Thurgood Marshall College Fund Inc
- Assets
- $124.3m
- Revenue
- $77.8m
- Investments
- $226.0k
- Employees
- 184
- Location
- Washington, DC
- Founding
- 12/1993
- Data as of
- 12/2023
- EIN
- 41-1750692
Organization Overview
Thurgood Marshall College Fund Inc is located in Washington, DC. The organization was established in 1993. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2023, Thurgood Marshall College Fund Inc employed 184 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Thurgood Marshall College Fund 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 12/2023, Thurgood Marshall College Fund Inc generated $77.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 20.5% each year . All expenses for the organization totaled $71.1m during the year ending 12/2023. While expenses have increased by 18.8% per year over the past 8 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.
Since 2016, Thurgood Marshall College Fund Inc has awarded 243 individual grants totaling $110,580,115. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING LEADERSHIP DEVELOPMENT, SCHOLARSHIPS, AND ADVOCACY TO PREPARE NEW LEADERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS AND GRANTS: THE SCHOLARSHIP PROGRAM PROVIDES MERIT-BASED SCHOLARSHIPS TO STUDENTS SEEKING FINANCIAL ASSISTANCE TO COMPLETE THEIR EDUCATION. TMCF SCHOLARSHIPS ARE AWARDED ANNUALLY TO STUDENTS MEETING THE TMCF ELIGIBILITY CRITERIA. AWARDS ARE MADE EACH SEMESTER BASED ON A VERIFICATION PROCESS DESIGNED TO ENSURE THAT STUDENTS ARE MEETING HIGH EXPECTATIONS AND HAVE AN UNMET FINANCIAL NEED.THE TMCF INTERNSHIP PROGRAM IS MANAGED BY THE TALENT ACQUISITION DIVISION AND SEEKS STUDENTS WHO ATTEND MEMBER-SCHOOLS AND MAINTAIN A MINIMUM GPA OF 3.0. MEMBERS OF THE DIVISION SERVE AS LIAISONS AND PROVIDE SUPPORT TO STUDENTS THROUGHOUT THE INTERNSHIP PROGRAM. SEE SCHEDULE O FOR CONTINUATION
LEADERSHIP TRAINING AND SEMINARS: THE TEACHER QUALITY AND RETENTION PROGRAM (TQRP) WAS DESIGNED TO HELP TEACHERS ENHANCE THE LEARNING EXPERIENCE OF STUDENTS. NOW, MORE THAN EVER, OUR STUDENTS NEED QUALIFIED TEACHERS WHO CAN HELP THEM OVERCOME CHALLENGING SCHOOL ENVIRONMENTS AND ACHIEVE ACADEMIC AND PERSONAL SUCCESS. HISTORICALLY BLACK COLLEGES AND UNIVERSITIES (HBCU'S) GRADUATE MORE MINORITY TEACHERS THAN ANY OTHER SOURCE.TQRP PROVIDES A ONE-WEEK SUMMER INSTITUTE DESIGNED TO GIVE EDUCATION MAJORS EXPERIENCE IN THE APPLICATION OF EDUCATIONAL THEORIES AND PRACTICES. SEE SCHEDULE O FOR CONTINUATION
TM2 SEARCH: TM2 EDUCATION SEARCH PROVIDES RETAINED SEARCH AND LEADERSHIP DEVELOPMENT SERVICES DESIGNED TO HELP BUILD AND DEVELOP SUSTAINABLE LEADERSHIP AND BOARDS. SPECIFICALLY, OUR SEARCHES FOCUS ON THE FOLLOWING POSITIONS: BOARD OF TRUSTEES, PRESIDENTS & CHANCELLORS, PROVOSTS, DEANS, AND THE EXECUTIVE LEVEL OF INSTITUTIONS IN THE BLACK COLLEGE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Merinoff Chair | OfficerTrustee | 1 | $0 |
Ciara Anfield Director | Trustee | 1 | $0 |
Terry Arnold Director | Trustee | 1 | $0 |
Gary Bettman Director | Trustee | 1 | $0 |
Greg Carter II Director | Trustee | 1 | $0 |
Theodore Colbert III Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tyton Partners Consulting Llc Tmcf Org Research | 12/30/23 | $556,600 |
Acue(association Of College And Universi Microcredential Cohort/facilitation | 12/30/23 | $320,250 |
Bureau Of Creative Intelligence Designing/engineering | 12/30/23 | $268,503 |
Partnership For Education Advancement Ptf Aggregate Shared Service Pool | 12/30/23 | $251,359 |
Mode Conference/dinner Staging | 12/30/23 | $256,672 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $58,750 |
| Fundraising events | $602,575 |
| Related organizations | $0 |
| Government grants | $413,485 |
| All other contributions, gifts, grants, and similar amounts not included above | $75,267,302 |
| Noncash contributions included in lines 1a–1f | $16,504 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $76,342,112 |
| Total Program Service Revenue | $288,350 |
| Investment income | $1,470,915 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$327,493 |
| Net Income from Fundraising Events | -$3,350 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $77,840,126 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,170,996 |
| Grants and other assistance to domestic individuals. | $19,222,497 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,490,450 |
| Compensation of current officers, directors, key employees. | $1,153,004 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,202,209 |
| Pension plan accruals and contributions | $397,101 |
| Other employee benefits | $1,890,821 |
| Payroll taxes | $629,679 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $51,340 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $156,304 |
| Fees for services: Other | $5,327,302 |
| Advertising and promotion | $418,782 |
| Office expenses | $1,094,133 |
| Information technology | $1,348,274 |
| Royalties | $0 |
| Occupancy | $340,862 |
| Travel | $8,267,038 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,731,064 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $107,043 |
| All other expenses | $0 |
| Total functional expenses | $71,051,129 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,686,389 |
| Savings and temporary cash investments | $3,461,432 |
| Pledges and grants receivable | $24,681,372 |
| Accounts receivable, net | $39,502 |
| 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 | $44,061 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $47,477,644 |
| Investments—other securities | $226,006 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,671,328 |
| Total assets | $124,287,734 |
| Accounts payable and accrued expenses | $2,703,410 |
| 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 | $2,933,979 |
| Total liabilities | $5,637,389 |
| Net assets without donor restrictions | $39,126,297 |
| Net assets with donor restrictions | $79,524,048 |
| 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 | $124,287,734 |
Grants Awarded
Over the last fiscal year, Thurgood Marshall College Fund Inc has awarded $16,170,996 in support to 38 organizations.
| Grant Recipient | Amount |
|---|---|
ALABAMA A&M UNIVERSITY FOUNDATION PURPOSE: Boeing Capacity Grant | $25,000 |
ALABAMA A&M UNIVERSITY PURPOSE: 2022-2023 Apple New Silicon Initiative (NSI) Grant | $416,667 |
CENTRAL STATE UNIVERSITY PURPOSE: Covid-19 Education Grant | $32,610 |
DELAWARE STATE UNIVERSITY FOUNDATION INC PURPOSE: DSU Near Completers Pilot | $77,000 |
DELAWARE STATE UNIVERSITY FOUNDATION INC PURPOSE: DSU Near Completers Pilot | $107,000 |
ELIZABETH CITY STATE UNIVERSITY FOUNDATION PURPOSE: COVID 19: ECSU-Welcome Center/One-Stop Shop Technology Enhancements | $75,000 |