Institute for Black Charities Inc

Nonprofit profile at a glance

EIN
522018919
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Charlotte, NC, USA
Phone
2027225050
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community Improvement, Capacity Building N.E.C.

Official website

Reported finances

Revenue
$49,000
Expenses
$27,990
Assets
$108,775
Liabilities
$0

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

Leadership & pay

5 people listed

People named in this filing

  • TIMOTHY BRACEY (CHAIRMAN)
  • THOMAS CARPENTER (DIRECTOR)
  • MICHELLE FULBRIGHT (SECRETARYTREASURER)

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

To support charitable programs that improve the living conditions for black children, families and impoverished communities worldwide through economic initiatives, crisis relief efforts, educational initiatives, training/outreach and referral services.

What it reported doing in 2024

Provided technical assistance to charitable non profit organizations in the areas of organizational development, assessment and strategic planning, financial management and accountability, marketing and technology. Hundreds of organizations benefited. Additionally, provided funding to individuals and humanitarian needs to foreign countries; food, shelter and self-help programs to developing countries. Provided technical assistgance, development planning and funding to projects benefiting thousands of individuals. Further, served the needs of developing countires with humanitarian assistance and community program initiatives.

Operating model

Revenue model
Donor-supported. 97% 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

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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 100
  • Accountability: 100
  • Sustainability: 68
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 51%; rating input score 51
  • Program expense ratio: 89.2%; rating input score 89
  • 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; 64th percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 42.9%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 3.89; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -11.6% per year; rating input score 0; 26th percentile among comparable filings
  • Revenue growth: -7.4% per year; rating input score 0; 37th percentile among comparable filings
  • Asset growth: 3.6% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 51% of revenue deployed · 89.2% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $25K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 51/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.