, key employees. | $20,512 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $123,864 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,801 |
| Payroll taxes | $49,584 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,697 |
| Advertising and promotion | $0 |
| Office expenses | $10,935 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,058 |
| Travel | $91 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,590 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,640 |
| Insurance | $5,267 |
| All other expenses | $0 |
| Total functional expenses | $465,730 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $230,969 |
| 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 | $207,438 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $8,607 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $447,014 |
| Accounts payable and accrued expenses | $153,054 |
| 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 | $103 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $512,590 |
| Other liabilities | $675 |
| Total liabilities | $673,922 |
| Net assets without donor restrictions | $0 |
| 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 | -$226,908 |
| Total liabilities and net assets/fund balances | $447,014 |