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George Floyd Memorial Foundation FY2021 filing

Charlotte, NCUnknown exempt organization EIN 85-2280701Revenue $807K in FY2021Latest return filed May 15, 2023

On file with the IRSgeorgefloydmemorialfoundation.org18212 Studman Branch Ave · Charlotte, NC

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We honor George Floyds legacy by uniting and activating our communities to challenge the root causes of racial inequity and end the systemic violence affecting Black Americans.

23¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average surplus $6K a year · 1% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
23%
of spending
Concern: 23% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
14 mo
of spending, in cash
Looks good: 13.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $50
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$807K
+167% vs prior year
Spent
$468K
To programs
23%
Net assets
$532K
By yearFY2020–FY2022
Revenue
$807K
FY2021▲ +167%
Tap a bar for its year
Revenue by fiscal year
FY2020$302K
FY2021$807K
FY2022$193K
Expenses
$468K
FY2021▲ +580%
Tap a bar for its year
Expenses by fiscal year
FY2020$69K
FY2021$468K
FY2022$748K
Net assets
$532K
FY2021▲ +128%
Tap a bar for its year
Net assets by fiscal year
FY2020$233K
FY2021$532K
FY2022$0

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2022) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022.

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

Where the money goes

23 cents of each dollar spent went to programs.

Program services 23% · $106K Management & general 77% · $361K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Adner Marcelin
CFO/Vice Board Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Bridgett Floyd
President/Board Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Hannah Steer
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2022FY2020
Jacari Harris$40,677—
Carry Wright—$19,333

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 George Floyd Memorial 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Uniting communities to challenge racial inequity and end systemic violence against Black Americans.

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Provided by the organization

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3 programs · $287K · in their own filed words · FY2021
01

George Floyd Remebrance in Minneapolis.

$187Kprogram expense
02

Holiday Community Care event. Organization had adopted a group for homeless sheltered kids ages 8 to 13 years old.

$50Kprogram expense
03

Fair Legal System-Scholarship program given to receipients of Criminal Justice Majors, and Law school students.

$50Kprogram 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 · FY2023
American Express FoundationFY2023$50
Total grants receivedfrom 1 funder$50
Grants paid · 5 grants · $254K · 2022–2022
Unitemized GrantFY2022$193,360
Unitemized GrantFY2022$45,000
Unitemized GrantFY2022$7,500
Greater Works Christian FellowshipFY2022$7,500
Unitemized GrantFY2022$595

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$807K
Ln 12
Fees for servicesLn 2g$451K
Gifts and grantsLn 1h$356K
Money outPt IX
$468K
Ln 25
Programscol B$106K
Managementcol C$361K
Owns and owesPt X
$532K
net assets · Ln 32
Cash and savingsLn 1–2$532K
Total assetsLn 16$532K
LiabilitiesLn 26$0
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$356K
Fees for servicesLn 2g$451K
Total revenueLn 12$807K
Assets in detailPt X, end of year
CashLn 1$532K
Cash and savings togetherLn 1–2$532K
Total assetsLn 16$532K
LiabilitiesLn 26$0
Net assetsLn 32$532K
OperationsPt I, VI
EmployeesI 50
VolunteersI 620
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 FY21End FY21
Cash and savingsLn 1–2$233K$532K
Total assetsLn 16$233K$532K
LiabilitiesLn 26$0$0
Net assetsLn 32$233K$532K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$50K$50K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$4K$4K
Other fees for servicesLn 11g$198K$198K
Advertising and promotionLn 12$16K$12K$5K
Office expensesLn 13$76K$10K$66K
Information technologyLn 14$4K$4K
TravelLn 17$59K$34K$25K
Conferences, conventions and meetingsLn 19$60K$60K
InsuranceLn 23$257$257
Total functional expensesLn 25$468K$106K$361K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 LatestFiled with the IRS May 15, 2023 $193K$748K−$555K$0 990 PDF
FY2021 ViewingFiled with the IRS Sep 21, 2022 $807K$468K$339K$532K 990 PDF
FY2020Filed with the IRS Aug 23, 2021 $302K$69K$233K$233K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $806,844 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $302,090$355,944
I-9 Program service revenue$450,900
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $302,090$806,844
I-13 Grants and similar amounts paidPrior year $5,000$50,000
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $19,333$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $44,396$417,583
I-18 Total expensesPrior year $68,729$467,583
I-19 Revenue less expensesPrior year $233,361$339,261
Part VI · Governance 9 of 9 board members independent, 2 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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 $806,844 across 4 lines filed
VIII-1f All other contributions, gifts and grants$355,944
VIII-1h Total contributions, gifts and grants$355,944
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $450,900$450,900
VIII-12 Total revenueRelated to mission $450,900$806,844
Part IX · Statement of functional expenses $467,583 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $50,000$50,000
IX-11b Legal feesManagement $1,610$1,610
IX-11c Accounting feesManagement $3,500$3,500
IX-11g Other fees for servicesManagement $197,544$197,544
IX-12 Advertising and promotionPrograms $11,567 · Management $4,892$16,459
IX-13 Office expensesPrograms $10,477 · Management $65,596$76,073
IX-14 Information technologyManagement $3,551$3,551
IX-17 TravelPrograms $34,073 · Management $24,516$58,589
IX-19 Conferences, conventions and meetingsManagement $60,000$60,000
IX-23 InsuranceManagement $257$257
IX-25 Total functional expensesPrograms $106,117 · Management $361,466 · Fundraising $0$467,583
Part X · Balance sheet $531,537 assets, 5 lines filed
X-1 Cash, non-interest-bearingStart of year $233,361$531,537
X-16 Total assetsStart of year $233,361$531,537
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $233,361$531,537
X-33 Total liabilities and net assetsStart of year $233,361$531,537
Part XI · Reconciliation of net assets $531,537 net assets at year end
XI-1 Total revenue$806,844
XI-2 Total expenses$467,583
XI-3 Revenue less expenses$339,261
XI-4 Net assets at start of year$233,361
XI-8 Prior period adjustments−$41,085
XI-10 Net assets at end of year$531,537

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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