Sb Works
- Assets
- $472.8k
- Revenue
- $669.1k
- Investments
- $0.0
- Employees
- 5
- Location
- Washington, DC
- Founding
- 08/2015
- Data as of
- 12/2022
- EIN
- 47-3838493
Organization Overview
Sb Works is located in Washington, DC. The organization was established in 2015. According to its NTEE Classification (S19) the organization is classified as: Support N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Sb Works employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sb Works 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 12/2022, Sb Works generated $669.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.5% each year . All expenses for the organization totaled $507.3k during the year ending 12/2022. While expenses have increased by 11.1% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ECONOMIC DEVELOPMENT AND JOB CREATION IN UNDERSERVED COMMUNITIES IN THE GREATER WASHINGTON DC AREA BY UTILIZING INNOVATIVE APPROACHES IN BUSINESS TRAINING AND INCUBATION SETTING
Describe the Organization's Program Activity:
Part 3 - Line 4a
OVER THIS CALENDAR YEAR (SPANNING TWO PROGRAM FISCAL YEARS STARTING 10/1/21-9-30/22 AND THEN NEXT) ASSISTED ROUGHLY 140 SMALL BUSINESS CLIENTS PREDOMINATELY SERVING LOW AND MODERATE INCOME AREAS OF THE DISTRICT OF COLUMBIA. WORK WAS PRIMARILY ONE ON ONE SMALL BUSINESS CONSULTING AND DEVELOPMENT, SMALL INTERACTIVE CLASSES AND TRAININGS, AND SUBSIDIZED THIRD PARTY CONSULTANTS ON SPECIALTY SUBJECTS. TYPICAL CLIENT RECEIVED 9-15 HOURS OF ASSISTANCE FOR THEIR BUSINESS IN SOME FORM, AND WORK WAS PERFORMED BY A MIX OF SALARIED STAFF, AND INDEPENDENT CONTRACTORS. PROGRAM WAS PRIMARILY FUNDED BY LOCAL DISTRICT GRANTS.
APPROXIMATELY 40 SMALL BUSINESSES LOCATED IN LOW AND MODERATE INCOME RECEIVED SUBSIDIZED STOREFRONT AND FAADE IMPROVEMENT PROGRAMS WITH PAID STAFF/CONSULTANTS HANDLING THE PROCESS FROM DESIGN TO PERMITTING ETC. CLIENT BUSINESSES AVERAGED 5,000-20,000 OF DEDICATED CONSULTANTS WORTH OF ASSISTANCE. GRANT FUNDING WAS THE MAJOR SOURCE OF REVENUE FOR THIS PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cristine Davis Outreach Coordinator | Officer | 5 | $28,761 |
John Mains Executive Director | 40 | $86,700 | |
Thomas Litke Grants Manager | Officer | 40 | $76,500 |
Bill Mcleod Board Of Directors Treasurer | Trustee | 1 | $0 |
Chris Van Orden Subject Specialist | Officer | 8 | $25,519 |
Morgan Zehner Board Of Directors President | Trustee | 8 | $2,400 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $668,212 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $668,212 |
| Total Program Service Revenue | $846 |
| 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 | $669,058 |
| 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 | $231,653 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $19,562 |
| Fees for services: Management | $79,378 |
| Fees for services: Legal | $17,100 |
| Fees for services: Accounting | $40,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $43,950 |
| Advertising and promotion | $30,300 |
| Office expenses | $1,008 |
| Information technology | $4,077 |
| Royalties | $0 |
| Occupancy | $22,750 |
| Travel | $250 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,280 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,232 |
| All other expenses | $6,774 |
| Total functional expenses | $507,314 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,692 |
| Savings and temporary cash investments | $125,426 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $293,882 |
| 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 | $1,750 |
| Total assets | $472,750 |
| 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 | $472,750 |
| 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 | $472,750 |