The Tulsa Initiative Inc
- Assets
- $39.0k
- Revenue
- $71.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Chevy Chase, MD
- Founding
- 11/2019
- Data as of
- 12/2021
- EIN
- 84-3179013
Organization Overview
The Tulsa Initiative Inc is located in Chevy Chase, MD. The organization was established in 2019. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tulsa Initiative Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO INTRODUCE ENTREPRENEURS TO POSITIVE ROLE MODELS, TO DEVELOP INTELLECT, AND TO BUILD POSITIVE ATTITUDES AND A HEALTHY MINDSET. WE BELIEVE THAT THROUGH THIS INITIATIVE, ENTREPRENEURIAL LEADERS WILL EMERGE AND MAKE A SIGNIFICANT POSITIVE IMPACT IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TULSA SHARK TANK CONCLUDES THE TULSA LEADERSHIP AND ENTREPRENEURSHIP ACADEMY (TLEA), IN AN EFFORT TO STIMULATE THE MINORITY COMMUNITY ECONOMICALLY BY INVESTING DIRECTLY INTO DRIVEN INDIVIDUALS WHO HAVE EXHIBITED A YEARNING TO BETTER THEMSELVES AND THEIR COMMUNITIES. THE TULSA INITIATIVE PITCH COMPETITION ALLOWS ENTREPRENEURS WHO HAVE GONE THROUGH THE TULSA LEADERSHIP & ENTREPRENEURSHIP ACADEMY TO PRESENT A BUSINESS PLAN/PITCH TO A PANEL OF SUCCESSFUL ENTREPRENEURS FOR FUNDING OPPORTUNITIES. THE TULSA INITIATIVE PITCH COMPETITION AWARDS ENTREPRENEURS THOUSANDS OF DOLLARS IN FUNDS TO JUMP-START THEIR VERY OWN VENTURE AS WELL AS GENERAL BUSINESS, IT, MARKETING ETC. CONSULTATION PACKAGES.
THE MISSION STATEMENT OF THE TULSA LEADERSHIP AND ENTREPRENEURSHIP ACADEMY IS TO INTRODUCE MILLENNIALS TO POSITIVE ROLE MODELS BREEDING INTELLECTUAL DEVELOPMENT, BUILDING POSITIVE ATTITUDES, AND A HEALTHY MINDSET WHILE DEVELOPING A CONNECTION AND SUPPORT AMONGST PEERS. THIS WILL BE ACCOMPLISHED THROUGH AN 10-WEEK PROGRAM THAT WILL FEATURE A COHORT OF 10 MEN, AGED 18-24 YEARS OLD. THE TLEA IS FOCUS ON THE FOLLOWING PILLARS IN WHICH THE PROGRAM IS BUILT UPON WITH A FOCUS ON ENTREPRENEURSHIP, AS FOLLOWS: THE HISTORY OF BLACK ENTREPRENEURSHIP, IMPORTANCE OF ENTREPRENEURSHIP IN THE COMMUNITY, UNDERSTANDING THE FOUNDATION OF BUSINESS, PERSONAL GROWTH, ETHICS & INNOVATION, UNDERSTANDING THE PITCH, & COMPETITIVE ANALYSIS, FUNDING YOUR BUSINESS,PERSONAL FINANCES, AND BUILDING YOUR TEAM. THROUGH A SERIES OF LIVE WEB CHATS AND VIDEO TAKING PLACE WEEKLY, SCHOLARS AND MENTORS WILL BE EXPOSED TO CONTENT RELATED TO THE FIVE FOCUS AREAS. SCHOLARS AND MENTORS WILL ADDITIONALLY BE GIVEN THE ABILITY TO STAY IN CONNECTION WITH ONE ANOTHER VIA A THIRD-PARTY APPLICATION. THROUGHOUT THE DURATION OF THE PROGRAM, CONSTANT BENCHMARKS AND SOLICITED FEEDBACK WILL BE USED IN ORDER TO ENSURE THE OPTIMAL EFFECTIVENESS OF THE PROGRAM.
TULSA SPEAKS PROVIDES OVER 12 INTERACTIVE WORKSHOPS, SEMINARS AND KEYNOTE ADDRESSES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Qu'derrick Covington Executive Director/president CEO | OfficerTrustee | 25 | $5,713 |
Manuel Fleming II Chief Operating Officer/vice President | OfficerTrustee | 25 | $2,025 |
Ocie Stroud-Melvin Assistant Executive Director/chief Administrative Officer | Officer | 25 | $343 |
Kofi Martin Bannerman Jr Chief Financial Officer | Officer | 20 | $343 |
Darren Douthitt Chairman | Trustee | 2 | $0 |
Thomas Gaines Vice Chair | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $72 |
| Related organizations | $34,775 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $26,700 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $61,547 |
| Total Program Service Revenue | $9,750 |
| 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 | $71,297 |
| 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. | $8,424 |
| Compensation of current officers, directors, key employees. | $8,424 |
| 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 | $0 |
| Fees for services: Accounting | $810 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,500 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,415 |
| Office expenses | $29,843 |
| Information technology | $82 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,082 |
| 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 | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,150 |
| All other expenses | $0 |
| Total functional expenses | $52,306 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,503 |
| 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 | $7,500 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $39,003 |
| 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 | $25,834 |
| Net assets with donor restrictions | $13,169 |
| 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 | $39,003 |