Form 990-EZ for tax year 2023

Totals

Total revenue

$0

Total expenses

$89,207

Contributions and grants received

— not reported

Grants paid

— not reported

Program service revenue

— not reported

Membership dues (line 3)

— not reported

Investment income (line 4)

— not reported

Gain or loss on sale of assets (line 5c)

— not reported

Gaming and fundraising events, net (line 6d)

— not reported

Gross profit on inventory sales (line 7c)

— not reported

Other revenue (line 8)

— not reported

Total assets, end of year

$53,789

Total liabilities, end of year

$851

Net assets or fund balances, end of year

$52,938

Program service expenses (Part III)

$35,856

Program services were 40.2% of total expenses calculated — Part III's total program service expenses over total expenses, both as filed.

Mission and programs · 2023

• Financial services - BRF provides flexible capital to underserved entrepreneurs, with a focus on Black, Latino, and businesses that operate in an undercapitalized census tract in greater Baltimore. Our initial geographic focus is in the Brooklyn, Brooklyn Park, and Curtis Bay communities. In the long term, we expect to serve entrepreneurs in the greater Baltimore region. BRF Board members, staff, volunteers, independent contractors, and partners will conduct this activity. 66 percent of time and 66 percent of overall expenses will be allocated to this activity, which primarily will be funded by donations, grants, and fees. This activity furthers BRF's charitable exempt purposes by supporting an equitable and thriving small business community, which contributes to neighborhood revitalization and building local wealth in distressed neighborhoods in the greater Baltimore region.

  Expenses $23,665

• Development services - BRF provides business technical assistance to legacy and emerging businesses, including business planning, financial projections, operations, credit building, and marketing assistance. Free technical assistance includes workshops and 1:1 coaching, as well as access to specialized professional services such as accounting, legal services, graphic design, or HR experts. BRF Board members, staff, volunteers, independent contractors, and partners will conduct this activity initially in the Brooklyn, Brooklyn Park, and Curtis Bay communities. In the long term, we expect to serve entrepreneurs in the greater Baltimore region. 34 percent of time and 34 percent of overall expenses will be allocated to this activity, which primarily will be funded by donations and grants. This activity furthers BRF's charitable exempt purposes by fostering an equitable and thriving small business community, which contributes to neighborhood revitalization and building local wealth in distressed neighborhoods in the greater Baltimore region.

  Expenses $12,191

As filed on the 2023 return.

Listed in Part IV

Compensation is as filed in Part IV of the Form 990-EZ: compensation, contributions to benefit plans, expense account, 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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type

form_990_ez

Tax year

2023

Filed

30 April 2025

IRS schema version

2023v6.0

Source object

202541209349202424

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