Black Economic Mobility Coalition

Nonprofit profile at a glance

EIN
862062016
IRS 990-EZ coverage
2021–2024
Forms available
Form 990-EZ 2024
Location
Spartanburg, SC, USA
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$1,983
Expenses
$1,946
Assets
$16,387

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

Leadership & pay

3 people listed

People named in this filing

  • Julius Tolbert (Foundation Manager)
  • Trey Glover (Foundation Manager)
  • Saville Williams (Foundation Manager)

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

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

Overview

Mission

Identify and develop talent to increase the number of sustainable Black-owned business in the Upstate

What it reported doing in 2024

As we reflect on the past year it is inspiring to see how BEMC has played a pivotal role in empowering Black Business Owners Through our dedicated efforts we communicated vital information about economic resources that could make a significant difference in their businesses Our commitment did not stop there we actively supported entrepreneurs in seeking funding ensuring they had the tools and knowledge necessary to thrive

Operating model

Revenue model
Investment-supported. 87% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 80% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filed totals do not add up and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 100
  • Transparency & Controls: 82
  • Sustainability: 56
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.8%; rating input score 100
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 1.9%; rating input score 49; 49th percentile among comparable filings
  • Total-asset coverage ratio: 8.42; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -78.1% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -5.7% per year; rating input score 0; 32nd percentile among comparable filings
  • Asset growth: 58% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 99.8% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $2K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 6 of 7 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • 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 — Transparency & Controls: Part I part ii net assets crosscheck did not reconcile in the filed values.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 49/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.