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Nonprofiteer
← CENTER FOR BLACK EXCELLENCE AND CULTURE INC

Form 990 for tax year 2022

Filed by CENTER FOR BLACK EXCELLENCE AND CULTURE INC.

Totals

Total revenue
$10,211,514
Total expenses
$620,817
Contributions and grants received
$10,193,704
Grants paid
$0
Program service revenue
$0
Investment income
$17,810
Other revenue
$0
Total assets, end of year
$12,957,792
Total liabilities, end of year
$242,103
Net assets or fund balances, end of year
$12,715,689
Program services expenses (Part IX)
$173,204
Management and general expenses
$192,476
Fundraising expenses
$255,137
Program service expenses (Part III)
$173,204

Program services were 27.9% 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.

  • 1e · Government grants (contributions)

    $200,000

  • 1f · All other contributions, gifts and grants

    $9,993,704

  • 1g · Noncash contributions included above

    $34,894

  • 3 · Investment income

    total $17,810 · excluded $17,810

Functional expenses

Part IX, the statement of functional expenses.

  • 11e · Fees: professional fundraising services

    total $111,005 · fundraising $111,005

  • 11g · Fees: other

    total $449,403 · program services $173,100 · management and general $133,138 · fundraising $143,165

  • 12 · Advertising and promotion

    total $31,092 · management and general $30,979 · fundraising $113

  • 13 · Office expenses

    total $6,313 · management and general $6,313

  • 14 · Information technology

    total $210 · management and general $210

  • 17 · Travel

    total $547 · fundraising $547

  • 22 · Depreciation, depletion and amortization

    total $18,754 · management and general $18,754

  • 23 · Insurance

    total $356 · management and general $356

  • 24a · Other expenses: FOOD & ENTERTAINMENT

    total $2,957 · program services $104 · management and general $2,721 · fundraising $132

  • 24e · All other expenses

    total $180 · management and general $5 · fundraising $175

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,270,167 · end of year $288,564

  • 2 · Savings and temporary cash investments

    beginning of year $1,568,408 · end of year $6,861,783

  • 3 · Pledges and grants receivable

    beginning of year $340,000 · end of year $5,445,643

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $59

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

    $276,907

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

    $24,781

  • 10c · Land, buildings and equipment, net

    beginning of year -$1,661 · end of year $252,126

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $34,602

  • 14 · Intangible assets

    beginning of year $75,015 · end of year $75,015

  • 17 · Accounts payable and accrued expenses

    beginning of year $119,862 · end of year $242,103

  • 25 · Other liabilities

    beginning of year $6,575 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $2,525,492 · end of year $3,608,288

  • 28 · Net assets with donor restrictions

    beginning of year $600,000 · end of year $9,107,401

Mission and programs · 2022

Mission

TO PROMOTE AND DEVELOP A BLACK CULTURAL CENTER IN MADISON, WISCONSIN, AND TO RAISE FUNDS AND PROVIDE DEVELOPMENT OVERSIGHT, FIDUCIARY MANAGEMENT, AND GOVERNANCE OVERSIGHT IN ORDER TO CREATE A SOCIAL, CULTURAL, AND ECONOMIC HUB FOR THE BLACK COMMUNITY WITHIN THE REGION.

Activities or mission (Part I)

TO PROMOTE AND DEVELOP A BLACK CULTURAL CENTER IN MADISON, WISCONSIN.

  • PROVIDES OUTREACH SERVICES TO THE COMMUNITY AND IN THE FUTURE WILL BE PROVIDING A PLACE FOR THE BLACK COMMUNITY TO FOSTER AND ACCELERATE ENTREPRENEURIAL SPIRIT, CELEBRATE EXCELLENCE, AND A PLACE TO FEEL REPRESENTED AND BE SURROUNDED BY THEIR CULTURE.

    Expenses $173,204

As filed on the 2022 return.

Listed in Part VII

  • Dr Alexander Gee

    PRESIDENT

    Total calculated
    $0
    Hours/week
    30

  • Kirbie Mack

    SECRETARY (THRU SEPT 22)

    Total calculated
    $0
    Hours/week
    1

  • Frances Huntley-Cooper

    SECRETARY

    Total calculated
    $0
    Hours/week
    3

  • Brian Russell

    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.

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202333199349303443

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