Blk Foundation Inc
- Assets
- $4.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Cambridge, MA
- Founding
- Data as of
- 12/2023
- EIN
- 86-3099877
Organization Overview
Blk Foundation Inc is located in Cambridge, MA. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Blk Foundation 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
BLK FOUNDATION, INC. (THE 'FOUNDATION')IS A STUDENT-RUN ORGANIZATION CREATED TO REMEDIATE SYSTEMIC BARRIERS THAT IMPEDE GROWTH AND ENTREPRENEURSHIP IN UNDERSERVED AND MARGINALIZED COMMUNITIES. THE FOUNDATION WILL PROVIDE RESOURCES AND NETWORKING OPPORTUNITIES TO UNDERREPRESENTED MINORITY STUDENTS AS WELL AS ENTREPRENEURS AND FOUNDERS OF MINORITY-OWNED AND WOMEN-OWNED BUSINESSES. THE FOUNDATION WILL FURTHER THESE GOALS BY ENGAGING IN THE FOLLOWING ACTIVITIES (THE PROGRAMMING):1. PROVIDING COACHING, ACCESS AND RESOURCES TO ESTABLISHED MINORITY OWNED BUSINESSES AND MINORITY ENTREPRENEURS;2. PROVIDING GRANTS TO ESTABLISHED MINORITY-OWNED BUSINESSES SERVING AT RISK OR UNDERFUNDED COMMUNITIES (WHICH WILL BE LIMITED TO USE EXCLUSIVELY IN FURTHERANCE OF COMBATING COMMUNITY DETERIORATION, RELIEF OF THE POOR, THE DISTRESSED, AND/OR THE UNDERPRIVILEGED AND OTHER CHARITABLE PURPOSES); AND3. PROVIDING EDUCATIONAL FELLOWSHIPS TO MINORITY UNDERGRADUATE INDIVIDUALS TO PROVIDE CAPITAL TO 'INCUBATE' A FOR-PROFIT BUSINESS SERVING CERTAIN AT-RISK OR UNDERFUNDED COMMUNITIES (WHICH GRANTS WILL BE LIMITED TO USE EXCLUSIVELY FOR DEVELOPMENT OF THAT BUSINESS).
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angel Onuoha Onyekuru Foundation Mgr. | 0 | $0 | |
Injil Muhammad Trustee | 0 | $0 | |
Seven Richmond Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $110,000 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $110,000 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $111,276 |
| Total expenses | $111,276 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $4,224 |
| Other assets | $0 |
| Total assets | $4,224 |
| Total liabilities | $0 |
| Net assets or fund balances | $4,224 |