Young Masterminds Initiative
- Assets
- $37.7k
- Revenue
- $60.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Brooklyn, NY
- Founding
- 01/2020
- Data as of
- 12/2021
- EIN
- 83-1429530
Organization Overview
Young Masterminds Initiative is located in Brooklyn, NY. The organization was established in 2020. According to its NTEE Classification (O50) the organization is classified as: Youth Development 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. Young Masterminds Initiative 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, Young Masterminds Initiative generated $60.5k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 15.4% each year . All expenses for the organization totaled $56.4k 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
THE YOUNG MASTERMIND INITIATIVE PROMORES MENTORING, LEADERSHIP AND POSITIVE SELF-AWARENESS BY CREATING UNIQUE EXPERIENCES THAT TEACH YOUNG MEN OF COLOR ABOUT THE VALUE OF BROTHERHOOD, COMMUNITY, AND THE PURSUIT OF EXCELLENCE. WE AIM TO LEAVE A LIFELONG IMPRESSION ON PARTI
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAMPING TO CONNECT IS AN EXPERIENTIAL LEARNING AND MENTORSHIP PROGRAM THAT ADDRESSES THE ISSUE OF NATURE DEFICIENCY IN URBAN YOUTH.
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PDF Copies of 990 Filings
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $60,511 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $60,511 |
| 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 | $60,511 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $0 |
| Fees for services: Legal | $1,500 |
| Fees for services: Accounting | $1,262 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,344 |
| Advertising and promotion | $1,133 |
| Office expenses | $0 |
| Information technology | $2,323 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,580 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,380 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,730 |
| All other expenses | $2,332 |
| Total functional expenses | $56,427 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,653 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $37,653 |
| 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 | $37,653 |
| 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 | $37,653 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Young Masterminds Initiative has recieved totaling $45,000.
| Awarding Organization | Amount |
|---|---|
National Park Foundation Washington, DC PURPOSE: Connect | $25,000 |
Patagonia Org Ventura, CA PURPOSE: TO SUPPORT ENVIRONMENTAL PROJECTS. | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Deal Sephardic Youth Center Inc Oakhurst, NJ | $15,545,893 | $7,918,218 |
Exalt Youth New York, NY | $8,260,540 | $8,836,761 |
Nyc Kids Rise Inc Long Island City, NY | $4,984,268 | $4,157,127 |
Urban Dove Inc Long Island City, NY | $5,170,319 | $5,441,041 |
Horizons National Student Enrichment Program Inc Westport, CT | $6,013,839 | $4,724,137 |
Zichron Chaim Inc Monsey, NY | $8,440,547 | $4,476,093 |
Youthbuild Newark Newark, NJ | $8,371,396 | $7,058,437 |