Civic Intelligence

Initiative for a Competitive Inner City Inc

EIN 13-3772904 • 501(c)3 • Roxbury, MA

Profile

Icic drives inclusive economic prosperity in under-resourced communities through innovative research and programs to create jobs, income, and wealth for local residents.

PO Box 191297Roxbury, MA 02119

www.icic.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

25th percentile

0.03x

Higher debt load relative to assets than 25% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

19th percentile

0.04x

Higher debt load relative to revenue than 19% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

74th percentile

20%

Higher net margin than 74% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

85th percentile

$373,300

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 3.8% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

80th percentile

18%

Faster asset growth than 80% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

53rd percentile

8.7%

Faster revenue growth than 53% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$13,730,460

Up $2,109,997 (+18%) from 2023

Liabilities

Up

$439,834

Up $5,444 (+1.3%) from 2023

Net Assets

Up

$13,290,626

Up $2,104,553 (+19%) from 2023

Revenue

Up

$9,857,953

Up $787,936 (+8.7%) from 2023

Expenses

Down

$7,891,644

Down $1,775,929 (-18%) from 2023

Net Income

Up

$1,966,309

Up $2,563,865 (+429%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2010: $3,815,946Liabilities 2010: $285,557Net Assets 2010: $3,530,3892010Assets 2011: $3,525,798Liabilities 2011: $371,069Net Assets 2011: $3,154,7292011Assets 2012: $3,076,909Liabilities 2012: $302,561Net Assets 2012: $2,774,3482012Assets 2013: $3,353,884Liabilities 2013: $276,554Net Assets 2013: $3,077,3302013Assets 2014: $4,538,815Liabilities 2014: $294,096Net Assets 2014: $4,244,7192014Assets 2015: $5,386,945Liabilities 2015: $176,360Net Assets 2015: $5,210,5852015Assets 2016: $6,383,385Liabilities 2016: $121,956Net Assets 2016: $6,261,4292016Assets 2017: $7,586,695Liabilities 2017: $206,187Net Assets 2017: $7,380,5082017Assets 2018: $6,721,684Liabilities 2018: $330,500Net Assets 2018: $6,391,1842018Assets 2019: $7,291,297Liabilities 2019: $243,736Net Assets 2019: $7,047,5612019Assets 2020: $10,365,078Liabilities 2020: $718,715Net Assets 2020: $9,646,3632020Assets 2021: $11,137,097Liabilities 2021: $532,736Net Assets 2021: $10,604,3612021Assets 2022: $11,661,853Liabilities 2022: $537,050Net Assets 2022: $11,124,8032022Assets 2023: $11,620,463Liabilities 2023: $434,390Net Assets 2023: $11,186,0732023Assets 2024: $13,730,460Liabilities 2024: $439,834Net Assets 2024: $13,290,6262024

Highlighted filing

2024

Assets$13,730,460
Liabilities$439,834
Net Assets$13,290,626

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2010: $3,518,6032010Expenses 2011: $4,349,0902011Expenses 2012: $4,070,3092012Revenue 2013: $3,496,981Expenses 2013: $3,650,057Net Income 2013: -$153,0762013Revenue 2014: $3,469,061Expenses 2014: $2,819,604Net Income 2014: $649,4572014Revenue 2015: $3,149,267Expenses 2015: $3,106,759Net Income 2015: $42,5082015Revenue 2016: $4,379,590Expenses 2016: $3,490,251Net Income 2016: $889,3392016Revenue 2017: $4,932,326Expenses 2017: $4,348,578Net Income 2017: $583,7482017Revenue 2018: $5,543,213Expenses 2018: $5,824,778Net Income 2018: -$281,5652018Revenue 2019: $6,529,016Expenses 2019: $6,280,711Net Income 2019: $248,3052019Revenue 2020: $8,178,746Expenses 2020: $5,371,662Net Income 2020: $2,807,0842020Revenue 2021: $6,700,624Expenses 2021: $6,336,872Net Income 2021: $363,7522021Revenue 2022: $11,628,829Expenses 2022: $9,988,962Net Income 2022: $1,639,8672022Revenue 2023: $9,070,017Expenses 2023: $9,667,573Net Income 2023: -$597,5562023Revenue 2024: $9,857,953Expenses 2024: $7,891,644Net Income 2024: $1,966,3092024

