Black Ambition Opportunity Inc

Nonprofit profile at a glance

EIN
851559517
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2021
Location
Miami, FL, USA
Phone
3102290371
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Intergroup, Race Relations

Official website

Reported finances

Revenue
$6,100,508
Expenses
$7,286,351
Assets
$10,535,844
Liabilities
$2,832,507

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

Leadership & pay

4 people listed

Executive titles in this filing

  • Felicia Hatcher (CEO)

Highest reported compensation

  • Felicia Hatcher (CEO): $436,430 total reported compensation

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

Overview

Mission

Provide increased economic opportunities to underrepresented entrepreneurs to bridge wealth and opportunity gaps through entrepreneurship by increasing both the pipeline of diverse entrepreneurs as well as the number of historically excluded entrepreneurs who succeed at raising necessary startup capital.

What it reported doing in 2024

Black Ambition provides a platform for underrepresented founders to access capital, coaching, community and bespoke training content through a national prize competition. Eligible applicants consist of teams of underrepresented startup founders, who have raised no more than $1 million in dilutive funding, scaling early-stage ventures across technology, AI, media and entertainment, healthcare and consumer products and services. Black Ambition believes entrepreneurs historically left out of traditional investment funnels are building the companies of tomorrow.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 72% for direct work, and 28% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 92
  • Transparency & Controls: 75
  • Accountability: 79
  • Sustainability: 28
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 85.5%; rating input score 85
  • Fundraising efficiency: $38.85 raised per $1 spent on fundraising; rating input score 74; 74th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: -19.4%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 1.45; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.27; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 6%; rating input score 47; 47th percentile among comparable filings

Growth

  • Program expense growth: 26.9% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: -50.9% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: 32.9% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 85.5% of spending went to programs
  • Governance: 4 of 4 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $6.2M in reported program spending
  • Leadership: top reported pay $436K · 4 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 7/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.
  • Moderate — Sustainability: Officer compensation ratio scored 47/100.