Small Business Majority Foundation Inc
- Assets
- $9.1m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 36
- Location
- Washington, DC
- Founding
- 11/2010
- Data as of
- 12/2023
- EIN
- 03-0576666
Organization Overview
Small Business Majority Foundation Inc, operating under the name Small Business Majority, is located in Washington, DC. The organization was established in 2010. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Small Business Majority employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Small Business Majority is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Small Business Majority generated $5.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $5.1m during the year ending 12/2023. While expenses have increased by 2.7% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT AMERICA'S 35 MILLION SMALL BUSINESSES VIA PUBLIC POLICY ADVOCACY AND PRACTICAL RESOURCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUTREACH, EDUCATION & ADVOCACY - WE CONDUCT OUTREACH FROM OUR OFFICES IN WASHINGTON, DC, CALIFORNIA, COLORADO, GEORGIA, ILLINOIS, AND NEW MEXICO, WITH A FOCUS ON SERVING THE NEEDS OF SMALL BUSINESS OWNERS WHO FACE SYSTEMIC BARRIERS INCLUDING WOMEN, PEOPLE OF COLOR, IMMIGRANTS, AND THOSE OPERATING IN RURAL AREAS. WE PROVIDE A SUITE OF EDUCATIONAL PROGRAMS AND RESOURCES TO EMPOWER ENTREPRENEURS TO START AND GROW THEIR ENTERPRISES AND MAXIMIZE THEIR ECONOMIC PROSPERITY ON TOPICS LIKE ACCESS TO RESPONSIBLE CAPITAL, HEALTHCARE AND OTHER ESSENTIAL BENEFITS, AND LEVEL PLAYING FIELD. FURTHERMORE, WE PROVIDE SMALL BUSINESS OWNERS OPPORTUNITIES TO ADVOCATE FOR PUBLIC POLICY CHANGES IN THESE AREAS THAT ADVANCE ENTREPRENEURSHIP. OUR NETWORK IS COMPRISED OF 85,000 SMALL BUSINESS OWNERS AND MORE THAN 1,500 BUSINESS ORGANIZATIONS. OUR WORK IS GUIDED BY NATIONAL AND STATE SMALL BUSINESS COUNCILS OF ACTIVE SMALL BUSINESS OWNERS.
COMMUNICATIONS - WE COMMUNICATE OUR MESSAGE TO POLICYMAKERS AND THE MEDIA VIA EXTENSIVE PUBLIC RELATIONS EFFORTS TARGETING MAINSTREAM ELECTRONIC, PRINT, AND ONLINE MEDIA. OUR WORK INCLUDES ONE-ON-ONE COMMUNICATION WITH REPORTERS, PRESS RELEASES, OP-EDS, LETTERS TO THE EDITOR, MULTIPLE WEB SITES, A BI-WEEKLY NEWSLETTER, AND DAILY COMMUNICATION VIA A HOST OF SOCIAL MEDIA CHANNELS.
RESEARCH - WE CONDUCT WIDE-RANGING RESEARCH TO UNDERSTAND SMALL BUSINESS OWNERS' NEEDS, CHALLENGES, AND OPPORTUNITIES. FOCUSED ON UNCOVERING THE PERSPECTIVES OF BUSINESSES OWNED BY PEOPLE OF COLOR, WOMEN, AND OTHER UNDER-RESOURCED ENTREPRENEURS, WE COMMUNICATE OUR FINDINGS TO POLICYMAKERS, THE MEDIA, AND OTHER STAKEHOLDERS. OUR RESEARCH PRODUCTS INCLUDE SCIENTIFIC OPINION POLLING, INTERNAL NETWORK SURVEYS, FOCUS GROUPS, AND ROUNDTABLE DISCUSSIONS. WE WORK WITH ACADEMIC AND OTHER RESEARCH INSTITUTIONS TO AGGREGATE AND SYNTHESIZE DATA TO BETTER UNDERSTAND THE CHALLENGES FACED BY UNDER-RESOURCED ENTREPRENEURS AND ASSESS THE BENEFIT OF PUBLIC POLICIES AND TARGETED RESOURCE INTERVENTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Founder & CEO | OfficerTrustee | 60 | $312,035 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Secretary/treasurer/vp, Operations | Officer | 40 | $171,188 |
Name Not Listed Vice President, Research & Insights | 60 | $156,070 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,160,035 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,160,035 |
| Total Program Service Revenue | $0 |
| Investment income | $128,826 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,327,951 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $501,274 |
| Compensation of current officers, directors, key employees. | $55,289 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,080,498 |
| Pension plan accruals and contributions | $40,903 |
| Other employee benefits | $276,598 |
| Payroll taxes | $266,860 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $299 |
| Fees for services: Accounting | $30,070 |
| Fees for services: Lobbying | $80,041 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $166,265 |
| Advertising and promotion | $0 |
| Office expenses | $19,837 |
| Information technology | $32,901 |
| Royalties | $0 |
| Occupancy | $189,750 |
| Travel | $150,015 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $145,270 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,804 |
| Insurance | $10,782 |
| All other expenses | $0 |
| Total functional expenses | $5,127,816 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,410,694 |
| Savings and temporary cash investments | $55,342 |
| Pledges and grants receivable | $1,864,557 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $68,895 |
| Net Land, buildings, and equipment | $32,664 |
| Investments—publicly traded securities | $5,081,243 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $564,214 |
| Total assets | $9,077,609 |
| Accounts payable and accrued expenses | $118,305 |
| Grants payable | $0 |
| Deferred revenue | $6,080,770 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $588,827 |
| Total liabilities | $6,787,902 |
| Net assets without donor restrictions | $2,289,707 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,077,609 |