Highlighted filing

2024

Revenue$9,857,953
Expenses$7,891,644
Net Income$1,966,309

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.7$0.44$13.3$9.86$7.89$1.97
2023Detailed filing. Detailed filing data is available for this year.$11.6$0.43$11.2$9.07$9.67$0.60
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.7$0.54$11.1$11.6$9.99$1.64
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.1$0.53$10.6$6.70$6.34$0.36
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.4$0.72$9.65$8.18$5.37$2.81
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.29$0.24$7.05$6.53$6.28$0.25
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.72$0.33$6.39$5.54$5.82$0.28
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.59$0.21$7.38$4.93$4.35$0.58
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.38$0.12$6.26$4.38$3.49$0.89
2015Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$5.39$0.18$5.21$3.15$3.11$0.04
2014Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$4.54$0.29$4.24$3.47$2.82$0.65
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$3.35$0.28$3.08$3.50$3.65$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.08$0.30$2.77$4.07
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.53$0.37$3.15$4.35
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.82$0.29$3.53$3.52
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 2, 2025
Return Version
2024v5.2
Gross Receipts
$10,872,120
Mission and Program Overview

Mission

The initiative for a competitive inner city (icic) is a nonprofit research and strategy organization and the leading authority on u.s. Inner city economies and the businesses that thrive there. Founded in 1994 by harvard business school professor michael porter, icic expands inner city economies by providing businesses, governments and investors with the most comprehensive and actionable information in the field about urban market opportunities. Icic's unique knowledge and expertise about inner city success factors and thriving companies is developed from specialized urban networks and path-breaking research.icic's mission is to drive economic prosperity in america's inner cities through private sector investment to create jobs, income and wealth for local residents.

Icic drives inclusive economic prosperity in under-resourced communities through innovative research and programs to create jobs, income, and wealth for local residents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$6,051,097$6,898,557▲ $847,460
Savings and Temporary Cash Investments$4,460,361$5,081,746▲ $621,385
Accounts Receivable$808,588$1,007,851▲ $199,263
Cash and Non-Interest-Bearing Accounts$141,557$631,403▲ $489,846
Prepaid Expenses and Deferred Charges$59,814$59,454▼ $360
Investments Program Related$29,850$17,744▼ $12,106
Land, Buildings, and Equipment, Net$26,927$8,732▼ $18,195
Total Assets$11,620,463$13,730,460▲ $2,109,997
Other Assets Total$42,269$24,973▼ $17,296
Liabilities
Accounts Payable and Accrued Expenses$391,421$339,661▼ $51,760
Deferred Revenue-$74,000-
Other Liabilities$42,969$26,173▼ $16,796
Total Liabilities$434,390$439,834▲ $5,444
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$9,137,122$10,139,961▲ $1,002,839
Net Assets With Donor Restrictions$2,048,951$3,150,665▲ $1,101,714
Total Net Assets Fund Balance$11,186,073$13,290,626▲ $2,104,553
Total Liabilities and Net Assets / Fund Balance$11,620,463$13,730,460▲ $2,109,997

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$8,732$106,766$115,498
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Steve GrossmanChief Executive OfficerFT$359,500$13,800$373,300
Howard WialSr. VP of ResearchFT$221,451$17,169$238,620
Oksana BondarChief Financial OfficerFT$192,093$14,080$206,173
Elizabeth PughDevelopment DirectorFT$152,414$46,130$198,544
Sonia MoinSenior Director (until 11/1/24)FT$156,714$4,020$160,734
Diego Portillo-mazalProgram DirectorFT$145,956$14,177$160,133
Elizabeth BernalDirector of Talent & CultureFT$131,385$26,260$157,645
Nadia LarasatiProgram DirectorFT$123,137$21,346$144,483

Board Members and Trustees

NameTitle
Ronald HomerChairman
Michael PorterFounder & Chairman Emeritus
Barry WhiteVice Chairman & Treasurer
Barbara BerkeBoard Member
Bo MenkitiBoard Member
Caron NgBoard Member
Darryl SettlesBoard Member
Dennis GreenBoard Member
George GendronBoard Member
Jair LynchBoard Member
Jennifer PinckBoard Member
Judy PagliucaBoard Member
Kevin ProkopBoard Member
Kim SawyerBoard Member
Rena ClarkBoard Member
Rosa SantanaBoard Member
Sonia SmythBoard Member
Stephanie HickmanBoard Member
Susan SchiroBoard Member
Willie WoodsBoard Member
Lynda ApplegateBoard Member (until 12/24)
Brenda MckenzieSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Strategic Marketing ConsultingInterim Director Of Marketing & Communic31 GREAT LAKE DRIVE, Sudbury, MA 01776$138,600
Pacific Community VenturesMentorship/coaching1714 FRANKLIN STREET SUITE 100-347, Oakland, CA 94612$138,500
Forward Planning & SolutionsBfg Curriculum Development And Implement6513 EVENSONG MEWS, Columbia, MD 21044$120,000
Revenue and Support

