Midlands African Chamber Inc
- Assets
- $149.6k
- Revenue
- $353.0k
- Investments
- $0.0
- Employees
- 8
- Location
- Omaha, NE
- Founding
- Data as of
- 12/2023
- EIN
- 85-1935551
Organization Overview
Midlands African Chamber Inc is located in Omaha, NE. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Midlands African Chamber Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midlands African Chamber Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Midlands African Chamber Inc generated $353.0k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 40.7% each year . All expenses for the organization totaled $398.2k 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
TO EMPOWER, CONNECT, AND CHAMPION THE AFRICAN AND AFRICAN AMERICAN BUSINESS COMMUNITIES IN NEBRASKA AND IN THE MIDWEST
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PITCH BLACK ACCELERATOR ("PBA") IS AN ENTERPRISE ACCELERATOR PROGRAM DESIGNED TO STRENGTHEN, ENERGIZE, AND SUPPORT STARTUPS AND SMALL BUSINESSES LED BY BLPOC ENTREPRENEURS IN NEBRASKA AND THROUGHOUT THE MIDLANDS. PBA IDENTIFIES BLACK BUSINESS LEADERS WITH IMPACT-ORIENTED SOLUTIONS, ADDRESSING ESSENTIAL COMMUNITY NEEDS WHILE SPURRING SUSTAINABLE GROWTH.
RISING CEOS IS A LEADERSHIP AND ENTREPRENEURSHIP PROGRAM WHICH IS MADE POSSIBLE BY GRANTS OF THE OMAHA COMMUNITY FOUNDATION, SHERWOOD FOUNDATION AND WEITZ FOUNDATION. THE PROGRAM'S GOAL IS TO FOSTER ENTREPRENEURIAL SPIRIT, TECHNOLOGY, AND LEADERSHIP SKILLS AMONG AT-RISK YOUNG BLACK AND BROWN GIRLS AND BOYS, BETWEEN THE AGES OF 14 TO 19 YEARS. IT IS DESIGNED TO CREATE OPPORTUNITIES FOR TEENS IN AT-RISK POPULATIONS IN BLACK AND BROWN, IMMIGRANT AND REFUGEE COMMUNITIES SO TO INSPIRE AND FEED THE PIPELINE OF FUTURE MINORITY ENTREPRENEURS.
THE MAC XCELERATOR (MAC-X) IS AN ENTERPRISE ACCELERATOR PROGRAM DESIGNED TO STRENGTHEN, ENERGIZE, AND SUPPORT STARTUPS AND SMALL BUSINESSES LED BY BLPOC ENTREPRENEURS IN NEBRASKA AND THROUGHOUT THE MIDLANDS. MAC-X IDENTIFIES BLACK BUSINESS LEADERS WITH IMPACT-ORIENTED SOLUTIONS, ADDRESSING ESSENTIAL COMMUNITY NEEDS WHILE SPURRING SUSTAINABLE GROWTH. IN ORDER TO CATER TO A WIDE AUDIENCE, THE MAC-X PROGRAM WILL BE HELD BIANNUALLY, WITH ONE SESSION IN THE FALL AND ANOTHER IN THE SPRING. PARTICIPANTS IN THE PROGRAM WILL HAVE THE OPPORTUNITY TO RECEIVE FINANCIAL INCENTIVES AND MAY CHOOSE TO APPLY FOR THE PITCH BLACK COMPETITION. HOWEVER, BEING PART OF THE MAC-X PROGRAM DOES NOT GUARANTEE PARTICIPATION IN THE PITCH BLACK COMPETITION OR FINALE. COMPLETING THE MAC-X PROGRAM WILL ENABLE COHORT MEMBERS TO RECEIVE UP TO $ 1,000 IN SEED FUNDS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karine Sokpoh CEO | Trustee | 30 | $57,692 |
Fidele Mienso Secretary | OfficerTrustee | 10 | $35,178 |
Marco Kpeglo Leroc Vice President | OfficerTrustee | 10 | $0 |
Oluseyi Olowolafe Board Member | Trustee | 5 | $0 |
John Ouedraogo Board Member | Trustee | 5 | $0 |
Luper Akough Board Member | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $15,550 |
| Fundraising events | $0 |
| Related organizations | $30,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $207,285 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $252,835 |
| Total Program Service Revenue | $100,120 |
| 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 | $352,955 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $29,500 |
| 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 | $160,743 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $23,631 |
| Payroll taxes | $17,874 |
| Fees for services: Management | $31,036 |
| 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 | $4,416 |
| Office expenses | $34,621 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,797 |
| Travel | $3,860 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,639 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,899 |
| All other expenses | $0 |
| Total functional expenses | $398,178 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $145,058 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,557 |
| 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 | $0 |
| Total assets | $149,615 |
| Accounts payable and accrued expenses | $27,876 |
| 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 | $27,876 |
| Net assets without donor restrictions | $0 |
| 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 | $121,739 |
| Total liabilities and net assets/fund balances | $149,615 |