Black And Brown Founders Inc
- Assets
- $450.2k
- Revenue
- $510.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Lafayette, CA
- Founding
- 09/2017
- Data as of
- 12/2023
- EIN
- 82-2187440
Organization Overview
Black And Brown Founders Inc is located in Lafayette, CA. The organization was established in 2017. According to its NTEE Classification (B01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Education and related organizations. As of 12/2023, Black And Brown Founders Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Black And Brown Founders 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 12/2023, Black And Brown Founders Inc generated $510.2k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $745.3k during the year ending 12/2023. 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
WE EMPOWER BLACK AND LATINX ENTREPRENEURS BY PROVIDING THEM WITH RESOURCES, EDUCATION, AND TECHNOLOGY TO BUILD THRIVING BUSINESSES. OUR PROGRAMS CATER TO FOUNDERS OF COLOR ALL INDUSTRIES, EQUIPPING THEM WITH BEST PRACTICES AND TECHNICAL ASSISTANCE TO ENHANCE THEIR ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN RESPONSE TO THE NEED FOR CHANGE AND THE UNSAFE ENVIRONMENT FOR BLACK AND LATINX INDIVIDUALS, OUR ORGANIZATION AIMS TO USE TECHNOLOGY AND ENTREPRENEURSHIP AS A MEANS TO CLOSE THE WEALTH GAP AND EMPOWER FOUNDERS IN THESE COMMUNITIES. WE HAVE DEVELOPED A VIRTUAL TRAINING PROGRAM THAT UNLOCKS THEIR UNIQUE TALENTS, PROVIDING STARTUP SUPPORT, GROWTH OPPORTUNITIES, AND SUSTAINABILITY WITHIN A TEN-WEEK PERIOD. THE PROGRAM INCLUDES VIDEO LESSONS, LIVE COACHING, A SUPPORTIVE COMMUNITY, AND ESSENTIAL TOOLS, AND HAS BEEN SUCCESSFULLY UTILIZED BY MULTIPLE SPONSORS IN 2021 AND 2022. ADDITIONALLY, WE HAVE PROVIDED TECHNICAL ASSISTANCE TO OVER 50 BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dannica M Smith Vise President | Trustee | 1 | $0 |
Chad Womack Treasurer | Officer | 1 | $0 |
Valerie M Farnum Secretary | Officer | 1 | $0 |
Aniyia L Williams President | Officer | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $302,445 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $207,610 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $510,055 |
| Total Program Service Revenue | $0 |
| Investment income | $138 |
| 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 | $510,193 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $81,567 |
| 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. | $114,400 |
| Compensation of current officers, directors, key employees. | $22,880 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $80,080 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $15,354 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,469 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $367,389 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $21,843 |
| 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 | $820 |
| All other expenses | $32,083 |
| Total functional expenses | $745,264 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $450,195 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $450,195 |
| Accounts payable and accrued expenses | $2,496 |
| 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 | $2,496 |
| Net assets without donor restrictions | $396,999 |
| Net assets with donor restrictions | $50,700 |
| 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 | $450,195 |