Black Brand is located in Norfolk, VA. The organization was established in 2016. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Black Brand employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Black Brand 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 12/2023, Black Brand generated $1.3m in total revenue. All expenses for the organization totaled $1.4m during the year ending 12/2023. While expenses have increased by 85.3% 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
"BRAND" STANDS FOR BUSINESS RESEARCH ANALYTICS NETWORKING AND DEVELOPMENT. BLACK BRAND IS THE BLACK CHAMBER OF COMMERCE FOR THE HAMPTON ROADS, VA AREA, WHOSE MISSION IS TO PROMOTE GROUP ECONOMICS THROUGH PROFESSIONAL DEVELOPMENT AND COMMUNITY EMPOWERMENT. AS THE BLACK CHAMBER OF COMMERCE, ORGANIZATION'S MISSION IS TO TRANSFORM OUR LOCAL, REGIONAL, AND NATIONAL COMMUNITY THROUGH UNITY, EDUCATION, ACCESS, OPPORTUNITY, AND DEVELOPMENT. DURING 2023 71% OF PARTICIPANTS WERE WOMEN-OWNED BUSINESSES, 40% OF PROGRAM PARTICIPANTS RESIDED IN LOW OR MODERATE INCOME ZIP CODES, AND 20% OF PROGRAM PARTICIPANTS WERE MILITARY AFFILIATED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023, B-FORCE ACCELERATOR NURTURED 140 BUSINESSES, MANY OF WHOM ARE PROVIDING CRITICAL SERVICE IN HAMPTON ROADS EVERY DAY. IN ADDITION TO THE TECHNICAL ASSISTANCE PROVIDED, BUSINESS OWNERS BENEFITED IN THE FOLLOWING IMPORTANT WAYS: 1. B-FORCE ACCELERATOR AWARDED 71,000 IN FUNDING TO 20 PROGRAM PARTICIPANTS. 2. 65 B-FORCE PARTICIPANTS REPORTED HAVING ACCESSED A TOTAL OF 1,650,794 IN CAPITAL. 3. B-FORCE ACCELERATOR EXPANDED ITS SERVICE AREA TO ACCEPT BUSINESSES ACROSS THE HAMPTON ROADS REGION, AND PARTNERED WITH THE CITY OF PORTSMOUTH ECONOMIC DEVELOPMENT TO ENSURE THAT ALL PORTSMOUTH COHORT PROGRAM GRADUATES WOULD QUALIFY TO RECEIVE ITS 2000 AND/OR 5000 GRANT. 4. BLACK BRAND CURATED A POPUP EVENT FOR EACH OF ITS FIVE COHORTS WHEREBY THE COMMUNITY COULD COME OUT, LEARN ABOUT AND SHOP WITH LOCAL MERCHANTS. 5. BLACK BRAND ORGANIZED A SUCCESSFUL CASH MOB EVENT FOR ONE DESERVING BUSINESS DURING EACH COHORT WHERE THE ENTIRE COHORT COMMITTED TO COMING OUT, BRINGING A FRIEND, AND SPENDING AT LEAST 20. 6. BLACK BRAND PROVIDED COLLABORATION OPPORTUNITIES FOR PARTICIPANTS WHICH TURNED INTO A NUMBER OF SUCCESSFUL COLLABORATIONS AND JOINT VENTURES. 7. BLACK BRAND WORKED ONE ON ONE WITH BUSINESSES NOT ONLY TO PREPARE THEM BUT TO CURATE CAPITAL OPPORTUNITIES FOR THEM BASED ON THEIR UNIQUE PROFILES, RESULTING IN A NUMBER OF BUSINESSES RECEIVING THEIR FIRST EVER CAPITAL OPPORTUNITIES IN THE FORM OF GRANTS, BUSINESS CREDIT CARDS, LINES OF CREDIT, AND PITCH CONTEST WINNINGS FROM ACROSS THE REGION. WOMEN WHO LEAD IS A 12-WEEK PROFESSIONAL DEVELOPMENT ACCELERATOR THAT HELPS MINORITY WOMEN (PRIORITIZING LMI CANDIDATES) IMPROVE THEIR LEADERSHIP SKILLS, ACCESS TRADITIONALLY MALE-DOMINATED INDUSTRIES, AND GAIN CERTIFICATIONS TO OBTAIN HIGHER PAYING WAGES OR ACCESS TO CONTRACT OPPORTUNITIES. IN PARTNERSHIP WITH NSU, PARTICIPANTS ARE EXPOSED TO 58 SUBJECT-MATTER EXPERTS. 75% OF PARTICIPANTS MATRICULATED INTO WWL SOCIETY FOR ONGOING PROFESSIONAL DEVELOPMENT. 15% OF PARTICIPANTS INCREASED THEIR PAY DURING OR AFTER THE 12-WEEK COHORT. 20% OF COHORT MEMBERS TOOK CLASSES TO OBTAIN CERTIFICATION. 30% OF PARTICIPANTS OBTAINED COMMUNITY-BASED LEADERSHIP POSITIONS. 