CREATING YOUNG MINDS

EIN: 453818994 501(c)(3) Education

LAKE DALLAS, TX

Total Revenue
$66,181
Total Expenses
$336,291
Total Assets
$41,176
Net Assets
$-19,124
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2011
Legal Domicile
TX
Principal Officer
SHIRA A ACKERMAN
Phone
2019239039
Tax Period
2021-01-01 to 2021-12-31

CREATING YOUNG MINDS, founded in 2011, is a micro nonprofit in the Education sector that reported $66K in total revenue in fiscal year 2021. Revenue fell 86% from the prior year — a significant decline worth monitoring. Expenses of $336K exceeded revenue, resulting in a 408% operating deficit.

Mission

WE FOCUS ON TEACHING YOUNG MEN ABOUT THE IMPORTANCE OF EDUCATION, HARD WORK AND BEING HUMBLE IN ALL ASPECTS OF LIFE. FOR THE 2020 YEAR, WE'VE HELPED OVER 40 YOUNG MEN BETWEEN THE AGES OF 16 AND 20 FROM AROUND THE US, CANADA, SENEGAL, ST. MARTEEN, GERMANY, THE NETHERLANDS, TURKS AND CAICOS, BAHAMAS, NIGERIA AND SERBIA. SIX OF THE YOUNG MEN EARNED SCHOLARSHIPS TO ATTEND 4 YEAR COLLEGES AND UNIVERSITIES IN THE US TO PLAY BASKETBALL. THREE OF THE YOUNG MEN EARNED SCHOLARSHIPS TO ATTEND 2 YEAR COLLEGES AND UNIVERSITIES IN THE US TO PLAY BASKETBALL. WE HOSTED 7 SHOWCASES THROUGHOUT THE YEAR FOR CYM ACADEMY AS WELL AS FOR OTHER PREP BASKETBALL TEAMS AND JUNIOR COLLEGE TEAMS TO PLAY IN FRONT OF COLLEGE COACHES AND NATIONAL SCOUTS TO HELP OBTAIN COLLEGE SCHOLARSHIPS. WE ALSO HOSTED 2 NCAA SANCTIONED INDIVIDUAL SHOWCASES FOR HIGH SCHOOL, JUNIOR COLLEGE PLAYERS AND INTERNATIONAL PLAYERS TO PLAY ON TEAMS IN FRONT OF COLLEGE COACHES AND NATIONAL SCOUTS TO HELP OBTAIN COLLEGE SCHOLARSHIPS. WE ATTEND

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $11,664
Program Service Revenue $5,149
Investment Income $49,368
Other Revenue $0
TOTAL REVENUE $66,181

Expense Breakdown

Grants Paid $0
Salaries & Benefits $65,271
Fundraising Expenses $0
Program Expenses $334,847
Other Expenses $271,020
TOTAL EXPENSES $336,291

Year-over-Year Comparison

2021 2020 Change
Revenue $66,181 $476,677 -0.9%
Expenses $336,291 $246,361 +0.4%
Net Income $-270,110 $230,316 -2.2%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Governance

Voting Members
3
Independent Members
3
Employees
N/A
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SHIRA A ACKERMAN ACADEMIC DIR N/A
Officer
$0 $0 $0
CHARLEY BROWN DIRECTOR N/A
Officer
$0 $0 $0
MATHIS CROWDER PRESIDENT N/A
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2021 $66,181 $336,291 $41,176 $-270,110
2020 $476,677 $246,361 $309,083 $230,316
2018 $177,469 $162,767 $20,460 $14,702
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