U S Black Chamber of Commerce EDC

Nonprofit profile at a glance

EIN
900899831
IRS 990 coverage
2015–2023
Forms available
Form 990 2023, Form 990-EZ 2014
Location
Washington, DC, USA
Phone
2023303026
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Reported finances

Revenue
$3,266,528
Expenses
$2,827,336
Assets
$5,220,248
Liabilities
$538,961

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Ronald Busby (Executive Director)

People named in this filing

  • Aimee Griffin (Secretary)
  • Bridgett Gagne (Treasurer)
  • CHarles O'Neal (Chairman of the Board)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization was formed to assist local Black Chambers of Commerce nationally with small business development and growth and to represent the business interest of African American businesses throughout the US.

What it reported doing in 2023

The Organization was able to provide technical and educational assistance to business owners and aspiring entrepreneurs. In addition, the organization was able to provide micro-grants to outside organizations throughout the year.

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 92
  • Accountability: 65
  • Sustainability: 68
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.5%; rating input score 82
  • Program expense ratio: 95.3%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 14th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 13.4%; rating input score 70; 70th percentile among comparable filings
  • Total-asset coverage ratio: 1.85; rating input score 59; 59th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 60; 60th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 92; 92nd percentile among comparable filings

Growth

  • Program expense growth: 30.4% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: 28.1% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 38.1% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 82.5% of revenue deployed · 95.3% of spending went to programs
  • Governance: 4 of 5 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2.7M in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 8 filing years from 2015 to 2023
  • 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 — Accountability: Governance controls: 4 of 7 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 59/100.