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Multi-Cultural Development Center EIN 87-0735746 Form 990 (PDF) Claim this org

Multi-Cultural Development Center FY2020 filing

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Provides childcare and financial literacy services to low-income families. For fiscal year 2020 it reported $932K in revenue, $838K in expenses, and $-696K in net assets.Pt I

Type
Public charity (501(c)(3)) · Human Services
Location
Bossier City, LA
Filings
4 on file (2020–2020)
Revenue
$932KFY2020
Expenses
$838K
Net assets
$-696K
People
13
Filings
4
Updates
0
More identity details & actions ⌄
EIN  87-0735746 Public charity (501(c)(3)) Bossier City, LA
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2023) →
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Size
$1–10M
What they do
Provides childcare and financial literacy services to low-income families.
Leadership
Sharon L McCarty · President
Money in and out
$932K revenue, $838K expenses
Bottom line
71% program efficiency
Where the money goes · FY2020
Total revenue
$932K
Pt VIII · Ln 12
Total expenses
$838K
Pt IX · Ln 25
Net assets
$-696K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $94K
Where spending went · Part IX cols B–D
Program services $0.71 Management & general $0.29
Program efficiency
71%
of spending reaches programs
Operating runway
4.3mo
months of highly liquid reserves at operating expense rate
Surplus margin
+10%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$932K
FY2020
Expenses
$838K
FY2020
Total assets
$304K
FY2020
Total liabilities
$1000K
FY2020
Total revenue
$932K
Pt VIII · Ln 12
Total expenses
$838K
Pt IX · Ln 25
Net assets
$-696K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$94K
Total assetsPt X · Ln 16$304K
Program-expense ratioPt IX · col B71%
Voting members of governing bodyPt I · Ln 313
Independent voting membersPt I · Ln 413
Mission & Programs · Part III

Where the work happens

2 program services account for $594K of program spending, described in the organization's own filed words · FY2020.
01

Daycare

$528Kprogram expense
02

Housing

$66Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CMulti-Cultural Development Center
EINHdr · item D87-0735746
Principal addressHdr · item CBossier City, LA
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MLA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P20)
Ruling yearIRS BMFAug 2005

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a13
Independent voting membersPt VI · Ln 1b13
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Donald Scott
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Roy Griggs
Board Member
$0Pt VII · Sec A
Tena Hines
Board Member
$0Pt VII · Sec A
Haskel Frierson
Board Member
$0Pt VII · Sec A
William Sankey
Board Member
$0Pt VII · Sec A
Brittany Young
Board Member
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Program service revenue100%$932K
Total revenueLn 12$932K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.71 Management & general $0.29
Program services71%$594K
Management & general29%$244K
Total functional expensesLn 25$838K

Balance Sheet

Part X · end of year
CashLn 1$299K
Total assetsLn 16$304K
Total liabilitiesLn 26$1000K
Total net assetsLn 32$-696K
Months of cash on handcomputed4.3

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $299K · Operating expenses/yr $838K
4.3 months
Where the money goes
Program services
Program services $594K · Total expenses $838K
71%
Management & General
Management & general $244K · Total expenses $838K
29%
Fundraising
Fundraising $0 · Total expenses $838K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $932K
0%
Government reliance
Government grants — · Total revenue $932K
—
Earned-income share
Program service revenue $932K · Total revenue $932K
100%
Investment reliance
Investment income $0 · Total revenue $932K
0%
Program self-sufficiency
Program service revenue $932K · Total expenses $838K
111%
Growth & trend
Revenue growth (YoY)
This year $932K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $-696K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $932K · Expenses $838K
+10%
Liabilities-to-Assets
Total liabilities — · Total assets $304K
—
Net-asset ratio
Net assets $-696K · Total assets $304K
-229%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $304K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Sharon L McCarty · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $838K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $481K · Total expenses $838K
57%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 71%——
Overhead ratio 29%——
Investment management fee ratio 0%——
Legal fee ratio 0%——
Accounting fee ratio 0.9%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2021
Christus Health Northern LouisianaFY2021$8K
Total grants receivedfrom 1 funder$8K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2023 (Latest)$1.3M revenue · ⤓ 990 PDF
FY2022$1.9M revenue · ⤓ 990 PDF
FY2021$1.6M revenue · ⤓ 990 PDF
FY2020$932K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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