Capital B News Inc
- Assets
- $5.1m
- Revenue
- $6.1m
- Investments
- $0.0
- Employees
- 11
- Location
- New York, NY
- Founding
- Data as of
- 12/2021
- EIN
- 85-3905902
Organization Overview
Capital B News Inc is located in New York, NY. According to its NTEE Classification (A33) the organization is classified as: Printing & Publishing, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Capital B News Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Capital B News Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CAPITAL B IS A FIRST-OF-ITS-KIND LOCAL AND NATIONAL NONPROFIT NEWS ORGANIZATION REPORTING FOR BLACK COMMUNITIES ACROSS THE COUNTRY. OUR MISSION IS TO COMBAT INEQUALITY AND BUILD MORE INFORMED BLACK COMMUNITIES THROUGH ACCESSIBLE, TRANSPARENT AND EXCEPTIONAL JOURNALISM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HIRING EDITORIAL SVP OF PROGRAMMING AND REVENUE, HIRING EDITORIAL DIRECTOR, AND HIRING ATLANTA EDITOR AND COMMUNITY ENGAGEMENT EDITOR, ALL OF WHOM SET UP CAPITAL B TO DO THE PROGRAM WORK IN OUR MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lauren Williams President & CEO | OfficerTrustee | 60 | $240,662 |
Akoto Ofori-Atta Treasurer & Sec | OfficerTrustee | 60 | $176,627 |
Maurisse Johnson Board Member | Trustee | 1 | $0 |
Sarabeth Berman Director | Trustee | 1 | $0 |
Matt Thompson Director | Trustee | 1 | $0 |
Marsha Cooke Director | Trustee | 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 | $6,073,007 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,073,007 |
| 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 | $6,073,007 |
| 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. | $314,282 |
| Compensation of current officers, directors, key employees. | $118,570 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $142,896 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $41,895 |
| Payroll taxes | $35,192 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,372 |
| Fees for services: Accounting | $28,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $381,059 |
| Advertising and promotion | $3,604 |
| Office expenses | $28,239 |
| Information technology | $971 |
| Royalties | $0 |
| Occupancy | $8,392 |
| Travel | $8,063 |
| 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 | $0 |
| Total functional expenses | $1,044,820 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,325,209 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,781,161 |
| 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 | $338 |
| 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 | $5,106,708 |
| Accounts payable and accrued expenses | $46,018 |
| Grants payable | $0 |
| Deferred revenue | $12,101 |
| 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 | $58,119 |
| Net assets without donor restrictions | $1,102,222 |
| Net assets with donor restrictions | $3,946,367 |
| 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 | $5,106,708 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Capital B News Inc has recieved totaling $2,958,200.
| Awarding Organization | Amount |
|---|---|
The Lenfest Inst For Journalism Spe Asset Fund Of The Phl Foundation Philadelphia, PA PURPOSE: (F) = $1,313,200.00 | $1,313,200 |
Yellow Chair Foundation San Francisco, CA PURPOSE: GENERAL SUPPORT FOR CAPITAL B | $300,000 |
Yellow Chair Foundation San Francisco, CA PURPOSE: GENERAL SUPPORT FOR CAPITAL B | $300,000 |
American Journalism Project Inc Washington, DC PURPOSE: TO GROW AND DIVERSIFY REVENUE AND TO ADVANCE TOWARD A SUSTAINABLE MODEL FOR LOCAL NEWS. | $200,000 |
Robert Wood Johnson Foundation Princeton, NJ PURPOSE: 78934 SUPPORTING CAPITAL B IN PRODUCING SERVICE JO | $200,000 |
American Journalism Project Inc Washington, DC PURPOSE: TO GROW AND DIVERSIFY REVENUE AND TO ADVANCE TOWARD A SUSTAINABLE MODEL FOR LOCAL NEWS. | $200,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Technology Review Inc Cambridge, MA | $6,822,000 | $19,424,000 |
Project Veritas Mamaroneck, NY | $11,883,753 | $22,034,786 |
Journal Of Bone And Joint Surgery Inc Needham, MA | $35,717,891 | $10,120,492 |
Machon Mashe Rockeach Inc Brooklyn, NY | $2,473,215 | $8,597,419 |
Harpers Magazine Foundation New York, NY | $1,648,663 | $7,386,851 |
Retro Report Inc Mystic, CT | $1,128,827 | $6,590,447 |
The New Press Inc New York, NY | $10,475,881 | $7,017,448 |
National Braille Press Inc Boston, MA | $10,542,006 | $5,176,920 |
Medical Letter Inc New Rochelle, NY | $4,157,236 | $5,090,906 |
University Of Pennsylvania Press Incorporated Philadelphia, PA | $1,805,477 | $4,286,513 |
Harvard Magazine Incorporated Cambridge, MA | $2,271,377 | $3,610,627 |
American Booksellers Assoc Inc White Plains, NY | $43,213,298 | $1,963,902 |