Civic Intelligence

Alt Finance Corporation

EIN 86-3974526 • 501(c)3 • Culver City, CA

Profile

Investing in black futures by providing a clear pathway to students at partnering hbcu's into careers in the alternative investment industry. Participating hbcu students will receive access to education, training, mentorship, scholarship funding, internships, and full-time career opportunities in the industry.

800 Corporate Pointe 300Culver City, CA 90230-7657

www.altfinance.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

29th percentile

0.04x

Higher debt load relative to assets than 29% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

24th percentile

0.07x

Higher debt load relative to revenue than 24% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

45th percentile

2.5%

Higher net margin than 45% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

89th percentile

$445,000

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 4.7% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

16th percentile

-6.0%

Faster asset growth than 16% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

45th percentile

5.0%

Faster revenue growth than 45% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets29th percentile

Assets

Up

$14,068,910

Up $3,079,673 (+28%) from 2022

Liabilities

Up

$622,696

Up $492,152 (+377%) from 2022

Net Assets

Up

$13,446,214

Up $2,587,521 (+24%) from 2022

Operations
Liabilities / Revenue24th percentileNet Margin45th percentile

Revenue

Up

$9,458,011

Up $451,994 (+5.0%) from 2022

Expenses

Up

$9,223,111

Up $2,532,583 (+38%) from 2022

Net Income

Down

$234,900

Down $2,080,589 (-90%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth16th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2021: $8,667,730Liabilities 2021: $124,526Net Assets 2021: $8,543,2042021Assets 2022: $10,989,237Liabilities 2022: $130,544Net Assets 2022: $10,858,6932022Assets 2024: $14,068,910Liabilities 2024: $622,696Net Assets 2024: $13,446,2142024

Highlighted filing

2024

Assets$14,068,910
Liabilities$622,696
Net Assets$13,446,214
Open 2024 Filing

Operations Trend

Revenue Growth45th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0Revenue 2021: $9,000,000Expenses 2021: $456,796Net Income 2021: $8,543,2042021Revenue 2022: $9,006,017Expenses 2022: $6,690,528Net Income 2022: $2,315,4892022Revenue 2024: $9,458,011Expenses 2024: $9,223,111Net Income 2024: $234,9002024

Highlighted filing

2024

Revenue$9,458,011
Expenses$9,223,111
Net Income$234,900
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$14,068,910
Liabilities
$622,696
Net assets
$13,446,214
Revenue
$9,458,011
Expenses
$9,223,111
Net income
$234,900
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.1$0.62$13.4$9.46$9.22$0.23
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.0$0.13$10.9$9.01$6.69$2.32
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.67$0.12$8.54$9.00$0.46$8.54
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Dec 10, 2025
Return Version
2024v5.2
Gross Receipts
$9,458,011
Mission and Program Overview

Mission

Investing in black futures by providing a clear pathway to students at partnering historically black colleges and universities ("hbcu's") into careers in the alternative investment industry. Participating hbcu students will receive access to education, training, mentorship, scholarship funding, internships, and full-time career opportunities in the industry.

Alt finance corporation ("altfinance") is committed to building and expanding pathways for students at historically black colleges and universities ("hbcu's") who enter the alternative investment industry. By providing hbcu communities with access to specialized curriculum, valuable networks, and sustainable financial support, altfinance opens pathways for hbcu talent to pursue careers in investing. Through industry-focused education, exposure, and hands-on experience, altfinance equips students with the tools for success.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$11,050,458-
Pledges and Grants Receivable$4,500,000$1,500,000▼ $3,000,000
Cash and Non-Interest-Bearing Accounts$10,423,565$1,372,470▼ $9,051,095
Accounts Receivable$385$75,924▲ $75,539
Prepaid Expenses and Deferred Charges$49,433$70,058▲ $20,625
Total Assets$14,973,383$14,068,910▼ $904,473
Liabilities
Accounts Payable and Accrued Expenses$1,762,069$622,696▼ $1,139,373
Total Liabilities$1,762,069$622,696▼ $1,139,373
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$13,211,314$13,446,214▲ $234,900
Total Net Assets Fund Balance$13,211,314$13,446,214▲ $234,900
Total Liabilities and Net Assets / Fund Balance$14,973,383$14,068,910▼ $904,473
Compensation and Service Providers
Top Officer Pay89th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Marcus ShawPresident and C.e.o.FT$325,000$120,000$445,000
Rachel WardV-p, Programs and PartnershipsFT$173,250$16,026$189,276
Leslie EspyV-p, Strategy and OperationFT$168,300$11,563$179,863
Tulani ThomasChief of StaffFT$125,000$26,260$151,260

