Form 990 for tax year 2023
Filed by US BLACK CHAMBER OF COMMERCE INC.
Totals
- Total revenue
- $3,009,012
- Total expenses
- $3,801,180
- Contributions and grants received
- $2,288,411
- Grants paid
- $0
- Program service revenue
- $687,601
- Investment income
- $0
- Other revenue
- $33,000
- Total assets, end of year
- $3,415,418
- Total liabilities, end of year
- $404,194
- Net assets or fund balances, end of year
- $3,011,224
- Program services expenses (Part IX)
- $1,941,929
- Management and general expenses
- $1,859,251
- Fundraising expenses
- $0
- Program service expenses (Part III)
- not reported
Program services were 51.1% 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
$133,843
-
1f · All other contributions, gifts and grants
$2,154,568
-
2a · Program service revenue: Special Events
total $687,601 · unrelated business $0 · excluded $0
-
6a · Gross rents
real property $33,000
-
6c · Rental income or loss
real property $33,000
-
6d · Net rental income or loss
total $33,000 · related or exempt $33,000
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $1,323,365 · program services $310,417 · management and general $1,012,948 · fundraising $0
-
9 · Other employee benefits
total $81,814 · program services $0 · management and general $81,814 · fundraising $0
-
10 · Payroll taxes
total $82,796 · program services $0 · management and general $82,796 · fundraising $0
-
11b · Fees: legal
total $6,500 · program services $1,500 · management and general $5,000 · fundraising $0
-
11c · Fees: accounting
total $12,000 · program services $0 · management and general $12,000 · fundraising $0
-
12 · Advertising and promotion
total $24,621 · program services $4,258 · management and general $20,363 · fundraising $0
-
13 · Office expenses
total $834 · program services $0 · management and general $834 · fundraising $0
-
16 · Occupancy
total $100,129 · program services $0 · management and general $100,129 · fundraising $0
-
17 · Travel
total $117,665 · program services $108,369 · management and general $9,296 · fundraising $0
-
23 · Insurance
total $5,284 · program services $0 · management and general $5,284 · fundraising $0
-
24a · Other expenses: Contract Labor
total $212,400 · program services $0 · management and general $212,400 · fundraising $0
-
24b · Other expenses: Software
total $80,333 · program services $55,965 · management and general $24,368 · fundraising $0
-
24c · Other expenses: Event Related
total $1,263,700 · program services $1,233,353 · management and general $30,347 · fundraising $0
-
24d · Other expenses: Consultants
total $439,076 · program services $221,160 · management and general $217,916 · fundraising $0
-
24e · All other expenses
total $50,663 · program services $6,907 · management and general $43,756 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,190,387 · end of year $2,087,648
-
4 · Accounts receivable
beginning of year $643,909 · end of year $976,863
-
10a · Land, buildings and equipment: cost or other basis
$7,469
-
10c · Land, buildings and equipment, net
beginning of year $7,469 · end of year $7,469
-
15 · Other assets
beginning of year $329,195 · end of year $343,438
-
17 · Accounts payable and accrued expenses
beginning of year $91,059 · end of year $121,979
-
25 · Other liabilities
beginning of year $274,418 · end of year $282,215
-
27 · Net assets without donor restrictions
beginning of year $3,805,483 · end of year $3,011,224
Mission and programs · 2023
Mission
The USBC provides committed and visionary leadership and advocacy in the realization of economic empowerment. Through the creation and development of resources and initiatives, the Chamber seeks to support African American Chambers in their work developing Black entreprenuers.
-
The primary program of the organization is the development of resources and initiatives to support black chambers of commerce and business organizations in their work of developing and growing black enterprises. During the year, we supported more than 100 black chambers of commerces throughout the United States of America.
As filed on the 2023 return.
Listed in Part VII
-
Susan Vanderbilt
Director
- Total calculated
- $0
- Hours/week
- 2
-
Larry Holman
Director
- Total calculated
- $0
- Hours/week
- 2
-
Veta Jeffrey
Director
- Total calculated
- $0
- Hours/week
- 2
-
Kelisha Garrett
Director
- Total calculated
- $0
- Hours/week
- 2
-
Antwanye Ford
Vice Chair
- Total calculated
- $0
- Hours/week
- 2
-
Charles O'Neal
Chairman of the Board
- Total calculated
- $0
- Hours/week
- 2
-
Bridgett Gagne
Treasurer
- Total calculated
- $0
- Hours/week
- 2
-
Aimee Griffin
Secretary
- Total calculated
- $0
- Hours/week
- 2
-
Ronald Busby
President and CEO
- Total calculated
- $0
- Hours/week
- 60
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
- 14 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202403199349318595
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