Mustard Seed Development Center FY2023 filing

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Mustard Seed Development was founded to serve the financial education and training needs of disenfranchised adults in low to moderate income households. A major focus of the Center is assisting clients in obtaining and keeping homeownership status.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
$76K 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

FY2023 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average deficit $42K a year · 16% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$76K
to officers and key staff · 21% of spending
Worth a look: pay to officers and key staff is 21% of spending; over 20%.
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
Liabilities
$570K
242% of total assets
Concern: liabilities are 242% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$254K
-18% vs prior year
Spent
$361K
To programs
82%
Net assets
−$334K
By yearFY2020–FY2025
Revenue
$254K
FY2023▼ -18%
Tap a bar for its year
Revenue by fiscal year
FY2020$167K
FY2021$358K
FY2022$311K
FY2023$254K
FY2024$261K
FY2025$247K
Expenses
$361K
FY2023▼ -23%
Tap a bar for its year
Expenses by fiscal year
FY2020$172K
FY2021$299K
FY2022$466K
FY2023$361K
FY2024$277K
FY2025$277K
Net assets
−$334K
FY2023▼ -47%
Tap a bar for its year
Net assets by fiscal year
FY2020$92K
FY2021−$72K
FY2022−$227K
FY2023−$334K
FY2024−$353K
FY2025−$383K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2000.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $294K Management & general 18% · $67K

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

5 people listed on the 990; $76K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$65,313Pt VII · Sec A
Board Chair
$11,100Pt VII · Sec A
Executive Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Mintoree Stokes’s $48K as Executive Director is at the 35th percentile of top reported officer pay among 2168 $100K–1M human services 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 · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Mintoree Stokes$47,500$45,750$65,313$60,000$16,923$19,038
Audrey McLain——$11,100———

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 Mustard Seed Development Center executive salaries →

Questions the 990 asks

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

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Teaches financial literacy and homeownership skills to low-income adults.

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1 program · $236K · in their own filed words · FY2023
01

Pre-Purchase Housing Counseling Program

This program consists of homebuyer seminars along with one-to-one counseling sessions that focus on educating families regarding the purchase and/or rental of a home and overcoming barriers that contribute to sub-standard housing.

$236Kprogram expense

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$254K
Ln 12
Fees for servicesLn 2g$251K
Gifts and grantsLn 1h$3K
Investment incomeLn 3$53
Money outPt IX
$361K
Ln 25
Programscol B$294K
Managementcol C$67K
Owns and owesPt X
−$334K
net assets · Ln 32
Cash and savingsLn 1–2$20K
Total assetsLn 16$236K
LiabilitiesLn 26$570K
PeoplePt VI, VII
5
listed · VII A
PaidVII A2
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3K
Fees for servicesLn 2g$251K
Investment incomeLn 3$53
Total revenueLn 12$254K
Assets in detailPt X, end of year
CashLn 1$20K
Cash and savings togetherLn 1–2$20K
Land, buildings, equipmentLn 10c$9K
Total assetsLn 16$236K
LiabilitiesLn 26$570K
Net assetsLn 32−$334K
OperationsPt I, VI
EmployeesI 58
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 FY23End FY23
Cash and savingsLn 1–2$231K$20K
Land, buildings, equipmentLn 10c$9K$9K
Total assetsLn 16$447K$236K
LiabilitiesLn 26$674K$570K
Net assetsLn 32−$227K−$334K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$65K$49K$16K
Other salaries and wagesLn 7$133K$105K$28K
Other employee benefitsLn 9$5K$4K$1K
Payroll taxesLn 10$21K$16K$5K
Accounting feesLn 11c$3K$2K$637
Other fees for servicesLn 11g$30K$22K$7K
Office expensesLn 13$302$227$75
OccupancyLn 16$9K$7K$2K
TravelLn 17$35$35
Conferences, conventions and meetingsLn 19$3K$2K$709
InterestLn 20$53K$53K
InsuranceLn 23$5K$4K$1K
Other expenses (24a–d)Ln 24$1K$797$265
All other expensesLn 24e$33K$30K$4K
Total functional expensesLn 25$361K$294K$67K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Jul 15, 2026 $247K$277K−$29K−$383K 990 PDF
FY2024Filed with the IRS Jul 3, 2025 $261K$277K−$16K−$353K 990 PDF
FY2023 ViewingFiled with the IRS Oct 25, 2024 $254K$361K−$107K−$334K 990 PDF
FY2022Filed with the IRS Nov 14, 2023 $311K$466K−$155K−$227K 990 PDF
FY2021Filed with the IRS Nov 7, 2022 $358K$299K$60K−$72K 990 PDF
FY2020Filed with the IRS Nov 12, 2021 $167K$172K−$5K$92K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $253,581 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $11,500$2,665
I-9 Program service revenuePrior year $296,799$250,863
I-10 Investment income$53
I-11 Other revenuePrior year $2,254$0
I-12 Total revenuePrior year $310,553$253,581
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $335,035$224,232
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $130,695$136,491
I-18 Total expensesPrior year $465,730$360,723
I-19 Revenue less expensesPrior year −$155,177−$107,142
Part VI · Governance 5 of 5 board members independent, 2 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $253,581 across 5 lines filed
VIII-1f All other contributions, gifts and grants$2,665
VIII-1h Total contributions, gifts and grants$2,665
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $250,863$250,863
VIII-3 Investment incomeRelated to mission $53$53
VIII-12 Total revenueRelated to mission $250,916$253,581
Part IX · Statement of functional expenses $360,723 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $48,984 · Management $16,329$65,313
IX-7 Other salaries and wagesPrograms $104,991 · Management $27,663$132,654
IX-9 Other employee benefitsPrograms $3,983 · Management $1,327$5,310
IX-10 Payroll taxesPrograms $15,716 · Management $5,239$20,955
IX-11c Accounting feesPrograms $1,913 · Management $637$2,550
IX-11g Other fees for servicesPrograms $22,214 · Management $7,404$29,618
IX-13 Office expensesPrograms $227 · Management $75$302
IX-16 OccupancyPrograms $6,578 · Management $2,193$8,771
IX-17 TravelPrograms $35$35
IX-19 Conferences, conventions and meetingsPrograms $2,129 · Management $709$2,838
IX-20 InterestPrograms $52,662$52,662
IX-23 InsurancePrograms $3,885 · Management $1,295$5,180
IX-24 Other expenses (24a–d)Programs $797 · Management $265$1,062
IX-24e All other expensesPrograms $29,962 · Management $3,511$33,473
IX-25 Total functional expensesPrograms $294,076 · Management $66,647 · Fundraising $0$360,723
Part X · Balance sheet $235,625 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $230,969$19,580
X-8 Inventories for sale or useStart of year $207,438$207,438
X-10c Land, buildings and equipment, netStart of year $8,607$8,607
X-16 Total assetsStart of year $447,014$235,625
X-19 Deferred revenueStart of year $7,500$42,500
X-24 Unsecured notes and loans payableStart of year $512,590$526,498
X-25 Other liabilitiesStart of year $675$675
X-26 Total liabilitiesStart of year $673,922$569,673
X-32 Total net assets or fund balancesStart of year −$226,908−$334,048
X-33 Total liabilities and net assetsStart of year $447,014$235,625
Part XI · Reconciliation of net assets −$334,048 net assets at year end
XI-1 Total revenue$253,581
XI-2 Total expenses$360,723
XI-3 Revenue less expenses−$107,142
XI-4 Net assets at start of year−$226,908
XI-9 Other changes in net assets$2
XI-10 Net assets at end of year−$334,048

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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