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Nonprofiteer
← HBCU WEEK FOUNDATION INC

Form 990 for tax year 2023

Filed by HBCU WEEK FOUNDATION INC.

Totals

Total revenue
$2,197,225
Total expenses
$1,921,102
Contributions and grants received
$1,883,819
Grants paid
$381,061
Program service revenue
$313,406
Investment income
$0
Other revenue
$0
Total assets, end of year
$595,327
Total liabilities, end of year
$18,690
Net assets or fund balances, end of year
$576,637
Program services expenses (Part IX)
$1,499,343
Management and general expenses
$421,759
Fundraising expenses
$0
Program service expenses (Part III)
$1,499,343

Program services were 78.0% 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.

  • 1e · Government grants (contributions)

    $194,995

  • 1f · All other contributions, gifts and grants

    $1,688,824

  • 2a · Program service revenue: ADMIN FEE INCOME

    total $175,650 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: SALES

    total $137,756 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $381,061 · program services $381,061

  • 11c · Fees: accounting

    total $17,567 · program services $0 · management and general $17,567 · fundraising $0

  • 12 · Advertising and promotion

    total $152,326 · program services $0 · management and general $152,326 · fundraising $0

  • 13 · Office expenses

    total $4,850 · program services $0 · management and general $4,850 · fundraising $0

  • 17 · Travel

    total $86,206 · program services $0 · management and general $86,206 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $43,711 · program services $0 · management and general $43,711 · fundraising $0

  • 23 · Insurance

    total $10,740 · program services $0 · management and general $10,740 · fundraising $0

  • 24a · Other expenses: OFFICE SUPPLIES & SOFTWARE

    total $35,273 · program services $0 · management and general $35,273 · fundraising $0

  • 24b · Other expenses: PROGRAM SERVICE & EVENTS

    total $1,118,282 · program services $1,118,282 · management and general $0 · fundraising $0

  • 24c · Other expenses: SCHOLARSHIP ADMINISTRATION

    total $48,200 · program services $0 · management and general $48,200 · fundraising $0

  • 24d · Other expenses: PROJECT MANAGEMENT

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $22,886 · program services $0 · management and general $22,886 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $265,135 · end of year $432,853

  • 4 · Accounts receivable

    beginning of year $64,803 · end of year $153,474

  • 5 · Loans and receivables from officers and key people

    beginning of year $9,000 · end of year $9,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $38,473 · end of year $18,690

  • 31 · Retained earnings, endowment or other funds

    beginning of year $300,465 · end of year $576,637

Mission and programs · 2023

Mission

The mission of HBCU Week is to encourage high school aged youth to enroll into HBCU's, provide scholarship dollars for matriculation and sustain a pipline for employtment from undergradute school to corprate America.

Activities or mission (Part I)

The mission of HBCU Week is to encourage high school aged youth to enroll into HBCU's, provide scholarship dollars for matriculation and sustain a pipline for employtment from undergradute school to corp

  • In 2023 HBCU Week awarded $381,061 in scholarships

    Expenses $381,061 · Revenue $313,406

  • HBCU Week recieved $1.9M in contributions to be used for the general fund. HBCU Week spent $1.4 in program services for events, conferences and gala.

    Expenses $1,118,282 · Revenue $1,883,819

As filed on the 2023 return.

Listed in Part VII

  • Brandon Purnsley

    CFO

    Total calculated
    $0
    Hours/week
    20

  • Ashley Christopher

    President

    Total calculated
    $0
    Hours/week
    5

  • Lorin Dale-Pierce

    Secretary

    Total calculated
    $0
    Hours/week
    5

  • Daniel R Meachum

    Vice Chairman

    Total calculated
    $0
    Hours/week
    2

  • Heyward Damon

    Chairman

    Total calculated
    $0
    Hours/week
    2

  • Kristi Henderson

    Board Member

    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.

Provenance

Return type
form_990
Tax year
2023
Filed
28 March 2024
IRS schema version
2023v5.0
Source object
202421359349308972

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