Black Business Alliance Inc
- Assets
- $167.5k
- Revenue
- $695.8k
- Investments
- $0.0
- Employees
- 6
- Location
- New Haven, CT
- Founding
- 03/2016
- Data as of
- 12/2023
- EIN
- 47-5102290
Organization Overview
Black Business Alliance Inc is located in New Haven, CT. The organization was established in 2016. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Black Business Alliance Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Black Business Alliance Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Black Business Alliance Inc generated $695.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 23.2% each year . All expenses for the organization totaled $836.8k during the year ending 12/2023. While expenses have increased by 32.8% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION SEEKS TO ACT AS A PRIMARY COLLABORATIVE ENTITY FOR LOCAL AND STATEWIDE BLACK AND MINORITY BUSINESSES TO CREATE A CULTURE OF MINI ECOSYSTEMS TO BUILD SELF-WORTH, CAPACITY BUILDING AND COMMUNITY INCLUSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED OUTREACH AND SUPPORT SERVICES TO ACCESS CAPITAL FOR MINORITY BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Willie Mcbride Secretary | Trustee | 1 | $0 |
Douglas Burke Treasurer | Trustee | 5 | $0 |
Larry Stewart President | Officer | 5 | $0 |
Anne-Marie Brungard-Knight Executive Director | 40 | $137,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $6,152 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $627,742 |
| All other contributions, gifts, grants, and similar amounts not included above | $60,941 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $694,835 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,000 |
| 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 | $695,835 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $121,860 |
| 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 | $276,516 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,706 |
| Payroll taxes | $27,979 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,742 |
| Fees for services: Accounting | $19,775 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $26,633 |
| Office expenses | $6,753 |
| Information technology | $2,562 |
| Royalties | $0 |
| Occupancy | $12,600 |
| Travel | $13,056 |
| 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 | $6,560 |
| All other expenses | $30,847 |
| Total functional expenses | $836,824 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $83,003 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $83,500 |
| 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 | $1,000 |
| Total assets | $167,503 |
| Accounts payable and accrued expenses | $45,185 |
| 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 | $150,000 |
| Other liabilities | $4,372 |
| Total liabilities | $199,557 |
| Net assets without donor restrictions | -$32,054 |
| 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 | $167,503 |
Grants Awarded
Over the last fiscal year, Black Business Alliance Inc has awarded $92,625 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
ITAL JUICERY PURPOSE: PROVIDE CAPITAL FOR MINORITY BUSINESS. | $17,875 |
BLACC BOTTLE LLC PURPOSE: PROVIDE CAPITAL FOR MINORITY BUSINESS. | $9,000 |
MERCY PEDIATRICS PURPOSE: PROVIDE CAPITAL FOR MINORITY BUSINESS. | $27,875 |
CHERIE GRIFFITH DUNN LLC PURPOSE: PROVIDE CAPITAL FOR MINORITY BUSINESS. | $37,875 |