Beaufort County Black Chamber Of
- Assets
- $4.5m
- Revenue
- $726.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Beaufort, SC
- Founding
- 08/2002
- Data as of
- 12/2021
- EIN
- 04-3627371
Organization Overview
Beaufort County Black Chamber Of is located in Beaufort, SC. The organization was established in 2002. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beaufort County Black Chamber Of 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 12/2021, Beaufort County Black Chamber Of generated $726.0k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $847.5k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE IS TO EDUCATE AND ENHANCE ENTREPRENURIAL SKILLS OF AFRICAN-AMERICANS AND SMALL BUSINESSES TO IMPROVE THE CONDITIONS IN OUR COMMUNITY THROUGH ECONOMIC EMPOWERMENT, DEVELOPMENT AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEDICATED RESOURCES TO EDUCATE AND ENHANCE ENTREPRENEURIAL SKILLS OF AFRICAN-AMERICANS AND SMALL BUSINESSES TO IMPROVE THE CONDITIONS IN OUR COMMUNITY THROUGH ECOMONIC EMPOWERMENT, DEVELOPMENT AND EDUCATION. IN CONJUNCTION WITH SCORE, CONDUCTED ZOOM CLASSES WITH 35 NEW BUSINESS OWNERS
USDA, SBA, WELLS FARGO, AND OPPORTUNTY FINANCE NETWORK LOAN AND GRANT FUNDS PROVIDED TECHNICAL ASSISTANCE AND EDUCATION TO SMALL BUSINESS APPLICANTS IN RURAL BEAUFORT COUNTY AND SURROUNDING AREAS. SUCCESSFULLY APPROVED 18 R NEW LOANS TOTALING 258,000.
PROMOTED BEAUFORT COUNTY CULTURAL HERITAGE AND TOURISM VALUE THROUGH PUBLICATIONS AND CULTURAL EVENTS.
DEDICATED RESOURCES TO EDUCATE AND ENHANCE ENTREPRENEURIAL SKILLS OF AFRICAN-AMERICANS AND SMALL BUSINESSES TO IMPROVE THE CONDITIONS IN OUR COMMUNITY THROUGH ECOMONIC EMPOWERMENT, DEVELOPMENT AND EDUCATION. IN CONJUNCTION WITH SCORE, CONDUCTED ZOOM CLASSES WITH 35 NEW BUSINESS OWNERS
USDA, SBA, WELLS FARGO, AND OPPORTUNTY FINANCE NETWORK LOAN AND GRANT FUNDS PROVIDED TECHNICAL ASSISTANCE AND EDUCATION TO SMALL BUSINESS APPLICANTS IN RURAL BEAUFORT COUNTY AND SURROUNDING AREAS. SUCCESSFULLY APPROVED 18 R NEW LOANS TOTALING 258,000.
PROMOTED BEAUFORT COUNTY CULTURAL HERITAGE AND TOURISM VALUE THROUGH PUBLICATIONS AND CULTURAL EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Holman President/ceo | OfficerTrustee | 40 | $0 |
Michael Hill Brd Chairman | OfficerTrustee | 0.5 | $0 |
Linwood Long Vice Chairman | OfficerTrustee | 0.5 | $0 |
Wilma Holman Secretary | Officer | 0.5 | $0 |
Miguel Camacho Treasurer | OfficerTrustee | 0.5 | $0 |
Bernard Mcintyre Brd Chairman | Officer | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Larry Holman Management Services | 12/30/19 | $128,670 |
Neal Construction Llc Construction Services | 12/30/19 | $144,672 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $13,802 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $293,037 |
| All other contributions, gifts, grants, and similar amounts not included above | $315,129 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $621,968 |
| Total Program Service Revenue | $39,440 |
| Investment income | $167 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $58,527 |
| Net Gain/Loss on Asset Sales | $12,128 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$6,242 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $725,988 |
| 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. | $126,000 |
| Compensation of current officers, directors, key employees. | $37,800 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,845 |
| Fees for services: Accounting | $29,946 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $299,661 |
| Advertising and promotion | $47,845 |
| Office expenses | $23,280 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $112,714 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $237 |
| Interest | $15,676 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $56,776 |
| Insurance | $17,597 |
| All other expenses | $3,045 |
| Total functional expenses | $847,509 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,278,329 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $154,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $576,417 |
| Inventories for sale or use | $50,664 |
| Prepaid expenses and deferred charges | $24,854 |
| Net Land, buildings, and equipment | $2,367,066 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,451,330 |
| Accounts payable and accrued expenses | $66,937 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $3,439,654 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,506,591 |
| Net assets without donor restrictions | -$148,895 |
| Net assets with donor restrictions | $1,093,634 |
| 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 | $4,451,330 |
Grants Awarded
Over the last fiscal year, Beaufort County Black Chamber Of has awarded $52,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Beaufort, SC PURPOSE: PROGRAM SERVICES | $9,500 |
Barnwell, SC PURPOSE: PROGRAM SERVICES | $7,500 |
CARAE'S BEAUFORT CNTY YOUTH CONF PURPOSE: PROGRAM SERVICES | $7,500 |
Allendale, SC PURPOSE: PROGRAM SERVICES | $7,500 |
Barnwell, SC PURPOSE: PROGRAM SERVICES | $5,000 |
WHY NOT YOUNG LIVES PURPOSE: PROGRAM SERVICES | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Beaufort County Black Chamber Of has recieved totaling $200,000.
| Awarding Organization | Amount |
|---|---|
Opportunity Finance Network Philadelphia, PA PURPOSE: COVID-19 GRANT | $150,000 |
Opportunity Finance Network Philadelphia, PA PURPOSE: COVID-19 GRANT | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Csra Economic Opportunity Authority Inc Augusta, GA | $4,657,645 | $27,091,304 |
Charleston Area Convention & Visitors Bureau Charleston, SC | $17,210,458 | $29,781,081 |
Neighborhood Improvement Project Inc Augusta, GA | $12,770,161 | $24,738,698 |
Action Pact Inc Waycross, GA | $10,194,672 | $25,026,911 |
Tallatoona Community Action Partnership Inc Cartersville, GA | $2,878,907 | $21,403,724 |
Macon Bibb County Economic Opportunity Council Inc Macon, GA | $9,862,743 | $18,330,804 |
Economic Opportunity For Savannah Chatham County Area Inc Savannah, GA | $8,523,279 | $14,850,530 |
Waccamaw Economic Opportunity Council Inc Conway, SC | $5,439,118 | $14,126,176 |
Coastal Plain Area Economic Opportunity Authority Inc Valdosta, GA | $6,623,534 | $13,801,263 |
Coastal Community Action Inc Newport, NC | $6,264,251 | $13,623,681 |
Aiken Barnwell Counties Community Action Agency Inc Aiken, SC | $1,345,575 | $11,151,502 |
Community Action For Improvement Inc Lagrange, GA | $4,305,950 | $11,116,636 |