Revenue Composition

Contributions and Grants
$8,914,120
Program Service Revenue
$89,000
Investment Income
$854,833
Other Revenue
$0
All Other Contributions
$8,664,120
Change in Net Assets
$1,966,309

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded863$152,728Fair Market Value (FMV)
Total Noncash Contributions863$152,728-

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,857,953
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$246,440
Total Revenue per Audited Statements
$10,104,393
Total Revenue per Form 990
$9,857,953
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,297,678
Other Expenses$2,314,646
Total Fundraising Expense$527,629
Grants and Similar Amounts Paid$279,320
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,862,777$451,447$242,785$3,557,009
Current Officers, Directors, Trustees, and Key Employees$298,543$340,007$186,650$825,200
Fees for Services Other$660,180$30,989$2,041$693,210
Other Employee Benefits$401,385$83,473$16,946$501,804
Advertising$421,909--$421,909
Payroll Taxes$230,729$56,884$30,706$318,319
Office Expenses$226,269$20,888$6,512$253,669
Travel$219,214$1,480$13,519$234,213
Grants to Domestic Individuals$204,000--$204,000
Pension Plan Contributions$80,376$9,705$5,265$95,346
Fees for Services Management$79,035$8,308$3,271$90,614
Foreign Grants$75,320--$75,320
Fees for Services Accounting$33,767$5,620$2,213$41,600
Occupancy$19,866$3,869$1,326$25,061
Depreciation Depletion$14,691$2,514$990$18,195
Insurance$14,313$2,551$965$17,829
Other Expenses$8,525$2,146$1,951$12,622
Conferences and Meetings$5,650$2,362$767$8,779
Total Functional Expenses$6,305,988$1,058,027$527,629$7,891,644

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$7,999,840
Expenses per Audited Statements$7,891,644
Total Expenses per Form 990$7,891,644
Expenses Not Reported on Form 990$108,196
Expenses Not Reported on Financial Statements$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$75,320

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
North America - Canada and Mexico, But Not the United StatesGrants to Recipients Located in Canada-00$75,320
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$26,173
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The 990 is provided by email to the board of directors before it is filed.

Form 990, Part VI, Section B, Line 12C

Annually all board members and key employees must fill out a conflict of interest questionnaire. These questionnaires are maintained by fiscal office.

Form 990, Part VI, Section B, Line 15

The ceo's compensation adjustment is determined by the board of directors and is based on comparability data, performance, and financial limitations of the organization. The annual compensation adjustments for key employees follow the same procedures as compensation adjustments for all other employees. It's based on one's performance, internal and external equity, and financial limitations of the organization. This process is documented by performance evaluation paperwork

Form 990, Part VI, Section C, Line 19

The financial statements are available on icic's website, on www.guidestar.org, and upon request. Icic's governing documents and conflict of interest policies are available upon request.

Filing and Contact Details

Filer

Filer Name
Initiative for a Competitive Inner
EIN
13-3772904
Phone
6172381740
Address
PO BOX 191297, ROXBURY, MA 02119

Signing Officer

Name
Steve Grossman
Title
CEO
Phone
6172381740
Signed
2025-10-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steve Grossman
Formed
1994
Legal Domicile
De
Voting Board Members
22
Independent Board Members
21
Employees
63
Volunteers
20

Preparer

Firm
Aafcpas Inc
Address
50 WASHINGTON STREET, WESTBOROUGH, MA 01581
Preparer
Caitlin Limoges CPA
Phone
5083669100
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

Icic accounts for uncertainty in income taxes in accordance with asc topic, income taxes. This standard clarifies the accounting for uncertainty in tax positions and prescribes a recognition threshold and measurement attribute for the financial statements regarding a tax position taken or expected to be taken in a tax return. Icic has determined that there are no uncertain tax positions which qualify for either recognition or disclosure in the financial statements at december 31, 2024. Icic's information returns are subject to examination by the federal and state jurisdictions.

