Florida Black Business Investment

Nonprofit profile at a glance

EIN
020620165
IRS 990 coverage
2010–2010
Forms available
Form 990 2010
Location
Tallahassee, FL, USA
Phone
8508780275
Rating confidence
Limited
Sector
Urban, Community Economic Development

Reported finances

Revenue
$473,864
Expenses
$262,911
Assets
$394,990
Liabilities
$85,910

Source: IRS Form 990. Selected filing: tax year 2010. Amounts in USD.

Leadership & pay

9 people listed

Source: IRS Form 990. Selected filing: tax year 2010. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To create and enhance the development and expansion of black business enterprises.

What it reported doing in 2010

Establish training and educational programs. Serve as a clearinghouse for information and source for technical assistance by creating a network throughout the state; develop strategies to increase financial institutions' investment in small and black-owned businesses; evaluate the unmet need for capital by black business enterprise in the state and provide a 5-year projection; create partnerships between federal, state and local government, and private enterprises to aid in the development and expansion of black business enterprises.

Operating model

Revenue model
Grant-funded. 89% of the money available for current operations came from government grants.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 100
  • Accountability: 84
  • Sustainability: 65
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 59th 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; 64th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 44.5%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 1.5; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.22; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 19.8%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 8 of 8 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $222K in reported program spending
  • Leadership: top reported pay $52K · 9 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.