The Foundation provides scholarships, grants, and other educational programs to multicultural students pursuing a career in advertising. Additionally, the Foundation provides funding to organizations that engage all levels of multicultural talent that may not otherwise consider advertising as a career option, in order to develop new sources from which to recurit and new methods to develop talent for the industry.

501(c)(3) charity; gifts are tax-deductible.
68¢ of each $1 spent went to programs.
$213K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average deficit $79K a year · 4% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
68%
of spending
Fine: 68% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$213K
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
<1 mo
of spending, in cash
Worth a look: 0.7 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$358K
206% of total assets
Concern: liabilities are 206% of assets; over 80%.
Pt X · Ln 26
Independent board members
23
of 24 voting members
Looks good: 23 of 24 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
-45% vs prior year
Spent
$2.9M
To programs
68%
Net assets
−$184K
By yearFY2020–FY2024
Revenue
$1.2M
FY2024▼ -45%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.1M
FY2021$3.4M
FY2022$2.5M
FY2023$2.2M
FY2024$1.2M
Expenses
$2.9M
FY2024▼ -2%
Tap a bar for its year
Expenses by fiscal year
FY2020$910K
FY2021$1.6M
FY2022$2.3M
FY2023$2.9M
FY2024$2.9M
Net assets
−$184K
FY2024▼ -112%
Tap a bar for its year
Net assets by fiscal year
FY2020$355K
FY2021$2.1M
FY2022$2.2M
FY2023$1.5M
FY2024−$184K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1997.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

68 cents of each dollar spent went to programs.

Program services 68% · $1.9M Management & general 20% · $579K Fundraising 12% · $338K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

29 people listed on the 990; $213K paid to officers and key staff.

Part VII, Section A · reportable compensation
Program Director
$108,408Pt VII · Sec A
Manager, Maip Alumni & Educ. Programs
$104,321Pt VII · Sec A
Co Chairperson
$0Pt VII · Sec A
Deputy Chair
$0Pt VII · Sec A
Bod Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director (as of 10/2024)
$0Pt VII · Sec A
$0Pt VII · Sec A

Jacquelyn Green’s $108K as Program Director is at the 37th percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021
Stacey Abreu—$163,980$156,355—
Reema Elghossain———$145,331
Jacquelyn Green$108,408$107,750$101,576—
Kennedy Studdard$104,321———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Aaaa Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports multicultural students and organizations to build advertising talent.

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Provided by the organization

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2 programs · $1.9M · in their own filed words · FY2024
01

Multicultural Advertising Intern Program (maip)

See schedule o

$1.4Mprogram expense
02

Scholarships

See schedule o

$535Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$10K
Grants paid · 12 grants · $521K · 2020–2024
Unitemized GrantFY2024$177,000
Unitemized GrantFY2023$172,000
Unitemized GrantFY2022$50,000
Unitemized GrantFY2022$15,000
Unitemized GrantFY2022$4,000
Unitemized GrantFY2022$2,750
Unitemized GrantFY2021$26,000
Unitemized GrantFY2021$19,083
Unitemized GrantFY2021$10,000
Unitemized GrantFY2021$9,113
Unitemized GrantFY2021$9,000
Unitemized GrantFY2020$27,250

