Center For Black Excellence And Culture Inc
- Assets
- $14.9m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Madison, WI
- Founding
- Data as of
- 12/2023
- EIN
- 85-3072819
Organization Overview
Center For Black Excellence And Culture Inc is located in Madison, WI. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center For Black Excellence And Culture 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, Center For Black Excellence And Culture Inc generated $2.5m 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 (12.1%) each year. All expenses for the organization totaled $788.1k 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 PROMOTE AND DEVELOP A BLACK CULTURAL CENTER IN MADISON, WISCONSIN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES OUTREACH SERVICES TO THE COMMUNITY AND IN THE FUTURE WILL BE PROVIDING A PLACE FOR THE BLACK COMMUNITY TO FOSTER AND ACCELERATE ENTREPRENEURIAL SPIRIT, CELEBRATE EXCELLENCE, AND A PLACE TO FEEL REPRESENTED AND BE SURROUNDED BY THEIR CULTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Alexander Gee President | OfficerTrustee | 30 | $0 |
Frances Huntley-Cooper Secretary | OfficerTrustee | 3 | $0 |
Brian Russell Treasurer | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Joseph Lee & Associates Llc Architectural Design | 12/30/23 | $1,201,037 |
Dr Alex Gee Group Llc Executive | 12/30/23 | $195,108 |
Bower Group Llc Project Management | 12/30/23 | $195,039 |
Amanda White Consulting Fundraising Consulting | 12/30/23 | $114,398 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,715 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,457,497 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,460,212 |
| Total Program Service Revenue | $0 |
| Investment income | $64,385 |
| 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 | $2,524,597 |
| 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. | $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 | $114,398 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $522,830 |
| Advertising and promotion | $91,338 |
| Office expenses | $6,754 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,778 |
| 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 | $18,754 |
| Insurance | $453 |
| All other expenses | $28,960 |
| Total functional expenses | $788,114 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $190,262 |
| Savings and temporary cash investments | $8,798,346 |
| Pledges and grants receivable | $4,319,941 |
| 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 | $1,503,209 |
| Investments—publicly traded securities | $42,650 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $75,015 |
| Other assets | $0 |
| Total assets | $14,929,423 |
| Accounts payable and accrued expenses | $469,824 |
| 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 | $469,824 |
| Net assets without donor restrictions | $6,037,070 |
| Net assets with donor restrictions | $8,422,529 |
| 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 | $14,929,423 |