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Nonprofiteer
← AFRICAN AMERICAN CHAMBER OF COMMERCE

Form 990 for tax year 2024

Filed by AFRICAN AMERICAN CHAMBER OF COMMERCE.

Totals

Total revenue
$1,041,039
Total expenses
$1,395,493
Contributions and grants received
$1,031,774
Grants paid
$539,603
Program service revenue
$0
Investment income
$895
Other revenue
$8,370
Total assets, end of year
$2,810,194
Total liabilities, end of year
$2,320,512
Net assets or fund balances, end of year
$489,682
Program services expenses (Part IX)
$1,159,841
Management and general expenses
$190,080
Fundraising expenses
$45,572
Program service expenses (Part III)
$1,159,841

Program services were 83.1% 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.

  • 1b · Membership dues

    $51,550

  • 1f · All other contributions, gifts and grants

    $980,224

  • 3 · Investment income

    total $895 · excluded $895

  • 6a · Gross rents

    real property $27,250

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $27,250

  • 6d · Net rental income or loss

    total $27,250 · excluded $27,250

  • 8a · Fundraising events: gross income

    $74,435

  • 8b · Fundraising events: direct expenses

    $94,990

  • 8c · Net income from fundraising events

    total -$20,555 · excluded -$20,555

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $1,675 · related or exempt $1,675

  • 11e · Other revenue, total

    $1,675

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $539,603 · program services $539,603

  • 5 · Compensation of officers, directors and key employees

    total $155,906 · program services $85,748 · management and general $38,977 · fundraising $31,181

  • 7 · Other salaries and wages

    total $194,427 · program services $162,987 · management and general $31,440

  • 9 · Other employee benefits

    total $30,535 · program services $27,885 · management and general $2,650

  • 10 · Payroll taxes

    total $24,895 · program services $17,980 · management and general $4,911 · fundraising $2,004

  • 11c · Fees: accounting

    total $25,900 · management and general $25,900

  • 11g · Fees: other

    total $35,649 · program services $35,649

  • 12 · Advertising and promotion

    total $10,334 · program services $8,436 · management and general $1,898

  • 13 · Office expenses

    total $10,229 · program services $2,563 · management and general $7,051 · fundraising $615

  • 14 · Information technology

    total $3,124 · management and general $3,124

  • 16 · Occupancy

    total $90,425 · program services $54,254 · management and general $27,128 · fundraising $9,043

  • 17 · Travel

    total $1,738 · program services $1,713 · management and general $25

  • 19 · Conferences, conventions and meetings

    total $2,408 · program services $2,408

  • 20 · Interest

    total $5,915 · management and general $5,915

  • 22 · Depreciation, depletion and amortization

    total $68,576 · program services $45,218 · management and general $23,358

  • 24a · Other expenses: RISE PROGRAM

    total $120,541 · program services $120,541

  • 24b · Other expenses: EQUIPMENT RENTAL & MAIN

    total $27,290 · program services $16,374 · management and general $8,187 · fundraising $2,729

  • 24c · Other expenses: ALLOWANCE FOR LOAN LOSS

    total $22,491 · program services $22,491

  • 24d · Other expenses: EVENT SPONSORSHIPS

    total $13,850 · program services $13,850

  • 24e · All other expenses

    total $11,657 · program services $2,141 · management and general $9,516

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,098,499 · end of year $1,297,635

  • 3 · Pledges and grants receivable

    beginning of year $50,000 · end of year $136,000

  • 4 · Accounts receivable

    beginning of year $55,756 · end of year $41,256

  • 7 · Other notes and loans receivable

    beginning of year $47,701 · end of year $15,172

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

    $823,335

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

    $229,280

  • 10c · Land, buildings and equipment, net

    beginning of year $658,652 · end of year $594,055

  • 13 · Investments: program-related

    beginning of year $43,207 · end of year $26,941

  • 15 · Other assets

    beginning of year $764,631 · end of year $699,135

  • 17 · Accounts payable and accrued expenses

    beginning of year $50,869 · end of year $57,454

  • 19 · Deferred revenue

    beginning of year $933,999 · end of year $1,439,112

  • 24 · Unsecured notes and loans payable

    beginning of year $124,811 · end of year $124,811

  • 25 · Other liabilities

    beginning of year $764,631 · end of year $699,135

  • 27 · Net assets without donor restrictions

    beginning of year $706,616 · end of year $337,813

  • 28 · Net assets with donor restrictions

    beginning of year $137,520 · end of year $151,869

Mission and programs · 2024

Mission

WE CHAMPION THE GROWTH AND SUSTAINABILITY OF AFRICAN AMERICAN OWNED BUSINESSES BY PROVIDING ACCESS TO CAPITAL, EDUCATION AND ADVOCACY THROUGH CAPACITY BUILDING AND STRATEGIC PARTNERSHIPS.OUR VISION - STRONG AFRICAN AMERICAN OWNED BUSINESSES AND ENTREPRENEURS THAT PROMOTE THE ECONOMIC VIBRANCY OF OUR COMMUNITY BY PROVIDING LIMITLESS OPPORTUNITIES IN THE WORKPLACE.

