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Nonprofiteer
← THE BLEXIT FOUNDATION INC

Form 990 for tax year 2022

Filed by THE BLEXIT FOUNDATION INC.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2022 , filed 11 August 2023. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$2,906,245 changed to $274,538
Total expenses
$4,626,471 changed to $1,306,443
Contributions and grants received
$2,674,420 changed to $268,844
Program service revenue
$225,000 changed to $0
Investment income
$3,566 changed to $3,704
Other revenue
$3,259 changed to $1,990
Total assets, end of year
$1,311,227 changed to $0
Total liabilities, end of year
$70,675 changed to $0
Net assets or fund balances, end of year
$1,240,552 changed to $0
Program services expenses
$2,423,561 changed to $629,788
Management and general expenses
$955,924 changed to $439,589
Fundraising expenses
$1,246,986 changed to $237,066
Program service expenses (Part III)
$2,423,561 changed to $629,788

Listed only on the earlier return

  • Alice Hanley
  • Ashley Alexander
  • Victor Pap

Listed under a different title

  • Rebekah Mercer: BOARD MEMBER - AS OF 9/2022 then BOARD MEMBER

Totals

Total revenue
$2,906,245
Total expenses
$4,626,471
Contributions and grants received
$2,674,420
Grants paid
$0
Program service revenue
$225,000
Investment income
$3,566
Other revenue
$3,259
Total assets, end of year
$1,311,227
Total liabilities, end of year
$70,675
Net assets or fund balances, end of year
$1,240,552
Program services expenses (Part IX)
$2,423,561
Management and general expenses
$955,924
Fundraising expenses
$1,246,986
Program service expenses (Part III)
$2,423,561

Program services were 52.4% 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.

  • 1f · All other contributions, gifts and grants

    $2,674,420

  • 1g · Noncash contributions included above

    $58,490

  • 2a · Program service revenue: CAMP REGISTRATION

    total $225,000 · related or exempt $225,000

  • 3 · Investment income

    total $3,566 · excluded $3,566

  • 11a · Other revenue: MERCHANDISE SALE

    total $3,259 · excluded $3,259

  • 11e · Other revenue, total

    $3,259

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $299,905 · program services $158,953 · management and general $73,176 · fundraising $67,776

  • 7 · Other salaries and wages

    total $488,573 · program services $308,006 · management and general $140,011 · fundraising $40,556

  • 9 · Other employee benefits

    total $105,389 · program services $63,894 · management and general $28,822 · fundraising $12,673

  • 10 · Payroll taxes

    total $291,754 · program services $173,268 · management and general $78,991 · fundraising $39,495

  • 11b · Fees: legal

    total $82,357 · management and general $82,357

  • 11c · Fees: accounting

    total $28,504 · management and general $28,504

  • 11e · Fees: professional fundraising services

    total $838,098 · fundraising $838,098

  • 11g · Fees: other

    total $847,649 · program services $272,527 · management and general $436,215 · fundraising $138,907

  • 12 · Advertising and promotion

    total $182,584 · program services $145,341 · fundraising $37,243

  • 13 · Office expenses

    total $119,058 · program services $99,488 · management and general $14,896 · fundraising $4,674

  • 17 · Travel

    total $389,435 · program services $288,759 · management and general $43,177 · fundraising $57,499

  • 19 · Conferences, conventions and meetings

    total $518,490 · program services $508,425 · fundraising $10,065

  • 22 · Depreciation, depletion and amortization

    total $10,774 · management and general $10,774

  • 23 · Insurance

    total $51,007 · management and general $51,007

  • 24a · Other expenses: VIDEO PRODUCTION

    total $372,894 · program services $372,894

  • 24b · Other expenses: ALLOCATIONS

    total $0 · program services $32,006 · management and general -$32,006

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $197,409 · end of year $92,838