10% OF PARTICIPANTS MATRICULATED INTO OTHER PERSONAL OR PROFESSIONAL DEVELOPMENT PROGRAMS. BLACK DIAMOND WEEKEND 2023 EXPANDED ITS OFFERING TO CREATE A FREE TRACK CALLED 757 BIAS WHICH INCLUDED AN OPPORTUNITY FAIR AND AFFIRMATIVE ACTION TOWN HALL, INTRODUCING PARTICIPANTS TO THE INVALUABLE RESOURCES THAT EXIST ACROSS THE HAMPTON ROADS REGION. IN ADDITION TO FOUR OTHER VALUE-PACKED TRACKS, PARTICIPANTS WERE GIVEN THE OPPORTUNITY TO EARN CEUS THROUGH TCC FOR THE COURSES TAKEN. THE 8TH ANNUAL BLACK DIAMOND AFFAIR AWARDED KEY LEADERS IN THE FOLLOWING CATEGORIES: EXCELLENCE IN INNOVATION: MICHELLE WREN- PORTSMOUTH PARTNERSHIP LIFETIME ACHIEVEMENT IN BUSINESS: DR. KEITH NEWBY - FORT NORFOLK MEDICAL PLAZA COMMUNITY IMPACT: TRUIST ENTREPRENEUR OF THE YEAR: DIAMOND GORMAN- REA-D EMPLOYMENT AGENCY, LLC EXCELLENCE IN NONPROFIT LEADERSHIP: ANTHONY WALTERS - YMCA EXCELLENCE IN BUSINESS LEADERSHIP - NNEKA CHIAZOR- COX COMMUNICATIONS EXCELLENCE IN HEALTH EQUITY- DANA BECKTON - SENTARA HEALTH EXCELLENCE IN PUBLIC RELATIONS- KELLI WEBB- KBD GROUP LLC EXCELLENCE IN ENTERTAINMENT- TONY BROTHERS- BROTHERS RESTAURANT BDW 2023 FEATURED 70+ HOURS OF CONTENT, 75 SPEAKERS ACROSS 3 DAYS, 451 PARTICIPANTS, 1 GRANT GIVEN TO BLACK HEALTH-INDUSTRY BUSINESS, AND 9 COMMUNITY BLACK DIAMOND AWARDS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Blair Durham Executive Di | OfficerTrustee | 40 | $98,541 |
Lafayette Judkins Chair | OfficerTrustee | 1 | $0 |
Dr Genese Rogers CPA Treasurer | OfficerTrustee | 1 | $31,000 |
Randy Williams Secretary | OfficerTrustee | 1 | $0 |
Naomi Lewis Parliamentar | OfficerTrustee | 1 | $0 |
Clarence Harris CPA Director | Trustee | 1 | $6,546 |
Statement of Revenue | |
---|---|
Federated campaigns | $151,500 |
Membership dues | $153,849 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $71,475 |
All other contributions, gifts, grants, and similar amounts not included above | $394,849 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $771,673 |
Total Program Service Revenue | $538,540 |
Investment income | $319 |
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 | $1,311,900 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $101,350 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $139,137 |
Compensation of current officers, directors, key employees. | $12,954 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $200,908 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $22,049 |
Fees for services: Management | $0 |
Fees for services: Legal | $25,855 |
Fees for services: Accounting | $7,250 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $289,630 |
Advertising and promotion | $124,256 |
Office expenses | $21,864 |
Information technology | $17,587 |
Royalties | $0 |
Occupancy | $17,734 |
Travel | $4,166 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $382,987 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $1,481 |
Insurance | $1,844 |
All other expenses | $3,595 |
Total functional expenses | $1,416,862 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $146,883 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $93,442 |
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 | $4,718 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $245,043 |
Accounts payable and accrued expenses | $36,033 |
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 | $36,033 |
Net assets without donor restrictions | $82,779 |
Net assets with donor restrictions | $126,231 |
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 | $245,043 |