Black Business Association of Memphis Tn

“The Black Business Association of Memphis BBA is governed by our Board of Directors, a non-compensated, volunteer Board. BBA President, employees and temporary interns are accountable to the Board of Direcotrs, We are also accountable to our funding sources. We provide quarterly, bi-annual and annual reports to our Funders. The BBA Board of Directors determines the Salary of the President/CEO. The President/CEO conducts hiring of staff and determines salaries of employees. The Board of Directors approved annual budget and reviews Financial Statements on quarterly basis during board meetings.”

“The Black Business Association of Memphis BBA is a 501c6 business organization incorporated in 1978 in Memphis Tennessee. BBA serves as a leader in minority business development, with a focus on assisting Black Entrepreneurs, business owners and professionals in the successful navigation and participation of the Memphis MSA business Landscape. BBA serves as an advocacy organization as well as a convener and collaborator for the success of black business growth and development, which is the key to elevating the Memphis economy. In the fiscal year, which ended June 30, 2021, BBA team met focused on building strong organizational systems, processes and programs in order to support the new vision of the BBA board and leadership. We were able to adopt a new contact management system, Chamber Master, in order to better engage and categorize members. Staff developed a new centralized in formation hub in order to assist with file sharing and information continuity. In addition, the team was able to add newe FTE to assist with delivering programs to the marketplace. Lastly, the organization was able to develop new prtnerships with entities such as Mid-South Minority Business Continuum MMBC, University of Memphis, Greater Memphis Chamber, Community LIFT, Memphis Area Minority Contractors Association MAMCA, City of Memphis Office of Business Diversity and Compliance, just to name a few.”

“BBA team serves our members and community through daily one-on-one consultations, where we provide technical assistance to business owners and prospective entrepreneurs. During these meetings our team conducts and in-depth assessment of needs, works to understand vision, evaluate individual capabilities and provide recommendations accordingly. Each year our team works with an average of 25 clients per month. Along with providing technical assistance, we hae developed a new strategic vision entitled Memphis Restart. After surveying the minority and business ecosystem, we determined our highest value porposition is to developoment niche programs aimed at advancing existing business owners and professional talent in three pillars Talent, Acquisition Entrepreneurship and Talent Acquisition.”

“Prior Period Adjustment is the reconcilaiation of the Nike Loan of 20,000 that was originally booked and carried as a restricted deposit and Liability.”

“-1 Rounding requirement represents Other Changes”