Skip to content
Nonprofiteer
← BLACK ECONOMIC ALLIANCE FOUNDATION

Form 990 for tax year 2023

Filed by BLACK ECONOMIC ALLIANCE FOUNDATION.

What the amendment changed

Compared with the return it replaced , filed 15 November 2024. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$12,905,048 changed to $7,972,048
Total expenses
$12,291,435 changed to $12,438,564
Contributions and grants received
$12,858,895 changed to $7,925,895
Total assets, end of year
$16,027,539 changed to $15,708,685
Net assets or fund balances, end of year
$12,423,133 changed to $12,104,279
Program services expenses
$10,979,263 changed to $11,124,188
Management and general expenses
$902,526 changed to $918,153
Fundraising expenses
$409,646 changed to $396,223
Program service expenses (Part III)
$10,979,263 changed to $11,124,188

Totals

Total revenue
$7,972,048
Total expenses
$12,438,564
Contributions and grants received
$7,925,895
Grants paid
$8,714,000
Program service revenue
$0
Investment income
$0
Other revenue
$46,153
Total assets, end of year
$15,708,685
Total liabilities, end of year
$3,604,406
Net assets or fund balances, end of year
$12,104,279
Program services expenses (Part IX)
$11,124,188
Management and general expenses
$918,153
Fundraising expenses
$396,223
Program service expenses (Part III)
$11,124,188

Program services were 89.4% 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

    $7,925,895

  • 8a · Fundraising events: gross income

    $160,000

  • 8b · Fundraising events: direct expenses

    $113,847

  • 8c · Net income from fundraising events

    total $46,153 · excluded $46,153

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,714,000 · program services $8,714,000

  • 5 · Compensation of officers, directors and key employees

    total $250,495 · program services $129,286 · management and general $87,406 · fundraising $33,803

  • 7 · Other salaries and wages

    total $386,907 · program services $199,690 · management and general $135,005 · fundraising $52,212

  • 9 · Other employee benefits

    total $75,166 · program services $21,085 · management and general $47,824 · fundraising $6,257

  • 10 · Payroll taxes

    total $45,828 · program services $20,866 · management and general $18,009 · fundraising $6,953

  • 11a · Fees: management

    total $2,112,212 · program services $1,629,072 · management and general $247,045 · fundraising $236,095

  • 11b · Fees: legal

    total $147,401 · program services $10,756 · management and general $133,695 · fundraising $2,950

  • 11c · Fees: accounting

    total $162,254 · management and general $162,254

  • 13 · Office expenses

    total $29,199 · program services $3,493 · management and general $25,136 · fundraising $570

  • 14 · Information technology

    total $237,460 · program services $184,604 · management and general $35,554 · fundraising $17,302

  • 17 · Travel

    total $104,228 · program services $77,397 · management and general $12,936 · fundraising $13,895

  • 19 · Conferences, conventions and meetings

    total $165,213 · program services $133,694 · management and general $5,352 · fundraising $26,167

  • 23 · Insurance

    total $8,201 · program services $245 · management and general $7,937 · fundraising $19

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,068,296 · end of year $12,887,338

  • 4 · Accounts receivable

    beginning of year $240,062 · end of year $2,797,000

  • 9 · Prepaid expenses and deferred charges

    end of year $15,847

  • 15 · Other assets

    beginning of year $0 · end of year $8,500

  • 17 · Accounts payable and accrued expenses

    end of year $413,162

  • 18 · Grants payable

    end of year $2,650,000

  • 19 · Deferred revenue

    end of year $30,000

  • 25 · Other liabilities

    beginning of year $1,927 · end of year $511,244

  • 27 · Net assets without donor restrictions

    beginning of year $12,306,431 · end of year $7,668,747

  • 28 · Net assets with donor restrictions

    end of year $4,435,532

Mission and programs · 2023

Mission

THE ORGANIZATION FOCUSES ON ADVANCING ECONOMIC PROGRESS IN BLACK COMMUNITIES BY SUPPORTING RESEARCH, EDUCATION, AND PUBLIC POLICY DEVELOPMENT AROUND WORK, WAGES, AND WEALTH IN THE BLACK COMMUNITY.

  • FOUNDATION WORKED TO SUPPORT RESEARCH, EDUCATION, AND PUBLIC POLICY DEVELOPMENT AROUND WORK, WAGES, AND WEALTH IN THE BLACK COMMUNITY.

    Expenses $2,474,188

  • CENTER FOR BLACK ENTREPRENEURSHIP - THE BLACK ECONOMIC ALLIANCE FOUNDATION, SPELMAN COLLEGE, AND MOREHOUSE COLLEGE HAVE PARTNERED TO DEVELOP THE CENTER FOR BLACK ENTREPRENEURSHIP (CBE), THE FIRST-EVER ACADEMIC CENTER OF ITS KIND TO PRODUCE, TRAIN, AND SUPPORT A NEW CLASSOF BLACK ENTREPRENEURIAL TALENT.THE CBE SEEKS TO ELIMINATE THE ACCESS BARRIER BETWEEN BLACK ENTREPRENEURS, PROFESSIONAL INVESTORS, AND BUSINESS BUILDERS BY LEVERAGING EDUCATION, MENTORSHIP, ACCESS TO CAPITAL, AND OPPORTUNITY.

    Expenses $8,650,000

As filed on the 2023 return.

Listed in Part VII

  • N Anthony Coles Jr

    DIRECTOR, PRESIDENT

    Total calculated
    $0
    Hours/week
    6 + 4 related

  • Vicki Palmer

    DIRECTOR,TREASURER

    Total calculated
    $0
    Hours/week
    4.9 + 3.1 related

  • Charles Phillips

    DIRECTOR, SECRETARY

    Total calculated
    $0
    Hours/week
    6 + 4 related

  • Tia Breakley

    DIRECTOR, ASST TREASURER

    Total calculated
    $0
    Hours/week
    2.4 + 1.6 related

  • Kneeland Youngblood

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.2 + 0.8 related

  • Robyn Coles

    DIRECTOR

    Total calculated
    $0
    Hours/week
    6 + 4 related

  • Deval Patrick

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.2 + 0.8 related

  • Broderick Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.2 + 0.8 related

  • Mattie McFadden-Lawson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.7 + 1.3 related

  • Richelieu Dennis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.7 + 1.3 related

  • Benarie Wiley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.7 + 1.3 related

  • Rosalind Brewer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.7 + 1.3 related

  • Samantha Tweedy

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $313,393
    From this org
    $250,496
    From related orgs
    $62,897
    Other
    $0
    Hours/week
    32 + 8 related

    Schedule J breakdown matched by us

    Base
    $250,496 + $62,897 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $250,496 + $62,897 related

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 · Form 990 of other organizations
  • 3 · Written employment contract
  • 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

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.

  • BLACK ECONOMIC ALLIANCE FUND

    527 · POLITICAL COMMITTEE · DC · controlled entity

    Directly controlled by BLACK ECONOMIC ALLIANCE

  • BLACK ECONOMIC ALLIANCE PAC

    527 · POLITICAL COMMITTEE · DC · controlled entity

    Directly controlled by BLACK ECONOMIC ALLIANCE

  • BLACK ECONOMIC ALLIANCE

    501(C)(4) · SOCIAL WELFARE · DC · controlled entity

    Directly controlled by BLACK ECONOMIC ALLIANCE

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • BLACK ECONOMIC ALLIANCE VENTURES LLC

    DC

Provenance

Return type
form_990
Tax year
2023
Filed
21 February 2025
IRS schema version
2023v6.0
Source object
202500599349301120

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.