Black Business Capital Financing Corporation
- Assets
- $2.4m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Orlando, FL
- Founding
- 08/1994
- Data as of
- 09/2021
- EIN
- 59-3179911
Organization Overview
Black Business Capital Financing Corporation is located in Orlando, FL. The organization was established in 1994. According to its NTEE Classification (L82) the organization is classified as: Housing Expense Reduction Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Black Business Capital Financing Corporation 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 09/2021, Black Business Capital Financing Corporation generated $4.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 62.3% each year . All expenses for the organization totaled $5.3m during the year ending 09/2021. 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
THE DEVELOPMENT OF AFRICAN AMERICAN BUSINESSES; THE ASSISTANCE TO THE DEVELOPMENT OF SMALL, MINORITY AND WOMAN-OWNED BUSINESSES REGARDLESS OF RACE, ETHNICITY AND GENDER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BBCDC CONTRIBUTED TO PROVING FINANCIAL TECHNICAL ASSISTANCE SERVICES TO BLACK, MINORITY AND UNDERSERVED SMALL BUSINESSES THROUGHOUT FLORIDA. THE HOSTED SESSIONS OFFERED CRITICAL SUPPORT TO MANY BLACK AND ETHNIC MINORITY BUSINESSES CONTINUING TO REBOUND FROM THE ECONOMIC AND OPERATIONAL CHALLENGES POSED BY THE COVID-19 PANDEMIC. BBCDC OFFERED FINANCIAL LITERACY AND EDUCATIONAL WORKSHOPS THAT HELPED POSITION THESE BUSINESSES FOR SUCCESS IN THE COMING YEARS. THE TECHNICAL ASSISTANCE SERVICES ASSESTED OVER 220 BUSINESSES THROUGH A SPECIALIZED, VERTUAL FINANCIAL TECHNICAL ASSISTANCE PROGRAM THAT REACHED 4,030 BUSINESS OWNERS AND PROFESSIONALS THOUGH A JOINT OUTREACH AND EVENTS WITH ITS AFFILIATE BBIF. THROUGH ONGING CHARITABLE DONATIONS, BBCDC IS POISED FOR GREAT IMPACT IN THE SOUTHEAST REGION THROGH JOINT EFFORT WITH BBIF TO PROVIDE LOCAL FINANCIAL TECHNICAL ASSISTANCE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lawrence Chukwu Director | OfficerTrustee | 3 | $0 |
Fozia Andarge Director | OfficerTrustee | 3 | $0 |
Susan Brosch Director | OfficerTrustee | 3 | $0 |
Kimberly Robinson Director | OfficerTrustee | 3 | $0 |
Inez Long CEO | Officer | 8 | $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 | $4,102,775 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,102,775 |
| Total Program Service Revenue | $0 |
| 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 | $4,102,775 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,227,108 |
| 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 | $9,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,172 |
| 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 | $10,713 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,854 |
| All other expenses | $0 |
| Total functional expenses | $5,286,471 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $751,195 |
| 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 | $1,612,399 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,400 |
| Total assets | $2,368,994 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $20,000 |
| 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 | $497,589 |
| Other liabilities | $204,811 |
| Total liabilities | $722,400 |
| Net assets without donor restrictions | $1,573,482 |
| Net assets with donor restrictions | $73,112 |
| 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 | $2,368,994 |
Grants Awarded
Over the last fiscal year, Black Business Capital Financing Corporation has awarded $5,227,108 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Orlando, FL PURPOSE: Technical Assiatance to Businesses | $5,200,000 |
Orlando, FL PURPOSE: TO PROMOTE AFRICAN AMERICAN BUSINESSES | $13,554 |
Orlando, FL PURPOSE: SPONSORSHIP FUNGING | $13,554 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Black Business Capital Financing Corporation has recieved totaling $405,000.
| Awarding Organization | Amount |
|---|---|
Prosperity Now Washington, DC PURPOSE: TO PROMOTE THE ORGANIZATION'S MISSION & EXPAND ITS REACH TO THE UNDERSERVED POPULATION | $375,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Black Business Capital Financing Corporation Orlando, FL | $2,368,994 | $4,102,775 |
Neighborhood Housing Services Of South Florida Inc Miami, FL | $3,823,454 | $2,936,534 |
Tallahassee Lenders Consortium Inc Tallahassee, FL | $2,335,022 | $1,031,259 |
Neighborhood Housing And Development Corporation Gainesville, FL | $6,914,006 | $1,650,603 |
Heating Energy Assistance Team Inc Smyrna, GA | $1,435,570 | $1,363,799 |
Presbyterian Community Ministry Inc Auburn, AL | $372,932 | $0 |
Share Credit Corp St Simons Island, GA | $1,942,550 | $101,176 |
Home Buying Assistance Foundation Tamarac, FL | $5,125 | $0 |
Senior Citizens Housing Development Corporation Of Fontana Plantation, FL | $13,331,099 | $0 |