Form 990 for tax year 2023

Filed by BEAUFORT COUNTY BLACK CHAMBER OF.

Totals

Total revenue: $186,548
Total expenses: $593,201
Contributions and grants received: $124,992
Grants paid: $0
Program service revenue: $0
Investment income: $21,399
Other revenue: $40,157
Total assets, end of year: $4,630,834
Total liabilities, end of year: $3,882,515
Net assets or fund balances, end of year: $748,319
Program services expenses (Part IX): $249,675
Management and general expenses: $343,526
Fundraising expenses: $0
Program service expenses (Part III): $249,675

Program services were 42.1% 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.

1a · Federated campaigns

$0
1b · Membership dues

$25,435
1c · Fundraising events

$0
1d · Related organizations

$0
1e · Government grants (contributions)

$50,865
1f · All other contributions, gifts and grants

$48,692
1g · Noncash contributions included above

$0
3 · Investment income

total $21,399 · related or exempt $21,399 · unrelated business $0 · excluded $0
4 · Income from investment of tax-exempt bond proceeds

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
5 · Royalties

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
6a · Gross rents

real property $64,314 · personal property $0
6b · Less rental expenses

real property $24,157 · personal property $0
6c · Rental income or loss

real property $40,157 · personal property $0
6d · Net rental income or loss

total $40,157 · related or exempt $40,157 · unrelated business $0 · excluded $0
7c · Gain or loss

securities $0 · other assets $0
8a · Fundraising events: contributions included on line 1c

$0
11e · Other revenue, total

$0

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $101,419 · management and general $101,419
10 · Payroll taxes

total $3,461 · management and general $3,461
11c · Fees: accounting

total $22,443 · management and general $22,443
11g · Fees: other

total $113,412 · program services $101,209 · management and general $12,203
12 · Advertising and promotion

total $98,440 · management and general $98,440
16 · Occupancy

total $74,161 · management and general $74,161
17 · Travel

total $3,237 · management and general $3,237
24a · Other expenses: STIPENDS PAID TO CONSULTANTS IN PROGRAM

total $148,466 · program services $148,466 · management and general $0 · fundraising $0
24e · All other expenses

total $28,162 · management and general $28,162

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $1,064,874 · end of year $689,788
3 · Pledges and grants receivable

beginning of year $802,986 · end of year $857,887
7 · Other notes and loans receivable

beginning of year $575,610 · end of year $0
8 · Inventories for sale or use

beginning of year $48,833 · end of year $0
9 · Prepaid expenses and deferred charges

beginning of year $26,269 · end of year $25,773
10a · Land, buildings and equipment: cost or other basis

$2,529,235
10b · Land, buildings and equipment: accumulated depreciation

$0
10c · Land, buildings and equipment, net

beginning of year $2,193,065 · end of year $2,529,235
14 · Intangible assets

end of year $528,151
17 · Accounts payable and accrued expenses

beginning of year $53,239 · end of year $23,533
23 · Secured mortgages and notes payable

beginning of year $3,503,426 · end of year $3,858,982
27 · Net assets without donor restrictions

beginning of year -$114,297 · end of year $528,151
28 · Net assets with donor restrictions

beginning of year $1,269,269 · end of year $220,168

Mission and programs · 2023

Mission

The BCBCC is a membership organization dedicated to offering products, services, and educational programming for multi-cultural business owners and professionals within the Beaufort and neighboring communities. The individuals and businesses we serve are federally recognized as disadvantaged business enterprises and/or denied access to capital in traditional finance markets.

Our Microloan Programs help create access to capital for those businesses that have been denied business financing in the traditional lending markets.

Expenses $172,675 · Revenue $21,899
The Beaufort County Black Chamber of Commerce offers several courses that can get you started towards financial freedom or build on your existing knowledge and skills when it comes to your finances.

Expenses $50,672 · Revenue $22,120
event space rental income

Expenses $24,157 · Revenue $64,314
We are a membership organization which provides business services to its members.

Expenses $2,171 · Revenue $25,435

As filed on the 2023 return.

Listed in Part VII

Larry Holman

CEO

Total calculated

$124,002

From this org

$62,001

From related orgs

$62,001

Other

$0

Hours/week

40 + 40 related

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: 10 July 2025
IRS schema version: 2023v6.0
Source object: 202502029349301015

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