Form 990 for tax year 2023
Filed by GREATER LOS ANGELES AFRICAN AMERICAN CHAMBER OF COMMERCE.
Totals
- Total revenue
- $981,623
- Total expenses
- $924,296
- Contributions and grants received
- $724,786
- Grants paid
- $0
- Program service revenue
- $210,242
- Investment income
- $42,541
- Other revenue
- $4,054
- Total assets, end of year
- $2,103,797
- Total liabilities, end of year
- $1,198
- Net assets or fund balances, end of year
- $2,102,599
- Program services expenses (Part IX)
- $316,878
- Management and general expenses
- $182,393
- Fundraising expenses
- $425,025
- Program service expenses (Part III)
- $316,878
Program services were 34.3% 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
$60,425
-
1c · Fundraising events
$656,130
-
1f · All other contributions, gifts and grants
$8,231
-
2a · Program service revenue: Program Event Sponsor
total $210,242 · related or exempt $210,242
-
3 · Investment income
total $42,541 · related or exempt $42,541
-
8a · Fundraising events: contributions included on line 1c
$656,130
-
11a · Other revenue: Misc Income
total $4,054 · related or exempt $4,054
-
11e · Other revenue, total
$4,054
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $186,743 · program services $130,721 · management and general $56,022
-
9 · Other employee benefits
total $29,197 · program services $20,441 · management and general $8,756
-
11c · Fees: accounting
total $12,033 · program services $9,627 · management and general $2,406
-
11g · Fees: other
total $63,050 · management and general $63,050
-
12 · Advertising and promotion
total $8,275 · program services $8,275
-
16 · Occupancy
total $72,359 · program services $50,653 · management and general $21,706
-
22 · Depreciation, depletion and amortization
total $607 · program services $607
-
23 · Insurance
total $5,113 · program services $2,556 · management and general $2,557
-
24a · Other expenses: Bank Service Charges
total $21,877 · program services $4,629 · management and general $17,248
-
24b · Other expenses: Office Supplies and Expenses
total $2,724 · program services $2,724
-
24c · Other expenses: Donations
total $10,648 · management and general $10,648
-
24d · Other expenses: Professional Fees
total $3,902 · program services $3,902
-
24e · All other expenses
total $507,768 · program services $82,743 · fundraising $425,025
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $680,955 · end of year $718,017
-
2 · Savings and temporary cash investments
beginning of year $88,464 · end of year $90,613
-
9 · Prepaid expenses and deferred charges
beginning of year $7,410 · end of year $7,410
-
10a · Land, buildings and equipment: cost or other basis
$21,735
-
10b · Land, buildings and equipment: accumulated depreciation
$20,199
-
10c · Land, buildings and equipment, net
beginning of year $2,144 · end of year $1,536
-
12 · Investments: other securities
beginning of year $1,005,338 · end of year $1,036,625
-
15 · Other assets
beginning of year $260,961 · end of year $249,596
-
17 · Accounts payable and accrued expenses
end of year $38
-
25 · Other liabilities
end of year $1,160
-
31 · Retained earnings, endowment or other funds
beginning of year $2,045,272 · end of year $2,102,599
Mission and programs · 2023
Mission
Business Advocacy
-
Promotion of business - industrial trade and econo-political issuesaffecting African-American business in the greater Los Angeles County area.
Expenses $316,878
As filed on the 2023 return.
Listed in Part VII
-
Angela Gibson Shaw
President
- Total calculated
- $35,961
- From this org
- $35,961
- From related orgs
- $0
- Other
- $0
- Hours/week
- 30
-
Gene Hale
Chairman
- Total calculated
- $10,000
- From this org
- $10,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
-
Pamela Alexander
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
McKenzie Neely Wright
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Cameron Onumah
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Celeste Alleyne
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Tene C Bonds
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Jamarah Hayner
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Breana Weaver
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Delphine D Pruitt
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Clifton L Johnson
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Lisa Stevens
Vice President
- Total calculated
- $0
- Hours/week
- 3
-
Lily Otieno
Treasurer
- Total calculated
- $0
- Hours/week
- 3
-
Ronald A Lowe
Secretary
- Total calculated
- $0
- Hours/week
- 3
-
DuVon Davis
Vice Chairman
- Total calculated
- $0
- Hours/week
- 3
-
Anthony Holland
Vice President
- Total calculated
- $0
- Hours/week
- 3
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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 6 May 2024
- IRS schema version
- 2023v5.0
- Source object
- 202421349349309602
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