Civic Intelligence

Blackbox Connect

990 • Fiscal year 2019 • EIN 46-4097971

Jan 01, 2019 to Dec 31, 2019 • Filed on Jul 01, 2020

Organization ProfileBLACKBOX.VC

View Organization Page

101 Grand Ave 6Capitola, CA 95010

(415) 983-1019

Siviq Scores

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

Liabilities / Assets

67th percentile

0.02x

Higher debt load relative to assets than 67% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

63rd percentile

0.01x

Higher debt load relative to revenue than 63% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

59th percentile

7.5%

Higher net margin than 59% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

99th percentile

$147,332

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 42.5% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

70th percentile

18%

Faster asset growth than 70% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

9th percentile

-54%

Faster revenue growth than 9% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets67th percentile

Assets

Up

$127,367

Up $19,730 (+18%) from 2018

Net Assets

Up

$125,138

Up $51,654 (+70%) from 2018

Liabilities

Down

$2,229

Down $31,924 (-93%) from 2018

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin59th percentile

Revenue

Down

$346,601

Down $411,545 (-54%) from 2018

Expenses

Down

$320,545

Down $667,174 (-68%) from 2018

Net Income

Up

$26,056

Up $255,629 (+111%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

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

$300K$200K$100K$0Assets 2016: $289,365Liabilities 2016: $26,068Net Assets 2016: $263,2972016Assets 2018: $107,637Liabilities 2018: $34,153Net Assets 2018: $73,4842018Assets 2019: $127,367Liabilities 2019: $2,229Net Assets 2019: $125,1382019Assets 2020: $5,753Liabilities 2020: $0Net Assets 2020: $5,7532020Assets 2024: $62,022Liabilities 2024: $5,979Net Assets 2024: $56,0432024

Highlighted filing

2019

Assets$127,367
Liabilities$2,229
Net Assets$125,138
Open 2019 Filing

Operations Trend

Revenue Growth9th percentile

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

$1.0M$500K$0-$500KRevenue 2016: $833,102Expenses 2016: $548,948Net Income 2016: $284,1542016Revenue 2018: $758,146Expenses 2018: $987,719Net Income 2018: -$229,5732018Revenue 2019: $346,601Expenses 2019: $320,545Net Income 2019: $26,0562019Revenue 2020: $3Expenses 2020: $119,388Net Income 2020: -$119,3852020Revenue 2024: $120,018Expenses 2024: $67,472Net Income 2024: $52,5462024

Highlighted filing

2019

Revenue$346,601
Expenses$320,545
Net Income$26,056
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jul 1, 2020
Return Version
2019v5.1
Gross Receipts
$346,601
Mission and Program Overview

Mission

Blackbox provides intensive programs and services that connect high-potential founders with the resources, knowledge, and networks they need to succeed and scale their impact. Our mission is to ensure every entrepreneur, regardless of geographic location, has a shot at creating shared value for the global economy. Our entrepreneur-first approach is grounded in two fundamental beliefs: that entrepreneurs are the core engine for global economic growth, and that they need someone in their corner.

Blackbox provides intensive programs and services that connect high-potential founders with the resources, knowledge, and networks they need to succeed and scale their impact. Our mission is to ensure every entrepreneur, regardless of geographic location, has a shot at creating shared value for the global economy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$47,906$60,020▲ $12,114
Savings and Temporary Cash Investments$46,504$50,237▲ $3,733
Intangible Assets$11,163$11,163→ $0
Accounts Receivable-$5,947-
Land, Buildings, and Equipment, Net$2,064$0▼ $2,064
Total Assets$107,637$127,367▲ $19,730
Liabilities
Accounts Payable and Accrued Expenses$34,153$2,229▼ $31,924
Total Liabilities$34,153$2,229▼ $31,924
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$73,484$125,138▲ $51,654
Total Net Assets Fund Balance$73,484$125,138▲ $51,654
Total Liabilities and Net Assets / Fund Balance$107,637$127,367▲ $19,730

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$0$5,555$5,555
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Fadi BisharaFounder, CEO, DirectorFT$140,000$7,332$147,332
Revenue and Support

Revenue Composition

Contributions and Grants
$15,000
Program Service Revenue
$331,567
Investment Income
$34
Other Revenue
$0
All Other Contributions
$15,000
Change in Net Assets
$26,056
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$217,409
Other Expenses$103,136
Total Fundraising Expense$9
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$117,238$71,625-$188,863
Fees for Services Other$16,761$12,928-$29,689
Information Technology-$22,101$9$22,110
Travel$6,646$10,522-$17,168
Payroll Taxes$9,729$5,339-$15,068
Fees for Services Accounting-$10,130-$10,130
Office Expenses-$8,564-$8,564
Other Employee Benefits$4,692$3,699-$8,391
Pension Plan Contributions$2,839$2,248-$5,087
Insurance-$3,075-$3,075
Depreciation Depletion-$2,064-$2,064
Other Expenses$505$592-$592
Total Functional Expenses$165,068$155,468$9$320,545
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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 A, Line 8B

“There are no committees with the authority to act on behalf of the board of directors.”

