Foundation For Black Entrepreneurship
- Assets
- $394.5k
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Denver, CO
- Founding
- 06/2018
- Data as of
- 12/2021
- EIN
- 82-5188795
Organization Overview
Foundation For Black Entrepreneurship is located in Denver, CO. The organization was established in 2018. According to its NTEE Classification (S43) the organization is classified as: Small Business 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. Foundation For Black Entrepreneurship 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 12/2021, Foundation For Black Entrepreneurship generated $1.3m in total revenue. All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 81.5% per year over the past 3 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
WE PROVIDE HIGH TOUCH SERVICES AND BUSINESS DEVELOPMENT PROGRAMMING FOR BLACK WOMEN ENTREPRENEURS. THESE ACTIVITIES WILL HELP CLOSE THE EQUITY GAP IN ENTREPRENEURSHIP FOR FEMALE BUSINESS OWNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021, OUR PROGRAMS DIRECTLY SUPPORTED OVER 500 BLACK WOMEN ENTREPRENEURS THROUGH TRAINING, COACHING SESSIONS, CONSULTATIONS, AND BACK-OFFICE BUSINESS TECHNICAL SERVICES, WITH 22% OF OUR PARTICIPANTS RETURNING TO PARTICIPATE IN MORE THAN ONE PROGRAM. ALTHOUGH SGN IS COMPRISED 100% OF BLACK WOMEN, WE SERVED A DIVERSE GROUP. PARTICIPANTS VARIED IN AGE, HOUSEHOLD SIZE, ANNUAL INCOME, AND INDUSTRY. WHILE OUR PARTICIPANT AGE GROUP RANGED FROM 20 TO 55+ YEARS OLD, OVER 40% OF OUR PARTICIPANTS WERE IN THEIR MID-40S WITH AN AVERAGE ANNUAL HOUSEHOLD OF $50,000 - $100,000. TO FURTHER THE MISSION AND GOALS OF OUR ORGANIZATION, SEVERAL NEW PARTNERSHIPS WERE SECURED IN 2021. THESE STRATEGIC PARTNERSHIPS LED TO INCREASES IN PROGRAM DELIVERY AND THE NUMBER OF BLACK WOMEN SERVED, AS WELL OVER $237,500 IN NEW FUNDING. EXAMPLES OF NEW PARTNERS INCLUDE XFINITY/COMCAST, XCEL ENERGY, SOUTHWEST AIRLINES, AMAZON, AND KAISER PERMANENTE, TO NAME JUST A FEW. THROUGH HIGHLY-VETTED BUSINESS PROFESSIONALS, THE SGN PROVIDED 130 FREE COACHING SESSIONS TO ASSIST BLACK WOMEN-OWNED BUSINESSES WITH THE CREATION OF STRATEGIC MARKETING PLANS, BUDGETARY GOALS, AND PRODUCT DESIGN. IN ALIGNMENT WITH THE TRENDS OF THE DIGITAL AGE, 2021 SAW OUR DIGITAL FOOTPRINT INCREASE TREMENDOUSLY. HAVING POSITIONED OURSELVES AS A CREDIBLE RESOURCE IN THE ARENA OF ECOMMERCE, DIGITAL MARKETING, AND WEB SERVICES, IN 2021 WE REACHED 14,857 FOLLOWERS ON SOCIAL MEDIA, WHICH WAS A 25% INCREASE OVER 2020. WE ALSO ACHIEVED 210,723 UNIQUE WEB PAGE VIEWS, WHICH WAS A 12% INCREASE OVER 2020.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Makisha Boothe CEO | Officer | 40 | $81,166 |
Kadija Taylor Chairman | Trustee | 6 | $0 |
Shakira Pleasant Chairman | Trustee | 6 | $0 |
Regina Groff Chairman | Trustee | 6 | $0 |
Karen Geter Treasurer | Trustee | 6 | $0 |
Monique Madara Secretary | Trustee | 6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $352,905 |
| All other contributions, gifts, grants, and similar amounts not included above | $903,079 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,255,984 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $1,255,984 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $75,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $81,166 |
| Compensation of current officers, directors, key employees. | $16,233 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $33,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,156 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $40,526 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $634,977 |
| Advertising and promotion | $98,649 |
| Office expenses | $23,071 |
| Information technology | $33,730 |
| Royalties | $0 |
| Occupancy | $11,360 |
| Travel | $30,580 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $722 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $655 |
| Insurance | $2,289 |
| All other expenses | $0 |
| Total functional expenses | $1,165,437 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $249,594 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $129,395 |
| 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 | $13,500 |
| Net Land, buildings, and equipment | $1,966 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $394,455 |
| Accounts payable and accrued expenses | $59,187 |
| 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 | $31,419 |
| Other liabilities | $0 |
| Total liabilities | $90,606 |
| Net assets without donor restrictions | $303,849 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $394,455 |