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← BIRMINGHAM BUSINESS ALLIANCE FOUNDATION

Form 990 for tax year 2022

Filed by BIRMINGHAM BUSINESS ALLIANCE FOUNDATION.

Totals

Total revenue
$4,572,216
Total expenses
$4,106,583
Contributions and grants received
$4,567,397
Grants paid
$2,130,538
Program service revenue
$0
Investment income
$4,819
Other revenue
$0
Total assets, end of year
$83,072
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$83,072
Program services expenses (Part IX)
$4,090,226
Management and general expenses
$16,357
Fundraising expenses
$0
Program service expenses (Part III)
$4,090,226

Program services were 99.6% 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

    $4,567,397

  • 3 · Investment income

    total $4,819 · related or exempt $4,819

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,130,538 · program services $2,130,538

  • 5 · Compensation of officers, directors and key employees

    total $231,300 · program services $231,300

  • 7 · Other salaries and wages

    total $203,708 · program services $203,708

  • 9 · Other employee benefits

    total $16,994 · program services $16,994

  • 10 · Payroll taxes

    total $60,763 · program services $60,763

  • 11b · Fees: legal

    total $102,238 · program services $102,238

  • 11c · Fees: accounting

    total $32,502 · program services $29,922 · management and general $2,580

  • 11g · Fees: other

    total $827,578 · program services $813,878 · management and general $13,700

  • 12 · Advertising and promotion

    total $64,385 · program services $64,385

  • 13 · Office expenses

    total $9,633 · program services $9,558 · management and general $75

  • 16 · Occupancy

    total $84,913 · program services $84,913

  • 17 · Travel

    total $3,829 · program services $3,829

  • 23 · Insurance

    total $4,995 · program services $4,995

  • 24a · Other expenses: Programming

    total $274,362 · program services $274,362

  • 24b · Other expenses: Miscellaneous

    total $41,498 · program services $41,498

  • 24c · Other expenses: Dues and Subscriptions

    total $16,669 · program services $16,669

  • 24d · Other expenses: Bank Fees

    total $678 · program services $676 · management and general $2

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,294,246 · end of year $83,072

  • 9 · Prepaid expenses and deferred charges

    beginning of year $432 · end of year $0

  • 25 · Other liabilities

    beginning of year $1,307 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $99,329 · end of year $83,072

  • 28 · Net assets with donor restrictions

    beginning of year $2,194,042 · end of year $0

Mission and programs · 2022

Mission

To promote business and commerce and to further educational endeavors in the Birmingham, Alabama region.

  • The Foundation provides scholarships to students through its Magic City HBCU scholarship program. A total of six scholarships were awarded in 2022.

    Expenses $6,000 · Grants $6,000

  • Prosper Birmingham seeks to 1) connect corporate, civic, and community leaders to understand issues and increase equitable economic growth, 2) advance inclusive, long-term economic strategies that achieve economic potential as one community, and 3) fuel priority initiatives through private, public, and philanthropic sources to generate change. The Foundation's interest in the wholly owned subsidiary carrying out this program was transferred out on December 31, 2022.

    Expenses $4,081,023 · Grants $2,121,335

  • The Birmingham Business Alliance Foundation's Competitiveness Initiatives explore and identify niche industries that can be competitive and grow jobs within the Birmingham region. The BBAF achieves this objective by funding special projects and research initiatives, such as a health care market intelligence and implementation plan with regional economic developers, funded by the Economic Development Administration (EDA).

    Expenses $3,203 · Grants $3,203

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

Listed in Part VII

  • Mark Tarr

    Director

    Total calculated
    $0
    Hours/week
    0.1 + 1 related

  • Gregory S Curran

    Director, Chairperson

    Total calculated
    $0
    Hours/week
    0.1 + 1 related

  • Joe Hampton

    Director

    Total calculated
    $0
    Hours/week
    0.1 + 1 related

  • Bingham D Edwards Jr

    Vice President & Secretary

    Total calculated
    $0
    Hours/week
    0.1 + 1 related

  • Emily Jerkins

    President

    Total calculated
    $225,603
    From this org
    $0
    From related orgs
    $208,255
    Other
    $17,348
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $208,255 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $4,206 related
    Nontaxable benefits
    $0 + $13,142 related
    Filer's total
    $0 + $225,603 related

  • Ron Kitchens

    President (former)

    Total calculated
    $446,815
    From this org
    $0
    From related orgs
    $437,218
    Other
    $9,597
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $437,218 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,100 related
    Nontaxable benefits
    $0 + $3,497 related
    Filer's total
    $0 + $446,815 related

  • James Carpenter

    Employee

    Total calculated
    $253,667
    From this org
    $224,953
    From related orgs
    $0
    Other
    $28,714
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $224,953
    Bonus
    $0
    Other
    $0
    Deferred
    $9,252
    Nontaxable benefits
    $19,462
    Filer's total
    $253,667

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

None.

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

  • Birmingham Promise

    $1,000,000

    The Foundation provided a grant to Birmingham Promise for expenses incurred in connection with the charitable activities of Birmingham Promise.

  • Rev Birmingham Inc

    $515,000

    The Foundation provided a grant to Rev Birmingham, Inc. for expenses incurred in connection with the charitable activities of Rev Birmingham, Inc.

  • UAB

    $300,000

    The Foundation provided a grant to UAB for expenses incurred in connection with the charitable activities of UAB.

  • Birmingham Business Alliance

    $281,835

    The Foundation provided a grant to reimburse the Birmingham Business Alliance for expenses paid related to the Business Advisory Services program.

  • Urban Impact Inc

    $12,500

    The Foundation provided a grant to Urban Impact, Inc. for expenses incurred in connection with the charitable activities of Urban Impact, Inc.

  • Ignite Alabama

    $12,000

    The Foundation provided a grant to Ignite Alabama for expenses incurred in connection with the charitable activities of Ignite Alabama.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • Prosper Birmingham

    create a more prosperous and equitable future · AL · income $4,563,013 · assets $2,675,932

    Directly controlled by Birmingham Business Alliance Foundation

Provenance

Return type
form_990
Tax year
2022
Filed
4 November 2023
IRS schema version
2022v5.0
Source object
202333189349315383

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