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Nonprofiteer
← PITTSBURGH MINORITY BUSINESS ACCELERATOR

Form 990 for tax year 2023

Filed by PITTSBURGH MINORITY BUSINESS ACCELERATOR.

Totals

Total revenue
$1,149,289
Total expenses
$847,119
Contributions and grants received
$1,056,500
Grants paid
$3,070
Program service revenue
$92,062
Investment income
$727
Other revenue
$0
Total assets, end of year
$847,341
Total liabilities, end of year
$55,200
Net assets or fund balances, end of year
$792,141
Program services expenses (Part IX)
$691,404
Management and general expenses
$155,715
Fundraising expenses
$0
Program service expenses (Part III)
$691,404

Program services were 81.6% 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

    $1,056,500

  • 2a · Program service revenue: ANCHOR REVENUE

    total $92,062 · related or exempt $92,062

  • 3 · Investment income

    total $727 · excluded $727

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,070 · program services $3,070

  • 5 · Compensation of officers, directors and key employees

    total $424,229 · program services $339,383 · management and general $84,846

  • 7 · Other salaries and wages

    total $120,018 · program services $96,015 · management and general $24,003

  • 9 · Other employee benefits

    total $9,249 · program services $7,399 · management and general $1,850

  • 10 · Payroll taxes

    total $38,915 · program services $31,132 · management and general $7,783

  • 11c · Fees: accounting

    total $26,227 · program services $26,227

  • 11g · Fees: other

    total $157,611 · program services $128,475 · management and general $29,136

  • 12 · Advertising and promotion

    total $1,730 · program services $1,384 · management and general $346

  • 13 · Office expenses

    total $27,316 · program services $27,316

  • 14 · Information technology

    total $5,151 · program services $4,121 · management and general $1,030

  • 16 · Occupancy

    total $18,480 · program services $14,784 · management and general $3,696

  • 17 · Travel

    total $15,023 · program services $12,018 · management and general $3,005

  • 20 · Interest

    total $100 · program services $80 · management and general $20

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $492,102 · end of year $614,531

  • 2 · Savings and temporary cash investments

    end of year $175,356

  • 3 · Pledges and grants receivable

    end of year $40,000

  • 4 · Accounts receivable

    beginning of year $0 · end of year $12,648

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $4,806

  • 17 · Accounts payable and accrued expenses

    beginning of year $999 · end of year $37,700

  • 19 · Deferred revenue

    beginning of year $0 · end of year $17,500

  • 25 · Other liabilities

    beginning of year $1,132 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $489,971 · end of year $663,408

  • 28 · Net assets with donor restrictions

    end of year $128,733

Mission and programs · 2023

Mission

BEAM COLLABORATIVE WORKS WITH ECONOMICALLY CHALLENGED BUSINESSES AND WELL-ESTABLISHED ANCHOR INSTITUTIONS IN SOUTHWESTERN PENNSYLVANIA TO BUILD A MORE EQUITABLE AND RESILIENT BUSINESS ENVIRONMENT. SEE CONTINUATION ON SCHEDULE O.BEAM STARTS WITH DEEP ANALYSIS OF THE PROCUREMENT DATA FROM A DOZEN OF THE PITTSBURGH REGION'S LARGE ANCHOR INSTITUTIONS WHO ARE DRIVING THE LOCAL ECONOMY, AND PAIRS IT WITH DEVELOPMENT COACHING AND CAPACITY-BUILDING FOR LOCAL MINORITY-OWNED BUSINESSES. USING THIS UNIQUE AND DATA-INFORMED MODEL, BEAM TAPS INTO THE POTENTIAL OF THE MINORITY BUSINESS COMMUNITY, EFFECTIVELY ADDRESSING SUPPLIER CHALLENGES AND IMPROVING SUPPLIER DIVERSITY, LOCAL HIRING, TRAINING AND GROWTH.

Activities or mission (Part I)

BEAM COLLABORATIVE WORKS WITH ECONOMICALLY CHALLENGED BUSINESSES AND WELL-ESTABLISHED ANCHOR INSTITUTIONS IN SOUTHWESTERN PENNSYLVANIA TO BUILD A MORE EQUITABLE AND RESILIENT BUSINESS ENVIRONMENT. BEAM STARTS WITH DEEP ANALYSIS OF THE PROCUREMENT DATA FROM A DOZEN OF THE PITTSBURGH REGION'S LARGE ANCHOR INSTITUTIONS WHO ARE DRIVING THE LOCAL ECONOMY, AND PAIRS IT WITH DEVELOPMENT COACHING AND CAPACITY-BUILDING FOR LOCAL MINORITY-OWNED BUSINESSES. USING THIS UNIQUE AND DATA-INFORMED MODEL, BEAM TAPS INTO THE POTENTIAL OF THE MINORITY BUSINESS COMMUNITY, EFFECTIVELY ADDRESSING SUPPLIER CHALLENGES AND IMPROVING SUPPLIER DIVERSITY, LOCAL HIRING, TRAINING AND GROWTH.

  • BEAM HAS ENGAGED WITH 25 MINORITY OWNED BUSINESSES THROUGHOUT THE FISCAL YEAR GENERATING OVER $2.5 MILLION IN DIVERSE SPEND IN THE REGION.BEAM COLLABORATIVE WAS ABLE TO SECURE CONTRACTS WITH FOUR AREA COMPANIES THROUGH OUR IDEATION SESSION WORK. MORE THAN 50 IDEAS WERE GENERATED WITH 24 PROBLEMS BEING REFINED AND 12 ACTIVELY IN PROCESS WITH MINORITY OWNED BUSINESSES. SEE CONTINUATION ON SCHEDULE O.

    Expenses $691,404 · Grants $3,070 · Revenue $92,062

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

Listed in Part VII

  • Will Allen

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Patricia Warrick

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Angela Blanton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Blayre Britton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Robert Cherry

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jason Hazelwood

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Majestic Lane

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Malone

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Shon Yates

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Joel Burstein

    CEO

    Total calculated
    $221,462
    From this org
    $199,738
    From related orgs
    $0
    Other
    $21,724
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $199,738
    Bonus
    $0
    Other
    $0
    Deferred
    $8,050
    Nontaxable benefits
    $13,674
    Filer's total
    $221,462

  • Joseph Massaro III

    CSO

    Total calculated
    $202,767
    From this org
    $195,023
    From related orgs
    $0
    Other
    $7,744
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $195,023
    Bonus
    $0
    Other
    $0
    Deferred
    $7,313
    Nontaxable benefits
    $431
    Filer's total
    $202,767

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

  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202413209349302271

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