Birmingham Business Alliance Foundation
- Assets
- $83.1k
- Revenue
- $4.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Birmingham, AL
- Founding
- 11/1989
- Data as of
- 12/2022
- EIN
- 57-0892546
Organization Overview
Birmingham Business Alliance Foundation is located in Birmingham, AL. The organization was established in 1989. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, 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. Birmingham Business Alliance Foundation 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, Birmingham Business Alliance Foundation generated $4.6m in total revenue. All expenses for the organization totaled $4.1m during the year ending 12/2022. While expenses have increased by 139.5% per year over the past 8 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
TO PROMOTE BUSINESS AND COMMERCE AND TO FURTHER EDUCATIONAL ENDEAVORS IN THE BIRMINGHAM, ALABAMA REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES SCHOLARSHIPS TO STUDENTS THROUGH ITS MAGIC CITY HBCU SCHOLARSHIP PROGRAM. A TOTAL OF SIX SCHOLARSHIPS WERE AWARDED IN 2022.
PROSPER BIRMINGHAM SEEKS TO 1) CONNECT CORPORATE, CIVIC, AND COMMUNITY LEADERS TO UNDERSTAND ISSUES AND INCREASE EQUITABLE ECONOMIC GROWTH, 2) ADVANCE INCLUSIVE, LONG-TERM ECONOMIC STRATEGIES THAT ACHIEVE ECONOMIC POTENTIAL AS ONE COMMUNITY, AND 3) FUEL PRIORITY INITIATIVES THROUGH PRIVATE, PUBLIC, AND PHILANTHROPIC SOURCES TO GENERATE CHANGE. THE FOUNDATION'S INTEREST IN THE WHOLLY OWNED SUBSIDIARY CARRYING OUT THIS PROGRAM WAS TRANSFERRED OUT ON DECEMBER 31, 2022.
THE BIRMINGHAM BUSINESS ALLIANCE FOUNDATION'S COMPETITIVENESS INITIATIVES EXPLORE AND IDENTIFY NICHE INDUSTRIES THAT CAN BE COMPETITIVE AND GROW JOBS WITHIN THE BIRMINGHAM REGION. THE BBAF ACHIEVES THIS OBJECTIVE BY FUNDING SPECIAL PROJECTS AND RESEARCH INITIATIVES, SUCH AS A HEALTH CARE MARKET INTELLIGENCE AND IMPLEMENTATION PLAN WITH REGIONAL ECONOMIC DEVELOPERS, FUNDED BY THE ECONOMIC DEVELOPMENT ADMINISTRATION (EDA).
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Tarr Director | Trustee | 0.1 | $0 |
Gregory S Curran Director, Chairperson | Trustee | 0.1 | $0 |
Joe Hampton Director | Trustee | 0.1 | $0 |
Bingham D Edwards Jr Vice President & Secretary | Officer | 0.1 | $0 |
Emily Jerkins President | Officer | 0.1 | $0 |
Ron Kitchens President (former) | Officer | 0.1 | $0 |
Financial Statements
| 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 | $4,567,397 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,567,397 |
| Total Program Service Revenue | $0 |
| Investment income | $4,819 |
| 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 | $4,572,216 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,130,538 |
| 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. | $231,300 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $203,708 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $16,994 |
| Payroll taxes | $60,763 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $102,238 |
| Fees for services: Accounting | $32,502 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $827,578 |
| Advertising and promotion | $64,385 |
| Office expenses | $9,633 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $84,913 |
| Travel | $3,829 |
| 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 | $4,995 |
| All other expenses | $0 |
| Total functional expenses | $4,106,583 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $83,072 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Total assets | $83,072 |
| 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 | $83,072 |
| 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 | $83,072 |
Grants Awarded
Over the last fiscal year, Birmingham Business Alliance Foundation has awarded $2,121,335 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
REV BIRMINGHAM INC PURPOSE: The Foundation provided a grant to Rev Birmingham, Inc. for expenses incurred in connection with the charitable activities of Rev Birmingham, Inc. | $515,000 |
URBAN IMPACT INC PURPOSE: The Foundation provided a grant to Urban Impact, Inc. for expenses incurred in connection with the charitable activities of Urban Impact, Inc. | $12,500 |
UAB PURPOSE: The Foundation provided a grant to UAB for expenses incurred in connection with the charitable activities of UAB. | $300,000 |
IGNITE ALABAMA PURPOSE: The Foundation provided a grant to Ignite Alabama for expenses incurred in connection with the charitable activities of Ignite Alabama. | $12,000 |
BIRMINGHAM BUSINESS ALLIANCE PURPOSE: The Foundation provided a grant to reimburse the Birmingham Business Alliance for expenses paid related to the Business Advisory Services program. | $281,835 |
BIRMINGHAM PROMISE PURPOSE: The Foundation provided a grant to Birmingham Promise for expenses incurred in connection with the charitable activities of Birmingham Promise. | $1,000,000 |