Blck Vc

Nonprofit profile at a glance

EIN
844735516
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
San Francisco, CA, USA
Phone
8778295500
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Civil Rights, Social Action, Advocacy N.E.C.

Reported finances

Revenue
$2,103,398
Expenses
$2,287,914
Assets
$1,762,040
Liabilities
$1,206,705

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

Leadership & pay

8 people listed

Executive titles in this filing

  • ROBERT LEE GORDON IV (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • ROBERT LEE GORDON IV (CHIEF EXECUTIVE OFFICER): $184,904 total reported compensation
  • KAREEMA THOMAS (Chief Strategy Officer): $130,305 total reported compensation
  • WARSAME AYAN (CHIEF OPERATING OFFICER): $107,664 total reported compensation

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

Overview

Mission

To connect, engage, empower and advance black venture investors.

What it reported doing in 2024

Support black investors with the access, education and community needed to accelerate their careers in venture capital.

Operating model

Revenue model
Earned-program. 87% of the money available for current operations came from fees and other program revenue.
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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 46
  • Transparency & Controls: 66
  • Accountability: 82
  • Sustainability: 18
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 53%; rating input score 53
  • Program expense ratio: 48.7%; rating input score 49
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -8.8%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 0.77; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0.68; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 23.1%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: 32.6% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 4.9% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: 1.2% per year; rating input score 100; 16th percentile among comparable filings

Details

  • Where the money goes: 53% of revenue deployed · 48.7% of spending went to programs
  • Governance: 4 of 4 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $185K · 8 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $190K reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 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.

  • Review — Financial Efficiency: Mission deployment rate scored 53/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 49/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Sustainability: Operating margin scored 15/100.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.