Harlem Business Alliance Inc
- Assets
- $719.3k
- Revenue
- $455.3k
- Investments
- $0.0
- Employees
- 4
- Location
- New York, NY
- Founding
- 01/1992
- Data as of
- 12/2021
- EIN
- 13-3591350
Organization Overview
Harlem Business Alliance Inc is located in New York, NY. The organization was established in 1992. 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. As of 12/2021, Harlem Business Alliance Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Harlem Business Alliance Inc 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, Harlem Business Alliance Inc generated $455.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.6%) each year. All expenses for the organization totaled $441.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.6%) per year over the past 7 years. 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
TO FACILITATE THE CREATION, SUSTAINABILITY AND GROWTH OF LOCAL BUSINESSES WITH A PARTICULAR EMPHASIS ON BLACK OWNED BUSINESSES BY PROVIDING INTENSIVE, CULTURALLY COMPETENT AND SENSITIVE TECHNICAL ASSISTANCE AND CUTTING EDGE WORKSHOPS TO OUR CLIENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TDX/MTA SMALL BUSINESS DEVELOPMENT PROGRAM: HBA IS WORKING WITH TDX CONSTRUCTION TO ASSIST CONTRACTORS IN GAINING THE KNOWLEDGE AND TOOLS TO SUCCESSFULLY COMPETE ON MTA AND OTHER PUBLIC/PRIVATE SECTOR CONTRACTS. SPECIFICALLY, HBA ASSESSES CONTRACTORS CAPACITY, DEVELOPS ACTION PLANS AND CONDUCTS COMPREHENSIVE WEBSITE REVIEWS WITH RECOMMENDATIONS FOR IMPROVEMENT OR REPLACEMENT.
FINANCIAL LITERACY - NYC DEPARTMENT OF SMALL BUSINESS SERVICES: HBAS ONE-ON-ONE TECHNICAL ASSISTANCE BUILDS ON ITS WORKSHOPS AND INCLUDES, BUT IS NOT LIMITED TO, HELPING ENTREPRENEURS WITH STRATEGIC AND FINANCIAL PLANNING, UTILIZING TECHNOLOGY, BRANDING AND SOCIAL MEDIA. HBA PRESENTED/CO-HOSTED 66 VIRTUAL WORKSHOPS, AND SPENT 292 HOURS ON 70 CLIENTS (AN AVERAGE OF 4.2 HRS PER CLIENT).THE MANDATORY CLOSURE DUE TO COVID-19 REQUIRED HBA TO OPERATE REMOTELY. HBA EFFECTIVELY PIVOTED TO REMOTE INTERACTIONS USING ZOOM, GOTOMEETING AND WEBEX TO VIRTUALLY CONNECT WITH CLIENTS, AND SHARE INFORMATION ABOUT THE FEDERAL PAYROLL PROTECTION PROGRAM, ECONOMIC INJURY DISASTER PROGRAM AND NYC & NYS RESOURCES. INDIVIDUAL CONSULTATIONS WERE CONDUCTED, OFTENTIMES 7 DAYS A WEEK, AND A GREAT DEAL OF TIME WAS SPENT BLASTING INFORMATIONAL EMAILS FROM CITY/STATE/FEDERAL AGENCIES, NON-PROFIT ORGANIZATIONS AND FOUNDATIONS TO HBAS ENTREPRENEURS.
MWBE LEADERSHIP ASSOCIATION - NYC DEPARTMENT OF SMALL BUSINESS SERVICES: HBA PROVIDES MINORITY AND WOMEN BUSINESS OWNERS WITH OUTSTANDING SUPPORT SERVICES IN OBTAINING CITY, STATE AND FEDERAL M/WBE CERTIFICATIONS AND LICENSES; AND WORKS WITH CITY AND STATE AGENCIES TO EXPAND THEIR ACCESS TO PROCUREMENT OPPORTUNITIES. HBA CERTIFIED 16 FIRMS, RECERTIFIED 2 MORE, HELD 4 VIRTUAL WORKSHOPS AND 127 ONE-ON-ONE CONSULTATION SESSIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Regina Smith Executive Director | Officer | 24 | $67,750 |
George H Weldon Jr 2nd Vice Chair Nominating Com | OfficerTrustee | 1 | $0 |
Mark A Samuel Treasurer | OfficerTrustee | 1 | $0 |
Walter Edwards Chairman | OfficerTrustee | 4 | $0 |
Adrianne C Smith Secretary | OfficerTrustee | 1 | $0 |
Larry Dais 1st Vice Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,600 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $205,075 |
| All other contributions, gifts, grants, and similar amounts not included above | $245,262 |
| Noncash contributions included in lines 1a–1f | $36,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $452,937 |
| Total Program Service Revenue | $1,922 |
| Investment income | $476 |
| 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 | $455,335 |
| 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. | $67,750 |
| Compensation of current officers, directors, key employees. | $3,692 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $81,431 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,206 |
| Payroll taxes | $13,017 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $38,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $104,843 |
| Advertising and promotion | $2,420 |
| Office expenses | $5,481 |
| Information technology | $6,199 |
| Royalties | $0 |
| Occupancy | $96,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,609 |
| All other expenses | $0 |
| Total functional expenses | $441,360 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $581,230 |
| Savings and temporary cash investments | $36,701 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $90,563 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,652 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,125 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $719,271 |
| Accounts payable and accrued expenses | $29,995 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $249,900 |
| Other liabilities | $0 |
| Total liabilities | $279,895 |
| Net assets without donor restrictions | $439,376 |
| 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 | $719,271 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Harlem Business Alliance Inc has recieved totaling $5.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Urban Affairs Coalition Philadelphia, PA | $25,704,306 | $97,554,481 |
Brooklyn Navy Yard Development Corporation Brooklyn, NY | $543,633,704 | $68,378,369 |
Cent For Urban Community Svcs New York, NY | $78,734,129 | $72,768,234 |
The Community Preservation Corporation New York, NY | $1,407,109,282 | $65,839,600 |
Quincy Community Action Programs Inc Quincy, MA | $14,865,186 | $43,148,267 |
Westchester Community Opportunity Program Inc Elmsford, NY | $7,932,264 | $37,716,573 |
Reinvestment Fund Inc Philadelphia, PA | $609,259,384 | $44,624,452 |
St Nicks Alliance Corp Brooklyn, NY | $44,353,994 | $35,596,992 |
National Council For Community Development Inc Brooklyn, NY | $24,193,687 | $38,165,020 |
The Community Action Organization Of Western New York Inc Buffalo, NY | $11,956,609 | $31,001,421 |
Community Action Pioneer Valley Inc Greenfield, MA | $7,969,732 | $29,838,934 |
Citizens For Citizens Inc Fall River, MA | $12,279,316 | $29,399,731 |