Minds Matter
- Assets
- $1.7m
- Revenue
- $984.0k
- Investments
- $0.0
- Employees
- 4
- Location
- Boston, MA
- Founding
- 11/2004
- Data as of
- 06/2021
- EIN
- 51-0494632
Organization Overview
Minds Matter is located in Boston, MA. 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 4 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 $984.0k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 25.7% each year . All expenses for the organization totaled $563.8k during the year ending 06/2021. While expenses have increased by 21.2% 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
MINDS MATTER CONNECTS DRIVEN AND DETERMINED STUDENTS FROM LOW-INCOME FAMILIES WITH THE PEOPLE, PREPARATION, AND POSSIBILITIES TO SUCCEED IN COLLEGE, CREATE THEIR FUTURE, AND CHANGE THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
100% OF MINDS MATTER BOSTON SENIORS GAINED ADMISSION TO A FOUR YEAR COLLEGE AND76% WERE ACCEPTED TO A COLLEGE IN BARRON'S 3+ TIERS. SENIORS WERE ALSO AWARDED 1.2 MILLION DOLLARS IN FIRST-YEAR FINANCIAL AID FOR COLLEGE, COVERING 92% OF THEIR FINANCIAL-NEED. APPROXIMATELY 96% OF OUR ALUMNI ARE STILL ENROLLED OR HAVE GRADUATED FROM A FOUR-YEAR COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rachel Kanter Executive Dir. | Officer | 40 | $114,998 |
Nate Ott Co-Chair | OfficerTrustee | 2.5 | $0 |
Joe Fanning Treasurer | OfficerTrustee | 2.5 | $0 |
Meaghan Mahoney Co-Chair | OfficerTrustee | 2.5 | $0 |
Michael Pugatch Secretary | OfficerTrustee | 2.5 | $0 |
Tamy-Fee Meneide Director | Trustee | 2.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $38,487 |
| All other contributions, gifts, grants, and similar amounts not included above | $942,576 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $981,063 |
| Total Program Service Revenue | $0 |
| 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 | $983,997 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $33,101 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $124,567 |
| Compensation of current officers, directors, key employees. | $31,142 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $188,327 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $34,603 |
| Payroll taxes | $32,031 |
| 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 | $27,455 |
| Advertising and promotion | $0 |
| Office expenses | $4,247 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $290 |
| 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 | $22,761 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $563,824 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,646,758 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26,270 |
| 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 | $675 |
| Total assets | $1,673,703 |
| Accounts payable and accrued expenses | $77,353 |
| 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 | $58,987 |
| Other liabilities | $0 |
| Total liabilities | $136,340 |
| Net assets without donor restrictions | $1,537,363 |
| 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 | $1,673,703 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Minds Matter has recieved totaling $72,669.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $30,939 |
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Education | $11,000 |
Life Science Cares Inc Cambridge, MA PURPOSE: DONATION TO ASSIST THE NONPROFIT | $10,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $6,380 |
Highfield Foundation Cincinnati, OH PURPOSE: PROJECT/PROGRAM SUPPORT | $6,000 |
Heron Oaks Foundation Cincinnati, OH PURPOSE: PROJECT/PROGRAM SUPPORT | $5,600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Imentor Incorporated New York, NY | $37,583,739 | $20,234,827 |
Good Sports Inc Braintree, MA | $15,718,989 | $17,640,081 |
Vermont Permanency Initiative Inc Plymouth, NH | $11,154,700 | $16,308,251 |
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 |
Childrens Workshop Foundation Central Falls, RI | $4,705,230 | $8,734,108 |
Exalt Youth New York, NY | $8,260,540 | $8,836,761 |