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Mac Foundation INC FY2022 filing

Tax-deductible

Omaha, NE501(c)(3)Since 2021 EIN 87-4291295Revenue $45K in FY2022

On file with the IRSfundmac.org7930 Blondo Street Suite 100, 68134-6661 · Omaha, NETax-exempt since Feb 2022Publicly supported charity — 170(b)(1)(A)(vi)

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To connect, empower, and elevate underrepresented entrepreneurs.

501(c)(3) charity; gifts are tax-deductible.
62¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2022 · 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
4 of 4
filings with a surplus
Average surplus $36K a year · 37% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
62%
of spending
Worth a look: 62% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
77 mo
of spending, in cash
Looks good: 76.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$15K
26% of total assets
Looks good: liabilities are 26% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$45K
Spent
$9K
To programs
62%
Net assets
$41K
By yearFY2022–FY2025
Revenue
$45K
FY2022
Tap a bar for its year
Revenue by fiscal year
FY2022$45K
FY2023$64K
FY2024$138K
FY2025$139K
Expenses
$9K
FY2022
Tap a bar for its year
Expenses by fiscal year
FY2022$9K
FY2023$50K
FY2024$78K
FY2025$106K
Net assets
$41K
FY2022
Tap a bar for its year
Net assets by fiscal year
FY2022$41K
FY2023$34K
FY2024$69K
FY2025$99K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 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 Feb 2022.

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

Where the money goes

62 cents of each dollar spent went to programs.

Program services 62% · $5K Management & general 19% · $2K Fundraising 19% · $2K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation
Karine Sokpoh
President
$0Pt VII · Sec A
Judith Martin
Secretary
$0Pt VII · Sec A
Randy Dillon
Treasurer
$0Pt VII · Sec A
See Mac Foundation INC 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

Connects, empowers, and elevates underrepresented entrepreneurs.

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Provided by the organization

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1 program · $5K · in their own filed words · FY2022
01

The rising ceos program is designed to create opportunities for teens in at-risk populations in black and brown, immigrant and refugee communities to inspire and feed the pipeline of future minority entrepreneurs.

$5Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 2 grants · $33K · 2024–2025
Unitemized GrantFY2025$20,000
Unitemized GrantFY2024$13,000

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$45K
Ln 12
Gifts and grantsLn 1h$31K
Other incomeLn 4–11$14K
Money outPt IX
$9K
Ln 25
Programscol B$5K
Managementcol C$2K
Fundraisingcol D$2K
Owns and owesPt X
$41K
net assets · Ln 32
Cash and savingsLn 1–2$56K
Total assetsLn 16$56K
LiabilitiesLn 26$15K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$31K
Other incomeLn 4–11$14K
Total revenueLn 12$45K
Assets in detailPt X, end of year
CashLn 1$56K
Cash and savings togetherLn 1–2$56K
Total assetsLn 16$56K
LiabilitiesLn 26$15K
Net assetsLn 32$41K
OperationsPt I, VI
EmployeesI 50
VolunteersI 645
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 FY22End FY22
Cash and savingsLn 1–2$56K
Total assetsLn 16$0$56K
LiabilitiesLn 26$0$15K
Net assetsLn 32$0$41K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$900$450$450
Advertising and promotionLn 12$2K$825$825
Office expensesLn 13$782$391$391
Other expenses (24a–d)Ln 24$5K$5K
Total functional expensesLn 25$9K$5K$2K$2K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $139K$106K$33K$99K 990 PDF
FY2024 $138K$78K$60K$69K 990 PDF
FY2023 $64K$50K$14K$34K 990 PDF
FY2022 Viewing $45K$9K$37K$41K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $45,346 revenue, 12 lines filed
I-8 Contributions and grants$30,953
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$14,393
I-12 Total revenue$45,346
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$8,680
I-18 Total expenses$8,680
I-19 Revenue less expenses$36,666
Part VI · Governance 0 of 3 board members independent, 3 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members0
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $45,346 across 5 lines filed
VIII-1b Membership dues$6,850
VIII-1f All other contributions, gifts and grants$24,103
VIII-1h Total contributions, gifts and grants$30,953
VIII-8 Net income from fundraising eventsExcluded from tax $14,393$14,393
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $14,393$45,346
Part IX · Statement of functional expenses $8,680 across 4 lines filed
IX-11a Management feesManagement $450 · Fundraising $450$900
IX-12 Advertising and promotionManagement $825 · Fundraising $825$1,650
IX-13 Office expensesManagement $391 · Fundraising $391$782
IX-24 Other expenses (24a–d)Programs $5,348$5,348
IX-25 Total functional expensesPrograms $5,348 · Management $1,666 · Fundraising $1,666$8,680
Part X · Balance sheet $55,611 assets, 6 lines filed
X-1 Cash, non-interest-bearing$55,611
X-16 Total assetsStart of year $0$55,611
X-17 Accounts payable and accrued expenses$14,512
X-26 Total liabilitiesStart of year $0$14,512
X-32 Total net assets or fund balancesStart of year $0$41,099
X-33 Total liabilities and net assetsStart of year $0$55,611
Part XI · Reconciliation of net assets $41,099 net assets at year end
XI-1 Total revenue$45,346
XI-2 Total expenses$8,680
XI-3 Revenue less expenses$36,666
XI-8 Prior period adjustments$4,433
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$41,099

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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