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Nonprofiteer
← CALIFORNIA BLACK CHAMBER OF COMMERCE

Form 990 for tax year 2022

Filed by CALIFORNIA BLACK CHAMBER OF COMMERCE.

Totals

Total revenue
$1,353,667
Total expenses
$1,352,353
Contributions and grants received
$1,207,699
Grants paid
$396,714
Program service revenue
$145,968
Investment income
$0
Other revenue
$0
Total assets, end of year
$113,935
Total liabilities, end of year
$61,934
Net assets or fund balances, end of year
$52,001
Program services expenses (Part IX)
$454,271
Management and general expenses
$898,082
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 33.6% 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.

  • 1b · Membership dues

    $74,170

  • 1d · Related organizations

    $169,351

  • 1e · Government grants (contributions)

    $616,864

  • 1f · All other contributions, gifts and grants

    $347,314

  • 2a · Program service revenue: PROGRAM SERVICE FEES

    total $6,150 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: COVID ERTC

    total $139,818 · unrelated business $0 · excluded $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $396,714 · program services $396,714

  • 7 · Other salaries and wages

    total $270,570 · program services $0 · management and general $270,570 · fundraising $0

  • 9 · Other employee benefits

    total $236 · program services $0 · management and general $236 · fundraising $0

  • 10 · Payroll taxes

    total $69,829 · program services $0 · management and general $69,829 · fundraising $0

  • 11a · Fees: management

    total $154,784 · program services $0 · management and general $154,784 · fundraising $0

  • 11b · Fees: legal

    total $1,020 · program services $0 · management and general $1,020 · fundraising $0

  • 11c · Fees: accounting

    total $5,720 · program services $0 · management and general $5,720 · fundraising $0

  • 11g · Fees: other

    total $79,764 · program services $0 · management and general $79,764 · fundraising $0

  • 13 · Office expenses

    total $59,673 · program services $0 · management and general $59,673 · fundraising $0

  • 16 · Occupancy

    total $79,433 · program services $0 · management and general $79,433 · fundraising $0

  • 17 · Travel

    total $10,860 · program services $0 · management and general $10,860 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $137,624 · program services $0 · management and general $137,624 · fundraising $0

  • 23 · Insurance

    total $20,619 · program services $0 · management and general $20,619 · fundraising $0

  • 24a · Other expenses: EQUIPMENT RENT

    total $15,854 · program services $15,854 · management and general $0 · fundraising $0

  • 24b · Other expenses: UTILITIES

    total $7,950 · program services $0 · management and general $7,950 · fundraising $0

  • 24c · Other expenses: MISCELLANOUS

    total $39,280 · program services $39,280 · management and general $0 · fundraising $0

  • 24d · Other expenses: SECURITY

    total $2,423 · program services $2,423 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $50,687 · end of year $113,935

  • 23 · Secured mortgages and notes payable

    end of year $61,934

  • 31 · Retained earnings, endowment or other funds

    beginning of year $50,687 · end of year $52,001

Mission and programs · 2022

Mission

TO ESTABLISH A STATEWIDE NETWORK AMOUNG CA'S BLACK AND MINORITY CHAMBERS OF COMMERCE; TO ACTIVELY PROMOTE ECONOMIC DEVELOPMENT AND FINANCIAL LITERACY IN MARGINALIZED AND UNDERSERVED COMMUNITIES; TO STRENGTHEN THE AFRICAN AMERICAN SMALL BUSINESS COMMUNITIES THROUGH COMPREHENSIVE TRAINING AND CONNECTIVITY TO RESOURCES AND CONTRACTING OPPORTUNITIES.

Activities or mission (Part I)

THE CORPORATION IS ORGANIZED TO ESTABLISH A STATEWIDE NETWORK AMONG CALIFORNIA BLACK AND BROWN CHAMBERS OF COMMERCE AND BUSINESS ASSOCIATIONS TO ACTIVELY PROMOTE ECONOMIC DEVELOPMENT IN MARGINALIZED COMMUNITIES.

  • ANNUAL ECONOMIC SUMMIT: TO BRING COMMUNITY & BUSINESS LEADERS TO A FORUM TO INFLUENCE, INSPIRE AND PROMOTE UNDERPRIVILAGED MINORITY BUSINESS AND ORGANIZATIONS.

As filed on the 2022 return.

Listed in Part VII

  • Jay A King III

    PRESIDENT/CEO

    Total calculated
    $155,226
    From this org
    $155,226
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,226
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $155,226

  • Delores Thompson

    SECRETARY

    Total calculated
    $0
    Hours/week
    4

    Schedule J breakdown matched by us

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

  • Ruth Artates-Rezaie

    CHIEF FINANCIAL OFFICER

    Total calculated
    $10,820
    From this org
    $10,820
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Anthony Wallace

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Mary Evans

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • George Jones

    BOARD MEMBER

    Total calculated
    $3,000
    From this org
    $3,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

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

Provenance

Return type
form_990
Tax year
2022
Filed
5 June 2023
IRS schema version
2022v5.0
Source object
202321639349300432

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