Beloved Community Incubator Inc

Nonprofit profile at a glance

EIN
833133482
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Washington, DC, USA
Phone
3016395367
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Employment Procurement Assistance

Reported finances

Revenue
$988,282
Expenses
$978,238
Assets
$335,572
Liabilities
$12,835

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

Leadership & pay

12 people listed

Executive titles in this filing

  • MEGAN FELIX MACARAEG (CO-PRESIDENT/ORGANIZING DIRECTOR)
  • BIANCA VAZQUEZ (CO-PRESIDENT/PROGRAM DIRECTOR)

Highest reported compensation

  • MEGAN FELIX MACARAEG (CO-PRESIDENT/ORGANIZING DIRECTOR): $93,150 total reported compensation
  • GEOFFREY GILBERT (LEGAL AND TECHNICAL DIRECTOR): $80,265 total reported compensation
  • BIANCA VAZQUEZ (CO-PRESIDENT/PROGRAM DIRECTOR): $79,387 total reported compensation

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

Overview

Mission

Beloved community incubator (bci) is worker self-directed non-profit that supports and organizes resources for community-based cooperatives and collectives in the dc metro area. Bci provides high-touch incubation support - including leadership development, ecosystem and we support workers to create and maintain collectively owned businesses so that workers can control their work, pay themselves living wages, build a democratic practice of stewarding resources together and engage in the wider dmv area movement ecosystem that is building abolition and decolonization. We provide high-touch incubation support - including leadership development, ecosystem and resource organizing and legal, bookkeeping and administrative support - for new cooperatives that create living wage work and that are led by poor and working class black, brown, indigenous and people of color.

What it reported doing in 2024

Community organization - in partnership with the national organization seed commons (dba the working world), we launched the dc solidarity economy loand fund, which sources non-extractive lending to local cooperatives. Seed commons is the lender of record for all transactions, while beloved community incubator provides the education and technical assistance for worker-coops to be ready to access capital.

Operating model

Revenue model
Donor-supported. 97% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 79
  • Accountability: 76
  • Sustainability: 31
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.3%; rating input score 77
  • Program expense ratio: 78.1%; rating input score 78
  • Fundraising efficiency: $55.29 raised per $1 spent on fundraising; rating input score 79; 79th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 83.3%; rating input score 83; 1st percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 16th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • 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%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 0.34; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 55; 55th percentile among comparable filings
  • Officer compensation ratio: 25.8%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: 1.4% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 5.1% per year; rating input score 100; 44th percentile among comparable filings
  • Asset growth: 22% per year; rating input score 100; 84th percentile among comparable filings

Details

  • Where the money goes: 77.3% of revenue deployed · 78.1% of spending went to programs
  • Governance: 9 of 12 board members independent · 7 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $764K in reported program spending
  • Leadership: top reported pay $93K · 12 people listed
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Sustainability: Operating margin scored 39/100.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 9/100.
  • Review — Sustainability: Liabilities to assets ratio scored 55/100.