Form 990 for tax year 2023
Filed by RHODE ISLAND BLACK BUSINESS ASSOCIATION.
Totals
- Total revenue
- $1,577,829
- Total expenses
- $1,159,570
- Contributions and grants received
- $1,142,128
- Grants paid
- $0
- Program service revenue
- $394,680
- Investment income
- $30,734
- Other revenue
- $10,287
- Total assets, end of year
- $2,071,761
- Total liabilities, end of year
- $1,306,068
- Net assets or fund balances, end of year
- $765,693
- Program services expenses (Part IX)
- $534,917
- Management and general expenses
- $546,668
- Fundraising expenses
- $77,985
- Program service expenses (Part III)
- $534,917
Program services were 46.1% 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
$21,148
-
1c · Fundraising events
$199,055
-
1e · Government grants (contributions)
$219,155
-
1f · All other contributions, gifts and grants
$702,770
-
2a · Program service revenue: 4a Business Devt Assistance
total $170,089 · unrelated business $0 · excluded $0
-
2b · Program service revenue: 4b Supporting young adults
total $224,591 · unrelated business $0 · excluded $0
-
3 · Investment income
total $30,734 · unrelated business $30,734 · excluded $0
-
8a · Fundraising events: contributions included on line 1c
$199,055
-
11a · Other revenue: Indirect Public Support
total $250 · related or exempt $250 · unrelated business $0 · excluded $0
-
11d · All other revenue
total $10,037 · related or exempt $10,037 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$10,287
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $38,029 · program services $38,029
-
5 · Compensation of officers, directors and key employees
total $168,508 · program services $50,552 · management and general $101,105 · fundraising $16,851
-
7 · Other salaries and wages
total $495,601 · program services $218,064 · management and general $277,537 · fundraising $0
-
10 · Payroll taxes
total $62,114 · program services $27,330 · management and general $34,784 · fundraising $0
-
11a · Fees: management
total $3,748 · program services $0 · management and general $3,748 · fundraising $0
-
11b · Fees: legal
total $1,824 · program services $0 · management and general $1,824 · fundraising $0
-
11c · Fees: accounting
total $35,106 · program services $0 · management and general $35,106 · fundraising $0
-
11e · Fees: professional fundraising services
total $48,283 · fundraising $48,283
-
11f · Fees: investment management
total $1,859 · program services $1,859 · management and general $0 · fundraising $0
-
12 · Advertising and promotion
total $32,338 · program services $17,437 · management and general $2,050 · fundraising $12,851
-
13 · Office expenses
total $10,785 · program services $625 · management and general $10,160 · fundraising $0
-
14 · Information technology
total $13,268 · program services $6,268 · management and general $7,000 · fundraising $0
-
16 · Occupancy
total $23,114 · program services $0 · management and general $23,114 · fundraising $0
-
19 · Conferences, conventions and meetings
total $3,157 · program services $0 · management and general $3,157 · fundraising $0
-
23 · Insurance
total $4,010 · program services $0 · management and general $4,010 · fundraising $0
-
24a · Other expenses: SUPPLIES
total $1,278 · program services $1,278 · management and general $0 · fundraising $0
-
24b · Other expenses: OUTSIDE CONTRACT SERVICES
total $2,485 · program services $0 · management and general $2,485 · fundraising $0
-
24c · Other expenses: BUSINESS DEVT OUTREACH
total $3,615 · program services $0 · management and general $3,615 · fundraising $0
-
24d · Other expenses: FORGIVABLE MICRO LOAN
total $24,494 · program services $24,494 · management and general $0 · fundraising $0
-
24e · All other expenses
total $185,954 · program services $148,981 · management and general $36,973 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $169,305 · end of year $269,622
-
2 · Savings and temporary cash investments
beginning of year $570,094 · end of year $659,952
-
4 · Accounts receivable
beginning of year $341,322 · end of year $684,921
-
7 · Other notes and loans receivable
beginning of year $352,991 · end of year $407,589
-
15 · Other assets
end of year $49,677
-
17 · Accounts payable and accrued expenses
beginning of year $56,187 · end of year $16,612
-
18 · Grants payable
beginning of year $75,000 · end of year $75,000
-
19 · Deferred revenue
end of year $5,000
-
24 · Unsecured notes and loans payable
beginning of year $955,091 · end of year $1,209,456
-
27 · Net assets without donor restrictions
beginning of year $347,434 · end of year $765,693
Mission and programs · 2023
Mission
The RI Black Business Association is dedicated to advancing the opportunity and vitality of black and minority businesses and professionals through access to capital, business development resources, entrepeneur training business advocacy and workforce development.
Activities or mission (Part I)
TO HELP BLACK AND MINORITY BUSINESS GROW
-
Program and services designed to help black businesses grow with one-on-one business development assistance.
Expenses $310,326 · Revenue $310,326
-
Career development: Initiative focused on supporting young adults on their academic & career journey through access to mentors, financial literacy, scholarship and skills training.
Expenses $224,591 · Revenue $224,591
As filed on the 2023 return.
Listed in Part VII
-
na
na
- 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.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 6 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202443349349300504
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