Board Members and Trustees

NameTitle
Trey PruittChair
Jonathan B SimonVice-chair, Chair (as of May 2024)
Eddie Keith IiiDirector
Michelle ArmstrongDirector
Milwood Hobbs JrDirector
Jerilyn McaniffSecretary
Heather BergerTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Management Leaders For TomorrowDevelop, Plan, And Launch Events1331 L ST NW 6TH FLOOR, Washington, DC 20005$2,286,973
Wharton School Of Univ Of PennsylvaniaEducation Services3620 LOCUST WALK, Philadelphia, PA 19104$1,560,439
Wilbron Industries LLCMarketing And Communications2101 6TH AVENUE NORTH SUITE 1175, Birmingham, AL 35203$110,765
Revenue and Support

Revenue Composition

Contributions and Grants
$9,000,000
Program Service Revenue
$0
Investment Income
$458,011
Other Revenue
$0
All Other Contributions
$9,000,000
Change in Net Assets
$234,900

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,458,011
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$32,516
Total Revenue per Audited Statements
$9,490,527
Total Revenue per Form 990
$9,458,011
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,560,422
Grants and Similar Amounts Paid$2,233,496
Salaries, Compensation, and Employee Benefits$1,429,193
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,140,000--$1,140,000
Grants to Domestic Individuals$1,093,496--$1,093,496
Current Officers, Directors, Trustees, and Key Employees$772,319$193,080-$965,399
Other Salaries and Wages$204,006$51,001-$255,007
Advertising$227,827--$227,827
Travel$116,216$12,796-$129,012
Fees for Services Accounting$89,271$22,318-$111,589
Other Employee Benefits$88,296$22,075-$110,371
Office Expenses$96,185$7,788-$103,973
Payroll Taxes$58,150$14,537-$72,687
Other Expenses$23,433$5,858-$29,291
Pension Plan Contributions$20,583$5,146-$25,729
Information Technology$19,568$4,892-$24,460
Insurance$8,260$2,065-$10,325
Occupancy$5,328$1,332-$6,660
Total Functional Expenses$8,880,223$342,888$0$9,223,111

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$9,255,627
Expenses per Audited Statements$9,223,111
Total Expenses per Form 990$9,223,111
Expenses Not Reported on Form 990$32,516
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Florida A&m UniversityTallahassee, FL501(c)(3)Scholarships$250,000
Hampton UniversityHampton, VA501(c)(3)Scholarships$250,000
Morgan State UniversityBaltimore, MD501(c)(3)Scholarships$250,000
North Carolina A&t UniversityGreensboro, NC501(c)(3)Scholarships$250,000
Morehouse CollegeAtlanta, GA501(c)(3)Scholarships$125,000
Howard UniversityWashington, DC501(c)(3)Scholarships$15,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Form 990 is prepared by a cpa firm. Upon completion of the draft return, it is reviewed by the board of directors before filing.”

Form 990, Part VI, Section B, Line 12C

“Officers and directors are required to disclose annually any situations that could give rise to a potential conflict of interest.”

Form 990, Part VI, Section B, Line 15A

“The board reviews executive compensation for similar-sized organizations as a benchmark for executive pay.”

