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← BLACK ECONOMIC COLLECTIVE

Form 990 for tax year 2023

Filed by BLACK ECONOMIC COLLECTIVE.

Totals

Total revenue
$233,756
Total expenses
$129,196
Contributions and grants received
$233,756
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$121,519
Total liabilities, end of year
$16,959
Net assets or fund balances, end of year
$104,560
Program services expenses (Part IX)
$56,630
Management and general expenses
$72,116
Fundraising expenses
$450
Program service expenses (Part III)
$56,630

Program services were 43.8% 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

    $28,291

  • 1e · Government grants (contributions)

    $153,265

  • 1f · All other contributions, gifts and grants

    $52,200

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $58,378 · program services $33,793 · management and general $24,585

  • 10 · Payroll taxes

    total $6,153 · program services $3,578 · management and general $2,575

  • 11a · Fees: management

    total $28,500 · management and general $28,500

  • 11b · Fees: legal

    total $35 · management and general $35

  • 11c · Fees: accounting

    total $6,800 · management and general $6,800

  • 12 · Advertising and promotion

    total $1,042 · management and general $592 · fundraising $450

  • 13 · Office expenses

    total $12,554 · program services $8,203 · management and general $4,351

  • 14 · Information technology

    total $1,885 · program services $122 · management and general $1,763

  • 17 · Travel

    total $2,773 · program services $2,773

  • 23 · Insurance

    total $495 · management and general $495

  • 24a · Other expenses: CATERING SERVICES

    total $5,175 · program services $5,175

  • 24b · Other expenses: FIELD TRIPS

    total $1,128 · program services $1,128

  • 24c · Other expenses: TAXES AND LICENSING

    total $298 · management and general $298

  • 24e · All other expenses

    total $3,980 · program services $1,858 · management and general $2,122

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $121,519

  • 17 · Accounts payable and accrued expenses

    end of year -$20

  • 24 · Unsecured notes and loans payable

    end of year $16,979

  • 27 · Net assets without donor restrictions

    end of year -$48,205

  • 28 · Net assets with donor restrictions

    end of year $152,765

Mission and programs · 2023

Mission

THE BLACK ECONOMIC COLLECTIVE IS A GRASSROOTS, COMMUNITY-BASED ORGANIZATION WITH A MISSION OF COMMUNITY DEVELOPMENT THROUGH FINANCIAL EDUCATION, RESOURCE ALLOCATION, AND A COLLABORATIVE EFFORT.

  • BECS COMMUNITY OUTREACH INITIATIVE IS PRIMARILY EXPRESSED THROUGH A CONCERTED,INTENTIONAL EFFORT TO HIGHLIGHT AND APPRECIATE THE AMAZING WORK BEING DONE BY OTHER BLACK ORGANIZATIONS AS WELL AS THE SERVICES PROVIDED BY OUR LOCAL BLACK BUSINESSES.

    Expenses $18,877

  • BECS ECONOMIC EMPOWERMENT INITIATIVE IS DEMONSTRATED THROUGH MULTIPLE PROJECTS SUCH AS OUR FINANCIAL LITERACY WORKSHOPS, ANNUAL HOMEOWNERSHIP WORKSHOP AND OUR SUPPORT BLACK BUSINESS CHALLENGE.

    Expenses $18,877

  • BECS YOUTH ENRICHMENT INITIATIVE IS CARRIED OUT THROUGH OUR LITTLE AFRICA PROGRAM. LITTLE AFRICA IS A MENTORSHIP PROGRAM, GEARED TOWARDS BLACK MALE YOUTH WHERE WE EXPOSE THEM TO THE GREATER OUTDOORS, CONNECT THEM TO WORK OPPORTUNITIES AND AID THEM IN DEVELOPING LIFE SKILLS THAT ARE VITAL COMPONENTS OF ADULTHOOD, NECESSARY FOR THRIVING IN THE WORLD WE LIVE IN.

    Expenses $18,876

As filed on the 2023 return.

Listed in Part VII

  • Brian Odom

    EXECUTIVE DIRECTOR

    Total calculated
    $58,378
    From this org
    $58,378
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Jataune Hall

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jreyesha Brannon

    BOARD CHAIR - SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Okechukwa Nwerem

    TREASURER

    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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
9 May 2024
IRS schema version
2023v5.0
Source object
202401349349306385

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