  • 2 · Savings and temporary cash investments

    beginning of year $2,164,418 · end of year $958,917

  • 3 · Pledges and grants receivable

    beginning of year $590,161 · end of year $250,522

  • 9 · Prepaid expenses and deferred charges

    beginning of year $21,667

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

    $32,310

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

    $23,360

  • 10c · Land, buildings and equipment, net

    beginning of year $18,207 · end of year $8,950

  • 17 · Accounts payable and accrued expenses

    beginning of year $31,084 · end of year $70,675

  • 27 · Net assets without donor restrictions

    beginning of year $2,594,656 · end of year $889,069

  • 28 · Net assets with donor restrictions

    beginning of year $366,122 · end of year $351,483

Mission and programs · 2022

Mission

THE ORGANIZATION PROMOTES EDUCATIONAL INITIATIVES, PURSUES CRIMINAL JUSTICE REFORM, EDUCATES MINORITY COMMUNITIES REGARDING AMERICA'S FOUNDING PRINCIPLES, AND HIGHLIGHTS THE IMPORTANCE OF FREE MARKETS AND ENTREPRENEURSHIP AS THE ANTIDOTE TO POVERTY. BLEXIT FOUNDATION'S VISION IS TO CHANGE THE NARRATIVE THAT SURROUNDS AMERICA'S MINORITY COMMUNITIES - WITH A PARTICULAR FOCUS ON AFRICAN-AMERICANS.

Activities or mission (Part I)

BLEXIT FOUNDATION IS A 501(C)(3) NON-PROFIT ORGANIZATION DEDICATED TO THE ADVANCEMENT OF URBAN AND MINORITY COMMUNITIES BY ENCOURAGING YOUTH TO SEEK AND TAKE ADVANTAGE OF OPPORTUNITIES IN 21ST CENTURY AMERICA.

  • BLEXIT COMMUNICATED ITS VISION AND MESSAGE THROUGH A VARIETY OF MULTI-MEDIA AND ONLINE MEDIA IN ADDITION TO HOLDING LIVE EVENTS IN VARIOUS CITIES. BLEXIT HIRED ADDITIONAL STAFF AND CONCEPTUALIZED NEW PROGRAMMING FOR IMPLEMENTATION, LAUNCHING A SUCCESSFUL AFTERSCHOOL PROGRAM IN URBAN AREAS.

    Expenses $2,423,561 · Revenue $225,000

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

Listed in Part VII

  • Candace Owens

    PRESIDENT & DIRECTOR

    Total calculated
    $263,905
    From this org
    $250,000
    From related orgs
    $0
    Other
    $13,905
    Hours/week
    30

    Schedule J breakdown matched by us

    Base
    $250,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $13,905
    Filer's total
    $263,905

  • Brandon Tatum

    VICE PRESIDENT & DIRECTOR

    Total calculated
    $36,000
    From this org
    $36,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Doug Deason

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Laurence Elder

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Alice Hanley

    BOARD MEMBER - UNTIL 6/2022

    Total calculated
    $0
    Hours/week
    5

  • Rebekah Mercer

    BOARD MEMBER - AS OF 9/2022

    Total calculated
    $0
    Hours/week
    5

  • David Panton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Bob Wheatley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Victor Pap

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • George Farmer

    TREASURER

    Total calculated
    $0
    Hours/week
    30

  • Melissa Nunez

    CHIEF OPERATIONS OFFICER

    Total calculated
    $171,973
    From this org
    $160,385
    From related orgs
    $0
    Other
    $11,588
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,385
    Bonus
    $15,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $11,588
    Filer's total
    $171,973

  • Ashley Alexander

    DEVELOPMENT DIRECTOR

    Total calculated
    $152,412
    From this org
    $140,824
    From related orgs
    $0
    Other
    $11,588
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $127,824
    Bonus
    $13,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $11,588
    Filer's total
    $152,412

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

  • 1a · First-class or charter travel
  • 1a · Personal services (maid, chauffeur, chef)
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE ORGANIZATION PROVIDES SECURITY FOR ITS PRESIDENT & CEO, WHICH WAS DEEMED NECESSARY BY THE BOARD TO ENSURE PROGRAMMING NEEDS WERE MET. THE COST OF SECURITY IN 2022 WAS $397,159; THESE COSTS WERE NOT INCLUDED AS PART OF TAXABLE INCOME TO THE PRESIDENT & CEO. THE ORGANIZATION ALSO OCCASIONALLY PROVIDES FOR CHARTER TRAVEL FOR THE PRESIDENT & CEO AS NECESSARY. IN 2022, A CHARTER FLIGHT WAS PROVIDED SO THE PRESIDENT & CEO COULD MEET WITH A DONOR AND STILL MAKE A PREVIOUSLY-SCHEDULED LIVE EDUCATIONAL PRESENTATION SHORTLY THEREAFTER.
PART I, LINE 7
THE ORGANIZATION PROVIDED BONUSES TO CERTAIN EMPLOYEES DURING 2022. THE BONUSES WERE DETERMINED AT THE DISCRETION OF THE COMPENSATION COMMITTEE.

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
25 April 2023
IRS schema version
2022v5.0
Source object
202301169349300920

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