Gray Matter Experience
- Assets
- $629.8k
- Revenue
- $714.2k
- Investments
- $0.0
- Employees
- 5
- Location
- Chicago, IL
- Founding
- 06/2016
- Data as of
- 02/2024
- EIN
- 81-1936438
Organization Overview
Gray Matter Experience is located in Chicago, IL. The organization was established in 2016. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 02/2024, Gray Matter Experience employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gray Matter Experience 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 02/2024, Gray Matter Experience generated $714.2k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 35.9% each year . All expenses for the organization totaled $875.5k during the year ending 02/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE GRAY MATTER EXPERIENCE INSPIRES, EDUCATES, AND EMPOWERS THE NEXT GENERATION OF BLACK CHANGEMAKERS BY BRIDGING ENTREPRENEURIAL KNOWLEDGE GAP AND DRIVING POSITIVE COMMUNITY CHANGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GRAY MATTER EXPERIENCE EMPOWERS YOUNG BLACK PEOPLE, AGES 12-24, TO DISRUPT THE STATUS QUO, MOBILIZE INNOVATIVE IDEAS, AND CHAMPION THEIR COMMUNITIES. FOR THE GRAY MATTER EXPERIENCE, ENTREPRENEURSHIP IS NOT JUST A CAREER. SINCE 2016, THEY'VE SUPPORTED MORE THAN 2,000 YOUNG PEOPLE THROUGH PERSONAL DEVELOPMENT, BUSINESS EDUCATION, AND NURTURING THEIR COMMITMENT TO SOCIAL IMPACT. THEIR PROGRAMS OFFER A NATIONALLY-RECOGNIZED CURRICULUM, DESIGNED BY BLACK LEADERS, THAT CULTIVATES THE ENTREPRENEURIAL MINDSET - AN APPROACH THAT EMBRACES INNOVATION, AUTHENTIC LEADERSHIP, AND A PROACTIVE DRIVE TO SOLVE CHALLENGES ACROSS ALL CAREER PATHS.THE GRAY MATTER EXPERIENCE'S ENGAGING TUITION-FREE PROGRAMS, NATIONAL PARTNERSHIPS, AND COMMUNITY OF ALLIES ENSURE THAT CURIOUS CREATORS AND BUDDING VISIONARIES ARE EQUIPPED WITH ESSENTIAL SKILLS, RELATIONSHIPS, AND RESOURCES TO BECOME AGENTS OF CHANGE AND THRIVE IN A GLOBAL ECONOMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Seth Green Vice Chair | OfficerTrustee | 5 | $0 |
Chika Umeadi Chair | OfficerTrustee | 5 | $0 |
Layla Lumpkin Treasurer | OfficerTrustee | 5 | $0 |
Pamela Randle Secretary | OfficerTrustee | 5 | $0 |
Britney Robbins Founder And CEO | OfficerTrustee | 60 | $171,710 |
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 | $665,777 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $665,777 |
| Total Program Service Revenue | $45,342 |
| 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 | $714,241 |
| 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. | $171,710 |
| Compensation of current officers, directors, key employees. | $85,855 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $238,754 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $25,418 |
| Payroll taxes | $33,640 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,445 |
| Fees for services: Accounting | $33,021 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,354 |
| Advertising and promotion | $34,089 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $53,988 |
| Travel | $5,718 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,711 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,771 |
| Insurance | $2,991 |
| All other expenses | $6,429 |
| Total functional expenses | $875,523 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $620,689 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $7,413 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,650 |
| Total assets | $629,752 |
| Accounts payable and accrued expenses | $1,568 |
| 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 | $9,128 |
| Total liabilities | $10,696 |
| Net assets without donor restrictions | $496,264 |
| Net assets with donor restrictions | $122,792 |
| 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 | $629,752 |