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Nonprofiteer
← COMMUNITY ECONOMIC ADVANCEMENT INITIATIVE INC

Form 990 for tax year 2023

Filed by COMMUNITY ECONOMIC ADVANCEMENT INITIATIVE INC.

Totals

Total revenue
$358,840
Total expenses
$301,060
Contributions and grants received
$192,634
Grants paid
$0
Program service revenue
$166,206
Investment income
$0
Other revenue
$0
Total assets, end of year
$701,622
Total liabilities, end of year
$155,286
Net assets or fund balances, end of year
$546,336
Program services expenses (Part IX)
$113,171
Management and general expenses
$187,889
Fundraising expenses
$0
Program service expenses (Part III)
$12,030

Program services were 37.6% 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

    $192,634

  • 2a · Program service revenue: Brothers In Motion

    total $46,285 · related or exempt $46,285

  • 2f · All other program service revenue

    total $119,921 · related or exempt $119,921

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $100,000 · program services $10,000 · management and general $90,000

  • 7 · Other salaries and wages

    total $55,643 · management and general $55,643

  • 10 · Payroll taxes

    total $2,826 · program services $283 · management and general $2,543

  • 11a · Fees: management

    total $74,524 · program services $74,524

  • 11c · Fees: accounting

    total $4,070 · management and general $4,070

  • 11g · Fees: other

    total $15,078 · program services $12,030 · management and general $3,048

  • 12 · Advertising and promotion

    total $5,919 · program services $5,919

  • 13 · Office expenses

    total $3,861 · management and general $3,861

  • 14 · Information technology

    total $2,488 · management and general $2,488

  • 16 · Occupancy

    total $9,200 · program services $875 · management and general $8,325

  • 17 · Travel

    total $5,045 · management and general $5,045

  • 20 · Interest

    total $6,677 · program services $6,677

  • 22 · Depreciation, depletion and amortization

    total $2,876 · management and general $2,876

  • 23 · Insurance

    total $10,576 · program services $2,115 · management and general $8,461

  • 24e · All other expenses

    total $2,277 · program services $748 · management and general $1,529

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $297,060 · end of year $10,250

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,628 · end of year $2,697

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

    $209,276

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

    $22,077

  • 10c · Land, buildings and equipment, net

    beginning of year $114,194 · end of year $187,199

  • 15 · Other assets

    beginning of year $245,330 · end of year $501,476

  • 23 · Secured mortgages and notes payable

    beginning of year $170,654 · end of year $155,286

  • 27 · Net assets without donor restrictions

    beginning of year $487,736

  • 31 · Retained earnings, endowment or other funds

    beginning of year $488,558 · end of year $546,336

Mission and programs · 2023

Mission

Create and support social, economic and cultural development in the arts, education, recreation, employment and spirituality which enhance ownership, connection, caring & kinship in the African-American commun

Activities or mission (Part I)

Create Support social economic cultural development in the arts and education by redevelopment of community properties and job creatio

  • Closed out activities with Brothers in Motion Program. Continued to utilize donations to build the Bond Hill Market

    Expenses $12,030

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Damon Lynch III

    Chairman

    Total calculated
    $0

  • Kz Smith

    Secretary

    Total calculated
    $0

  • Larry Burnett

    Treasurer

    Total calculated
    $0

  • Jerry Culbreath

    Director

    Total calculated
    $0

  • Angie Fairbanks

    Director

    Total calculated
    $0

  • Kristen Kitchen

    Director

    Total calculated
    $0

  • Sil Watkins

    Director

    Total calculated
    $0

  • Eugene Ellington Mpa

    PresidentCEO

    Total calculated
    $100,000
    From this org
    $100,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Amber Kelly

    Director

    Total calculated
    $0

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
2023
Filed
11 April 2024
IRS schema version
2023v5.0
Source object
202431029349301333

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