Black In Ai
- Assets
- $2.8m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 3
- Location
- Menlo Park, CA
- Founding
- Data as of
- 12/2023
- EIN
- 82-4062920
Organization Overview
Black In Ai is located in Menlo Park, CA. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2023, Black In Ai employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Black In Ai 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 In Ai generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 26.8% each year . All expenses for the organization totaled $1.1m 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
BLACK IN AI AIMS TO BROADEN THE RANGE OF VOICES CONTRIBUTING TO THE DEVELOPMENT, DEPLOYMENT, AND REGULATION OF AI TECHNOLOGY. WITH A GLOBAL COMMUNITY OF OVER 5900 MEMBERS ACROSS 117 COUNTRIES, OUR INITIATIVES OFFER INVALUABLE RESOURCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EMERGING LEADERS IN AI GRAD PREP PROGRAMS SERVED OVER 100+ GLOBAL PARTICIPANTS ON THE JOURNEY TO THE MA AND PHD IN AN AI-RELATED FIELD. TO DATE, BLACK IN AI HAS SUPPORTED OVER 800 STUDENTS THROUGH GRADUATION PROGRAM PREPARATION. NEURIPS WORKSHOP / RESEARCH GRANT AWARDS: BLACK IN AI SUPPORTED OVER 37 STUDENTS ACROSS 15+ COUNTRIES WITH GRANT AWARDS COVERING THE TRAVEL AND PARTICIPATION TO THE BLACK IN AI WORKSHOP CO-LOCATED AT NEURIPS 2023
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gelyn Watkins CEO | Officer | 40 | $190,000 |
Simone Bartlett Treasurer | Trustee | 7 | $0 |
Sanmi Koyejo President | OfficerTrustee | 12 | $0 |
Ezinne Nwankwo Secretary | Trustee | 6 | $0 |
Afua Bruce Director | Trustee | 2 | $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 | $1,214,467 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,214,467 |
| Total Program Service Revenue | $0 |
| Investment income | $11,037 |
| 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 | $1,225,504 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $220,503 |
| Grants and other assistance to Foreign Orgs/Individuals | $10,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $190,000 |
| Compensation of current officers, directors, key employees. | $31,667 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $80,231 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,640 |
| Payroll taxes | $20,832 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,376 |
| Fees for services: Accounting | $26,317 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $61,606 |
| Advertising and promotion | $75,384 |
| Office expenses | $2,152 |
| Information technology | $13,228 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $322 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,000 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,809 |
| All other expenses | $37,712 |
| Total functional expenses | $1,070,797 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $957,806 |
| Savings and temporary cash investments | $1,557,103 |
| Pledges and grants receivable | $265,000 |
| Accounts receivable, net | $39,504 |
| 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 | $3,980 |
| 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 | $2,823,393 |
| Accounts payable and accrued expenses | $16,551 |
| 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 | $44,891 |
| Total liabilities | $61,442 |
| Net assets without donor restrictions | $2,511,991 |
| Net assets with donor restrictions | $249,960 |
| 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 | $2,823,393 |