Skip to content
Nonprofiteer
← ACCELERATE 500 INC

Form 990 for tax year 2023

Filed by ACCELERATE 500 INC.

Totals

Total revenue
$3,081,284
Total expenses
$4,588,079
Contributions and grants received
$3,025,949
Grants paid
$846,600
Program service revenue
$0
Investment income
$0
Other revenue
$55,335
Total assets, end of year
$6,429,966
Total liabilities, end of year
$1,150,425
Net assets or fund balances, end of year
$5,279,541
Program services expenses (Part IX)
$1,705,516
Management and general expenses
$2,722,267
Fundraising expenses
$160,296
Program service expenses (Part III)
$1,705,516

Program services were 37.2% 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

    $3,025,949

  • 11a · Other revenue: MANAGEMENT INCOME

    total $55,335 · related or exempt $55,335

  • 11e · Other revenue, total

    $55,335

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $796,600 · program services $796,600

  • 2 · Grants to domestic individuals

    total $50,000 · program services $50,000

  • 7 · Other salaries and wages

    total $1,195,411 · program services $320,638 · management and general $714,477 · fundraising $160,296

  • 8 · Pension plan contributions

    total $5,589 · program services $5,589

  • 9 · Other employee benefits

    total $104,161 · program services $104,161

  • 10 · Payroll taxes

    total $78,459 · program services $78,459

  • 11b · Fees: legal

    total $64,991 · management and general $64,991

  • 11c · Fees: accounting

    total $243,797 · management and general $243,797

  • 13 · Office expenses

    total $2,909 · program services $31 · management and general $2,878

  • 16 · Occupancy

    total $134,965 · management and general $134,965

  • 17 · Travel

    total $165,089 · program services $19,826 · management and general $145,263

  • 19 · Conferences, conventions and meetings

    total $41,551 · program services $24,185 · management and general $17,366

  • 22 · Depreciation, depletion and amortization

    total $2,452 · management and general $2,452

  • 23 · Insurance

    total $13,076 · management and general $13,076

  • 24a · Other expenses: SUBCONTRACTORS

    total $1,441,160 · program services $257,875 · management and general $1,183,285

  • 24b · Other expenses: DUES & SUBSCRIPTIONS

    total $143,357 · program services $33,513 · management and general $109,844

  • 24c · Other expenses: COMMUNITY RELATIONS MAR

    total $52,894 · program services $11,593 · management and general $41,301

  • 24d · Other expenses: MEALS

    total $36,188 · program services $3,046 · management and general $33,142

  • 24e · All other expenses

    total $15,430 · management and general $15,430

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,889,132 · end of year $4,236,610

  • 5 · Loans and receivables from officers and key people

    beginning of year $2,870 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $21,112 · end of year $17,589

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

    $13,251

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

    $4,636

  • 10c · Land, buildings and equipment, net

    beginning of year $8,433 · end of year $8,615

  • 12 · Investments: other securities

    beginning of year $91 · end of year $195

  • 13 · Investments: program-related

    beginning of year $0 · end of year $1,750,000

  • 15 · Other assets

    beginning of year $154,942 · end of year $416,957

  • 17 · Accounts payable and accrued expenses

    beginning of year $94,330 · end of year $94,785

  • 19 · Deferred revenue

    beginning of year $275,000 · end of year $200,000

  • 25 · Other liabilities

    beginning of year $2,569,122 · end of year $855,640

  • 27 · Net assets without donor restrictions

    beginning of year $4,138,128 · end of year $5,279,541

Mission and programs · 2023

Mission

ACCELERATE 500 INC. IS A BUSINESS DEVELOPMENT PROGRAM DEESIGNED TO BRIDGE THE GAP BETWEEN ENTREPRENEURSHIP AND EQUITY. OUR PROGRAMS SEEK TO ACCELERATE NEW MAJORITY ENTREPENEURS FROM HIGH POTENTIAL TO HIGH GROWTH. OUR VISION IS TO CREATE $100 BILLION OF NEW WEALTH AND ECONOMIC POWER FOR AND BY THE NEW MAJORITY. THE FIRM PROVIDES SEVERAL PROGRAMS DESIGNED TO SUPPORT VARIOUS STAGES IN THE LIFECYCLE TO INCLUDE EARLY-STAGE AND GROWTH-STAGE.

Activities or mission (Part I)

A BUSINESS DEVELOPMENT PROGRAM DESIGNED TO BRIDGE THE GAP BETWEEN ENTREPRENEURSHIP AND EQUITY.

