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Nonprofiteer
← BLACK ECONOMIC DEVELOPMENT COALITION INC

Form 990 for tax year 2022

Filed by BLACK ECONOMIC DEVELOPMENT COALITION INC.

Totals

Total revenue
$791,216
Total expenses
$946,968
Contributions and grants received
$752,830
Grants paid
$0
Program service revenue
$7,772
Investment income
$30,614
Other revenue
$0
Total assets, end of year
$7,096,450
Total liabilities, end of year
$5,120,273
Net assets or fund balances, end of year
$1,976,177
Program services expenses (Part IX)
$717,173
Management and general expenses
$229,795
Fundraising expenses
$0
Program service expenses (Part III)
$717,173

Program services were 75.7% 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

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $752,830

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: FEES FOR SERVICES

    total $7,772 · related or exempt $7,772 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $30,614 · related or exempt $30,614 · 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

  • 6c · Rental income or loss

    real property $0 · personal property $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 $30,900 · management and general $30,900

  • 7 · Other salaries and wages

    total $210,435 · program services $210,435

  • 9 · Other employee benefits

    total $37,812 · program services $37,812

  • 10 · Payroll taxes

    total $20,114 · program services $17,750 · management and general $2,364

  • 11c · Fees: accounting

    total $29,016 · program services $29,016

  • 12 · Advertising and promotion

    total $343 · program services $343

  • 13 · Office expenses

    total $37,864 · program services $37,864

  • 16 · Occupancy

    total $30,357 · program services $30,357

  • 17 · Travel

    total $75 · program services $75

  • 23 · Insurance

    total $8,654 · program services $8,654

  • 24a · Other expenses: PROGRAM SERVICES EXPENSES

    total $344,867 · program services $344,867 · management and general $0 · fundraising $0

  • 24b · Other expenses: BAD DEBT EXPENNNNSE

    total $196,531 · program services $0 · management and general $196,531 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $33,701 · end of year $15,231

  • 3 · Pledges and grants receivable

    beginning of year $393,076 · end of year $504,450

  • 7 · Other notes and loans receivable

    beginning of year $6,561,624 · end of year $6,576,769

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

    $8,636

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

    $8,636

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $68,750 · end of year $74,609

  • 19 · Deferred revenue

    beginning of year $225,512 · end of year $181,512

  • 24 · Unsecured notes and loans payable

    beginning of year $0

  • 25 · Other liabilities

    beginning of year $4,562,210 · end of year $4,864,152

  • 27 · Net assets without donor restrictions

    beginning of year $2,128,950 · end of year $1,973,198

  • 28 · Net assets with donor restrictions

    beginning of year $2,979 · end of year $2,979

Mission and programs · 2022

Mission

PROVIDE TECHNICAL ASSISTANCE AND LOANS TO SMALL BUSINESSES

Activities or mission (Part I)

ADMINISTER'S LOAN PROGRAMS WHO'S PURPOSE IS TO PROVIDE SMALL BUSINESSES AND MICROENTERPRISES IN MIAMI DADE COUNTY THE FINANCING AND TECHNICAL ASSISTANCE NEEDED TO ASSIST WITH JOB CREATION, EQUIPMENT PURCHASES AND WORKING CAPITAL

  • PROVIDE TECHNICAL ASSISTANCE AND LOANS TO SMALL BUSINESSES

    Expenses $717,173

As filed on the 2022 return.

Listed in Part VII

  • Leroy Jones

    EXECUTIVE DIRECTORS

    Total calculated
    $30,900
    From this org
    $30,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    22

  • Verbert C Anderson

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Nick Decius

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Betty George

    TREASURER

    Total calculated
    $0
    Hours/week
    2

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • TOOLS FOR MAGIC

    C · NEW MARKET TAX CREDITS · FL · 100% owned · controlled entity

    Directly controlled by BLACK ECONOMIC DEVELOPMENT COALITION INC

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202303189349318715

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