Business Services Collective Nfp
- Assets
- $489.2k
- Revenue
- $881.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Chicago, IL
- Founding
- 02/2020
- Data as of
- 12/2023
- 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 12/2023, 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 12/2023, Business Services Collective Nfp generated $881.4k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 44.5% each year . All expenses for the organization totaled $701.3k 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
PROVIDE AID PRIMARILY TO SMALL BUSINESS OWNERS OF MINORITY COMMUNITIES FROM ECONOMICALLY DEPRESSED AREAS THROUGH ONE-ON-ONE COACHING BUSINESS TRAININGS AND BACK OFFICE SUPPORT IN THE CONSTRUCTION INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONSTRUCTION BUSINESS COACHING: PROVIDED 1,700 HOURS OF TRAINING AND FINANCIAL HEALTH GUIDANCE TO MORE THAN 100 MINORITY-OWNED AND WOMEN-OWNED BUSINESS ENTERPRISES WITHIN THE CONSTRUCTION INDUSTRY SUPPORTING MORE THAN $25 MILLION IN BUSINESS ACTIVITY. HELPED BUSINESS OWNERS GET LOAN READY AND ACCESS $2.4 MILLION IN CAPITAL.
COOPERATIVE: LAUNCHED INITIATIVE TO SUPPORT THE CREATION OF A SHARED SERVICES COOPERATIVE FOR MINORITY-OWNED AND WOMEN-OWNED CONSTRUCTION BUSINESSES TO ACCESS VITAL BACK OFFICE SERVICES AT AFFORDABLE PRICES TO INCREASE BUSINESS RESILIENCY, GROWTH, AND HIRING. 2023 PROGRAMMING INCLUDED WORKSHOP SERIES ON COOPERATIVE PRINCIPLES AND RECRUITING POTENTIAL MEMBER-OWNERS. COOPERATIVE PROJECTED TO LAUNCH IN 2025.
YOUTH APPRENTICESHIP: TRAINED 14 WORKFORCE CANDIDATES IN CONSTRUCTION PROJECT MANAGEMENT, CONSTRUCTION COST ESTIMATING AND BID PACKAGING. WORKFORCE CANDIDATES PARTNERED WITH MINORITY-OWNED AND WOMEN-OWNED BUSINESS ENTERPRISES WITHIN THE CONSTRUCTION INDUSTRY TO PROVIDE 1,300 HOURS OF ENTRY-LEVEL STAFFING SUPPORT THROUGH ON THE JOB EXPERIENCE TO PARTNERED BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nitikaji Nautiyal Treas/cso&cdo | OfficerTrustee | 40 | $132,498 |
Kyle Johnson Secretary/coo | OfficerTrustee | 40 | $118,206 |
Deon Lucas Board Vicechair | OfficerTrustee | 1 | $0 |
Delmar Gillus Board Chair | OfficerTrustee | 1 | $0 |
Claudette Soto Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $44,335 |
| All other contributions, gifts, grants, and similar amounts not included above | $808,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $852,335 |
| Total Program Service Revenue | $28,290 |
| Investment income | $708 |
| 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 | $881,384 |
| 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. | $267,842 |
| Compensation of current officers, directors, key employees. | $58,925 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $6,740 |
| Other employee benefits | $14,616 |
| Payroll taxes | $19,156 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,306 |
| Fees for services: Accounting | $63,619 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $260,450 |
| Advertising and promotion | $1,316 |
| Office expenses | $18,861 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,421 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,308 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,162 |
| Insurance | $3,999 |
| All other expenses | $26 |
| Total functional expenses | $701,254 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,930 |
| Savings and temporary cash investments | $103,148 |
| Pledges and grants receivable | $366,002 |
| Accounts receivable, net | $4,148 |
| 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 | $7,121 |
| Net Land, buildings, and equipment | $2,411 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $4,488 |
| Other assets | $0 |
| Total assets | $489,248 |
| Accounts payable and accrued expenses | $62,403 |
| 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 | $62,403 |
| Net assets without donor restrictions | $1,599 |
| Net assets with donor restrictions | $425,246 |
| 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 | $489,248 |