Business Services Collective Nfp
- Assets
- $42.2k
- Revenue
- $253.3k
- Investments
- $0.0
- Employees
- 2
- Location
- Chicago, IL
- Founding
- 02/2020
- Data as of
- 12/2021
- EIN
- 84-3973294
Organization Overview
Business Services Collective Nfp is located in Chicago, IL. The organization was established in 2020. According to its NTEE Classification (R12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Civil Rights, Social Action & Advocacy and related organizations. As of 12/2021, Business Services Collective Nfp employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Business Services Collective Nfp 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, Business Services Collective Nfp generated $253.3k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 21.8% each year . All expenses for the organization totaled $342.1k during the year ending 12/2021. 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
PROVIDE AID PRIMARILY TO SMALL BUSINESS OWNERS OF MINORITY COMMUNITIES FROM ECONOMICALLY DEPRESSED AREAS THROUGH ONE-ON-ONE BUSINESS TRAININGS AND BACK OFFICE SUPPORT IN THE CONSTRUCTION INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED 1026 HOURS OF TRAINING AND GUIDANCE TO 74 MINORITY-OWNED AND WOMEN-OWNED BUSINESS ENTERPRISES WITHIN THE CONSTRUCTION INDUSTRY SUPPORTING MORE THAN $20 MILLION IN BUSINESS ACTIVITY.
LAUNCHED EMPOWER PARTNERSHIP HELPING 15 BUSINESS OWNERS GET LOAN READY AND ACCESS $208,000 IN LOANS AND GRANTS.
DEVELOPED RISING TRADES ACCELERATOR IN KANSAS CITY WITH LOCAL PARTNERS TO ASSIST BIPOC CONTRACTORS IN GREEN CONSTRUCTION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nitikaji Nautiyal Treasurer / Chief Strategy & Development Officer | OfficerTrustee | 40 | $114,833 |
Kyle Johnson Secretary/chief Operating Officer | OfficerTrustee | 40 | $97,250 |
Nora Sobolov Board Chair | Trustee | 1 | $0 |
Delmar Gillus Director | Trustee | 1 | $0 |
Deon Lucas Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $19,845 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,050 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $24,895 |
| Total Program Service Revenue | $228,334 |
| Investment income | $47 |
| 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 | $253,276 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $220,000 |
| Compensation of current officers, directors, key employees. | $44,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $17,134 |
| Fees for services: Management | $9,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,314 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $10,676 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $90 |
| Travel | $0 |
| 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 | $886 |
| Insurance | $2,904 |
| All other expenses | $76,105 |
| Total functional expenses | $342,109 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,522 |
| Savings and temporary cash investments | $116 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,000 |
| 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 | $4,902 |
| Net Land, buildings, and equipment | $3,694 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $42,234 |
| Accounts payable and accrued expenses | $42,731 |
| 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 | $42,731 |
| Net assets without donor restrictions | -$1,065 |
| Net assets with donor restrictions | $568 |
| 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 | $42,234 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Business Services Collective Nfp has recieved totaling $60,000.
| Awarding Organization | Amount |
|---|---|
The Chicago Community Trust Chicago, IL PURPOSE: TO SUPPORT BUSINESS COACHING, AND INFRASTRUCTURE | $60,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
One Iowa West Des Moines, IA | $526,945 | $684,634 |
Business Services Collective Nfp Chicago, IL | $42,234 | $253,276 |
African-American Community Trust Nfp Chicago, IL | $44,102 | $0 |
Columbus Craft Beerfest Company Columbus, IN | $83,428 | $0 |
My Excellency Schools Complex Nfp Chicago, IL | $0 | $37,005 |