The Global Majority Consortium

Nonprofit profile at a glance

EIN
852167781
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
Seattle, WA, USA
Phone
2062514447
Rating
36
Verdict
REVIEW
Rating confidence
Moderate
Sector
Management & Technical Assistance

Reported finances

Revenue
$159,607
Expenses
$31,223
Assets
$163,575
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • BAIONNE COLEMAN (CO CEO)
  • JAYCEE COLEMAN (CO CEO)

Highest reported compensation

  • BAIONNE COLEMAN (CO CEO): $9,586 total reported compensation
  • JAYCEE COLEMAN (CO CEO): $9,586 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote wealth, edu, leadership, fin responsibilty via community outreach offered at no cost.

What it reported doing in 2024

Primary Program: Financial Coaching and Literacy Initiative Description: In partnership with the Washington State Department of Commerce, GMC implemented a comprehensive, two-year Financial Coaching and Literacy Initiative designed to build culturally responsive financial stability within historically marginalized communities disproportionately impacted by inequitable economic systems and past drug-related legislation.Through this program, GMC provided all services free of charge to participants. Activities included a two-day Financial Coaching Symposium, ongoing personalized financial coaching, and a series of financial literacy classes covering budgeting, debt reduction, credit repair, investing, homeownership, trust and estate planning, and entrepreneurship. What Was Done: Hosted a two-day community Financial Coaching Symposium with expert speakers on homeownership, credit building, investing, entrepreneurship, and generational wealth. Delivered one-on-one financial coaching to participants throughout the two-year grant period. Conducted recurring financial literacy workshops and community education sessions focused onculturally relevant financial empowerment. Who Benefited: BIPOC and low-income individuals and families from across Washington State participated in the program, gaining tools for wealth building and long-term financial independence. How It Furthers the Exempt Purpose: This initiative directly advances GMCs mission by increasing access to equitable financial education and coaching, helping participants build generational wealth, and addressing systemic barriers to economic mobility. Financial Information: Total Program Expenses: $375,000 (over the grant period March 2024 June 2025) Grants Received: $375,000 (Washington State Department of Commerce Financial Coaching and Literacy Grant) Revenue Generated: $0 (all services provided free of charge to all participants.

Operating model

Revenue model
Grant-funded. 100% of the money available for current operations came from government grants.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 100
  • Accountability: 10
  • Sustainability: 79
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 80.4%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 5.24; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 61.4%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 2 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $10K · 5 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Officer compensation ratio scored 2/100.