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

“The 990 is provided to the president of the organization who will circulate the tax return with the board of directors prior to filing.”

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

“The organziation requires all board members to annually fill out the conflict of interest policy. The president monitor this activity to make sure it is happening.”

Form 990, Part VI, Section B, Line 15

“The board determines the executive salary by using market rates for similar positions.”

Form 990, Part VI, Section C, Line 19

“990 will be made available upon request.”

Filing and Contact Details

Filer

Filer Name
Blackbox Connect Inc
EIN
46-4097971
Phone
4159831019
Address
101 GRAND AVE 6, CAPITOLA, CA 95010

Signing Officer

Name
Fadi Bishara
Title
Founder & CEO
Phone
4159831019
Signed
2020-07-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Fadi Bishara
Formed
2013
Legal Domicile
CA
Voting Board Members
1
Independent Board Members
0
Employees
4
Volunteers
0

Preparer

Firm
Aprio Llp
Address
5 CONCOURSE PARKWAY SUITE 1000, ATLANTA, GA 30328
Preparer
Melisa Beauchamp Ea
Phone
4048929651
Raw XML Appendix333 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.

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IRS990/ActivityOrMissionDesc0BLACKBOX PROVIDES INTENSIVE PROGRAMS AND SERVICES THAT CONNECT HIGH-POTENTIAL FOUNDERS WITH THE RESOURCES, KNOWLEDGE, AND NETWORKS THEY NEED TO SUCCEED AND SCALE THEIR IMPACT. OUR MISSION IS TO ENSURE EVERY ENTREPRENEUR, REGARDLESS OF GEOGRAPHIC LOCATION, HAS A SHOT AT CREATING SHARED VALUE FOR THE GLOBAL ECONOMY.
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IRS990/Desc0BLACKBOX CONNECTTHROUGH OUR FLAGSHIP EXPERIENCE IN SILICON VALLEY, BLACKBOXERS:*BUILD RELATIONSHIPS WITH SUCCESSFUL ENTREPRENEURS, EXPERIENCED VENTURE CAPITALISTS, AND SUBJECT MATTER EXPERTS;*ACCESS RESOURCES TO FUEL THEIR GLOBAL EXPANSION;*AND EMERGE AS DRIVERS OF GROWTH CAPABLE OF TRANSFORMING STARTUP ECOSYSTEMS INTO HUBS OF INNOVATION.SINCE 2011, MORE THAN 6,000 FOUNDERS HAVE APPLIED TO BLACKBOX CONNECT, AND OVER 400 FOUNDERS FROM 60+ COUNTRIES HAVE BEEN SELECTED TO JOIN OUR WORLDWIDE NETWORK. IN THAT TIME, WE'VE CELEBRATED 14 EXITS TO FUEL THE GROWTH OF THE GLOBAL VENTURE ECOSYSTEM, 68% OF ALUMNI HAVE GONE ON TO RAISE ADDITIONAL FUNDING, 89% CONTINUE TO GROW AND THRIVE, AND THE COMBINED VALUATION OF THE NETWORK HAS REACHED ~$1BILLION. THIRTY-EIGHT PERCENT OF BLACKBOXERS ARE FEMALE FOUNDERS, WITH OVER 45% OF ASSOCIATED STARTUPS HAVING AT LEAST ONE FEMALE FOUNDING TEAM MEMBER.IN 2018, 46 RISING CEO/FOUNDERS FROM 26 COUNTRIES PARTICIPATED IN THIS TWO-WEEK INTENSIVE RESIDENTIAL PROGRAM.EACH PROGRAM CYCLE, APPROXIMATELY 45 EXPERT SPEAKERS AND MENTORS FROM THE SILICON VALLEY COMMUNITY SHARE THEIR TIME, EXPERTISE, AND INSIGHTS WITH BLACKBOXERS, PROVIDING AN UNPARALLELED OPPORTUNITY TO LEARN AND FORGE RELATIONSHIPS WITH SOME OF THE TOP ENTREPRENEURIAL LEADERS IN THE WORLD.