Form 990, Part VI, Section C, Line 19

“Financial information is avaiable upon request.”

Filing and Contact Details

Filer

Filer Name
Alt Finance Corporation
EIN
86-3974526
Phone
9196990778
Address
1800 AVENUE OF THE STARS 1400, LOS ANGELES, CA 90067-4216

Signing Officer

Name
Marcus Shaw
Title
President and C.e.o.
Phone
9196990778
Signed
2025-12-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Marcus Shaw
Formed
2021
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
6
Employees
8
Volunteers
0

Preparer

Firm
GJC CPA'S & ADVISORS
Address
1001 WOODWARD AVENUE SUITE 850, DETROIT, MI 48226-1904
Preparer
Michael R Nicholas
Phone
3139652655
Supplemental Narrative

Additional Explanations

FORM 990, PAGE 1, ITEM B - AMENDED RETURN:

“Form 990 is being amended to provide more accurate information. The items that are being revised are as follows: - page 1, items (b) (address change box) and (c) (address) - part i, item 1 (reported on schedule o) - part ii, signing officer's title - part iii, item 1 (reported on schedule o) - part vi, section c, item 20 (address) - part vii, section a, items (1), (2), (5), and (6), column (a) (titles), as well as item (11) (not previously reported) - part vii, section b, item (3), column (b) - schedule b, part i, item 2, column (b) (address) - schedule j, part ii, item (2), column (a) (title) - schedule j, part iii (part i, item 1a explanation)”

Financial Statement Notes

PART X, LINE 2:

“U.s. Gaap requires management to evaluate uncertain tax positions taken by the organization. The financial statement effects of a tax position are recognized when the position is more-likely-than-not, based on the technical merits, to be sustained upon examination by the internal revenue service. Management has analyzed the tax positions taken by the foundation and has concluded that as of december 31, 2024 and 2023, there are no uncertain tax positions taken or expected to be taken. The organization has recognized no interest or penalties related to uncertain tax positions. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.”

