247 Blac

Nonprofit profile at a glance

EIN
901179763
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Waterloo, IA, USA
Phone
3194270314
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Reported finances

Revenue
$454,908
Expenses
$461,584
Assets
$733,873
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • SHARINA SALLIS (PRESIDENT)

People named in this filing

  • SHARINA SALLIS (PRESIDENT)
  • KINGSLEY BOTCHWAY (TREASURER)
  • KALOLA ROBY (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Coordination of redevelopment efforts

What it reported doing in 2024

BLACK BUSINESS ENTREPRENEURSHIP ACCELERATOR BBEA Vitality Mastermind Series - In 2024 we launched the Vitality Mastermind Series a focused set of workshops designed to strengthen the skills and confidence of emerging Black entrepreneurs. The series covered essential business topics including goal setting knowing your numbers required tax filings and how to effectively pitch your business. Each session provided practical tools expert guidance and peer support to help entrepreneurs build stronger foundations and prepare for long-term success. This series deepened our impact by offering accessible culturally centered business education outside of our formal accelerator program.

Operating model

Revenue model
Donor-supported. 81% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing does not identify recipients for some grant dollars and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 64
  • Accountability: 88
  • Sustainability: 50
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.7%; rating input score 72
  • Program expense ratio: 70.6%; rating input score 71
  • Fundraising efficiency: $313.84 raised per $1 spent on fundraising; rating input score 94; 94th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 19th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1.5%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 1.59; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 12.7% per year; rating input score 100; 75th percentile among comparable filings
  • Revenue growth: 16.5% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 30.3% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 71.7% of revenue deployed · 70.6% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $326K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 39 of 42 current checks pass · 3 findings to review
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Moderate — Sustainability: Operating margin scored 35/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX FeesForServicesOther column sum did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.