Raw XML AppendixShowing 400 of 833 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt0391421
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0339661
IRS990/AccountsReceivableGrp/BOYAmt0808588
IRS990/AccountsReceivableGrp/EOYAmt01007851
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0ICIC DRIVES INCLUSIVE ECONOMIC PROSPERITY IN UNDER-RESOURCED COMMUNITIES THROUGH INNOVATIVE RESEARCH AND PROGRAMS TO CREATE JOBS, INCOME, AND WEALTH FOR LOCAL RESIDENTS.
IRS990/AdvertisingGrp/ProgramServicesAmt0421909
IRS990/AdvertisingGrp/TotalAmt0421909
IRS990/AllOtherContributionsAmt08664120
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IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0OKSANA BONDAR ICIC INC
IRS990/BooksInCareOfDetail/PhoneNum06172381740
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0PO BOX 191297
IRS990/BooksInCareOfDetail/USAddress/CityNm0ROXBURY
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd002119
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IRS990/CollectionsOfArtInd00
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IRS990/CompensationProcessOtherInd01
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IRS990/ConservationEasementsInd00
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IRS990/ContractorCompensationGrp/CompensationAmt1138500
IRS990/ContractorCompensationGrp/CompensationAmt2120000
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IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt26513 EVENSONG MEWS
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0SUDBURY
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm1OAKLAND
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm2COLUMBIA
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0MA
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IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd221044
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt0STRATEGIC MARKETING CONSULTING
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt1PACIFIC COMMUNITY VENTURES
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt2FORWARD PLANNING & SOLUTIONS
IRS990/ContractorCompensationGrp/ServicesDesc0INTERIM DIRECTOR OF MARKETING & COMMUNIC
IRS990/ContractorCompensationGrp/ServicesDesc1MENTORSHIP/COACHING
IRS990/ContractorCompensationGrp/ServicesDesc2BFG CURRICULUM DEVELOPMENT AND IMPLEMENT
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IRS990/CYTotalExpensesAmt07891644
IRS990/CYTotalFundraisingExpenseAmt0527629
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt09857953
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd01
IRS990/DeferredRevenueGrp/EOYAmt074000
IRS990/DelegationOfMgmtDutiesInd00
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IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt02514
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IRS990/Desc0THE PROGRAM CONSISTS OF EIGHT INITIATIVES: INNER CITY CAPITAL CONNECTIONS, 10,000 SMALL BUSINESSES, BLACK IN BUSINESS, CULTIVATE SMALL BUSINESS, INNER CITY 100, BUILDING FOR GROWTH, AI INITIATIVE AND MANUFACTURING ACCELERATOR PROGRAM. PROGRAM I, INITIATIVE 1. INNER CITY CAPITAL CONNECTIONSINNER CITY CAPITAL CONNECTIONS (ICCC) IS A TUITION-FREE EXECUTIVE LEADERSHIP TRAINING PROGRAM DESIGNED TO HELP ESTABLISHED SMALL AND MEDIUM SIZED BUSINESSES IN UNDER-RESOURCED COMMUNITIES BUILD CAPACITY AND RESILIENCY FOR SUSTAINABLE LONG-TERM REVENUE GROWTH, PROFITABILITY AND LOCAL JOB CREATION. ICCC PROVIDES THREE CRITICAL ELEMENTS: CAPACITY-BUILDING EDUCATION, ONE-ON-ONE COACHING AND CONNECTIONS TO CAPITAL AND CAPITAL PROVIDERS.SINCE 2005, THE PROGRAM HAS SERVED MORE THAN 7,300 BUSINESSES. THOSE BUSINESSES HAVE AVERAGED 174% REVENUE GROWTH, CREATED 29,000 NEW JOBS, AND RAISED OVER $2.6 BILLION IN CAPITAL SINCE PARTICIPATING IN ICCC.PROGRAM I, INITIATIVE 2. 