Black Wealth Summit Inc

Organization Overview

Black Wealth Summit Inc is located in Lanham, MD. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Black Wealth Summit 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 12/2023, Black Wealth Summit Inc generated $478.9k 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 (3.5%) each year. All expenses for the organization totaled $631.4k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

TO CREATE AN INCLUSIVE WEALTH AND FINANCIAL EDUCATIONAL EXPERIENCE, UNIQUELY DESIGNED TO BRING TOGETHER CHAMPIONS AND CHANNELS THAT WILL FOSTER PROSPERITY FOR BLACK LIVES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO PROVIDE EDUCATION TO THE AFRICAN-AMERICAN COMMUNITY ON INVESTING, FINANCIAL MANAGEMENT, ETC. THROUGH THE USE OF EXTERNAL FINANCIAL MANAGEMENT FIRMS WHO ASSIST IN CONDUCTING AN EDUCATION CONFERENCE ONCE A YEAR. THIS CONFERENCE IS CONDUCT BOTH VIRTUALLY AND PHYSICALLY EACH YEAR WITH THE INTENTION OF PROVIDING ACCESS TO MENTORSHIPS OPPORTUNITIES AND FINANCIAL LIFE SKILLS TO ATTENDEES.


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Board, Officers & Key Employees

Name (title)Compensation
Renea J Pierre
Secretary
$0
Michael Robinson
Vice-President
$0
Cedric Nash
President
$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$478,861
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$478,861
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 $478,861

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