Coleman a Young Foundation

Tax-deductible

Detroit, MI501(c)(3)EIN 38-2400801

To provide college scholarships to high school students

501(c)(3) charity; gifts are tax-deductible.
65¢ of each $1 spent went to programs.
Run by 8 volunteers and 2 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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 6
filings with a surplus
Average deficit $57K a year · 14% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
65%
of spending
Worth a look: 65% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$98K
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
Cash reserves
7 mo
of spending, in cash
Looks good: 6.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
7
named funders · $158K
Looks good: 7 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$57K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
22
of 22 voting members
Looks good: 22 of 22 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$629K
+61% vs prior year
Spent
$460K
To programs
65%
Net assets
$1.3M
By yearFY2019–FY2024
Revenue
$629K
FY2024▲ +61%
Revenue by fiscal year
FY2019$334K
FY2020$423K
FY2021$533K
FY2022$71K
FY2023$390K
FY2024$629K
Expenses
$460K
FY2024▲ +3%
Expenses by fiscal year
FY2019$412K
FY2020$412K
FY2021$463K
FY2022$529K
FY2023$446K
FY2024$460K
Net assets
$1.3M
FY2024▲ +18%
Net assets by fiscal year
FY2019$1.5M
FY2020$1.5M
FY2021$1.6M
FY2022$1.1M
FY2023$1.1M
FY2024$1.3M

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1983.

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

Where the money goes

65 cents of each dollar spent went to programs.

Program services 65% · $299K Management & general 23% · $104K Fundraising 12% · $58K

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

Who runs it and what they're paid

25 people listed on the 990; $98K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Di
$97,554Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Presid.
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020FY2019
Khary Turner$97,554$94,670$93,164$91,331$73,481$146,544

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 Coleman a Young Foundation 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

Awards college scholarships to deserving high school students.

Provided by the organization

This section is blank until Coleman a Young Foundation claims this page.

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1 program service account for $299K of program spending, described in the organization's own filed words · FY2024.
01

To provide college scholarship to high school students

$299Kprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
See all 7 funders →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$629K
Ln 12
Fees for servicesLn 2g$282K
Investment incomeLn 3$130K
Other incomeLn 4–11$120K
Money outPt IX
$460K
Ln 25
Programscol B$299K
Managementcol C$104K
Fundraisingcol D$58K
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$253K
Total assetsLn 16$1.3M
LiabilitiesLn 26$57K
PeoplePt VI, VII
25
listed · VII A
PaidVII A1
Voting boardVI 1a22
IndependentVI 1b22
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$96K
Fees for servicesLn 2g$282K
Investment incomeLn 3$130K
Other incomeLn 4–11$120K
Gains on assetsLn 7$99K
Total revenueLn 12$629K
Assets in detailPt X, end of year
CashLn 1$253K
Cash and savings togetherLn 1–2$253K
InvestmentsLn 11–13$1.1M
Land, buildings, equipmentLn 10c$2K
Total assetsLn 16$1.3M
LiabilitiesLn 26$57K
Net assetsLn 32$1.3M
OperationsPt I, VI
EmployeesI 52
VolunteersI 68
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$11K$253K
InvestmentsLn 11–13$1.1M$1.1M
Land, buildings, equipmentLn 10c$2K
Total assetsLn 16$1.1M$1.3M
LiabilitiesLn 26$54K$57K
Net assetsLn 32$1.1M$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$176K$176K
Payroll taxesLn 10$14K$65$14K
Accounting feesLn 11c$26K$4K$22K
Investment management feesLn 11f$16K$16K
Other fees for servicesLn 11g$3K$3K
Office expensesLn 13$5K$142$5K$103
OccupancyLn 16$11K$11K
Conferences, conventions and meetingsLn 19$1K$1K
InterestLn 20$8K$8K
InsuranceLn 23$25K$25K
Other expenses (24a–d)Ln 24$160K$94K$9K$57K
All other expensesLn 24e$16K$9K$7K$158
Total functional expensesLn 25$460K$299K$104K$58K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $629K$460K$169K$1.3M 990 PDF
FY2023 $390K$446K−$57K$1.1M 990 PDF
FY2022 $71K$529K−$458K$1.1M 990 PDF
FY2021 $533K$463K$70K$1.6M 990 PDF
FY2020 $423K$412K$11K$1.5M 990 PDF
FY2019 $334K$412K−$78K$1.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $629,142 across 7 lines filed
VIII-1f All other contributions, gifts and grants$96,407
VIII-1h Total contributions, gifts and grants$96,407
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $282,380$282,380
VIII-3 Investment incomeRelated to mission $1 · Excluded from tax $30,988$30,989
VIII-7 Net gain or loss on sales of assetsRelated to mission $99,129$99,129
VIII-8 Net income from fundraising events$120,237
VIII-12 Total revenueRelated to mission $381,510 · Excluded from tax $30,988$629,142
Part IX · Statement of functional expenses $460,205 across 12 lines filed
IX-7 Other salaries and wagesPrograms $175,860$175,860
IX-10 Payroll taxesPrograms $65 · Management $13,521$13,586
IX-11c Accounting feesPrograms $3,930 · Management $21,651$25,581
IX-11f Investment management feesPrograms $15,973$15,973
IX-11g Other fees for servicesManagement $3,207$3,207
IX-13 Office expensesPrograms $142 · Management $4,501 · Fundraising $103$4,746
IX-16 OccupancyManagement $10,634$10,634
IX-19 Conferences, conventions and meetingsManagement $1,453$1,453
IX-20 InterestManagement $8,152$8,152
IX-23 InsuranceManagement $25,433$25,433
IX-24 Other expenses (24a–d)Programs $93,906 · Management $8,580 · Fundraising $57,262$159,748
IX-24e All other expensesPrograms $8,761 · Management $6,913 · Fundraising $158$15,832
IX-25 Total functional expensesPrograms $298,637 · Management $104,045 · Fundraising $57,523$460,205
Part X · Balance sheet $1,327,071 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $10,810$253,000
X-10c Land, buildings and equipment, net$2,402
X-11 Publicly traded securitiesStart of year $1,116,863$1,071,669
X-16 Total assetsStart of year $1,127,673$1,327,071
X-17 Accounts payable and accrued expensesStart of year $10,136$16,518
X-25 Other liabilitiesStart of year $44,124$40,525
X-26 Total liabilitiesStart of year $54,260$57,043
X-27 Net assets without donor restrictionsStart of year $779,980$697,886
X-28 Net assets with donor restrictionsStart of year $293,433$572,142
X-32 Total net assets or fund balancesStart of year $1,073,413$1,270,028
X-33 Total liabilities and net assetsStart of year $1,127,673$1,327,071
Part XI · Reconciliation of net assets $1,270,028 net assets at year end
XI-1 Total revenue$629,142
XI-2 Total expenses$460,205
XI-3 Revenue less expenses$168,937
XI-4 Net assets at start of year$1,073,413
XI-5 Net unrealized gains (losses) on investments$5,727
XI-9 Other changes in net assets$21,951
XI-10 Net assets at end of year$1,270,028

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

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