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Nonprofiteer
← CAPITAL B NEWS INC

Form 990 for tax year 2024

Filed by CAPITAL B NEWS INC.

Totals

Total revenue
$5,853,158
Total expenses
$5,888,394
Contributions and grants received
$5,820,852
Grants paid
$0
Program service revenue
$31,908
Investment income
$0
Other revenue
$398
Total assets, end of year
$8,194,556
Total liabilities, end of year
$259,243
Net assets or fund balances, end of year
$7,935,313
Program services expenses (Part IX)
$3,489,973
Management and general expenses
$1,837,774
Fundraising expenses
$560,647
Program service expenses (Part III)
$3,489,973

Program services were 59.3% 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

    $5,820,852

  • 2a · Program service revenue: PROGRAM REVENUE

    total $31,908 · related or exempt $31,908

  • 11a · Other revenue: OTHER REVENUE

    total $398 · excluded $398

  • 11e · Other revenue, total

    $398

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $795,732 · program services $188,133 · management and general $415,817 · fundraising $191,782

  • 7 · Other salaries and wages

    total $2,656,487 · program services $2,336,933 · management and general $95,772 · fundraising $223,782

  • 9 · Other employee benefits

    total $233,798 · program services $201,002 · management and general $2,662 · fundraising $30,134

  • 10 · Payroll taxes

    total $260,077 · program services $191,264 · management and general $37,457 · fundraising $31,356

  • 11b · Fees: legal

    total $49,854 · management and general $49,854

  • 11g · Fees: other

    total $1,140,681 · program services $263,316 · management and general $820,140 · fundraising $57,225

  • 12 · Advertising and promotion

    total $65,923 · program services $11,056 · management and general $54,667 · fundraising $200

  • 13 · Office expenses

    total $181,301 · program services $131,884 · management and general $41,007 · fundraising $8,410

  • 14 · Information technology

    total $140,663 · program services $54,769 · management and general $84,133 · fundraising $1,761

  • 17 · Travel

    total $258,795 · program services $60,157 · management and general $185,820 · fundraising $12,818

  • 23 · Insurance

    total $17,203 · program services $12,710 · management and general $2,409 · fundraising $2,084

  • 24a · Other expenses: DUES & SUBSCRIPTIONS

    total $80,780 · program services $38,664 · management and general $41,096 · fundraising $1,020

  • 24b · Other expenses: FILING FEES

    total $7,100 · program services $85 · management and general $6,940 · fundraising $75

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,230,036 · end of year $5,374,247

  • 3 · Pledges and grants receivable

    beginning of year $1,707,231 · end of year $2,764,212

  • 4 · Accounts receivable

    beginning of year $46,068 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $61,014 · end of year $52,751

  • 15 · Other assets

    beginning of year $3,150 · end of year $3,346

  • 17 · Accounts payable and accrued expenses

    beginning of year $68,279 · end of year $168,152

  • 19 · Deferred revenue

    beginning of year $8,671 · end of year $91,091

  • 27 · Net assets without donor restrictions

    beginning of year $3,357,775 · end of year $3,669,911

  • 28 · Net assets with donor restrictions

    beginning of year $4,612,774 · end of year $4,265,402

Mission and programs · 2024

Mission

TO CONNECT AND ENGAGE WITH BLACK COMMUNITIES TO DELIVER TRUSTWORTHY JOURNALISM THAT INFORMS, EMPOWERS, AND CREATES MEANINGFUL CHANGE FOR BLACK PEOPLE IN AMERICA.

Activities or mission (Part I)

CAPITAL B IS A LOCAL AND NATIONAL NONPROFIT NEWS ORGANIZATION.

  • CAPITAL B STRENGTHENED ITS LOCAL NEWSROOM TEAMS THROUGH THE ADDITION OF AN ATLANTA EDITOR AND ENHANCED ITS COMMUNITY ENGAGEMENT INITIATIVES. THESE EFFORTS SUPPORTED THE PRODUCTION OF ORIGINAL, IMPACTFUL NEWS COVERAGE FOCUSED ON SERVING AND INFORMING BLACK COMMUNITIES WITH TRUSTED, RELEVANT JOURNALISM.

    Expenses $1,495,093

  • CAPITAL B STRENGTHENED ITS EDITORIAL OPERATIONS EXECUTIVE EDITOR AND A DEPUTY NATIONAL EDITOR, AND PRODUCED IMPACTFUL JOURNALISM WITH A NATIONWIDE LIVE EVENTS TOUR DESIGNED TO SURFACE AND FACILITATE DISCUSSION AROUND LOCAL AND NATIONAL POLITICAL ISSUES.

    Expenses $971,631

  • CAPITAL B EXPANDED ITS AUDIENCE REACH BY ORGANIZING TEAM SUMMITS TO ALIGN STRATEGY AND COLLABORATION, INCREASING ITS SOCIAL MEDIA ENGAGEMENT, AND HIRING A DEDICATED TEAM LEADER TO DIRECT AUDIENCE GROWTH AND INNOVATION.

    Expenses $1,023,249 · Revenue $31,908

As filed on the 2024 return.

Listed in Part VII

  • Lauren Williams

    PRESIDENT & CEO

    Total calculated
    $283,918
    From this org
    $283,860
    From related orgs
    $0
    Other
    $58
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $283,860
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $58
    Filer's total
    $283,918

  • Akoto Ofori-Atta

    TREASURER/SECRETARY/CAO

    Total calculated
    $262,698
    From this org
    $227,739
    From related orgs
    $0
    Other
    $34,959
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $227,739
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $34,959
    Filer's total
    $262,698

  • Maurisse Johnson

    FINANCE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Sarabeth Berman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marsha Cooke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Matt Thompson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gillian White

    CHIEF REVENUE OFFICER OF R

    Total calculated
    $249,116
    From this org
    $220,828
    From related orgs
    $0
    Other
    $28,288
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $220,828
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $28,288
    Filer's total
    $249,116

  • Dalila Paul

    NATIONAL EDITOR

    Total calculated
    $158,005
    From this org
    $149,436
    From related orgs
    $0
    Other
    $8,569
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,436
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $8,569
    Filer's total
    $158,005

  • Christina Carrega

    NATIONAL CRIMINAL JUSTICE

    Total calculated
    $123,783
    From this org
    $112,943
    From related orgs
    $0
    Other
    $10,840
    Hours/week
    40

  • Adeshina Emmanuel

    MANAGING EDITOR OF LOCAL

    Total calculated
    $129,428
    From this org
    $120,019
    From related orgs
    $0
    Other
    $9,409
    Hours/week
    40

  • Kelly Virella

    EXECUTIVE EDITOR

    Total calculated
    $134,167
    From this org
    $132,924
    From related orgs
    $0
    Other
    $1,243
    Hours/week
    40

  • Keith Reed

    ATLANTA EDITOR

    Total calculated
    $120,323
    From this org
    $111,286
    From related orgs
    $0
    Other
    $9,037
    Hours/week
    40

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 · Form 990 of other organizations
  • 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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202523179349309267

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