BEAN PATH

EIN: 821523381 501(c)(3) Community Improvement

JACKSON, MS

Total Revenue
$747,145
Total Expenses
$865,250
Total Assets
$533,772
Net Assets
$500,613
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2017
Legal Domicile
MS
Principal Officer
NASHLIE SEPHUS
Phone
7692083567
Tax Period
2024-01-01 to 2024-12-31

BEAN PATH, founded in 2017, is a small nonprofit in the Community Improvement sector that reported $747K in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $865K exceeded revenue, resulting in a 16% operating deficit.

Mission

TO CREATE EQUITY STEAM OPPORTUNITIES & CULTIVATE THE TALENT IN MISSISSIPPI BY PROVIDING ACCESS TO TOOLS, KNOWLEDGE, & NETWORKS TO EDUCATE AND STRENGTHEN THE COMMUNITY, STARTING WITH JACKSON, MISSISSIPPI. THE ORGANIZATION'S GOALS INCLUDE EXPOSING PEOPLE TO POSSIBILITIES AND OPPORTUNITIES, GROWING THE TECH ECHOSYTEM, EMPOWERING PEOPLE TO DEVELOP AND SHARE NEW TECH SKILLS, AND MENTORING ENTREPRENEURS AND INNOVATORS THROUGH STEAM CHALLENGES AND CAREERS.

Program Service Accomplishments

Program 1
Expenses: $616,986 Revenue: $84,397

DURING THE PAST PROJECT YEAR, THE BEAN PATH WAS ABLE TO NOT ONLY COMPLETE ALL EXPECTED RESULTS, BUT IN MANY CASES EXCEED THEM. THIS YEAR, THE ORGANIZATION CELEBRATED THE 6TH ANNIVERSARY OF THE BEAN...

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DURING THE PAST PROJECT YEAR, THE BEAN PATH WAS ABLE TO NOT ONLY COMPLETE ALL EXPECTED RESULTS, BUT IN MANY CASES EXCEED THEM. THIS YEAR, THE ORGANIZATION CELEBRATED THE 6TH ANNIVERSARY OF THE BEAN PATH AND WANTED TO EXPAND ITS REACH AND IMPACT IN THE COMMUNITY. THE GOAL WAS TO CULTIVATE ENTREPRENEURIAL AND INNOVATIVE TALENT IN MISSISSIPPI THROUGH BEING THE ONE-STOP TECH-FACING SOURCE THAT PROVIDES ACCESS TO THE TOOLS, KNOWLEDGE, AND NETWORK NECESSARY TO EDUCATE, INNOVATE AND BUILD A STRONG, INSPIRED, FUTURE WORKFORCE. THE BEAN PATH PROMISED TO PROVIDE LOW-INCOME AND UNDER-EMPLOYED PROGRAM PARTICIPANTS WITH A GROUP AND/OR INDIVIDUALIZED INSTRUCTION AT NO COST. SUBJECT MATTER EXPERT FACILITATORS INTRODUCED AND IMPARTED NEW CONCEPTS AND METHODOLOGIES THAT BUILD ON DIGITAL LITERACY AWARENESS, DEVELOPMENT, AND IMPLEMENTATION. THE ORGANIZATION PROMISED TO OFFER FREE TO LOW-COST CERTIFIED PROGRAMMING BY EXPANDING COMMUNITY PARTNERSHIPS WITH OTHER ORGANIZATIONS THAT ALIGN WITH THE BEAN PATH'S MISSION.BELOW ARE JUST SOME OF THE SUCCESSES THE ORGANIZATION EXPERIENCED DURING 2024:- HIRED 9 CONTRACTORS THIS YEAR TO ASSIST WITH AN AMBASSADOR PROGRAM, SOFTWARE DEVELOPMENT, PARTNERSHIP MANAGEMENT, LEGISLATIVE ASSISTANCE, AND INFORMATION TECHNOLOGY. - LAUNCHED ITS FIRST APP SPONSORED BY ENTERGY- LAUNCHED A NEW PROGRAM "STEAM TUESDAYS", WHICH IS AN AFTERSCHOOL PROGRAM FOR YOUTH K-12- COMPLETED THE 3RD COHORT OF OATS IN DECEMBER. TWO NEW CLASSES GRADUATED AND ALUMNI CLASSES CONTINUE TO RETURN FOR NEXT LEVEL TRAINING. - HOSTED THREE TECH TALKS AND HAD APPROXIMATELY 50 PEOPLE IN ATTENDANCE- 206 UNIQUE INDIVIDUALS ATTENDED THE MAKERSPACE CLASSES (NOT COUNTING ANNIVERSARY EVENTS)- SIPP AND CLASSES ARE A HIT AND BEAN PATH IS HOPEFUL THAT IT WILL HAVE MORE ATTENDEES AND BE MORE PROFITABLE- MULTIPLE YOUTH ROBOTICS CLUBS ARE GOING WELL. BEAN PATH HOSTED A ROBOTIC SCRIMMAGE AND APPROXIMATELY 8 YOUTHS PARTICIPATED IN THE COMPETITION. -HIGHEST ATTENDED EVENT IN DECEMBER OATS GRADUATION WITH 50+ ATTENDEES

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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 (2024)

Revenue Breakdown

Contributions & Grants $662,748
Program Service Revenue $84,397
Investment Income $0
Other Revenue $0
TOTAL REVENUE $747,145

Expense Breakdown

Grants Paid $0
Salaries & Benefits $203,413
Fundraising Expenses $90,887
Program Expenses $616,986
Other Expenses $661,837
TOTAL EXPENSES $865,250

Year-over-Year Comparison

2024 2023 Change
Revenue $747,145 $675,658 +0.1%
Expenses $865,250 $790,104 +0.1%
Net Income $-118,105 $-114,446 +0.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
9
Independent Members
9
Employees
6
Volunteers
9

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
4
$78,100
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR NASHLIE SEPHUS CEO 1.00
Officer Director
$0 $0 $0
XAVIUR LEVY BOARD MEMBER 1.00
Director
$0 $0 $0
STEPHEN BROWN BOARD MEMBER 1.00
Director
$0 $0 $0
THERESA KENNEDY BOARD MEMBER 1.00
Director
$0 $0 $0
NADER DABIT BOARD MEMBER 1.00
Director
$0 $0 $0
RODERICK JACKSON BOARD MEMBER 1.00
Director
$0 $0 $0
ALEMESHA CAMPBELL BOARD MEMBER 1.00
Director
$0 $0 $0
SARAH LEE BOARD MEMBER 1.00
Director
$0 $0 $0
AMBER AVERY BOARD MEMBER 1.00
Director
$0 $0 $0
TAMIKA JENKINS EXECUTIVE DIRECTOR 1.00
Officer
$43,269 $0 $43,269
DR CRESTON BURSE DEPUTY DIRECTOR 1.00
Officer
$15,000 $0 $15,000
TONIE SEPHUS HR & FINANCE OFFICER 1.00
Officer
$19,831 $0 $19,831
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
2024 $747,145 $865,250 $533,772 $-118,105
2023 $675,658 $790,104 $631,076 $-114,446
2022 $515,645 $649,688 $515,232 $-134,043
2021 $848,389 $223,927 $644,133 $624,462
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