Activities or mission (Part I)

WE CHAMPION THE GROWTH AND SUSTAINABILITY OF AFRICAN AMERICAN OWNED BUSINESSES BY PROVIDING ACCESS TO CAPITAL, EDUCATION AND ADVOCACY THROUGH CAPACITY BUILDING AND STRATEGIC PARTNERSHIPS.

  • THE CHAMBER PROVIDES OPPORTUNITIES FOR MEMBERS PROMOTION AND PUBLICITY, A VOICE IN GOVERNMENT, NETWORKING EVENTS AND OPPORTUNITIES AND CUSTOMER REFERRALS. THE FACILITY PROVIDES A CO-WORKING SPACE FOR MEMBERS.IN ADDITION, THE CHAMBER HAS A REVOLVING LOAN FUND THAT IS DESIGNED TO INCREASE ACCESS TO CAPITAL FOR EXISTING AND NEW MINORITY BUSINESSES, WHILE DEVELOPING PARTNERSHIPS WITHIN THE BUSINESS COMMUNITY. SOME LOANS ARE FINANCED THROUGH KIVA U.S., AN INTERNATIONAL NON-PROFIT THAT ENABLES FINANCIALLY EXCLUDED AND SOCIALLY IMPACTFUL ENTREPRENEURS TO ACCESS 0% INTEREST SMALL BUSINESS LOANS OF UP TO $10K.IN PARTNERSHIP WITH LISC, THE CHAMBER PROVIDES GRANTS TO SMALL BUSINESSES.

    Expenses $499,427 · Revenue $1,675

  • RISE MKE POWERED BY MORTAR - A 14-WEEK ENTREPRENEURIAL TRAINING PROGRAM DESIGNED TO ENSURE THAT EMERGING BUSINESSES DON'T START BLINDLY, PROVIDING BUSINESS DEVELOPMENT WITH A FOCUS ON MARKETING, BRANDING, BUSINESS NETWORK DEVELOPMENT, AND OTHER ESSENTIAL RESOURCES. RISE WAS ADAPTED FROM THE HIGHLY SUCCESSFUL CINCINNATI BASED MINORITY BUSINESS ACCELERATOR PROGRAM CALLED MORTAR. THE AFRICAN AMERICAN CHAMBER HAS FORMED A STRATEGIC PARTNERSHIP BETWEEN LISC MILWAUKEE AND THE MILWAUKEE URBAN LEAGUE AS A COMPONENT OF THE RAMP UP PROJECT. RISE CURRICULUM WILL FOCUS ON ENABLING UNDERSERVED ENTREPRENEURS THROUGH EDUCATION, GUIDANCE, AND MENTORSHIP. SPUR - CAPACITY BUILDING INTENSIVE WORKSHOP SERIES DESIGN BASED ON RESEARCH FROM THE FEDERAL RESERVE ABOUT THE NEEDS AND CRITICAL ISSUES OF SMALL BUSINESSES. THERE ARE THREE PRIMARY COMPONENTS 1)WORKSHOP SESSIONS; 2)SMALL GROUP ADVISORY ROUNDTABLES; 3)TARGETED NETWORKING SESSIONS. THE PROGRAM IS DESIGNED TO PROVIDE SMALL BUSINESSES WITH FOCUSED CUSTOMIZED TRAINING AND NETWORKING OPPORTUNITIES THAT ADDRESS THEIR SPECIFIC NEEDS.

    Expenses $660,414 · Grants $539,603

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • WARREN E BULIOX

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • MARJORIE RUCKER

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JULIAN BERRY

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • MIKAL WESLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TIFFANY MEANS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DR LIA KNOX

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • NICHOLAS TREDER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MATT PAZARAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM DECK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LAQUONDRA SHAW

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KEESHA JONES-SUTTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • NIKKI PURVIS

    CEO

    Total calculated
    $144,698
    From this org
    $131,000
    From related orgs
    $0
    Other
    $13,698
    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.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2024
Filed
11 November 2025
IRS schema version
2024v5.2
Source object
202533159349301113

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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