Management Leadership For Tomorrow
- Assets
- $41.2m
- Revenue
- $36.3m
- Investments
- $5.1m
- Employees
- 205
- Location
- Bethesda, MD
- Founding
- 11/1992
- Data as of
- 12/2023
- EIN
- 52-1795164
Organization Overview
Management Leadership For Tomorrow is located in Bethesda, MD. The organization was established in 1992. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 12/2023, Management Leadership For Tomorrow employed 205 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Management Leadership For Tomorrow 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, Management Leadership For Tomorrow generated $36.3m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 16.1% each year . All expenses for the organization totaled $41.0m during the year ending 12/2023. While expenses have increased by 19.7% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE PART III, LINE 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC MOBILITY:MLT'S UNDERGRADUATE PROGRAMS ARE DESIGNED TO FIX THE BROKEN COLLEGE-TO-CAREER TRANSITION SO THAT STUDENTS ACHIEVE THE LASTING ECONOMIC MOBILITY EXPECTED OF A COLLEGE DEGREE. THESE PROGRAMS PROVIDE UNDERGRADUATES WITH THE COACHING, CAREER PLAYBOOK, AND ACCELERATING PROFESSIONAL CONNECTIONS THEY NEED TO LAND AND SUCCEED IN CAREER PATH JOBS AFTER COLLEGE. THE PROGRAM INCLUDES INTENSIVE ONE-ON-ONE PROFESSIONAL COACHING, LEADERSHIP AND ANALYTICAL SKILL DEVELOPMENT SEMINARS LED BY PARTNER CORPORATIONS, AND ACCESS TO RECRUITERS AT SOUGHT-AFTER FIRMS.PROGRAMS INCLUDE CAREER PREP, TURNPRO, ASCEND, ALTFINANCE FELLOWSHIP, AND THE PRIVATE EQUITY ACCELERATOR
MAXIMIZING CAREER TRAJECTORIES:MLT HAS A COMPREHENSIVE APPROACH TO ADVANCING THE CAREERS OF DIVERSE TALENT ACROSS THE CAREER CONTINUUM, FROM EARLY CAREER TO SENIOR EXECUTIVE, INCLUDING IN SUPPORT OF MLT'S MORE THAN 10,000 ALUMNI. THESE PROGRAMS PROVIDE FELLOWS WITH THE COACHING, PROFESSIONAL ROADMAP, AND ACCELERATING CONNECTIONS CRITICAL TO LANDING AND SUCCEEDING IN BOTH BUSINESS SCHOOL AND IN COMPETITIVE CAREER OPPORTUNITIES. PROGRAMS INCLUDE MBA PREP, MBA PROFESSIONAL DEVELOPMENT, CAREER ADVANCEMENT PROGRAM, SENIOR EXECUTIVE LEADER FELLOWSHIP, AND THE EXPERIENCED TALENT NETWORK, AS WELL AS MLT'S ONGOING ALUMNI ENGAGEMENT EFFORTS.
EQUITABLE EMPLOYER PRACTICES:MLT PROVIDES A RANGE OF SOLUTIONS TO LEADING EMPLOYERS - DELIVERING INSIGHTS, KNOW-HOW AND TALENT THAT WILL DRIVE TANGIBLE RACIAL EQUITY OUTCOMES.THESE OFFERINGS HELPS EMPLOYERS DEVELOP AND IMPLEMENT MORE EFFECTIVE DIVERSITY STRATEGIES SO THAT THEIR WORKPLACES WORK FOR PEOPLE OF COLOR THE WAY THEY DO FOR EVERYONE ELSE. MLT HELPS ITS EMPLOYER PARTNERS: 1) UNDERSTAND THE KEY ISSUES HOLDING THEM BACK, 2) DEVELOP A RIGOROUS STRATEGY, 3) EXECUTE THEIR PLANS TO MAXIMIZE EFFECTIVENESS, AND 4) ORIENT, ENGAGE, AND ACTIVATE LEADERS AT ALL LEVELS IN TAKING RESPONSIBILITY FOR THE STRATEGY.MLT'S RACIAL EQUITY AT WORK CERTIFICATION PROVIDES A ROADMAP AND RECOGNITION FOR THIS IMPORTANT WORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
E John Rice Jr Founder / CEO | OfficerTrustee | 40 | $402,431 |
Marc Jones Chair | OfficerTrustee | 2 | $0 |
Barry L Williams Secretary | OfficerTrustee | 2 | $0 |
David Carlock Treasurer | OfficerTrustee | 2 | $0 |
Christy Haubegger Board Member | Trustee | 2 | $0 |
David Dewilde Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Liveworkstrategize Llc Career Advancement Program Support | 12/30/23 | $343,250 |
Jonah Edelman Racial Equity At Work | 12/30/23 | $262,500 |
Ems Consulting Office Of The Ceo Suupport | 12/30/23 | $232,685 |
Berkeley Coaching Institute Llc Senior Leader Fellowship | 12/30/23 | $222,500 |
Daryl M Dickson Phd Human Capital Support | 12/30/23 | $214,338 |
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 | $27,738,592 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $27,738,592 |
| Total Program Service Revenue | $7,460,588 |
| Investment income | $1,070,907 |
| 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 | $36,342,837 |
| 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. | $885,321 |
| Compensation of current officers, directors, key employees. | $237,666 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,648,241 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,356,483 |
| Payroll taxes | $1,590,576 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $92,569 |
| Fees for services: Accounting | $48,216 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,605,355 |
| Advertising and promotion | $243,181 |
| Office expenses | $15,447 |
| Information technology | $1,627,988 |
| Royalties | $0 |
| Occupancy | $174,339 |
| Travel | $868,529 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,546,777 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $777,248 |
| Insurance | $14,618 |
| All other expenses | $401 |
| Total functional expenses | $40,974,263 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,533,000 |
| Savings and temporary cash investments | $15,923,734 |
| Pledges and grants receivable | $11,755,221 |
| Accounts receivable, net | $1,022,301 |
| 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 | $399,140 |
| Net Land, buildings, and equipment | $2,255,117 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,118,382 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $175,851 |
| Total assets | $41,182,746 |
| Accounts payable and accrued expenses | $2,211,172 |
| Grants payable | $0 |
| Deferred revenue | $398,933 |
| 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 | $2,610,105 |
| Net assets without donor restrictions | $24,383,554 |
| Net assets with donor restrictions | $14,189,087 |
| 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 | $41,182,746 |