Bronze Valley Corp
- Assets
- $2.6m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Birmingham, AL
- Founding
- 10/2016
- Data as of
- 12/2021
- EIN
- 81-1426667
Organization Overview
Bronze Valley Corp is located in Birmingham, AL. The organization was established in 2016. According to its NTEE Classification (S30) the organization is classified as: Economic Development, 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. Bronze Valley Corp is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Bronze Valley Corp generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 29.5% each year . All expenses for the organization totaled $777.1k during the year ending 12/2021. 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
BRONZE VALLEY'S PRIMARY MISSION IS TO PROMOTE COMMUNITY DEVELOPMENT AND ECONOMIC GROWTH THAT BENEFITS ITS TARGETED GROUP (MINORITY AND FEMALE ENTREPRENEURS) BY PROVIDING VENTURE CAPITAL TO EARLY STAGE COMPANIES, OFFERING DEVELOPMENTAL SERVICES INCLUDING ENTREPRENEURIAL MENTORSHIP AND COACHING, AND PROMOTING DIVERSITY AND INCLUSION IN THE FIELD OF TECHNOLOGY THROUGH CONFERENCES AND SPONSORED EVENTS IN THE AREA IT SERVES (PRIMARILY THE SOUTHEAST).
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021, BRONZE VALLEY INVESTED IN SIX EARLY-STAGE TECHNOLOGY COMPANIES, ALL FOUNDED BY PEOPLE OF COLOR OR WOMEN. THE SIX INVESTMENTS EXPANDED BRONZE VALLEY'S PORTFOLIO TO SIXTEEN COMPANIES COVERING THE SOUTHEAST, MID-ATLANTIC, AND MIDWEST REGIONS OF THE COUNTRY. BRONZE VALLEY DEVELOPED AN ACCELERATOR DESIGNED TO FURTHER SUPPORT ITS PORTOLIO COMPANIES AND/OR POTENTIAL INVESTMENT OPPORTUNITIES. THE ACCELERATOR INCLUDES PROGRAMMING FOR A UNIVERSITY TRACK CALLED GALPHA FOR HBCUS AND A COMPANY TRACK CALLED GBETA FOR WOMEN AND ENTREPRENEURS OF COLOR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John O Hudson III Board Chairman | Officer | 1 | $0 |
Neill S Wright Board President | Officer | 1 | $0 |
April Benetollo Board Member | Trustee | 1 | $0 |
Herschell Hamilton Board Member | Trustee | 1 | $0 |
Brian Hamilton Board Member | Trustee | 1 | $0 |
Greg Barker Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $637,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $462,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,099,500 |
| Total Program Service Revenue | $0 |
| Investment income | $25,907 |
| 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 | $1,125,407 |
| 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 | $65,200 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $252,500 |
| Fees for services: Legal | $1,313 |
| Fees for services: Accounting | $17,145 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $31,270 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $33,655 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,506 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37 |
| Interest | $7,737 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $569 |
| All other expenses | $688 |
| Total functional expenses | $777,083 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,048,088 |
| 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 | $1,541,342 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,589,430 |
| Accounts payable and accrued expenses | $34,938 |
| 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 | $444,913 |
| Other liabilities | $0 |
| Total liabilities | $479,851 |
| Net assets without donor restrictions | $0 |
| 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 | $2,109,579 |
| Total liabilities and net assets/fund balances | $2,589,430 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bronze Valley Corp has recieved totaling $200,000.
| Awarding Organization | Amount |
|---|---|
Appalachian Community Capital Development Foundation Christiansburg, VA PURPOSE: EMERGENCY BUSINESS RELIEF | $200,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern Mississippi Planning And Development District Inc Gulfport, MS | $44,385,657 | $33,837,059 |
Metro Atlanta Host Committee Inc Atlanta, GA | $222,399 | $14,582,853 |
Tampa Bay Convention & Visitors Bureau Inc Tampa, FL | $9,049,029 | $16,723,785 |
South Alabama Regional Planning Commission Mobile, AL | $10,162,715 | $18,722,811 |
Discover Palm Beach County Inc West Palm Beach, FL | $6,257,115 | $17,672,568 |
Step Up Suncoast Inc Sarasota, FL | $3,209,226 | $16,919,808 |
Atlanta Convention & Vistors Bureau Inc Atlanta, GA | $20,280,984 | $17,066,911 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Riverfront Development Corporation Memphis, TN | $39,591,502 | $20,233,137 |
Chattanooga Area Convention And Visitors Bureau Inc Chattanooga, TN | $6,892,228 | $12,124,566 |
East Central Planning & Development District Inc<410 Decatur St Newton, MS | $22,970,956 | $8,929,943 |