Civic Intelligence

Minnesota Black Chamber of Commerce Incorporated

990 • Fiscal year 2014 • EIN 20-0722799

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 16, 2015

401 N Robert StreetSaint Paul, MN 55101-2001

(651) 224-4320

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

79th percentile

0.14x

Higher debt load relative to assets than 79% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

93rd percentile

0.63x

Higher debt load relative to revenue than 93% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Net Margin

58th percentile

6.9%

Higher net margin than 58% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Top Officer Pay

87th percentile

$32,496

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 39.4% of source-year revenue.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Asset Growth

98th percentile

621%

Faster asset growth than 98% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2012 to 2014

Revenue Growth

94th percentile

120%

Faster revenue growth than 94% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2012 to 2014

Assets

Up

$375,141

Up $367,925 (+5099%) from 2012

Net Assets

$323,640

No earlier filing loaded for comparison.

Liabilities

Up

$51,501

Up $51,501 from 2012

Revenue

Up

$82,397

Up $65,416 (+385%) from 2012

Expenses

Up

$76,746

Up $52,643 (+218%) from 2012

Net Income

Up

$5,651

Up $12,773 (+179%) from 2012

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2010: $12,940Liabilities 2010: $02010Assets 2011: $14,338Liabilities 2011: $02011Assets 2012: $7,216Liabilities 2012: $02012Assets 2014: $375,141Liabilities 2014: $51,501Net Assets 2014: $323,6402014Assets 2015: $342,722Liabilities 2015: $1,4482015Assets 2016: $332,481Liabilities 2016: $10,185Net Assets 2016: $322,2962016Assets 2017: $315,350Liabilities 2017: $1,800Net Assets 2017: $313,5502017Assets 2018: $260,594Liabilities 2018: $1,500Net Assets 2018: $259,0942018Assets 2019: $208,060Liabilities 2019: $9,410Net Assets 2019: $198,6502019Assets 2020: $212,401Net Assets 2020: $212,4012020Assets 2021: $180,472Liabilities 2021: $3,527Net Assets 2021: $176,9452021Assets 2022: $347,295Liabilities 2022: $19,981Net Assets 2022: $327,3142022Assets 2023: $716,726Liabilities 2023: $32,265Net Assets 2023: $684,4612023Assets 2024: $1,888,134Liabilities 2024: $38,695Net Assets 2024: $1,849,4392024

Highlighted filing

2014

Assets$375,141
Liabilities$51,501
Net Assets$323,640

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2010: $17,890Expenses 2010: $15,588Net Income 2010: $2,3022010Revenue 2011: $27,939Expenses 2011: $26,541Net Income 2011: $1,3982011Revenue 2012: $16,981Expenses 2012: $24,103Net Income 2012: -$7,1222012Revenue 2014: $82,397Expenses 2014: $76,746Net Income 2014: $5,6512014Revenue 2015: $104,193Expenses 2015: $86,259Net Income 2015: $17,9342015Revenue 2016: $59,272Expenses 2016: $78,250Net Income 2016: -$18,9782016Revenue 2017: $76,905Expenses 2017: $85,651Net Income 2017: -$8,7462017Revenue 2018: $40,560Expenses 2018: $95,016Net Income 2018: -$54,4562018Revenue 2019: $32,611Expenses 2019: $93,055Net Income 2019: -$60,4442019Revenue 2020: $149,907Expenses 2020: $136,156Net Income 2020: $13,7512020Revenue 2021: $114,666Expenses 2021: $112,573Net Income 2021: $2,0932021Revenue 2022: $302,654Expenses 2022: $152,285Net Income 2022: $150,3692022Revenue 2023: $526,065Expenses 2023: $168,918Net Income 2023: $357,1472023Revenue 2024: $1,449,991Expenses 2024: $285,013Net Income 2024: $1,164,9782024

Highlighted filing

2014

Revenue$82,397
Expenses$76,746
Net Income$5,651
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 16, 2015
Return Version
2014v5.0
Gross Receipts
$142,498
Mission and Program Overview

Mission

The minnesota black chamber of commerce is committed to serving the black- owned businesses and their communities through access to education, advocacy and economic development. Our goal is to maximize the potential of every black-owned business, large or small, by providing equitable opportunities for growth at every stage.

