Form 990 for tax year 2024
Filed by BLACK ECONOMIC DEVELOPMENT COALITION INC.
Totals
- Total revenue
- $811,665
- Total expenses
- $982,100
- Contributions and grants received
- $799,101
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $12,564
- Other revenue
- $0
- Total assets, end of year
- $6,874,179
- Total liabilities, end of year
- $5,173,441
- Net assets or fund balances, end of year
- $1,700,738
- Program services expenses (Part IX)
- $936,842
- Management and general expenses
- $45,258
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $936,842
Program services were 95.4% 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
$0
-
1b · Membership dues
$0
-
1c · Fundraising events
$0
-
1d · Related organizations
$0
-
1e · Government grants (contributions)
$788,149
-
1f · All other contributions, gifts and grants
$10,952
-
1g · Noncash contributions included above
$0
-
3 · Investment income
total $12,564 · related or exempt $12,564 · unrelated business $0 · excluded $0
-
4 · Income from investment of tax-exempt bond proceeds
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
5 · Royalties
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
7c · Gain or loss
securities $0 · other assets $0
-
8a · Fundraising events: contributions included on line 1c
$0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $39,028 · management and general $39,028
-
7 · Other salaries and wages
total $273,475 · program services $273,475
-
9 · Other employee benefits
total $19,597 · program services $19,597
-
10 · Payroll taxes
total $25,057 · program services $22,077 · management and general $2,980
-
11b · Fees: legal
total $3,250 · management and general $3,250
-
11c · Fees: accounting
total $27,907 · program services $27,907
-
13 · Office expenses
total $40,193 · program services $40,193
-
16 · Occupancy
total $24,000 · program services $24,000
-
22 · Depreciation, depletion and amortization
total $2,534 · program services $2,534
-
23 · Insurance
total $11,059 · program services $11,059
-
24a · Other expenses: PROGRAM SERVICES EXPENSES
total $395,000 · program services $395,000 · management and general $0 · fundraising $0
-
24b · Other expenses: BAD DEBT EXPENSE
total $121,000 · program services $121,000 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $34,251 · end of year $13,767
-
3 · Pledges and grants receivable
beginning of year $524,024 · end of year $528,153
-
7 · Other notes and loans receivable
beginning of year $6,759,377 · end of year $6,329,093
-
10a · Land, buildings and equipment: cost or other basis
$16,236
-
10b · Land, buildings and equipment: accumulated depreciation
$13,070
-
10c · Land, buildings and equipment, net
beginning of year $5,700 · end of year $3,166
-
17 · Accounts payable and accrued expenses
beginning of year $91,263 · end of year $128,881
-
19 · Deferred revenue
beginning of year $181,512 · end of year $156,512
-
25 · Other liabilities
beginning of year $5,179,411 · end of year $4,888,048
-
27 · Net assets without donor restrictions
beginning of year $1,868,187 · end of year $1,697,759
-
28 · Net assets with donor restrictions
beginning of year $2,979 · end of year $2,979
Mission and programs · 2024
Mission
PROVIDE TECHNICAL ASSISTANCE AND LOANS TO SMALL BUSINESSES
Activities or mission (Part I)
ADMINISTER'S LOAN PROGRAMS WHO'S PURPOSE IS TO PROVIDE SMALL BUSINESSES AND MICROENTERPRISES IN MIAMI DADE COUNTY THE FINANCING AND TECHNICAL ASSISTANCE NEEDED TO ASSIST WITH JOB CREATION, EQUIPMENT PURCHASES AND WORKING CAPITAL
-
PROVIDE TECHNICAL ASSISTANCE AND LOANS TO SMALL BUSINESSES
Expenses $936,842
As filed on the 2024 return.
Listed in Part VII
-
Leroy JonesLEROY JONES
EXECUTIVE DIRECTORS
- Total calculated
- $39,028
- From this org
- $39,028
- From related orgs
- $0
- Other
- $0
- Hours/week
- 22
-
Verbert C AndersonVERBERT C ANDERSON
PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Nick DeciusNICK DECIUS
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Betty GeorgeBETTY GEORGE
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.
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.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
TOOLS FOR MAGIC
C · NEW MARKET TAX CREDITS · FL · 100% owned · controlled entity
Directly controlled by BLACK ECONOMIC DEVELOPMENT COALITION INC
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 12 November 2025
- IRS schema version
- 2024v5.0
- Source object
- 202503189349315575
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