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.2M
Ln 12
Gifts and grantsLn 1h$662K
Fees for servicesLn 2g$461K
Other incomeLn 4–11$74K
Money outPt IX
$2.9M
Ln 25
Programscol B$1.9M
Managementcol C$579K
Fundraisingcol D$338K
Owns and owesPt X
−$184K
net assets · Ln 32
Cash and savingsLn 1–2$174K
Total assetsLn 16$174K
LiabilitiesLn 26$358K
PeoplePt VI, VII
29
listed · VII A
PaidVII A2
Voting boardVI 1a24
IndependentVI 1b23
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$662K
Fees for servicesLn 2g$461K
Investment incomeLn 3$603
Other incomeLn 4–11$74K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$146K
SavingsLn 2$28K
Cash and savings togetherLn 1–2$174K
Total assetsLn 16$174K
LiabilitiesLn 26$358K
Net assetsLn 32−$184K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$1.5M$174K
Total assetsLn 16$1.7M$174K
LiabilitiesLn 26$248K$358K
Net assetsLn 32$1.5M−$184K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$177K$177K
Other salaries and wagesLn 7$1.2M$1.1M$159K
Other employee benefitsLn 9$127K$104K$23K
Payroll taxesLn 10$129K$106K$23K
Management feesLn 11a$530K$530K
Accounting feesLn 11c$30K$30K
Professional fundraising feesLn 11e$98K$98K
Other fees for servicesLn 11g$36K$36K
Office expensesLn 13$13K$13K
TravelLn 17$32K$32K
Other expenses (24a–d)Ln 24$442K$408K$34K
All other expensesLn 24e$6K$6K
Total functional expensesLn 25$2.9M$1.9M$579K$338K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.2M$2.9M−$1.7M−$184K 990 PDF
FY2023 $2.2M$2.9M−$736K$1.5M 990 PDF
FY2022 $2.5M$2.3M$132K$2.2M 990 PDF
FY2021 $3.4M$1.6M$1.7M$2.1M 990 PDF
FY2020 $1.1M$910K$141K$355K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,197,925 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,191,953$662,173
I-9 Program service revenuePrior year $784,466$460,992
I-10 Investment incomePrior year $870$603
I-11 Other revenuePrior year $206,000$74,157
I-12 Total revenuePrior year $2,183,289$1,197,925
I-13 Grants and similar amounts paidPrior year $173,750$177,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,627,448$1,498,121
I-16a Professional fundraising feesPrior year $0$98,000
I-17 Other expensesPrior year $1,117,968$1,089,575
I-18 Total expensesPrior year $2,919,166$2,862,696
I-19 Revenue less expensesPrior year −$735,877−$1,664,771
Part VI · Governance 23 of 24 board members independent, 1 to look at
VI-1a Voting members of the governing body24
VI-1b Independent voting members23
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,197,925 across 6 lines filed
VIII-1f All other contributions, gifts and grants$662,173
VIII-1h Total contributions, gifts and grants$662,173
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $460,992$460,992
VIII-3 Investment incomeExcluded from tax $603$603
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $74,157$74,157
VIII-12 Total revenueRelated to mission $460,992 · Unrelated business $0 · Excluded from tax $74,760$1,197,925
Part IX · Statement of functional expenses $2,862,696 across 12 lines filed
IX-2 Grants to domestic individualsPrograms $177,000$177,000
IX-7 Other salaries and wagesPrograms $1,082,885 · Fundraising $159,119$1,242,004
IX-9 Other employee benefitsPrograms $104,262 · Fundraising $22,887$127,149
IX-10 Payroll taxesPrograms $105,754 · Fundraising $23,214$128,968
IX-11a Management feesManagement $530,000$530,000
IX-11c Accounting feesManagement $30,000$30,000
IX-11e Professional fundraising feesFundraising $98,000$98,000
IX-11g Other fees for servicesPrograms $35,815$35,815
IX-13 Office expensesManagement $13,154$13,154
IX-17 TravelPrograms $32,436$32,436
IX-24 Other expenses (24a–d)Programs $407,729 · Fundraising $34,333$442,062
IX-24e All other expensesManagement $6,108$6,108
IX-25 Total functional expensesPrograms $1,945,881 · Management $579,262 · Fundraising $337,553$2,862,696
Part X · Balance sheet $173,918 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $1,387,093$145,544
X-2 Savings and temporary cash investmentsStart of year $72,723$28,374
X-16 Total assetsStart of year $1,728,664$173,918
X-17 Accounts payable and accrued expensesStart of year $97,015$62,852
X-19 Deferred revenue$42,800
X-25 Other liabilitiesStart of year $150,584$251,972
X-26 Total liabilitiesStart of year $247,599$357,624
X-27 Net assets without donor restrictionsStart of year $770,390−$522,381
X-28 Net assets with donor restrictionsStart of year $710,675$338,675
X-32 Total net assets or fund balancesStart of year $1,481,065−$183,706
X-33 Total liabilities and net assetsStart of year $1,728,664$173,918
Part XI · Reconciliation of net assets −$183,706 net assets at year end
XI-1 Total revenue$1,197,925
XI-2 Total expenses$2,862,696
XI-3 Revenue less expenses−$1,664,771
XI-4 Net assets at start of year$1,481,065
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$183,706

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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