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IRS990/MissionDesc0BLACKBOX PROVIDES INTENSIVE PROGRAMS AND SERVICES THAT CONNECT HIGH-POTENTIAL FOUNDERS WITH THE RESOURCES, KNOWLEDGE, AND NETWORKS THEY NEED TO SUCCEED AND SCALE THEIR IMPACT. OUR MISSION IS TO ENSURE EVERY ENTREPRENEUR, REGARDLESS OF GEOGRAPHIC LOCATION, HAS A SHOT AT CREATING SHARED VALUE FOR THE GLOBAL ECONOMY. OUR ENTREPRENEUR-FIRST APPROACH IS GROUNDED IN TWO FUNDAMENTAL BELIEFS: THAT ENTREPRENEURS ARE THE CORE ENGINE FOR GLOBAL ECONOMIC GROWTH, AND THAT THEY NEED SOMEONE IN THEIR CORNER.
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IRS990/ProgSrvcAccomActy2Grp/Desc0BLACKBOX IGNITE, OUR THREE-DAY IN-COUNTRY PROGRAM, IS A CO-CREATION OPPORTUNITY AVAILABLE TO VALUE-ALIGNED STARTUP COMMUNITIES, INSTITUTIONAL PARTNERS, AND OTHERS SEEKING TO EXPAND THEIR IMPACT ON THEIR LOCAL OR REGIONAL ENTREPRENEURIAL ECOSYSTEM.WITH HANDPICKED SPEAKERS AND MENTORS FROM OUR SILICON VALLEY NETWORK, WE WORK WITH YOUR TEAM TO CREATE AN EXPERIENCE THAT AMPLIFIES YOUR VISIBILITY AS AN ECOSYSTEM LEADER, ADDS VALUE TO YOUR STARTUP COMMUNITY, AND LEVELS UP YOUR IMPACT ON YOUR TARGET COMMUNITY.IN 2018, BLACKBOX PARTNERED WITH UNIVERSITIES, GOVERNMENT-BACKED ENTREPRENEURSHIP INITIATIVES, STARTUP CONFERENCES, AND INDEPENDENT ACCELERATORS TO EXECUTE SIX (2) BLACKBOX IGNITE PROGRAMS IN LEBANON AND TURKEY.OVER THE PAST SEVEN YEARS, WE'VE BEEN PROUD TO ELEVATE AND EMPOWER MORE THAN 400 ENTREPRENEURS ACROSS 60+ COUNTRIES TO REACH THEIR FULL POTENTIAL. WE'VE BEEN HUMBLED BY THE IMPACT OUR PROGRAMS HAVE HAD ON THE LIVES OF BLACKBOXERS, WHOSE COMPANIES NOT ONLY SOAR TO NEW HEIGHTS UNDER THEIR RENEWED LEADERSHIP, BUT WHO EMERGE AS ECOSYSTEM LEADERS AND DRIVERS OF ECONOMIC OPPORTUNITY.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS PROVIDED TO THE PRESIDENT OF THE ORGANIZATION WHO WILL CIRCULATE THE TAX RETURN WITH THE BOARD OF DIRECTORS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANZIATION REQUIRES ALL BOARD MEMBERS TO ANNUALLY FILL OUT THE CONFLICT OF INTEREST POLICY. THE PRESIDENT MONITOR THIS ACTIVITY TO MAKE SURE IT IS HAPPENING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD DETERMINES THE EXECUTIVE SALARY BY USING MARKET RATES FOR SIMILAR POSITIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4990 WILL BE MADE AVAILABLE UPON REQUEST.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0FOUNDER & CEO
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ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$127,367
Liabilities
$2,229
Net assets
$125,138
Revenue
$346,601
Expenses
$320,545
Net income
$26,056
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.62$0.06$0.56$1.20$0.67$0.53
2020Detailed filing. Detailed filing data is available for this year.$0.06$0.00$0.06$0.00$1.19$1.19
2019Detailed filing. Detailed filing data is available for this year.$1.27$0.02$1.25$3.47$3.21$0.26
2018Summary only. Only limited summary data is available for this year.$1.08$0.34$0.73$7.58$9.88$2.30
2016Detailed filing. Detailed filing data is available for this year.$2.89$0.26$2.63$8.33$5.49$2.84