Blk Foundation Inc

Nonprofit profile at a glance

EIN
863099877
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2022
Location
Cambridge, MA, USA
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$614,466
Expenses
$618,690
Assets
$0
Liabilities
$0

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

Leadership & pay

3 people listed

People named in this filing

  • ANGEL ONUOHA ONYEKURU (FOUNDATION MGR)
  • INJIL MUHAMMAD (TRUSTEE)
  • SEVEN RICHMOND (TRUSTEE)

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

BLK Foundation, Inc. the Foundationis a student-run organization created to remediate systemic barriers that impede growth and entrepreneurship in underserved and marginalized communities.

What it reported doing in 2024

BLK Foundation, Inc. the Foundationis a student-run organization created to remediate systemic barriers that impede growth and entrepreneurship in underserved and marginalized communities. The Foundation will provide resources and networking opportunities to underrepresented minority students as well as entrepreneurs and founders of minority-owned and women-owned businesses. The Foundation will further these goals by engaging in the following activities the Programming. Providing coaching, access and resources to established minority owned businesses and minority entrepreneurs2. Providing grants to established minority-owned businesses serving at risk or underfunded communities which will be limited to use exclusively in furtherance of combating community deterioration, relief of the poor, the distressed, and/or the underprivileged and other charitable purposes and3. Providing educational fellowships to minority undergraduate individuals to provide capital to incubate a for-profit business serving certain at-risk or underfunded communities which grants will be limited

Operating model

Revenue model
Donor-supported. 100% 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

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: 89
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 25
  • Growth: 40

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • 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: -0.7%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 139.3% per year; rating input score 100; 100th percentile among comparable filings
  • Asset growth: -200% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.8% of spending went to programs
  • Governance: 3 of 3 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $618K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 2 filed schedules
  • 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.

  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.