Civic Intelligence

Black Economic Development Coalition Inc.

990 • Fiscal year 2021 • EIN 65-0159176

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 03, 2022

Organization Profiletfcmiami.org
5120 NW 24th AVENUEMiami, FL 33142

(305) 200-5568

Siviq Scores

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

Liabilities / Assets

86th percentile

0.69x

Higher debt load relative to assets than 86% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

92nd percentile

3.18x

Higher debt load relative to revenue than 92% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

54th percentile

15%

Higher net margin than 54% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

25th percentile

$30,242

Higher top officer pay than 25% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

43rd percentile

7.0%

Faster asset growth than 43% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

4th percentile

-55%

Faster revenue growth than 4% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets86th percentile

Assets

Up

$6,988,116

Up $455,258 (+7.0%) from 2020

Net Assets

Up

$2,196,654

Up $2,242,910 (+4849%) from 2020

Liabilities

Down

$4,791,462

Down $1,787,652 (-27%) from 2020

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin54th percentile

Revenue

Down

$1,506,749

Down $1,821,016 (-55%) from 2020

Expenses

Down

$1,282,057

Down $1,733,593 (-57%) from 2020

Net Income

Down

$224,692

Down $87,423 (-28%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MAssets 2010: $909,750Liabilities 2010: $293,815Net Assets 2010: $615,9352010Assets 2011: $1,063,799Liabilities 2011: $549,351Net Assets 2011: $514,4482011Assets 2012: $1,356,290Liabilities 2012: $1,090,961Net Assets 2012: $265,3292012Assets 2013: $1,789,076Liabilities 2013: $1,753,319Net Assets 2013: $35,7572013Assets 2014: $2,014,140Liabilities 2014: $2,078,968Net Assets 2014: -$64,8282014Assets 2015: $3,098,590Liabilities 2015: $2,314,864Net Assets 2015: $783,7262015Assets 2016: $2,749,745Liabilities 2016: $2,386,241Net Assets 2016: $363,5042016Assets 2017: $2,852,425Liabilities 2017: $3,212,349Net Assets 2017: -$359,8752017Assets 2018: $3,697,447Liabilities 2018: $4,104,246Net Assets 2018: -$406,7992018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019Assets 2020: $6,532,858Liabilities 2020: $6,579,114Net Assets 2020: -$46,2562020Assets 2021: $6,988,116Liabilities 2021: $4,791,462Net Assets 2021: $2,196,6542021Assets 2022: $7,096,450Liabilities 2022: $5,120,273Net Assets 2022: $1,976,1772022Assets 2023: $7,323,352Liabilities 2023: $5,452,186Net Assets 2023: $1,871,1662023Assets 2024: $6,874,179Liabilities 2024: $5,173,441Net Assets 2024: $1,700,7382024

Highlighted filing

2021

Assets$6,988,116
Liabilities$4,791,462
Net Assets$2,196,654
Open 2021 Filing

Operations Trend

Revenue Growth4th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2010: $633,458Expenses 2010: $224,754Net Income 2010: $408,7042010Revenue 2011: $631,245Expenses 2011: $766,022Net Income 2011: -$134,7772011Revenue 2012: $620,379Expenses 2012: $368,694Net Income 2012: $251,6852012Revenue 2013: $933,299Expenses 2013: $902,437Net Income 2013: $30,8622013Revenue 2014: $585,061Expenses 2014: $611,253Net Income 2014: -$26,1922014Revenue 2015: $1,230,172Expenses 2015: $381,618Net Income 2015: $848,5542015Revenue 2016: $377,959Expenses 2016: $798,182Net Income 2016: -$420,2232016Revenue 2017: $526,097Expenses 2017: $606,858Net Income 2017: -$80,7612017Revenue 2018: $780,241Expenses 2018: $825,934Net Income 2018: -$45,6932018Revenue 2019: $0Expenses 2019: $0Net Income 2019: $02019Revenue 2020: $3,327,765Expenses 2020: $3,015,650Net Income 2020: $312,1152020Revenue 2021: $1,506,749Expenses 2021: $1,282,057Net Income 2021: $224,6922021Revenue 2022: $791,216Expenses 2022: $946,968Net Income 2022: -$155,7522022Revenue 2023: $923,114Expenses 2023: $1,062,639Net Income 2023: -$139,5252023Revenue 2024: $811,665Expenses 2024: $982,100Net Income 2024: -$170,4352024

