Icon360 Inc
- Assets
- $99.1k
- Revenue
- $848.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Brooklyn, NY
- Founding
- Data as of
- 12/2021
- 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 12/2021, Icon360 Inc generated $848.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (9.8%) each year. All expenses for the organization totaled $787.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (12.3%) per year over the past 2 years. 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
TO EMPOWER FASHION DESIGNERS OF COLOR WITH INDEPENDENT LABELS BY PROVIDING CAPITAL TO GROW AND SCALE THEIR BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ICON360 AWARDED 20 GRANTS TO BIPOC DESIGNERS WHICH PROVIDED CAPITAL AND COACHING TO SCALE THEIR BUSINESSES. THERE WERE A TOTAL OF FOUR GRANTS IN THE AMOUNT OF $10,000, 13 GRANTS IN THE AMOUNT OF $5,000, TWO GRANTS IN THE AMOUNTS OF $2,500, AND ONE GRANT IN THE AMOUNT OF $1,500. IN SUPPORT OF HISTORICALLY BLACK COLLEGES & UNIVERSITIES (HBCUS), TEN HBCU PROGRAMS WITH EITHER FASHION DESIGN, FASHION MERCHANDISING, OR ARTS PROGRAMS WERE AWARDED A TOTAL OF $530,000. THESE NEED AND MERIT BASED GRANTS WERE AWARDED AT THE $20,000, $50,000 AND $100,000 DOLLAR LEVELS; TEN PERCENT OF EACH AWARD WAS RESTRICTED FOR STUDENT SCHOLARSHIPS IN THE RESPECTIVE PROGRAMS.
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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 | $848,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $848,000 |
| 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 | $848,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $536,250 |
| Grants and other assistance to domestic individuals. | $111,500 |
| 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 | $44,195 |
| Fees for services: Legal | $32,690 |
| Fees for services: Accounting | $1,084 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,492 |
| Advertising and promotion | $1,611 |
| Office expenses | $175 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,486 |
| Travel | $1,754 |
| 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 | $3,761 |
| All other expenses | $0 |
| Total functional expenses | $787,620 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $46,585 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $50,000 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,500 |
| Total assets | $99,085 |
| Accounts payable and accrued expenses | $1,250 |
| Grants payable | $21,250 |
| 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 | $22,500 |
| Net assets without donor restrictions | $76,585 |
| 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 | $99,085 |
Grants Awarded
Over the last fiscal year, Icon360 Inc has awarded $531,250 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
NORTH CAROLINA CENTRAL UNIVERSITY PURPOSE: HBCU FASHION DEPARTMENT SUPPORT | $100,000 |
Greensboro, NC PURPOSE: HBCU FASHION DEPARTMENT SUPPORT | $100,000 |
Bowie, MD PURPOSE: HBCU FASHION DEPARTMENT SUPPORT | $50,000 |
Washington, DC PURPOSE: HBCU FASHION DEPARTMENT SUPPORT | $50,000 |
UNIVERSITY OF MARYLAND EASTERN SHORE PURPOSE: HBCU FASHION DEPARTMENT SUPPORT | $50,000 |
Nashville, TN PURPOSE: HBCU FASHION DEPARTMENT SUPPORT | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Icon360 Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Berks County School Districts Health Tr Reading, PA | $37,307,686 | $92,475,879 |
Jewish Home Lifecare Manhattan New York, NY | $92,070,146 | $86,814,145 |
Central European University New York, NY | $577,160,061 | $72,058,098 |
International Union Of Operating Engineers Welfare Fund Long Island City, NY | $98,450,225 | $98,628,304 |
New Jersey Property Liability Basking Ridge, NJ | $270,074,908 | $113,404,286 |
Upmc Lititz Harrisburg, PA | $81,864,299 | $83,139,500 |
Procter & Gamble Benefit Plan Trust Cincinnati, OH | $69,184,153 | $97,679,425 |
United Church Homes Inc Marion, OH | $230,951,491 | $117,776,158 |
American Society For Testing And Materials West Conshohocken, PA | $507,262,217 | $135,712,233 |
Cedar Crest Village Llc Pompton Plains, NJ | $458,841,206 | $94,228,748 |
Alfred P Sloan Foundation New York, NY | $2,105,880,634 | $192,527,982 |
Philadelphia Post-Acute Partnersllc Philadelphia, PA | $76,499,158 | $101,068,675 |