  • 1. BEYOND 5- THE BEYOND 5 CAMPAIGN IS DESIGNED TO PROMOTE AND SUPPORT NEW MAJORITY BUSINESSES TO INCREASE THE LIKELIHOOD OF BUSINESS SUCCESS BEYOND THE TYPICAL FAILURE RATE OF 5 YEARS. THE CAMPAIGN IS COMPRISED OF THREE STRATEGIES:I. NATIONAL SOCIAL MEDIA CAMPAIGN IN AN EFFORT TO CHANGE THE NEGATIVE NARRATIVE AROUND FOUNDERS FOR COLOR, WE HAVE INITIATED A SOCIAL MEDIA CAMPAIGN TO PROMOTE NEW MAJORITY FOUNDERS WHO HAVE MADE IT BEYOND 5. OUR GOAL IS TO LEVERAGE OUR SOCIAL MEDIA, AND THAT OF OUR PARTNERS, TO PROMOTE THE SUCCESS STORIES OF NEW MAJORITY ENTREPRENEURS WHO HAVE BEEN RUNNING BUSINESSES BEYOND 5 YEARS. WE WELCOME ANY SELF-NOMINATIONS OR RECOMMENDATIONS FOR ENTREPRENEURS TO PROMOTE IN THE CAMPAIGN; EMAIL US AT [email protected]. SURVIVABILITY RESEARCH REPORTTHERE IS A DEARTH OF PRIMARY RESEARCH AND IN-DEPTH ANALYSIS ON WHAT IT TAKES A BUSINESS TO SURVIVE BEYOND 5 YEARS. OUR REPORT WILL COLLECT DATA FROM OVER 1,000 CANDIDATES AND SEEK TO PROVIDE INSIGHT ON KEY INPUTS FOR SURVIVING BEYOND 5 YEARS. WE WILL PROVIDE CASE STUDIES, AS WELL AS OUTLINES AREAS OF OPPORTUNITY FOR ECOSYSTEM BUILDERS, POLICY MAKERS, INVESTORS, AND THE LIKE TO HELP ADVANCE THESE BUSINESSES BEYOND THE "VALLEYS OF DEATH".2. PIPELINE PROGRAM - THE PIPELINE PROGRAM WAS CREATED TO EQUIP FOUNDERS WITH THE PROCESSES, MINDSETS AND GUIDANCE TO ADDRESS THESE CHALLENGES AND RAPIDLY ACCELERATE TOWARDS SCALE. THE AIM OF THE PIPELINE PROGRAM IS TO WORK WITH BUSINESS LEADERS TO IDENTIFY BUSINESS GOALS AND THEN DEVELOP AN ACTIONABLE PLAN TO NOT ONLY TO HELP THEM ACHIEVE THEIR GOALS, BUT TO HELP THEIR BUSINESS BECOME SUSTAINABLE. BY HELPING ENTREPRENEURS BUILD BETTER BUSINESSES, PIPELINE ENABLES COMPANIES TO ATTRACT THE TALENT, CAPITAL AND CONNECTIONS NEEDED FORLAST GROWTH AND DEVELOPMENT. THE PIPELINE PROGRAM IS FOCUSED ON HELPING ENTREPRENEURS GROW A SUCCESSFUL BUSINESS. THE PROGRAM'S FOCUS IS BEYOND LEARNING HOW TO PITCH AND PRESENT. INSTEAD, TIME IS INTENTIONALLY SPENT ON SUPPORTING BUSINESSES ON A PATH TO MATURITY. ENTREPRENEURS COMPLETING THE PROGRAM WILL HAVE A MORE INVESTMENT-READY BUSINESS AND TRULY UNDERSTAND WHY AND HOW TO DEPLOY FUTURE FINANCINGS.3. HERIMPACT - HERIMPACT IS DESIGNED TO HELP FEMALE SOCIAL ENTREPRENEURS SCALE THEIR ENTERPRISES IN ORDER TO INCREASE THEIR IMPACT AND LONG-TERM SUSTAINABILITY. THE PROGRAM WAS INITIATED IN THE FALL OF 2018. THE INITIATIVE IS COMPRISED OF AN ENTREPRENEURSHIP SUMMIT, WHICH IS DESIGNED TO BUILD COMMUNITY AND INCREASE THE CAPACITY OF FEMALE SOCIAL ENTREPRENEURS THROUGH ADVICE FROM EXPERTS, ONLINE TOOLS AND NETWORKING. THE INITIATIVE ALSO INCLUDES A PITCH COMPETITION, DESIGNED TO INVEST IN EARLY AND GROWTH STAGE COMPANIES IN THE REGION.

    Expenses $1,705,516 · Grants $846,600 · Revenue $3,025,949

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

Listed in Part VII

  • Melissa Bradley

    MANAGING PARTNER

    Total calculated
    $381,875
    From this org
    $381,875
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $381,875
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $381,875

  • Jenn Flynn

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Graham McLaughlin

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Vonetta Young

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rustin Brown

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marissa Mahoney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Aerica Banks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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 · 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

  • FEMLY CORPORATION

    $50,000

    BUSINESS CONTINUITY

  • TIRZA DESIGN LLC

    $27,500

    BUSINESS CONTINUITY

  • THE LAB DRAWER LLC

    $25,000

    BUSINESS CONTINUITY

  • BLACK GIRL MATHGIC

    $20,000

    BUSINESS CONTINUITY

  • KC CAN COMPOST

    $12,500

    BUSINESS CONTINUITY

  • PARAMI LLC

    $10,000

    BUSINESS CONTINUITY

  • SMART FENCE COMPANY LLC

    $10,000

    BUSINESS CONTINUITY

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202423209349315402

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.