Form 990 for tax year 2022

Filed by ACCELERATE 500 INC.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2022 , filed 23 December 2024. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue: $3,813,997 changed to $6,555,531
Total expenses: $4,233,440 changed to $4,506,128
Contributions and grants received: $3,813,997 changed to $6,407,182
Program service revenue: $0 changed to $51,245
Other revenue: $0 changed to $97,104
Total assets, end of year: $7,076,580 changed to $8,379,905
Total liabilities, end of year: $2,938,452 changed to $1,772,930
Net assets or fund balances, end of year: $4,138,128 changed to $6,606,975
Program services expenses: $1,675,975 changed to $3,437,806
Management and general expenses: $2,297,331 changed to $958,070
Fundraising expenses: $260,134 changed to $110,252
Program service expenses (Part III): $1,675,975 changed to $3,437,806

Totals

Total revenue: $3,813,997
Total expenses: $4,233,440
Contributions and grants received: $3,813,997
Grants paid: $593,250
Program service revenue: $0
Investment income: $0
Other revenue: $0
Total assets, end of year: $7,076,580
Total liabilities, end of year: $2,938,452
Net assets or fund balances, end of year: $4,138,128
Program services expenses (Part IX): $1,675,975
Management and general expenses: $2,297,331
Fundraising expenses: $260,134
Program service expenses (Part III): $1,675,975

Program services were 39.6% 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

$3,813,997

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $567,250 · program services $567,250
2 · Grants to domestic individuals

total $26,000 · program services $26,000
5 · Compensation of officers, directors and key employees

total $318,182 · management and general $318,182
7 · Other salaries and wages

total $623,347 · program services $43,333 · management and general $580,014
9 · Other employee benefits

total $84,996 · management and general $84,996
10 · Payroll taxes

total $70,472 · management and general $70,472
11b · Fees: legal

total $64,938 · management and general $64,938
11c · Fees: accounting

total $126,167 · management and general $126,167
11g · Fees: other

total $1,660,419 · program services $980,890 · management and general $679,529
12 · Advertising and promotion

total $50,091 · program services $24,676 · management and general $7,976 · fundraising $17,439
13 · Office expenses

total $2,413 · management and general $2,413
16 · Occupancy

total $108,942 · management and general $108,942
17 · Travel

total $113,685 · program services $12,063 · management and general $101,622
22 · Depreciation, depletion and amortization

total $461 · management and general $461
23 · Insurance

total $14,752 · management and general $14,752
24a · Other expenses: PODCASTS

total $242,695 · fundraising $242,695
24b · Other expenses: DUES AND SUBSCRIPTIONS

total $113,848 · program services $20,834 · management and general $93,014
24c · Other expenses: MEALS

total $17,869 · program services $929 · management and general $16,940
24d · Other expenses: CONFERENCES

total $7,879 · management and general $7,879
24e · All other expenses

total $19,034 · management and general $19,034

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $4,344,918 · end of year $6,889,132
3 · Pledges and grants receivable

beginning of year $403,000 · end of year $0
5 · Loans and receivables from officers and key people

beginning of year $1,530 · end of year $2,870
9 · Prepaid expenses and deferred charges

beginning of year $16,221 · end of year $21,112
10a · Land, buildings and equipment: cost or other basis

$8,894
10b · Land, buildings and equipment: accumulated depreciation

$461
10c · Land, buildings and equipment, net

beginning of year $0 · end of year $8,433
12 · Investments: other securities

beginning of year $91 · end of year $91
15 · Other assets

beginning of year $95,674 · end of year $154,942
17 · Accounts payable and accrued expenses

beginning of year $98,651 · end of year $94,330
19 · Deferred revenue

beginning of year $178,000 · end of year $275,000
25 · Other liabilities

beginning of year $31,280 · end of year $2,569,122
27 · Net assets without donor restrictions

beginning of year $4,553,503 · end of year $4,138,128

Mission and programs · 2022

Mission

ACCELERATE 500 INC. IS A BUSINESS DEVELOPMENT PROGRAM DEESIGNED TO BRIDGE THE GAP BETWEEN ENTREPRENEURSHIP AND EQUITY. OUR PROGRAMS SEEK TO ACCELERATE NEW MAJORITY ENTREPENEURS FROM HIGH POTENTIAL TO HIGH GROWTH. OUR VISION IS TO CREATE $100 BILLION OF NEW WEALTH AND ECONOMIC POWER FOR AND BY THE NEW MAJORITY. THE FIRM PROVIDES SEVERAL PROGRAMS DESIGNED TO SUPPORT VARIOUS STAGES IN THE LIFECYCLE TO INCLUDE EARLY-STAGE AND GROWTH-STAGE.

Activities or mission (Part I)

A BUSINESS DEVELOPMENT PROGRAM DESIGNED TO BRIDGE THE GAP BETWEEN ENTREPRENEURSHIP AND EQUITY.