Support Network for Black Business Owners

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$285,396$297,148▲ $11,752
Cash and Non-Interest-Bearing Accounts$22,952$67,515▲ $44,563
Other Notes and Loans Receivable, Net$12,500$10,178▼ $2,322
Prepaid Expenses and Deferred Charges$6,570--
Accounts Receivable-$300-
Total Assets$327,418$375,141▲ $47,723
Liabilities
Deferred Revenue$4,500$50,000▲ $45,500
Accounts Payable and Accrued Expenses$4,929$1,501▼ $3,428
Total Liabilities$9,429$51,501▲ $42,072
Net Assets / Fund Balance
Temporarily Rstr Net Assets$315,995$365,832▲ $49,837
Unrestricted Net Assets$1,994$-42,192▼ $44,186
Total Net Assets Fund Balance$317,989$323,640▲ $5,651
Total Liabilities and Net Assets / Fund Balance$327,418$375,141▲ $47,723
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Hargett LeaPresidentFT$32,496-$32,496
Lea Hargettjog Assoc---$32,496$32,496

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$83,243
Program Service Revenue
$275
Investment Income
$796
Other Revenue
$-1,917
All Other Contributions
$77,943
Change in Net Assets
$5,651
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$76,746
Total Fundraising Expense$4,045
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$32,360$4,045$4,045$40,450
Fees for Services Accounting$1,728$5,734$0$7,462
Occupancy$3,000$3,135$0$6,135
Conferences and Meetings$2,500$2,605$0$5,105
Other Expenses$0$1,740$0$1,740
Advertising$1,653$0$0$1,653
Office Expenses$334$1,121$0$1,455
Information Technology$1,279$0$0$1,279
Travel$0$1,251$0$1,251
Insurance$0$1,183$0$1,183
All Other Expenses$735$404$0$1,139
Payments to Affiliates$0$800$0$800
Total Functional Expenses$45,659$27,042$4,045$76,746
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$60,101
Fundraising Gross Income$57,671
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Executive DirectorCompensation for servicesNo$32,496
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Minnesota Black Chamber of Commerce
EIN
20-0722799
Phone
6512244320
Address
401 N Robert Street, Saint Paul, MN 55101-2001

Signing Officer

Name
Jennifer Jackson
Title
Treasurer
Phone
6512244320
Signed
2015-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jennifer Jackson
Formed
2004
Legal Domicile
Mn
Voting Board Members
12
Independent Board Members
11
Employees
0
Volunteers
20

Preparer

Firm
Beatrice David & Associates
Address
800 Washington Ave N STE 310, Minneapolis, MN 55401-1156
Preparer
Wendy B Hines
Phone
6123370178
Supplemental Narrative

Additional Explanations

Pt VI, Line 6

The organization is a membership organization for businesses

Pt VI, Line 11B

The 990 will be shared at a board of director's meeting

Pt VI, Line 12C

The board will discuss conflict of interest when review 990

Pt VI, Line 15A

The board of directors set the salary for the Executive Dir

Form 990EZ, Part I, Line 8

Interest income miscellaneous income

Form 990EZ, Part I, Line 16

Advertising bank service fees donation dues & subscriptions fundraising expense honorariums insurance meeting & conferences parking registration expense supplies supports & affiliations telephone transportation travel expense website

Form 990EZ, Part II, Line 24

Accounts receivable 0. Prepaid expenses 6570. Loan fund receivable 12500.

Form 990EZ, Part II, Line 26

Credit card payable 4930. Prepaid income 4500.