Raw XML AppendixShowing 400 of 614 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/ActivityOrMissionDesc0ALT FINANCE CORPORATION ("ALTFINANCE") IS COMMITTED TO BUILDING AND EXPANDING PATHWAYS FOR STUDENTS AT HISTORICALLY BLACK COLLEGES AND UNIVERSITIES ("HBCU'S") WHO ENTER THE ALTERNATIVE INVESTMENT INDUSTRY. BY PROVIDING HBCU COMMUNITIES WITH ACCESS TO SPECIALIZED CURRICULUM, VALUABLE NETWORKS, AND SUSTAINABLE FINANCIAL SUPPORT, ALTFINANCE OPENS PATHWAYS FOR HBCU TALENT TO PURSUE CAREERS IN INVESTING. THROUGH INDUSTRY-FOCUSED EDUCATION, EXPOSURE, AND HANDS-ON EXPERIENCE, ALTFINANCE EQUIPS STUDENTS WITH THE TOOLS FOR SUCCESS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE-CHAIR, CHAIR (AS OF MAY 2024)
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6PRESIDENT AND C.E.O.
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IRS990/Form990PartVIISectionAGrp/TitleTxt8V-P, PROGRAMS AND PARTNERSHIPS
IRS990/Form990PartVIISectionAGrp/TitleTxt9V-P, STRATEGY AND OPERATION
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IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GrantAmt02233496
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt01093496
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt01093496
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt01140000
IRS990/GrantsToDomesticOrgsGrp/TotalAmt01140000
IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt09458011
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt06
IRS990/IndivRcvdGreaterThan100KCnt04
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt04892
IRS990/InformationTechnologyGrp/ProgramServicesAmt019568
IRS990/InformationTechnologyGrp/TotalAmt024460
IRS990/InsuranceGrp/ManagementAndGeneralAmt02065
IRS990/InsuranceGrp/ProgramServicesAmt08260
IRS990/InsuranceGrp/TotalAmt010325
IRS990/InvestmentIncomeGrp/ExclusionAmt0458011
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0458011
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt07
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0CA
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0ALTFINANCE IS COMMITTED TO BUILDING AND EXPANDING PATHWAYS FOR HBCU STUDENTS WHO ENTER THE ALTERNATIVE INVESTMENT INDUSTRY. BY PROVIDING HBCU COMMUNITIES WITH ACCESS TO SPECIALIZED CURRICULUM, VALUABLE NETWORKS, AND SUSTAINABLE FINANCIAL SUPPORT, ALTFINANCE OPENS PATHWAYS FOR HBCU TALENT TO PURSUE CAREERS IN INVESTING. THROUGH INDUSTRY-FOCUSED EDUCATION, EXPOSURE, AND HANDS-ON EXPERIENCE, ALTFINANCE EQUIPS STUDENTS WITH THE TOOLS FOR SUCCESS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt013211314
IRS990/NetAssetsOrFundBalancesEOYAmt013446214
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt013211314
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt013446214
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt01332
IRS990/OccupancyGrp/ProgramServicesAmt05328
IRS990/OccupancyGrp/TotalAmt06660
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt07788
IRS990/OfficeExpensesGrp/ProgramServicesAmt096185
IRS990/OfficeExpensesGrp/TotalAmt0103973
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt022075
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt088296
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0110371
IRS990/OtherExpensesGrp/Desc0FELLOWSHIP PROGRAM
IRS990/OtherExpensesGrp/Desc1INSTITUTE PROGRAM
IRS990/OtherExpensesGrp/Desc2LAMPLIGHTER PROGRAM
IRS990/OtherExpensesGrp/Desc3MEALS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt05858
IRS990/OtherExpensesGrp/ProgramServicesAmt03094374
IRS990/OtherExpensesGrp/ProgramServicesAmt11745040
IRS990/OtherExpensesGrp/ProgramServicesAmt277871
IRS990/OtherExpensesGrp/ProgramServicesAmt323433
IRS990/OtherExpensesGrp/TotalAmt03094374
IRS990/OtherExpensesGrp/TotalAmt11745040
IRS990/OtherExpensesGrp/TotalAmt277871
IRS990/OtherExpensesGrp/TotalAmt329291
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt051001
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0204006
IRS990/OtherSalariesAndWagesGrp/TotalAmt0255007
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt014537
IRS990/PayrollTaxesGrp/ProgramServicesAmt058150
IRS990/PayrollTaxesGrp/TotalAmt072687
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt05146
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt020583
IRS990/PensionPlanContributionsGrp/TotalAmt025729
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt04500000
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01500000
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt049433
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt070058
IRS990/PrincipalOfficerNm0MARCUS SHAW
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0ALTFINANCE FELLOWSHIP PROGRAM - THIS PROGRAM SERVICES 118 STUDENTS BY PROVIDING THEM WITH TRAINING, MENTORSHIP, CAREER COACHING, AND SCHOLARSHIPS. THE ORGANIZATION HOSTS FIVE IN-PERSON WORKSHOPS A YEAR.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt03842759
IRS990/ProgSrvcAccomActy3Grp/Desc0ALTFINANCE INSTITUTE - THE INSTITUTE PROVIDES CO-CURRICULAR LEARNING OPPORTUNITIES TO ALL INTERESTED HBCU STUDENTS TO INCREASE AWARENESS, SUPPORT INTEREST, AND CREATE PATHWAYS TO ALTERNATIVE INVESTMENT CAREERS. MANY OF THE INSTITUTE AMBASSADORS MEET IN PERSON ONCE A YEAR.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt02167085
