Totals
- Total revenue
- $969,223
- Total expenses
- $376,163
- Contributions and grants received
- $846,857
- Grants paid
- $2,500
- Program service revenue
- $115,334
- Investment income
- $6,643
- Other revenue
- $389
- Total assets, end of year
- $1,000,747
- Total liabilities, end of year
- $194,607
- Net assets or fund balances, end of year
- $806,140
- Program services expenses (Part IX)
- $308,638
- Management and general expenses
- $28,079
- Fundraising expenses
- $39,446
- Program service expenses (Part III)
- $308,638
Program services were 82.0% 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.
-
1c · Fundraising events
$61,632
-
1e · Government grants (contributions)
$238,200
-
1f · All other contributions, gifts and grants
$547,025
-
2a · Program service revenue: Signature Events
total $51,056 · unrelated business $0 · excluded $0
-
2b · Program service revenue: Educational Events
total $64,278 · unrelated business $0 · excluded $0
-
3 · Investment income
total $6,643 · unrelated business $0 · excluded $0
-
8a · Fundraising events: contributions included on line 1c
$61,632
-
11a · Other revenue: Donations to be allocated
total $139 · related or exempt $139 · unrelated business $0 · excluded $0
-
11b · Other revenue: Miscellaneous
total $250 · related or exempt $250 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$389
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $2,500 · program services $2,500
-
11c · Fees: accounting
total $3,423 · program services $0 · management and general $3,423 · fundraising $0
-
12 · Advertising and promotion
total $7,702 · program services $3,851 · management and general $3,851 · fundraising $0
-
13 · Office expenses
total $16,926 · program services $11,864 · management and general $5,062 · fundraising $0
-
16 · Occupancy
total $2,410 · program services $0 · management and general $2,410 · fundraising $0
-
17 · Travel
total $1,796 · program services $1,437 · management and general $359 · fundraising $0
-
20 · Interest
total $1,417 · program services $0 · management and general $1,417 · fundraising $0
-
24e · All other expenses
total $339,989 · program services $288,986 · management and general $11,557 · fundraising $39,446
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,190,532 · end of year $937,585
-
4 · Accounts receivable
beginning of year $0 · end of year $62,574
-
9 · Prepaid expenses and deferred charges
beginning of year $2,000 · end of year $588
-
15 · Other assets
beginning of year $12,250
-
17 · Accounts payable and accrued expenses
beginning of year $32,989 · end of year $61,805
-
19 · Deferred revenue
end of year $1,500
-
24 · Unsecured notes and loans payable
beginning of year $139,635 · end of year $131,302
-
27 · Net assets without donor restrictions
beginning of year -$844,673 · end of year -$1,070,691
-
28 · Net assets with donor restrictions
beginning of year $1,876,831 · end of year $1,876,831
Mission and programs · 2022
Mission
MBL Foundation, Inc. is the backbone for the development, support, and advancement of small, minority and women-owned businesses in the Richmond & Tri-cities areas.
-
Signature Events
Expenses $168,045 · Revenue $51,056
-
MBL Youth Activities
Expenses $33,068 · Revenue $64,278
-
MBL Education/Training & Small Business Grant/Other Business Expenses
Expenses $107,525
As filed on the 2022 return.
Listed in Part VII
-
Scottessa Hurte
Board Chair
- Total calculated
- $0
- Hours/week
- 40
-
Nickkol Lewis
Vice Chair
- Total calculated
- $0
- Hours/week
- 1.5
-
Chris Layne
Treasurer
- Total calculated
- $0
- Hours/week
- 1.5
-
David LeFebvre
Secretary
- Total calculated
- $0
- Hours/week
- 1.5
-
Brittany Rawlinson
Vice Secretary
- Total calculated
- $0
- Hours/week
- 1.5
-
Gagan Marwaha
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
Sharon Dabney-Wooldridge
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
Connie Hom
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
Jeff Conley
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
William Carter
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
Greg Hofbauer
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
Kevin Kenny
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
Floyd E Miller
President
- Total calculated
- $0
- Hours/week
- 40
-
Tanya Battle
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
Kathryn Dolan
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
Patrick McFadden
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
Lisa Speller
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
Mac Livingston
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
Wendy Burchard
Director
- Total calculated
- $0
- Hours/week
- 1.5
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
- 2022
- Filed
- 14 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202421399349300002
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