Form 990 for tax year 2023

Filed by BGV FOUNDATION.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2023 , filed 20 December 2024. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Those are the same on the two returns, so the amendment changed something else.

Totals

Total revenue: $5,599,245
Total expenses: $3,575,005
Contributions and grants received: $5,475,823
Grants paid: $839,406
Program service revenue: $62,107
Investment income: $7,431
Other revenue: $53,884
Total assets, end of year: $4,931,135
Total liabilities, end of year: $112,180
Net assets or fund balances, end of year: $4,818,955
Program services expenses (Part IX): $2,349,181
Management and general expenses: $1,144,651
Fundraising expenses: $81,173
Program service expenses (Part III): $2,349,181

Program services were 65.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

1f · All other contributions, gifts and grants

$5,475,823
1g · Noncash contributions included above

$80,280
2a · Program service revenue: PITCH COMPETITIONS

total $62,107 · related or exempt $62,107
3 · Investment income

total $7,431 · excluded $7,431
11a · Other revenue: OTHER REVENUE

total $53,884 · related or exempt $53,884
11e · Other revenue, total

$53,884

Functional expenses

Part IX, the statement of functional expenses.

2 · Grants to domestic individuals

total $839,406 · program services $839,406
5 · Compensation of officers, directors and key employees

total $208,121 · program services $208,121
7 · Other salaries and wages

total $1,215,057 · program services $859,263 · management and general $355,794
9 · Other employee benefits

total $16,022 · program services $12,016 · management and general $4,006
10 · Payroll taxes

total $98,987 · program services $74,240 · management and general $24,747
11b · Fees: legal

total $2,000 · management and general $2,000
11c · Fees: accounting

total $15,000 · management and general $15,000
11g · Fees: other

total $584,803 · program services $179,601 · management and general $353,062 · fundraising $52,140
12 · Advertising and promotion

total $82,186 · program services $20,708 · management and general $32,445 · fundraising $29,033
13 · Office expenses

total $27,488 · program services $9,471 · management and general $18,017
14 · Information technology

total $59,930 · program services $18,105 · management and general $41,825
17 · Travel

total $145,298 · program services $68,561 · management and general $76,737
22 · Depreciation, depletion and amortization

total $43,193 · management and general $43,193
23 · Insurance

total $8,898 · management and general $8,898
24a · Other expenses: DUES & SUBSCRIPTIONS

total $115,610 · management and general $115,610
24b · Other expenses: MEALS AND ENTERTAINMENT

total $63,215 · program services $32,453 · management and general $30,762
24c · Other expenses: EVENT EXPENSES

total $23,736 · program services $23,736
24d · Other expenses: TRAINING AND DEVELOPMEN

total $12,514 · management and general $12,514
24e · All other expenses

total $13,541 · program services $3,500 · management and general $10,041

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $2,553,270 · end of year $2,687,258
4 · Accounts receivable

beginning of year $29,000 · end of year $2,243,877
10a · Land, buildings and equipment: cost or other basis

$43,193
10b · Land, buildings and equipment: accumulated depreciation

$43,193
10c · Land, buildings and equipment, net

beginning of year $35,179 · end of year $0
17 · Accounts payable and accrued expenses

beginning of year $177,000 · end of year $112,180
27 · Net assets without donor restrictions

beginning of year $2,440,449 · end of year $2,075,078
28 · Net assets with donor restrictions

end of year $2,743,877

Mission and programs · 2023

Mission

TO PROVIDE BLACK AND BROWN WOMAN IDENTIFYING AS FOUNDERS WITH ACCESS TO COMMUNITY, EDUCATION AND LEADERSHIP DEVELOPMENT IN ORDER TO MEET BUSINESS MILESTONES THAT LEAD TO ECONOMIC SUCCESS THROUGH ENTREPRENEURSHIP.

TO PROVIDE BLACK AND BROWN WOMAN IDENTIFYING AS FOUNDERS WITH ACCESS TO COMMUNITY, EDUCATION AND LEADERSHIP DEVELOPMENT IN ORDER TO MEET BUSINESS MILESTONES THAT LEAD TO ECONOMIC SUCCESS THROUGH ENTREPRENEURSHIP. BGV PROGRAMS, NEXTGEN AND ELF, HAVE CONTINUED TO REACH THE TARGETED GOAL OF 250 APPLICATIONS PER PROGRAM, PER COHORT. A TOTAL OF 45 FOUNDERS WERE SELECTED TO PARTICIPATE, 25 VISIONARIES (STUDENTS) AND 20 ELF. COHORT 2 OF EACH PROGRAM CONCLUDED IN THE 4TH QUARTER OF 2023. THE FALL PITCH COMPETITION WAS HELD IN 3 CITIES, LOS ANGELES, CALIFORNIA,10/16/23, AUSTIN, TEXAS, 11/02/23 AND NEW YORK, 12/07/23. A TOTAL OF 23 FOUNDERS WERE FUNDED.

Expenses $2,349,181 · Grants $839,406 · Revenue $115,991

As filed on the 2023 return.

Listed in Part VII

Willie WilliamsWILLIE WILLIAMS

BOARD CHAIR

Total calculated

$0

Hours/week

1
Alex NecklesALEX NECKLES

OFFICER

Total calculated

$0

Hours/week

1
Nikisha CarpenterNIKISHA CARPENTER

OFFICER

Total calculated

$0

Hours/week

1
Christina ClarkCHRISTINA CLARK

OFFICER

Total calculated

$0

Hours/week

1
Kristina FrancisKRISTINA FRANCIS

TREASURER

Total calculated

$0

Hours/week

1
Omi BellOMI BELL

CEO

Total calculated

$211,450

From this org

$208,121

From related orgs

$0

Other

$3,329

Hours/week

40

Schedule J breakdown matched by us

Base

$208,121

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$3,329

Filer's total

$211,450

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2023
Filed: 10 December 2024
IRS schema version: 2023v5.1
Source object: 202403549349300120

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