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← COMMUNITY ECONOMIC ADVANCEMENT INITIATIVE INC

Form 990 for tax year 2022

Filed by COMMUNITY ECONOMIC ADVANCEMENT INITIATIVE INC.

Totals

Total revenue
$291,912
Total expenses
$401,967
Contributions and grants received
$21,385
Grants paid
$72,680
Program service revenue
$160,488
Investment income
$110,039
Other revenue
$0
Total assets, end of year
$658,390
Total liabilities, end of year
$170,654
Net assets or fund balances, end of year
$487,736
Program services expenses (Part IX)
$291,499
Management and general expenses
$110,468
Fundraising expenses
$0
Program service expenses (Part III)
$291,499

Program services were 72.5% 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

    $21,385

  • 2a · Program service revenue: Economic Develoment

    total $160,488 · related or exempt $160,488

  • 7a · Gross sales of assets other than inventory

    other assets $650,000

  • 7b · Less cost or other basis and sales expenses

    other assets $539,961

  • 7c · Gain or loss

    other assets $110,039

  • 7d · Net gain or loss

    total $110,039 · related or exempt $110,039

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $25,000 · program services $25,000

  • 2 · Grants to domestic individuals

    total $47,680 · program services $47,680

  • 5 · Compensation of officers, directors and key employees

    total $91,667 · program services $61,417 · management and general $30,250

  • 7 · Other salaries and wages

    total $46,617 · management and general $46,617

  • 10 · Payroll taxes

    total $4,291 · management and general $4,291

  • 11a · Fees: management

    total $81,188 · program services $79,938 · management and general $1,250

  • 11b · Fees: legal

    total $6,840 · program services $6,840

  • 11c · Fees: accounting

    total $4,960 · management and general $4,960

  • 11g · Fees: other

    total $23,953 · program services $21,895 · management and general $2,058

  • 12 · Advertising and promotion

    total $24,213 · program services $24,213

  • 13 · Office expenses

    total $6,034 · program services $4,043 · management and general $1,991

  • 14 · Information technology

    total $3,465 · program services $2,321 · management and general $1,144

  • 16 · Occupancy

    total $18,318 · program services $11,358 · management and general $6,960

  • 17 · Travel

    total $1,978 · program services $1,978

  • 20 · Interest

    total $4,331 · program services $2,902 · management and general $1,429

  • 22 · Depreciation, depletion and amortization

    total $2,856 · program services $1,914 · management and general $942

  • 23 · Insurance

    total $7,366 · management and general $7,366

  • 24a · Other expenses: Dues & Subscriptions

    total $515 · management and general $515

  • 24e · All other expenses

    total $695 · management and general $695

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,956 · end of year $296,238

  • 9 · Prepaid expenses and deferred charges

    beginning of year $671 · end of year $2,628

  • 10a · Land, buildings and equipment: cost or other basis

    $133,397

  • 10b · Land, buildings and equipment: accumulated depreciation

    $19,203

  • 10c · Land, buildings and equipment, net

    beginning of year $671,548 · end of year $114,194

  • 15 · Other assets

    end of year $245,330

  • 17 · Accounts payable and accrued expenses

    beginning of year $14,502

  • 23 · Secured mortgages and notes payable

    beginning of year $78,898 · end of year $170,654

  • 24 · Unsecured notes and loans payable

    beginning of year $2,660

  • 27 · Net assets without donor restrictions

    beginning of year $579,115 · end of year $487,736

Mission and programs · 2022

Mission

Create and support social, economic and cultural development in the arts, education, recreation, employment and spirituality which enhance ownership, connection, caring & kinship in the African-American commun

Activities or mission (Part I)

Create Support social economic cultural development in the arts and education by redevelopment of community properties and job creatio

  • Economic Development of community construction, planning, development of neighborhood market, and office and training. Remove blight invest in affordable housing. Three projects were initiated including Bond Hill Market, California Project, and the Dawn Road affordable housing project.

    Expenses $223,924 · Grants $25,000 · Revenue $142,488

  • Provided youth education and small business boot camps. Entrepreneur training academy to at risk youth in the community.

    Expenses $67,575 · Grants $47,680 · Revenue $18,000

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Damon Lynch III

    Chairman

    Total calculated
    $0

  • Kz Smith

    Secretary

    Total calculated
    $0

  • Larry Burnett

    Treasurer

    Total calculated
    $0

  • Jerry Culbreath

    Director

    Total calculated
    $0

  • Angie Fairbanks

    Director

    Total calculated
    $0

  • Kristen Kitchen

    Director

    Total calculated
    $0

  • Sil Watkins

    Director

    Total calculated
    $0

  • Eugene Ellington Mpa

    PresidentCEO

    Total calculated
    $0

  • Amber Kelly

    Director

    Total calculated
    $0

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.

Grants on this return

Provenance

Return type
form_990
Tax year
2022
Filed
14 October 2023
IRS schema version
2022v5.0
Source object
202342879349300014

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