Black Farmer Fund Inc
- Assets
- $2.8m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 5
- Location
- New York, NY
- Founding
- Data as of
- 12/2021
- EIN
- 84-2310349
Organization Overview
Black Farmer Fund Inc is located in New York, NY. 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 12/2021, Black Farmer Fund Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Black Farmer Fund 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 12/2021, Black Farmer Fund Inc generated $2.8m in total revenue. All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 2115.6% 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
THE MISSION OF BLACK FARMER FUND IS TO CREATE A THRIVING, RESILIENT, AND EQUITABLE FOOD SYSTEM BY INVESTING IN BLACK FOOD SYSTEMS ENTREPRENEURS AND COMMUNITIES IN NEW YORK. THE BLACK FARMER FUND WILL ALSO SERVE AS A BRIDGE FOR BLACK COMMUNITIES TO PARTICIPATE IN CREATING A FOOD SYSTEM THAT BENEFITS THOSE WITHIN AND OUTSIDE OF BLACK COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO CREATE A THRIVING, RESILIENT, AND EQUITABLE FOOD SYSTEM BY INVESTING IN BLACK FOOD SYSTEMS ENTREPRENEURS AND COMMUNITIES IN NEW YORK.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Olivia Watkins Co-Founder/president | Officer | 40 | $103,676 |
Onika Abraham Secretary | OfficerTrustee | 1 | $0 |
Karen Washington Chair | OfficerTrustee | 1 | $0 |
Rhyston Mays Board Member | Trustee | 1 | $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 | $2,821,067 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,821,067 |
| Total Program Service Revenue | $2,150 |
| Investment income | $1,674 |
| 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 | $2,824,891 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $543,908 |
| 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. | $103,675 |
| Compensation of current officers, directors, key employees. | $29,025 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $223,933 |
| Pension plan accruals and contributions | $7,188 |
| Other employee benefits | $39,884 |
| Payroll taxes | $47,723 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,268 |
| 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 | $98,124 |
| Advertising and promotion | $1,553 |
| Office expenses | $16,748 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,930 |
| Travel | $24,029 |
| 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 | $7,182 |
| All other expenses | $1,834 |
| Total functional expenses | $1,196,372 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,657,786 |
| Savings and temporary cash investments | $304,411 |
| Pledges and grants receivable | $777,000 |
| 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 | $104,189 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,344 |
| Total assets | $2,845,730 |
| Accounts payable and accrued expenses | $21,136 |
| 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 | $21,136 |
| Net assets without donor restrictions | $1,932,594 |
| Net assets with donor restrictions | $892,000 |
| 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 | $2,845,730 |
Grants Awarded
Over the last fiscal year, Black Farmer Fund Inc has awarded $495,500 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
THE BLACK YARD COLLECTIVE PURPOSE: PILOT FUND GRANT | $50,000 |
FARM FRESH CARIBBEAN PURPOSE: PILOT FUND GRANT | $50,000 |
ROCKY ACRES COMMUNITY FARM PURPOSE: PILOT FUND GRANT | $50,000 |
TRINITY FARM PURPOSE: PILOT FUND GRANT | $50,000 |
ROOTWORK HERBALS PURPOSE: PILOT FUND GRANT | $50,000 |
716 CBD PURPOSE: PILOT FUND GRANT | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 18 grants that Black Farmer Fund Inc has recieved totaling $2,094,944.
| Awarding Organization | Amount |
|---|---|
Valentines Farm Foundation New York, NY PURPOSE: COMMUNITY | $500,000 |
Common Counsel Foundation Oakland, CA PURPOSE: GENERAL SUPPORT | $350,000 |
Tides Center San Francisco, CA PURPOSE: EQUITY, HUMAN RIGHTS, AND ECONOMIC EMPOWERMENT | $300,000 |
Impactassets Inc Bethesda, MD PURPOSE: GENERAL SUPPORT | $254,000 |
Solidaire Network Inc Oakland, CA PURPOSE: General Support for 501c3 activities for fiscally-sponsored project, the NY Black Food Ecosystem: Creating a Racially Just, Regenerative Food System | $150,000 |
Tides Foundation San Francisco, CA PURPOSE: SUSTAINABLE ENVIRONMENT | $105,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Center For Civic Innovation Inc New York, NY | $21,208,939 | $12,582,443 |
Masschallenge Boston, MA | $11,733,602 | $12,993,021 |
Ben Franklin Technology Center Of Southeastern Pennsylvania Philadelphia, PA | $114,107,980 | $9,362,495 |
Entrepreneurship For All Inc Lowell, MA | $9,819,862 | $9,183,052 |
Trenton Business Assistance Corporation Mercerville, NJ | $91,160,866 | $14,574,637 |
Economic Progress Alliance Of Crawford County Meadville, PA | $32,588,545 | $5,037,136 |
Trickle Up Program Inc New York, NY | $7,710,130 | $4,721,602 |
Commonwealth Kitchen Inc Dorchester, MA | $6,037,148 | $6,037,848 |
Manufacturers Resource Center Allentown, PA | $3,950,399 | $3,151,417 |
Spedd Inc Vandergrift, PA | $27,841,148 | $4,019,412 |
World Trade Center Small Business Recovery Fund Inc Albany, NY | $0 | $35,625 |
Latin American Venture Capital Association New York, NY | $0 | $1,998,213 |