IRS990/ProgSrvcAccomActyOtherGrp/Desc0THE LAMPLIGHTER SERIES IS A REGIONAL SALON INITIATIVE DESIGNED TO CONNECT ALTFINANCE'S ECOSYSTEM OF HBCU'S, PARTNER FIRMS, AND INDUSTRY LEADERS WHILE ELEVATING AWARENESS OF ALTFINANCE'S MISSION. EACH EVENT SERVES AS AN INTIMATE, HIGH-IMPACT GATHERING TO SHOWCASE ADVISORY BOARD MEMBERS, ENGAGE LP'S, AND STRENGTHEN RELATIONSHIPS ACROSS REGIONS. THESE SMALLER, CURATED EVENTS ARE TAILORED TO EACH LOCATION'S COMMUNITY AND ALUMNI PRESENCE, FEATURING HBCU PRESIDENTS, FIRM LEADERS, AND OTHER INFLUENTIAL VOICES AS SPEAKERS. THE FORMAT ENCOURAGES MEANINGFUL NETWORKING AND THOUGHT LEADERSHIP.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt096705
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt09005000
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0829210
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt03679249
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt03534695
IRS990/PYSalariesCompEmpBnftPaidAmt0961846
IRS990/PYTotalExpensesAmt05470305
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt09005000
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0234900
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt011050458
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE ORGANIZATION WAS INCORPORATED ON APRIL 12, 2021. THEREFORE, THE 2021 COLUMN REPRESENTS A SHORT PERIOD.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, SHORT YEAR EXPLANATION:
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt09000000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt09005000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt09006017
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt09000000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt036011017
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0458011
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0458011
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt013469779
IRS990ScheduleA/SubstantialContributorsTotAmt022541238
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt09000000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt09005000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt09006017
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt09000000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt036011017
IRS990ScheduleA/TotalSupportAmt036469028
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt032516
IRS990ScheduleD/DonatedServicesUseFcltsAmt032516
IRS990ScheduleD/ExpensesNotReportedAmt032516
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt09223111
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt032516
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt09458011
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0U.S. GAAP REQUIRES MANAGEMENT TO EVALUATE UNCERTAIN TAX POSITIONS TAKEN BY THE ORGANIZATION. THE FINANCIAL STATEMENT EFFECTS OF A TAX POSITION ARE RECOGNIZED WHEN THE POSITION IS MORE-LIKELY-THAN-NOT, BASED ON THE TECHNICAL MERITS, TO BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2024 AND 2023, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN. THE ORGANIZATION HAS RECOGNIZED NO INTEREST OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt09223111
IRS990ScheduleD/TotalRevenuePerForm990Amt09458011
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt09490527
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt09255627
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt01093496
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc0SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt03
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc0N/A
IRS990ScheduleI/RecipientTable/CashGrantAmt0250000
IRS990ScheduleI/RecipientTable/CashGrantAmt1250000
IRS990ScheduleI/RecipientTable/CashGrantAmt2250000
IRS990ScheduleI/RecipientTable/CashGrantAmt3250000
IRS990ScheduleI/RecipientTable/CashGrantAmt4125000
IRS990ScheduleI/RecipientTable/CashGrantAmt515000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc3501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc4501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc5501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt30
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt40
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt50
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0N/A
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc1N/A
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc2N/A
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc3N/A
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc4N/A
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc5N/A
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0SCHOLARSHIPS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1SCHOLARSHIPS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2SCHOLARSHIPS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3SCHOLARSHIPS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4SCHOLARSHIPS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5SCHOLARSHIPS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0FLORIDA A&M UNIVERSITY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1HAMPTON UNIVERSITY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2MORGAN STATE UNIVERSITY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3NORTH CAROLINA A&T UNIVERSITY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4MOREHOUSE COLLEGE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5HOWARD UNIVERSITY
IRS990ScheduleI/RecipientTable/RecipientEIN0590977035
IRS990ScheduleI/RecipientTable/RecipientEIN1540505990
IRS990ScheduleI/RecipientTable/RecipientEIN2522362685
IRS990ScheduleI/RecipientTable/RecipientEIN3566000007

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