10,000 SMALL BUSINESSESICIC PARTNERS WITH GOLDMAN SACHS TO RECRUIT AND SELECT HIGH-POTENTIAL ENTREPRENEURS FOR 10,000 SMALL BUSINESSES. THIS INITIATIVE HELPS SMALL BUSINESS OWNERS CREATE JOBS AND ECONOMIC OPPORTUNITIES BY PROVIDING THEM WITH GREATER ACCESS TO BUSINESS EDUCATION, FINANCIAL CAPITAL AND BUSINESS SUPPORT SERVICES. TO DATE, THE PROGRAM HAS SERVED OVER 17,000 SMALL BUSINESSES FROM ALL 50 STATES, DC AND PUERTO RICO. GRADUATES OF THE PROGRAM HAVE SEEN INCREASED REVENUE AND 85% ARE ACTIVE IN ALUMNI GROUPS AS MENTORS OR DOING BUSINESS WITH OTHER ALUMNI.PROGRAM I, INITIATIVE 3. BLACK IN BUSINESSSINCE 2009, ICIC HAS SERVED AS THE NATIONAL OUTREACH AND RECRUITMENT PARTNER FOR GOLDMAN SACHS' WIDELY IMPACTFUL 10,000 SMALL BUSINESSES INITIATIVE. THE PARTNERSHIP EXPANDED ITS REACH TO BETTER SERVE SOLE PROPRIETORS WITH THE CREATION OF THE ONE MILLION BLACK WOMEN: BLACK IN BUSINESS PROGRAM. BLACK IN BUSINESS IS A FREE BUSINESS EDUCATION PROGRAM DEDICATED TO EQUIPPING SOLE PROPRIETORS WITH THE TOOLS NECESSARY TO TURN THEIR BUSINESS POTENTIAL INTO BUSINESS GROWTH. THE PROGRAM HELPS SOLE PROPRIETORS LEARN HOW TO PRICE THEIR PRODUCT OR SERVICE, HIRE THEIR FIRST EMPLOYEE, UNDERSTAND THEIR FINANCES, AND SO MUCH MORE. THE CURRICULUM WAS DESIGNED IN PARTNERSHIP WITH THE NYU STERN SCHOOL OF BUSINESS AND IS DELIVERED THROUGH BOTH IN-PERSON SESSIONS AT GOLDMAN SACHS IN NYC AND VIRTUAL SESSIONS OVER 10 WEEKS, BOTH AT NO COST TO PARTICIPANTS ACROSS THE COUNTRY. THE PROGRAM HAS GRADUATED OVER 1,000 PARTICIPANTS ACROSS 7 COHORTS SINCE ITS LAUNCH IN MAY 2022.PROGRAM I, INITIATIVE 4. CULTIVATE SMALL BUSINESSSANTANDER'S AWARD-WINNING CULTIVATE SMALL BUSINESS HELPS EARLY-STAGE ENTREPRENEURS BUILD AND SUSTAIN BUSINESSES IN THE FOOD INDUSTRY, WITH A FOCUS ON HISTORICALLY UNDERSERVED FOUNDERS IN LOW-TO-MODERATE INCOME COMMUNITIES. CULTIVATE IS A FREE 12-WEEK MBA-STYLE PROGRAM THAT PROVIDES A CUSTOMIZED CURRICULUM THROUGH LIVE VIRTUAL CLASSES. SUCCESSFUL GRADUATES WILL LEAVE THE PROGRAM WITH A FULLY FORMULATED BUSINESS PLAN AND PITCH, A STRONG GRASP ON THEIR TARGET MARKET, FINANCIALS AND GROWTH GOALS, AND UP TO $20,000 IN CAPITAL GRANTS.PROGRAM I, INITIATIVE 5. INNER CITY 100THE INNER CITY 100 (IC100) IS AN ANNUAL AWARD THAT RECOGNIZES THE 100 FASTEST-GROWING COMPANIES IN UNDER-RESOURCED COMMUNITIES ACROSS THE NATION. THE AWARD BENEFITS INCLUDE NATIONAL AND LOCAL MEDIA COVERAGE, EXCLUSIVE NETWORKING OPPORTUNITIES, AND THE OPPORTUNITY TO BE MATCHED WITH AN EXPERT BUSINESS MENTOR. THE 2024 IC100 WINNERS REPRESENTED 22 INDUSTRIES AND 56 CITIES AND EXPERIENCED AN AVERAGE 4-YEAR REVENUE GROWTH OF 347%.PROGRAM I, INITIATIVE 6, BUILDING FOR GROWTHBUILDING FOR GROWTH (BFG) IS A NATIONAL, ONLINE, TUITION-FREE EXECUTIVE EDUCATION PROGRAM THAT HELPS CONSTRUCTION CONTRACTORS, PRIMARILY BIPOC-OWNED, AND/OR WOMAN-OWNED, AND/OR VETERAN-OWNED, AND/OR LOCATED IN UNDER-RESOURCED COMMUNITIES, BUILD CAPACITY AND DEVELOP SUSTAINABLE GROWTH STRATEGIES. THE BFG PROGRAM LAUNCHED ITS INAUGURAL COHORT IN 2022, AND SINCE THEN HAS SERVED 2
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHIEF EXECUTIVE OFFICER
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IRS990/Form990PartVIISectionAGrp/TitleTxt24SR. VP OF RESEARCH
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IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR OF TALENT & CULTURE
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IRS990/MissionDesc0ICIC DRIVES INCLUSIVE ECONOMIC PROSPERITY IN UNDER-RESOURCED COMMUNITIES THROUGH INNOVATIVE RESEARCH AND PROGRAMS TO CREATE JOBS, INCOME, AND WEALTH FOR LOCAL RESIDENTS.
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