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Nonprofiteer
← BELOVED COMMUNITY INCUBATOR INC

Form 990 for tax year 2023

Filed by BELOVED COMMUNITY INCUBATOR INC.

Totals

Total revenue
$1,137,098
Total expenses
$1,042,575
Contributions and grants received
$1,129,011
Grants paid
$12,350
Program service revenue
$7,744
Investment income
$343
Other revenue
$0
Total assets, end of year
$312,692
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$312,692
Program services expenses (Part IX)
$918,423
Management and general expenses
$98,941
Fundraising expenses
$25,211
Program service expenses (Part III)
$918,423

Program services were 88.1% 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

    $1,129,011

  • 2a · Program service revenue: MANAGEMENT CONSULTING

    total $7,744 · related or exempt $7,744

  • 3 · Investment income

    total $343 · excluded $343

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,750 · program services $4,750

  • 2 · Grants to domestic individuals

    total $7,600 · program services $7,600

  • 5 · Compensation of officers, directors and key employees

    total $261,168 · program services $232,351 · management and general $16,465 · fundraising $12,352

  • 7 · Other salaries and wages

    total $104,301 · program services $76,067 · management and general $23,839 · fundraising $4,395

  • 9 · Other employee benefits

    total $38,037 · program services $31,475 · management and general $5,327 · fundraising $1,235

  • 10 · Payroll taxes

    total $137,753 · program services $113,360 · management and general $17,324 · fundraising $7,069

  • 11c · Fees: accounting

    total $250 · management and general $250

  • 11g · Fees: other

    total $228,296 · program services $225,378 · management and general $2,831 · fundraising $87

  • 13 · Office expenses

    total $23,500 · program services $8,368 · management and general $15,093 · fundraising $39

  • 14 · Information technology

    total $1,452 · program services $1,104 · management and general $318 · fundraising $30

  • 16 · Occupancy

    total $105,121 · program services $102,441 · management and general $2,680

  • 17 · Travel

    total $19,209 · program services $18,593 · management and general $616

  • 19 · Conferences, conventions and meetings

    total $33,669 · program services $26,837 · management and general $6,832

  • 23 · Insurance

    total $1,962 · program services $208 · management and general $1,750 · fundraising $4

  • 24a · Other expenses: MIGRANT SUPPORT PROJECT

    total $52,578 · program services $52,578

  • 24b · Other expenses: PROGRAM SUPPLIES

    total $12,401 · program services $12,401

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $7,932 · program services $2,366 · management and general $5,566

  • 24d · Other expenses: LOBBY DAY AND HEARING S

    total $2,596 · program services $2,546 · management and general $50

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $209,500 · end of year $312,692

  • 4 · Accounts receivable

    beginning of year $200

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,412

  • 27 · Net assets without donor restrictions

    beginning of year $207,763 · end of year $312,167

  • 28 · Net assets with donor restrictions

    beginning of year $525 · end of year $525

Mission and programs · 2023

Mission

BELOVED COMMUNITY INCUBATOR (BCI) IS WORKER SELF-DIRECTED NON-PROFIT THAT SUPPORTS AND ORGANIZES RESOURCES FOR COMMUNITY-BASED COOPERATIVES AND COLLECTIVES IN THE DC METRO AREA. BCI PROVIDES HIGH-TOUCH INCUBATION SUPPORT - INCLUDING LEADERSHIP DEVELOPMENT, ECOSYSTEM AND RESOURCE ORGANIZING AND LEGAL, BOOKKEEPING AND ADMINISTRATIVE SUPPORT - FOR NEW COOPERATIVES THAT CREATE LIVING WAGE WORK AND THAT ARE LED BY POOR AND WORKING CLASS BLACK, BROWN, INDIGENOUS AND PEOPLE OF COLOR.

Activities or mission (Part I)

SUPPORT AND ORGANIZE RESOURCES FOR COMMUNITY-BASED COOPERATIVES AND COLLECTIVES IN DC METRO AREA

  • WE SUPPORT WORKERS TO CREATE AND MAINTAIN COLLECTIVELY OWNED BUSINESSES SO THAT WORKERS CAN CONTROL THEIR WORK, PAY THEMSELVES LIVING WAGES, BUILD A DEMOCRATIC PRACTICE OF STEWARDING RESOURCES TOGETHER AND ENGAGE IN THE WIDER DMV AREA MOVEMENT ECOSYSTEM THAT IS BUILDING ABOLITION AND DECOLONIZATION. WE PROVIDE HIGH-TOUCH INCUBATION SUPPORT - INCLUDING LEADERSHIP DEVELOPMENT, ECOSYSTEM AND RESOURCE ORGANIZING AND LEGAL, BOOKKEEPING AND ADMINISTRATIVE SUPPORT - FOR NEW COOPERATIVES THAT CREATE LIVING WAGE WORK AND THAT ARE LED BY POOR AND WORKING CLASS BLACK, BROWN, INDIGENOUS AND PEOPLE OF COLOR. IN ADDITION TO HIGH-TOUCH INCUBATION SUPPORT, WE PROVIDE TECHNICAL ASSISTANCE AND NON-EXTRACTIVE LENDING TO DC-AREA COOPERATIVES AND COLLECTIVES. WE ALSO ORGANIZE FOR WORKER POWER AND COLLECTIVE CONTROL OF RESOURCES IN DC THROUGH COMMUNITY ORGANIZING, BROAD-BASED CAMPAIGNS AND MUTUAL AID.

    Expenses $694,250 · Grants $12,350 · Revenue $7,744

  • BCI INCUBATES NEW COOPERATIVES AND COLLECTIVES, PROVIDING SUPPORT FOR WORKERS THROUGH THE ENTIRE PROCESS OF CREATING AND LAUNCHING THEIR BUSINESS OPERATIONS. AS AN INCUBATOR, WE PROVIDE PRE-LAUNCH SUPPORT, BUSINESS & LEADERSHIP DEVELOPMENT, GOVERNANCE AND CONFLICT RESOLUTION TRAININGS, AND LEGAL, BOOKKEEPING, AND ADMINISTRATIVE SUPPORT.

    Expenses $224,173

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Bianca Vazquez

    CO-PRESIDENT/PROGRAM DIRECTOR

    Total calculated
    $82,404
    From this org
    $76,931
    From related orgs
    $0
    Other
    $5,473
    Hours/week
    40

  • Geoffrey Gilbert

    LEGAL AND TECHNICAL DIRECTOR

    Total calculated
    $82,244
    From this org
    $77,328
    From related orgs
    $0
    Other
    $4,916
    Hours/week
    40

  • Megan Felix Macaraeg

    CO-PRESIDENT/ORGANIZING DIRECTOR

    Total calculated
    $96,520
    From this org
    $81,208
    From related orgs
    $0
    Other
    $15,312
    Hours/week
    40

  • Qaadir El Amin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Celeste Smith

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Alana Eichner

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Norma Chavez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Benji Rivera

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Madhvi Bahl

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Meghan Sobocienski

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Josh King

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Calvin Johnson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202403209349322840

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