Black Girl Ventures Foundation
- Assets
- $4.9m
- Revenue
- $5.6m
- Investments
- $0.0
- Employees
- 27
- Location
- Alexandria, VA
- Founding
- 06/2018
- Data as of
- 12/2023
- EIN
- 83-0935942
Organization Overview
Black Girl Ventures Foundation is located in Alexandria, VA. 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. As of 12/2023, Black Girl Ventures Foundation employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Black Girl Ventures Foundation 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 Girl Ventures Foundation generated $5.6m in total revenue. All expenses for the organization totaled $3.6m during the year ending 12/2023. While expenses have increased by 76.5% per year over the past 5 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.
Since 2020, Black Girl Ventures Foundation has awarded 18 individual grants totaling $187,778. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE BLACK AND BROWN WOMAN IDENTIFYING AS FOUNDERS WITH ACCESS TO COMMUNITY, EDUCATION AND LEADERSHIP DEVELOPMENT IN ORDER TO MEET BUSINESS MILESTONES THAT LEAD TO ECONOMIC SUCCESS THROUGH ENTREPRENEURSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE BLACK AND BROWN WOMAN IDENTIFYING AS FOUNDERS WITH ACCESS TO COMMUNITY, EDUCATION AND LEADERSHIP DEVELOPMENT IN ORDER TO MEET BUSINESS MILESTONES THAT LEAD TO ECONOMIC SUCCESS THROUGH ENTREPRENEURSHIP. BGV PROGRAMS, NEXTGEN AND ELF, HAVE CONTINUED TO REACH THE TARGETED GOAL OF 250 APPLICATIONS PER PROGRAM, PER COHORT. A TOTAL OF 45 FOUNDERS WERE SELECTED TO PARTICIPATE, 25 VISIONARIES (STUDENTS) AND 20 ELF. COHORT 2 OF EACH PROGRAM CONCLUDED IN THE 4TH QUARTER OF 2023. THE FALL PITCH COMPETITION WAS HELD IN 3 CITIES, LOS ANGELES, CALIFORNIA,10/16/23, AUSTIN, TEXAS, 11/02/23 AND NEW YORK, 12/07/23. A TOTAL OF 23 FOUNDERS WERE FUNDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Willie Williams Board Chair | OfficerTrustee | 1 | $0 |
Alex Neckles Officer | Trustee | 1 | $0 |
Nikisha Carpenter Officer | Trustee | 1 | $0 |
Christina Clark Officer | Trustee | 1 | $0 |
Kristina Francis Treasurer | OfficerTrustee | 1 | $0 |
Omi Bell CEO | OfficerTrustee | 40 | $208,121 |
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 | $5,475,823 |
| Noncash contributions included in lines 1a–1f | $80,280 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,475,823 |
| Total Program Service Revenue | $62,107 |
| Investment income | $7,431 |
| 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 | $5,599,245 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $839,406 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $208,121 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,215,057 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $16,022 |
| Payroll taxes | $98,987 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,000 |
| Fees for services: Accounting | $15,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $584,803 |
| Advertising and promotion | $82,186 |
| Office expenses | $27,488 |
| Information technology | $59,930 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $145,298 |
| 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 | $43,193 |
| Insurance | $8,898 |
| All other expenses | $13,541 |
| Total functional expenses | $3,575,005 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,687,258 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,243,877 |
| 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 | $4,931,135 |
| Accounts payable and accrued expenses | $112,180 |
| 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 | $112,180 |
| Net assets without donor restrictions | $2,075,078 |
| Net assets with donor restrictions | $2,743,877 |
| 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 | $4,931,135 |
Grants Awarded
Over the last fiscal year, Black Girl Ventures Foundation has awarded $130,000 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
SOUL CARE LLC | | | $10,000 |
KEETA PLACE INC | | | $10,000 |
NKC ACCOUNTING LLC | | | $10,000 |
FAIRLESSLY HUE LLC | | | $10,000 |
CREATIVITI CUSTOM DESIGNS AND EVENTS LLC | | | $10,000 |
LYC STRATEGIES LLC | | | $10,000 |