African-American Business Association Inc, operating under the name Iowa Core Inc, is located in Waterloo, IA. The organization was established in 2013. 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. Iowa Core Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE IOWA CENTER FOR OPPORTUNITY RESOURCES & EQUITY INC.'S MISSION IS TO RESEARCH, ADVOCATE, AND PROCURE RESOURCES FOR HISTORICALLY DISENFRANCHISED COMMUNITIES AND UNDERSERVED POPULATIONS IN IOWA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RETHINK IOWA FELLOWSHIP - COMMUNITY-LED RESEARCH FELLOWSHIP THAT INCLUDES WEEKLY ENGAGEMENTS WITH UNDERREPRESENTED ENTREPRENEURS IN IOWA, EDUCATIONAL WORKSHOPS WITH TECHNICAL EXPERTS, AND PUBLIC/ PRIVATE SECTOR LEADERSHIP TALENT DEVELOPMENT. SUCCESS IS MEASURED THROUGH AUTHENTIC STORYTELLING, RESILIENT HUMAN POTENTIAL, AND EQUITABLE POLICY MAKING. FELLOWSHIP PARTICIPANTS ALSO ENGAGE IN RESEARCH TO REDUCE SOCIAL WELFARE BARRIERS AND IMPROVE THE WELLBEING OF HISTORICALLY DISENFRANCHISED COMMUNITIES. THANKS TO ANNUAL DONATIONS OF IN-KIND SERVICES AND SUPPORT RESOURCES FROM THE MRG IMPACT FUND - NONGRANTOR CHARITABLE LEAD UNITRUST THIS PROGRAM HAS BEEN A CATALYST TO INNOVATION AND PARTICIPATORY PROGRAM DEVELOPMENTS. LEARN MORE - HTTPS://RETHINKIOWA.ORG
SOCIAL ENTERPRISE / IMPACT INCUBATOR - AN INNOVATIVE PROGRAM THAT OPENS DOORS OF OPPORTUNITY FOR HISTORICALLY DISENFRANCHISED POPULATIONS TO DEVELOP SERVANT LEADERSHIP SKILLS, DESIGN SOLUTIONS TO THAT IMPACT HISTORICALLY UNDERSERVED COMMUNITIES, AND SCALE SOCIAL ENTERPRISES IN IOWA. THROUGH AN ASSESSMENT AND THE COMPETITION OF A CERTIFICATION PROGRAM, ANY SOCIAL ENTERPRISES ARE ELEVATED TO REVOLUTIONIZE SUSTAINABLE BUSINESS PRACTICES, ENSURING LOCAL BUSINESSES ARE BOTH PROFITABLE AND MAKING A POSITIVE SOCIETAL CONTRIBUTION. SUCCESS IS MEASURED THROUGH AN INCLUSIVE ECOSYSTEM AND SOCIAL JUSTICE FRAMEWORK THAT ACCELERATES INNOVATION, BUILDS SHARED GOVERNANCE, AND PROTECTS COMMUNITY EQUITY. CURRENTLY THERE ARE MORE THAN 10 SOCIAL ENTERPRISES BEING DEVELOPED OR IN FULL OPERATION, EACH BUSINESS HAS ACCESS TO AN IN-KIND GRANT OF SERVICES AND RESOURCES PROCURED BY RETHINK IOWA LLC, NOT TO EXCEED 2,500 FMV.
BLACK CAPITAL STUDY + PROJECTS - THE BLACK CAPTIAL STUDY + PROJECTS (BCS+P) CONSISTS OF 18+ ACTIVE PROJECTS IN SERVICE OF BUILDING CAPACITY FOR TRADITIONAL MONETARY CAPITAL ACCESS AS WELL AS NON-MONETARY TYPES OF CAPITAL FOR AN INCLUSIVE ENTREPRENEURIAL ECOSYSTEM IN AND CONNECTED TO WATERLOO, IOWA. EACH PROJECT DEMONSTRATES A COMMITMENT TO FOUR COMPONENTS: A) EVOLVING CURRICULUM/TECHNICAL SKILL DEVELOPMENT; B) RESPONSIVE PROGRAM DELIVERY; 3) RIGOROUS RESEARCH AND 4) TRUSTWORTHY COMMUNICATION. THANKS TO GRANT FUNDS INVESTED BY THE EWING MARION KAUFFMAN FOUNDATION, AND DONATIONS OF IN-KIND SERVICES AND SUPPORT FROM THE UNIVERSITY OF NORTHERN IOWA - JOHN PAPPAJOHN ENTREPRENEURIAL CENTER THIS 3-YEAR RESEARCH STUDY WILL PUBLISH ITS FINDINGS IN OR ABOUT JULY 2025 FOR INCLUSIVE ECOSYSTEMS TO THRIVE AROUND THE WORLD.. LEARN MORE - HTTPS://WWW.BLACKCAPITALSTUDY.ORG.
SHOP BLACK IOWA - A CURATED E-COMMERCE MARKETPLACE FOR HISTORICALLY DISENFRANCHISED SMALL BUSINESSES IN IOWA THAT ALLOWS CUSTOMERS FROM IOWA AND OTHER STATES TO PURCHASE GOODS AND SERVICES THAT SHOWCASE IOWA'S DIVERSE ECONOMY. ANY SMALL BUSINESS THAT IS AT LEAST 51% OWNED BY ONE OR MORE INDIVIDUALS WHO HAVE BEEN HISTORICALLY SUBJECTED TO RACIAL OR ETHNIC PREJUDICES OR CULTURAL BIASES WITHIN THE LARGER AMERICAN CULTURE HAVE ACCESS TO A TRUSTED E-COMMERCE MARKETPLACE AND RESOURCES THAT IS A DESTINATION FOR ALL. SUCCESS IS MEASURED BY THE NUMBER OF BUSINESSES REGISTERED TO SELL ON THE ONLINE PLATFORM, THE NUMBER OF ITEMS THEY PUBLISH FOR E-COMMERCE, AND ACCUMULATED CAPACITY BUILDING SUPPORT / OUTREACH ENGAGEMENTS. THANKS TO DONATIONS OF IN-KIND SUPPORT FROM MEMBER MARKETPLACE INC. AND LOCAL SPONSORS, THE ONLINE MARKETPLACE REGISTRATION AND COSTS ARE SUBSIDIZED FOR THE FIRST 100 BUSINESSES THAT REGISTER FOR THE PLATFORM. CURRENTLY THERE ARE MORE THAN 40 BUSINESSES REGISTERED. LEARN MORE - HTTPS://RETHINKIOWA.SHOPWHEREILIVE.COM/
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Matthew Gilbert President | OfficerTrustee | 10 | $0 |
Lu Spain VP & Secreta | OfficerTrustee | 5 | $0 |
Terrence Thames Treasurer | OfficerTrustee | 5 | $0 |
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 | $160,000 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $160,000 |
Total Program Service Revenue | $8,000 |
Investment income | $0 |
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 | $168,000 |
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. | $0 |
Compensation of current officers, directors, key employees. | $0 |
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 | $0 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
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 | $0 |
All other expenses | $0 |
Total functional expenses | $8,897 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $172,564 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $2,068 |
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 | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $535 |
Total assets | $175,167 |
Accounts payable and accrued expenses | $0 |
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 | $0 |
Other liabilities | $0 |
Total liabilities | $0 |
Net assets without donor restrictions | $175,167 |
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 | $175,167 |