Bing Youth Institute Inc
- Assets
- $656.9k
- Revenue
- $230.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 03/2015
- Data as of
- 12/2021
- EIN
- 47-2393025
Organization Overview
Bing Youth Institute Inc is located in Detroit, MI. The organization was established in 2015. According to its NTEE Classification (O30) the organization is classified as: Adult & Child Matching Programs, under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bing Youth Institute 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 12/2021, Bing Youth Institute Inc generated $230.0k 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 (12.3%) each year. All expenses for the organization totaled $325.1k during the year ending 12/2021. 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 CREATE A MEANINGFUL EXPERIENCE THAT WILL HELP TO UNLEASH THE UNLIMITED POTENTIAL OF URBAN YOUNG MEN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021,THE BING YOUTH INSTITUTE CELEBRATED ITS 6TH CONSECUTIVE YEAR OF 100% GRADUATION OF ITS HIGH SCHOOL SENIORS WHO PARTICIPATED IN THE BINGO MENTORING PROGRAM. IN ADDITION, BYI INCREASED THE NUMBER OF 7TH-8TH GRADERS PARTICIPATING IN THE PROGRAM BY 20% AS A RESULT OF GRADUATION AND INCREASE IN NUMBER OF MENTORS RECRUITED. AND FINALLY, BYI ADDED A SKILLED TRADES/WORKFORCE DEVELOPMENT COMPONENT TO ITS PROGRAM SERVICE OFFERINGS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Warfield Treasurer | OfficerTrustee | 40 | $100,500 |
Dave Bing President | OfficerTrustee | 20 | $12,000 |
Peter Remington Secretary | OfficerTrustee | 10 | $0 |
Matt Simoncini Member | Trustee | 10 | $0 |
Jim Comer Member | Trustee | 10 | $0 |
Nicolette Lewis Member | Trustee | 10 | $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 | $214,725 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $214,725 |
| Total Program Service Revenue | $0 |
| Investment income | $15,261 |
| 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 | $229,986 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,000 |
| 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. | $112,500 |
| Compensation of current officers, directors, key employees. | $12,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $23,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $417 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,100 |
| Office expenses | $25,786 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,009 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $55,978 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,297 |
| All other expenses | $0 |
| Total functional expenses | $325,119 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $168,597 |
| Savings and temporary cash investments | $488,265 |
| 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 | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $656,862 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $656,862 |
| 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 | $656,862 |
Grants Awarded
Over the last fiscal year, Bing Youth Institute Inc has awarded $5,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
JALEN ROSE LEADERSHIP ACADEMY PURPOSE: CONTRIBUTION | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Bing Youth Institute Inc has recieved totaling $81,250.
| Awarding Organization | Amount |
|---|---|
Kresge Foundation Troy, MI PURPOSE: THIS GRANT PROVIDES GENERAL OPERATING SUPPORT TO IMPROVE LIFE OUTCOMES FOR BOYS AND MEN OF COLOR IN DETROIT AS PART OF A COLLABORATION BETWEEN KRESGES DETROIT PROGRAM AND THE BOYS AND MEN OF COLOR WORKING GROUP. | $50,000 |
Dte Energy Foundation Detroit, MI PURPOSE: EMPLOYMENT | $20,000 |
S A Y Detroit Southfield, MI PURPOSE: SUPPORT URBAN YOUNG MEN | $10,000 |
Doris J Duchene And Donald L Duchene Sr Foundation Grosse Pointe, MI PURPOSE: GENERAL SUPPORT | $1,250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Starfish Inc Indianapolis, IN | $417,636 | $786,972 |
Covenant Community Development Corporation Fort Wayne, IN | $650,557 | $1,081,632 |
Life Essentials Inc Dayton, OH | $0 | $415,481 |
Best Friends of Neenah-Menasha In Neenah, WI | $295,778 | $397,727 |
Big Brothers Big Sisters Of Greater Cleveland Columbus, OH | $1,033,301 | $464,302 |
Joshua And Caleb Leadership Centre Of Xcellence Jclcx Brecksville, OH | $130,600 | $490,922 |
Bing Youth Institute Inc Detroit, MI | $656,862 | $229,986 |
Mentor Greater Milwaukee Inc Milwaukee, WI | $388,494 | $443,907 |
Trusted Mentors Inc Indianapolis, IN | $169,757 | $248,023 |
Cardinal Parents Club Of Mentor Inc Mentor, OH | $135,038 | $185,520 |
Kinship Of Polk County Inc Balsam Lake, WI | $396,541 | $228,462 |
The House Of Kings And Priests Inc Milwaukee, WI | $39,915 | $191,317 |