Overview
What is The Gray Matter Experience Inc?
The Gray Matter Experience Inc, based in Chicago, Illinois, is a nonprofit organization that empowers black teenagers by providing coaching, capital, connections, and a supportive community. Since its inception in 2016, it has directly assisted 65 teen entrepreneurs from Chicago's South and West sides, investing over $95,000 in seed funding and pro bono services into nine teen-led businesses. The organization has worked with over 700 students citywide, exposing them to entrepreneurial practices. Its mission is to foster self-determination in black youth and strengthen their ties to their community through real-world experiences in entrepreneurship. The Gray Matter Experience offers an innovative space where black students can explore business and creative areas, nurturing their entrepreneurial skills, mindsets, self-agency, and the transferability of these skills to their academic, professional, and personal lives. Currently, the organization is staffed by a team of five dedicated individuals.
Official website here: www.graymatterexperience.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement)
The Gray Matter Experience Inc has received a two-star rating from Charity Navigator, indicating that there are areas in need of improvement within the organization. With an overall score of 66%, the nonprofit shows strengths in its culture and community engagement, boasting a perfect score of 100 in this category. However, the accountability and finance score is considerably lower at 62, suggesting some concerns regarding fiscal practices.
Financially, the organization maintains a low liabilities to assets ratio of 5.22%, indicating sound financial health. Program expenses account for 52.09% of their budget, demonstrating a commitment to their mission. Despite having a majority of independent board members and good governance practices in certain areas, the organization lacks several critical policies, including conflict of interest and whistleblower policies, which could hinder transparency and accountability.
In terms of equity strategies and data, The Gray Matter Experience Inc excels, achieving perfect scores. However, the absence of key governance documents such as posted tax forms and a documented retention policy raises questions about their operational transparency. Overall, while the organization demonstrates a strong commitment to equity and community engagement, addressing the noted deficiencies in governance and financial accountability will be crucial for improvement.
This AI summary has been generated from information found on Charity Navigator.
Is The Gray Matter Experience Inc legitimate?
The Gray Matter Experience Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Gray Matter Experience Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $256,535
For more financial information, click here
Official website here: www.graymatterexperience.com
What is the mission statement of The Gray Matter Experience Inc?
The Gray Matter Experience Inc's mission is geared towards empowering Black youth by unlocking their self-determining power. This is achieved through providing real-world entrepreneurship experiences. The organization aims to strengthen the ties of these youth to their community. To accomplish this, The Gray Matter Experience offers coaching, capital curriculum, connections, and community, thereby leveling the playing field for teen entrepreneurs. Since its inception in 2016, it has supported 65 social entrepreneurs, invested in 9 teen-founded companies, and exposed over 700 students to entrepreneurship practices.
Official website here: www.graymatterexperience.com
Who is the CEO of The Gray Matter Experience Inc?
Britney Robbins is the Vice Chair of The Gray Matter Experience Inc. The CEO's salary of The Gray Matter Experience Inc is $90,692 and their total compensation is $90,692.
Official website here: www.graymatterexperience.com
What is the revenue of The Gray Matter Experience Inc?
The Gray Matter Experience Inc's revenue in 2023 was $924,948.
Official website here: www.graymatterexperience.com
Who are the executives of The Gray Matter Experience Inc and what are their salaries?
The average compensation at The Gray Matter Experience Inc during 2023 was $51,307. There are 5 employees at The Gray Matter Experience Inc.
Here are 5 key members and their salaries (The Gray Matter Experience Inc's CEO's salary is $90,692 and their total compensation is $90,692):
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $90,692
- Related: $0
- Other: $0
Official website here: www.graymatterexperience.com
Where can I find the form 990 for The Gray Matter Experience Inc?
The Gray Matter Experience Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.graymatterexperience.com
Learn more at the official website: www.graymatterexperience.com
Mission Statement of The Gray Matter Experience Inc
The Gray Matter Experience, a nonprofit organization, is dedicated to empowering Black youth by unlocking their self-determining power. Through real-world experiences in entrepreneurship, this organization aims to strengthen the ties of these young individuals with their community. By providing coaching, capital curriculum, connections, and community, The Gray Matter Experience levels the playing field for teen social entrepreneurs, enabling them to enter the entrepreneurial space. Since its inception in 2016, the organization has directly supported 65 teen entrepreneurs across Chicago's South and West sides, investing over $95,000 in seed funding and pro bono services into nine teen-founded companies. The Gray Matter Experience has also worked with over 700 students across the city, exposing them to entrepreneurship practices.
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Impact
July, 2024
The Gray Matter Experience Inc has had a significant impact on the community of Chicago, particularly in empowering black youth through entrepreneurship. Since 2016, they have directly supported 65 teen social entrepreneurs, providing coaching, capital, curriculum, connections, and a supportive community. By investing over $95,000 in seed funding and pro bono services into 9 teen-founded companies, they have helped these young individuals turn their business ideas into reality.
Moreover, The Gray Matter Experience has reached over 700 students across the city, exposing them to entrepreneurship practices and fostering entrepreneurial skills and mindsets. By providing an innovative space for black students to explore business and creative areas, they are leveling the playing field and equipping teens with the necessary tools to succeed in school, career, and life.
Through their mission to unlock the self-determining power of black youth and strengthen their ties to the community, The Gray Matter Experience is making a tangible difference in the lives of young people in Chicago.
This information is meant to be a general summary of The Gray Matter Experience Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Program Service Revenue: $45,601
- Gross Receipts: $924,948
Assets and Liabilities:
- Total Assets: $823,401
- Total Liabilities: $43,063
- Net Assets: $780,338
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM INCOME
Revenue
$45,601
Organization Details
Founding Year
2016
Phone
(217) 721-2021Principal Officer
Britney Robbins
Main Address
20 N WACKER DR 1200, CHICAGO, IL, 60606
Website
www.graymatterexperience.comNTEE Category
Code: B25 - Education
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