1. BEYOND 5- THE BEYOND 5 CAMPAIGN IS DESIGNED TO PROMOTE AND SUPPORT NEW MAJORITY BUSINESSES TO INCREASE THE LIKELIHOOD OF BUSINESS SUCCESS BEYOND THE TYPICAL FAILURE RATE OF 5 YEARS. THE CAMPAIGN IS COMPRISED OF THREE STRATEGIES:I. NATIONAL SOCIAL MEDIA CAMPAIGN IN AN EFFORT TO CHANGE THE NEGATIVE NARRATIVE AROUND FOUNDERS FOR COLOR, WE HAVE INITIATED A SOCIAL MEDIA CAMPAIGN TO PROMOTE NEW MAJORITY FOUNDERS WHO HAVE MADE IT BEYOND 5. OUR GOAL IS TO LEVERAGE OUR SOCIAL MEDIA, AND THAT OF OUR PARTNERS, TO PROMOTE THE SUCCESS STORIES OF NEW MAJORITY ENTREPRENEURS WHO HAVE BEEN RUNNING BUSINESSES BEYOND 5 YEARS. WE WELCOME ANY SELF-NOMINATIONS OR RECOMMENDATIONS FOR ENTREPRENEURS TO PROMOTE IN THE CAMPAIGN; EMAIL US AT [email protected]. SURVIVABILITY RESEARCH REPORTTHERE IS A DEARTH OF PRIMARY RESEARCH AND IN-DEPTH ANALYSIS ON WHAT IT TAKES A BUSINESS TO SURVIVE BEYOND 5 YEARS. OUR REPORT WILL COLLECT DATA FROM OVER 1,000 CANDIDATES AND SEEK TO PROVIDE INSIGHT ON KEY INPUTS FOR SURVIVING BEYOND 5 YEARS. WE WILL PROVIDE CASE STUDIES, AS WELL AS OUTLINES AREAS OF OPPORTUNITY FOR ECOSYSTEM BUILDERS, POLICY MAKERS, INVESTORS, AND THE LIKE TO HELP ADVANCE THESE BUSINESSES BEYOND THE "VALLEYS OF DEATH".2. PIPELINE PROGRAM - THE PIPELINE PROGRAM WAS CREATED TO EQUIP FOUNDERS WITH THE PROCESSES, MINDSETS AND GUIDANCE TO ADDRESS THESE CHALLENGES AND RAPIDLY ACCELERATE TOWARDS SCALE. THE AIM OF THE PIPELINE PROGRAM IS TO WORK WITH BUSINESS LEADERS TO IDENTIFY BUSINESS GOALS AND THEN DEVELOP AN ACTIONABLE PLAN TO NOT ONLY TO HELP THEM ACHIEVE THEIR GOALS, BUT TO HELP THEIR BUSINESS BECOME SUSTAINABLE. BY HELPING ENTREPRENEURS BUILD BETTER BUSINESSES, PIPELINE ENABLES COMPANIES TO ATTRACT THE TALENT, CAPITAL AND CONNECTIONS NEEDED FORLAST GROWTH AND DEVELOPMENT. THE PIPELINE PROGRAM IS FOCUSED ON HELPING ENTREPRENEURS GROW A SUCCESSFUL BUSINESS. THE PROGRAM'S FOCUS IS BEYOND LEARNING HOW TO PITCH AND PRESENT. INSTEAD, TIME IS INTENTIONALLY SPENT ON SUPPORTING BUSINESSES ON A PATH TO MATURITY. ENTREPRENEURS COMPLETING THE PROGRAM WILL HAVE A MORE INVESTMENT-READY BUSINESS AND TRULY UNDERSTAND WHY AND HOW TO DEPLOY FUTURE FINANCINGS.3. HERIMPACT - HERIMPACT IS DESIGNED TO HELP FEMALE SOCIAL ENTREPRENEURS SCALE THEIR ENTERPRISES IN ORDER TO INCREASE THEIR IMPACT AND LONG-TERM SUSTAINABILITY. THE PROGRAM WAS INITIATED IN THE FALL OF 2018. THE INITIATIVE IS COMPRISED OF AN ENTREPRENEURSHIP SUMMIT, WHICH IS DESIGNED TO BUILD COMMUNITY AND INCREASE THE CAPACITY OF FEMALE SOCIAL ENTREPRENEURS THROUGH ADVICE FROM EXPERTS, ONLINE TOOLS AND NETWORKING. THE INITIATIVE ALSO INCLUDES A PITCH COMPETITION, DESIGNED TO INVEST IN EARLY AND GROWTH STAGE COMPANIES IN THE REGION.

Expenses $1,675,975 · Grants $593,250

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Melissa BradleyMELISSA BRADLEY

MANAGING PARTNER

Total calculated

$318,182

From this org

$318,182

From related orgs

$0

Other

$0

Hours/week

1

Schedule J breakdown matched by us

Base

$318,182

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$0

Filer's total

$318,182
Jenn FlynnJENN FLYNN

CHAIR

Total calculated

$0

Hours/week

1
Graham McLaughlinGRAHAM MCLAUGHLIN

VICE CHAIR

Total calculated

$0

Hours/week

1
Vonetta YoungVONETTA YOUNG

DIRECTOR

Total calculated

$0

Hours/week

1
Rustin BrownRUSTIN BROWN

DIRECTOR

Total calculated

$0

Hours/week

1
Marissa MahoneyMARISSA MAHONEY

DIRECTOR

Total calculated

$0

Hours/week

1
Aerica BanksAERICA BANKS

DIRECTOR

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

3 · Approval by the board or compensation committee

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

RUTHLESS BEAUTY LLC

$10,000

BUSINESS CONTINUITY
SWEETS BY KEET LLC

$10,000

BUSINESS CONTINUITY
KEISHA ELISE COSMETICS

$7,000

BUSINESS CONTINUITY
ABOVE STANDARD CLEANING COMPANY

$5,000

BUSINESS CONTINUITY
ALWAYS GOOD KUTZ LLC

$5,000

BUSINESS CONTINUITY
ARTPLUS GROUP LLC

$5,000

BUSINESS CONTINUITY
ATTRACTIVE CUTS STUDIO LLC

$5,000

BUSINESS CONTINUITY
AYANII & COMPANY LLC

$5,000

BUSINESS CONTINUITY
BELLA LOVE EVENTS LLC

$5,000

BUSINESS CONTINUITY
BLAIR AND BLOOM LLC

$5,000

BUSINESS CONTINUITY

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type: form_990
Tax year: 2022
Filed: 15 November 2023
IRS schema version: 2022v5.0
Source object: 202313199349301606

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.