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Nonprofiteer
← CALIFORNIA BLACK CHAMBER OF COMMERCE FOUNDATION INC

Form 990 for tax year 2022

Filed by CALIFORNIA BLACK CHAMBER OF COMMERCE FOUNDATION INC.

Totals

Total revenue
$524,709
Total expenses
$471,950
Contributions and grants received
$524,709
Grants paid
$178,588
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$257,505
Total liabilities, end of year
$149,359
Net assets or fund balances, end of year
$108,146
Program services expenses (Part IX)
$358,916
Management and general expenses
$113,034
Fundraising expenses
$0
Program service expenses (Part III)
$358,916

Program services were 76.0% 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.

  • 1b · Membership dues

    $600

  • 1e · Government grants (contributions)

    $216,930

  • 1f · All other contributions, gifts and grants

    $307,179

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $178,588 · program services $178,588

  • 5 · Compensation of officers, directors and key employees

    total $10,880 · program services $0 · management and general $10,880 · fundraising $0

  • 11b · Fees: legal

    total $4,400 · program services $0 · management and general $4,400 · fundraising $0

  • 11c · Fees: accounting

    total $5,758 · program services $0 · management and general $5,758 · fundraising $0

  • 11g · Fees: other

    total $180,328 · program services $180,328 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $21,355 · program services $0 · management and general $21,355 · fundraising $0

  • 14 · Information technology

    total $4,169 · program services $0 · management and general $4,169 · fundraising $0

  • 16 · Occupancy

    total $11,358 · program services $0 · management and general $11,358 · fundraising $0

  • 17 · Travel

    total $152 · program services $0 · management and general $152 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $11,225 · program services $0 · management and general $11,225 · fundraising $0

  • 24a · Other expenses: RADIO EXPENSES

    total $17,560 · program services $0 · management and general $17,560 · fundraising $0

  • 24b · Other expenses: BUSINESS EXPENSES

    total $131 · program services $0 · management and general $131 · fundraising $0

  • 24c · Other expenses: TELEPHONE

    total $26,046 · program services $0 · management and general $26,046 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $29,702 · end of year $252,505

  • 2 · Savings and temporary cash investments

    beginning of year $20,686 · end of year $0

  • 15 · Other assets

    beginning of year $5,000 · end of year $5,000

  • 24 · Unsecured notes and loans payable

    end of year $149,359

  • 31 · Retained earnings, endowment or other funds

    beginning of year $55,388 · end of year $108,146

Mission and programs · 2022

Mission

THE MISSION OF THE FOUNDATION IS TO ADMINISTER FOUNDATION ASSETS AND INCOME EXCLUSIVELY FOR CHARITABLE PURPOSES.

Activities or mission (Part I)

THE MISSION OF THE FOUNDATION IS TO ADMINISTER AND EXECUTE PROGRAMS FOR MARGINALIZED COMMUNITIES.

  • THE SPECIFIC PURPOSE OF THE FOUNDATION IS TO MAKE GRANTS, LOANS OR OTHER DISTRIBUTIONS EXCLUSIVELY TO THE CALIFORNIA BLACK CHAMBER OF COMMERCE INC AND TO OPERATE EXCLUSIVELY FOR CHARITABLE EDUCATIONAL AND RESEARCH PURPOSES. IN ADDITION TO PROVIDING ACADEMIC SCHOLARSHIPS TO QUALIFIED INDIVIDUALS.

    Expenses $358,916 · Grants $178,588 · Revenue $524,709

As filed on the 2022 return.

Listed in Part VII

  • Ruth Artates-Rezaie

    CHIEF FINANCIAL OFFICER

    Total calculated
    $0
    Hours/week
    4

  • Delores E Thompson

    SECRETARY

    Total calculated
    $0
    Hours/week
    4

  • Jay A King III

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $10,880
    From this org
    $10,880
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

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
5 June 2023
IRS schema version
2022v5.0
Source object
202311639349301811

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