Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1998.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
75 cents of each dollar spent went to programs.
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
8 people listed on the 990; $137K paid to officers and key staff.
Kathleen Parsons’s $137K as CFO/Treasurer is at the 94th percentile of top reported officer pay among 1613 $100K–1M 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 · 1 named individual · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Kathleen Parsons | $136,796 | $136,796 | $136,796 | $136,796 | $136,796 |
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.
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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 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Provides educational programs and scholarships for students at Historically Black Colleges and Universities.
Questions for Tom Joyner Foundation INC
Your first name shows with your question. Tom Joyner Foundation INC answers here, for everyone.
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Awarded over 221 scholarships to students attending 23 different historically black colleges and universities (hbcus).
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2020 990, line by line.
Download 990
| Line | Start FY20 | End FY20 |
|---|---|---|
| Cash and savingsLn 1–2 | $5.3M | $3.3M |
| Land, buildings, equipmentLn 10c | $27 | $0 |
| Total assetsLn 16 | $8.1M | $3.8M |
| LiabilitiesLn 26 | $4.6M | $1.1M |
| Net assetsLn 32 | $3.6M | $2.7M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $588K | $588K | ||
| Pay of current officers, directors and key staffLn 5 | $137K | $137K | ||
| Other salaries and wagesLn 7 | $77K | $77K | ||
| Other employee benefitsLn 9 | $13K | $3K | $10K | |
| Payroll taxesLn 10 | $16K | $5K | $10K | |
| Legal feesLn 11b | $13K | $13K | ||
| Accounting feesLn 11c | $21K | $21K | ||
| Office expensesLn 13 | $3K | $3K | ||
| OccupancyLn 16 | $22K | $22K | ||
| Depreciation, depletion and amortizationLn 22 | $27 | $27 | ||
| InsuranceLn 23 | $5K | $5K | ||
| Other expenses (24a–d)Ln 24 | $93K | $76K | $12K | $6K |
| All other expensesLn 24e | $11K | $11K | ||
| Total functional expensesLn 25 | $998K | $748K | $244K | $6K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $846K | $662K | $184K | $3.0M | 990 PDF |
| FY2023 | $1.5M | $898K | $612K | $2.7M | 990 PDF |
| FY2022 | $87K | $448K | −$360K | $1.9M | 990 PDF |
| FY2021 | $602K | $887K | −$286K | $2.4M | 990 PDF |
| FY2020 Viewing | $139K | $998K | −$859K | $2.7M | 990 PDF |
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Schedules filed Part IV
See the full FY2020 990 (6 parts)
Part I · Summary $138,847 revenue, 12 lines filed
Part VI · Governance 4 of 7 board members independent, 2 to look at
Part VIII · Statement of revenue $138,847 across 6 lines filed
Part IX · Statement of functional expenses $998,053 across 13 lines filed
Part X · Balance sheet $3,828,671 assets, 13 lines filed
Part XI · Reconciliation of net assets $2,700,076 net assets at year end
Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File
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