Form 990, Part IX, Line 24F

Gifts & honorariums dues & subscriptions

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IRS990/ProgramServiceRevenueGrp/Desc0Loan Fund Fees
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0275
IRS990/ProgSrvcAccomActy2Grp/Desc0LOAN PROGRAM FOR BLACK BUSINESS OWNERS MBCC RECEIVED FUNDING FOR THE LOAN FUND AND MADE ITS FIRST LOAN TO A TARGETED BUSINESS ENTITY IN 2013.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt010936
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0275
IRS990/ProgSrvcAccomActy3Grp/Desc0SCHOLARSHIP PROGRAM FOR MINORITY STUDENTS NO SCHOLARSHIP OUTLAYS WERE MADE IN 2014.
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt01150
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0362045
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0291
IRS990/PYOtherExpensesAmt052104
IRS990/PYOtherRevenueAmt0416
IRS990/PYProgramServiceRevenueAmt0125
IRS990/PYRevenuesLessExpensesAmt0310773
IRS990/PYTotalExpensesAmt052104
IRS990/PYTotalRevenueAmt0362877
IRS990/QuidProQuoContributionsInd0true
IRS990/QuidProQuoContriDisclInd0true
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt05651
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0132233
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0285396
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0297148
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0141426
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0350290
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt019773
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt030630
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt014534
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0556653
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0796
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0291
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt016
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt044
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt01147
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0275
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0125
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0400
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0796
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0291
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt016
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt044
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01147
IRS990ScheduleA/InvestmentIncomeCYPct00.00210
IRS990ScheduleA/InvestmentIncomePYPct00.00080
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00.99790
IRS990ScheduleA/PublicSupportPY509Pct00.99920
IRS990ScheduleA/PublicSupportTotal170Amt00
IRS990ScheduleA/PublicSupportTotal509Amt0557053
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0141701
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0350415
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt019773
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt030630
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt014534
IRS990ScheduleA/Total509Grp/TotalAmt0557053
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0558200
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt032496
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0LEA HARGETTJOG ASSOC
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt032496
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0Executive Director Compensation was set by the board of directors
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt I Line 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0Lea Hargett dba Jog Assoc
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Executive Director
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt032496
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Compensation for services
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization is a membership organization for businesses
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The 990 will be shared at a board of director's meeting
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The board will discuss conflict of interest when review 990
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The board of directors set the salary for the Executive Dir
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4INTEREST INCOME MISCELLANEOUS INCOME
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ADVERTISING BANK SERVICE FEES DONATION DUES & SUBSCRIPTIONS FUNDRAISING EXPENSE HONORARIUMS INSURANCE MEETING & CONFERENCES PARKING REGISTRATION EXPENSE SUPPLIES SUPPORTS & AFFILIATIONS TELEPHONE TRANSPORTATION TRAVEL EXPENSE WEBSITE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ACCOUNTS RECEIVABLE 0. PREPAID EXPENSES 6570. LOAN FUND RECEIVABLE 12500.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7CREDIT CARD PAYABLE 4930. PREPAID INCOME 4500.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8GIFTS & HONORARIUMS DUES & SUBSCRIPTIONS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990EZ, Part I, Line 8
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990EZ, Part I, Line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990EZ, Part II, Line 24
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990EZ, Part II, Line 26
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part IX, Line 24f
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.89$0.04$1.85$1.45$0.29$1.16
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.72$0.03$0.68$0.53$0.17$0.36
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.35$0.02$0.33$0.30$0.15$0.15
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.18$0.00$0.18$0.11$0.11$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.21$0.21$0.15$0.14$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.21$0.01$0.20$0.03$0.09$0.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.26$0.00$0.26$0.04$0.10$0.05
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.32$0.00$0.31$0.08$0.09$0.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.33$0.01$0.32$0.06$0.08$0.02
2015Summary only. Only limited summary data is available for this year.$0.34$0.00$0.10$0.09$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.38$0.05$0.32$0.08$0.08$0.01
2012Summary only. Only limited summary data is available for this year.$0.01$0.00$0.02$0.02$0.01
2011Summary only. Only limited summary data is available for this year.$0.01$0.00$0.03$0.03$0.00
2010Summary only. Only limited summary data is available for this year.$0.01$0.00$0.02$0.02$0.00
Peer Organizations

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