Black Business Community Development Corporation Inc
- Assets
- $2.2m
- Revenue
- $680.9k
- Investments
- $0.0
- Employees
- 1
- Location
- Orlando, FL
- Founding
- 08/1994
- Data as of
- 09/2023
- EIN
- 59-3179911
Organization Overview
Black Business Community Development Corporation Inc 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 Community Development Corporation Inc 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 09/2023, Black Business Community Development Corporation Inc generated $680.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.2% each year . All expenses for the organization totaled $2.8m during the year ending 09/2023. 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 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, PROVIDED CRITICAL FINANCIAL TECHNICAL ASSISTANCE SERVICES TO BLACK, MINORITY AND OTHER UNDERSERVED SMALL BUSINESSES THROUGHOUT FLORIDA. IN FY 2022-2023, BBCDC WAS INTENTIONAL IN PROVIDING FINANCIAL LITERACY AND EDUCATIONAL WORKSHOPS THAT EQUIPPED BUSINESS OWNERS WITH THE NECESSARY TOOLS AND KNOWLEDGE TO NAVIGATE AND CAPITALIZE ON CURRENT ECONOMIC OPPORTUNITIES. THESE BUSINESSES RECEIVED 917 TRAINING HOURS AND 499 TRAINING SESSIONS. THROUGH ONGOING CHARITABLE SUPPORT, BBCDC IS POISED FOR GREATER IMPACT IN THE SOUTHEAST REGION. A JOINT EFFORT WITH ITS AFFILIATE BBIF WILL ENHANCE BBCDC'S ABILITY TO OFFER LOCALIZED FINANCIAL ASSISTANCE, FOSTERING AN ENVIROMENT WHERE MORE BUSINESSES CAN PROSPER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Inez Long Director | Trustee | 8 | $0 |
Oranie Reed Vice President Of Finance | 0 | $0 | |
Duane Lewis Executive Director | OfficerTrustee | 8 | $0 |
Jasmine Gebon V.P. Strategic Initiatives | 0 | $0 | |
Donna Dingle Director Of Compliance | 0 | $0 | |
Lawrence Chukwu Director | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $307,432 |
| All other contributions, gifts, grants, and similar amounts not included above | $371,994 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $679,426 |
| Total Program Service Revenue | $0 |
| Investment income | $1,493 |
| 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 | $680,919 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,000,500 |
| 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 | $88,261 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,445 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $56,213 |
| Fees for services: Accounting | $15,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,313 |
| Office expenses | $17,847 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,830 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,708 |
| Interest | $9,285 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $735 |
| Insurance | $6,553 |
| All other expenses | $0 |
| Total functional expenses | $2,848,216 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $540,640 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,250 |
| 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 | $1,619,015 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $61,830 |
| Total assets | $2,237,735 |
| Accounts payable and accrued expenses | $30,778 |
| 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 | $429,642 |
| Other liabilities | $1,450 |
| Total liabilities | $461,870 |
| Net assets without donor restrictions | $1,722,607 |
| Net assets with donor restrictions | $53,258 |
| 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 | $2,237,735 |
Grants Awarded
Over the last fiscal year, Black Business Community Development Corporation Inc has awarded $5,227,108 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
BLACK BUSINESS INVESTMENT FD C FL PURPOSE: Technical Assiatance to Businesses | $5,200,000 |
AFRICAN AMERICAN CHAMBER OF COMMERCE PURPOSE: TO PROMOTE AFRICAN AMERICAN BUSINESSES | $13,554 |
CENTRAL FLORIDA URBAN LEAGUE PURPOSE: SPONSORSHIP FUNGING | $13,554 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Neighborhood Housing Services Of South Florida Inc Miami, FL | $4,331,809 | $4,319,174 |
Black Business Community Development Corporation Inc Orlando, FL | $2,237,735 | $680,919 |
Tallahassee Lenders Consortium Inc Tallahassee, FL | $2,011,170 | $2,455,271 |
Neighborhood Housing And Development Corporation Gainesville, FL | $7,797,721 | $2,203,372 |
Heating Energy Assistance Team Inc Smyrna, GA | $1,444,317 | $1,256,297 |
Annabels Closet Inc Oviedo, FL | $99,753 | $0 |
Presbyterian Community Ministry Inc Auburn, AL | $430,930 | $196,828 |
Share Credit Corp St Simons Island, GA | $1,994,124 | $83,240 |
Home Buying Assistance Foundation Tamarac, FL | $5,125 | $0 |
Senior Citizens Housing Development Corporation Of Fontana Plantation, FL | $13,331,099 | $0 |