Icon360 Inc
- Assets
- $261.3k
- Revenue
- $698.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Brooklyn, NY
- Founding
- Data as of
- 12/2022
- EIN
- 85-1063640
Organization Overview
Icon360 Inc is located in Brooklyn, NY. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Icon360 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 12/2022, Icon360 Inc generated $698.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (12.4%) each year. All expenses for the organization totaled $818.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (7.2%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Icon360 Inc has awarded 19 individual grants totaling $1,071,250. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ICON360'S MISSION IS TO PROVIDE FINANCIAL RESOURCES AND INDUSTRY CONNECTIONS FOR HBCUS AND MARGINALIZED DESGINERS OF COLOR TO ACHIEVE SUSTAINABLE GROWTH IN THE FASHION INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ICON360 AWARDS GRANTS TO BIPOC DESIGNERS WHICH PROVIDED CAPITAL AND COACHING TO SCALE THEIR BUSINESSES. THE GRANTS ARE IN SUPPORT OF HISTORICALLY BLACK COLLEGES, UNIVERSITIES (HBCUS), & INDIVIDUALS FOR PROGRAMS IN EITHER FASHION DESIGN, FASHION MERCHANDISING, OR ARTS PROGRAMS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brandice Daniel President | OfficerTrustee | 2.5 | $0 |
Tamara Wolliston Treasurer | OfficerTrustee | 1 | $0 |
Kimberly Perry Secretary | OfficerTrustee | 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 | $698,798 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $698,798 |
| 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 | $698,798 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $540,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $0 |
| Advertising and promotion | $23,876 |
| Office expenses | $690 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,263 |
| Travel | $8,910 |
| 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 | $0 |
| All other expenses | $618 |
| Total functional expenses | $818,216 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $258,767 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,500 |
| Total assets | $261,267 |
| Accounts payable and accrued expenses | $303,249 |
| 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 | $851 |
| Total liabilities | $304,100 |
| Net assets without donor restrictions | -$42,833 |
| 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 | $261,267 |
Grants Awarded
Over the last fiscal year, Icon360 Inc has awarded $540,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
BOWIE STATE UNIVERSITY PURPOSE: HBCU FASHION DEPARTMENT SUPPORT | $55,000 |
DELAWARE STATE UNIVERSITY PURPOSE: HBCU FASHION DEPARTMENT SUPPORT | $30,000 |
CLARK ATLANTA UNIVERSITY PURPOSE: HBCU FASHION DEPARTMENT SUPPORT | $75,000 |
NORTH CAROLINA CENTRAL UNIVER PURPOSE: HBCU FASHION DEPARTMENT SUPPORT | $50,000 |
NORTH CAROLINA A&T STATE UNIV PURPOSE: HBCU FASHION DEPARTMENT SUPPORT | $100,000 |
TENNESSEE STATE UNIVERSITY PURPOSE: HBCU FASHION DEPARTMENT SUPPORT | $50,000 |