Highlighted filing

2021

Revenue$1,506,749
Expenses$1,282,057
Net Income$224,692
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 3, 2022
Return Version
2021v4.0
Gross Receipts
$1,506,749
Mission and Program Overview

Mission

Provide technical assistance and loans to small businesses

Administer's loan programs who's purpose is to provide small businesses and microenterprises in miami dade county the financing and technical assistance needed to assist with job creation, equipment purchases and working capital

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$6,110,680$6,561,624▲ $450,944
Pledges and Grants Receivable$404,945$393,706▼ $11,239
Cash and Non-Interest-Bearing Accounts$16,677$32,786▲ $16,109
Land, Buildings, and Equipment, Net$556$0▼ $556
Total Assets$6,532,858$6,988,116▲ $455,258
Liabilities
Other Liabilities$6,257,985$4,560,712▼ $1,697,273
Unsecured Notes Loans Payable$165,804$0▼ $165,804
Deferred Revenue$119,000$163,000▲ $44,000
Accounts Payable and Accrued Expenses$36,325$67,750▲ $31,425
Total Liabilities$6,579,114$4,791,462▼ $1,787,652
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-49,235$2,193,675▲ $2,242,910
Net Assets With Donor Restrictions$2,979$2,979→ $0
Total Net Assets Fund Balance$-46,256$2,196,654▲ $2,242,910
Total Liabilities and Net Assets / Fund Balance$6,532,858$6,988,116▲ $455,258

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$0-$0
Equipment$0$8,636$0
Leasehold Improvements$0$0$0
Compensation and Service Providers
Top Officer Pay25th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Leroy JonesExecutive DirectorsPT$30,242$30,242

Board Members and Trustees

NameTitle
Verbert C AndersonPresident
Nick DeciusSecretary
Betty GeorgeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,358,760
Program Service Revenue
$6,241
Investment Income
$5,254
Other Revenue
$136,494
All Other Contributions
$0
Change in Net Assets
$224,692

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,506,749
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$1,506,749
Total Revenue per Form 990
$1,506,749
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$887,493
Salaries, Compensation, and Employee Benefits$394,564
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$265,778--$265,778
Other Expenses$0$232,011$0$232,011
Other Employee Benefits$72,702--$72,702
Office Expenses$14,528$16,712-$31,240
Current Officers, Directors, Trustees, and Key Employees-$30,242-$30,242
Payroll Taxes$25,842--$25,842
Occupancy$24,000$680-$24,680
Fees for Services Accounting$9,250$11,539-$20,789
Insurance$8,400--$8,400
Interest-$2,513-$2,513
Total Functional Expenses$985,360$296,697$0$1,282,057

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,282,057
Total Expenses per Audited Statements$1,282,057
Total Expenses per Form 990$1,282,057
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
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
Restricted Loan Payable$3,970,159
Program Income Collected$370,530
Loans Due to Clients$209,911
Accrued Vacation$9,112
Accrued Wages Payable$1,000
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 A, Line 6

“THE BLACK ECONOMIC DEVELOPMENT COALITION INC d/b/a TOOLS FOR CHANGE IS A MEMBERSHIP ORGANIZATION”

Form 990, Part VI, Section A, Line 7A

“The members of the organization elects the board of directors”

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

“Organization's process to review irs form 990- the irs form 990 tax return is prepared by the accountant and reviewed by the executve director”

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

“Enforcement of conflicts of intererst policy - each year the board, officers, and key employees disclose their outside business relationships to the organization. Based on the information provided, the board determines the actions that must be taken. If the information is determined to be false, then that person's position within the organization would be terminated.”

Form 990, Part VI, Section B, Line 15

“Compensation process for top official-the board of directors reviews the executive director's salary on an annuual basis and directs the executive director to review the staff's salary on an annual basis.”

Form 990, Part VI, Section C, Line 19

“Governing documents disclosure explanation. The organization makes governing documents, conflict of interest policy and financial statements available in the office where copies of the documents can be are made upon request.”

Filing and Contact Details

Filer

Filer Name
Black Economic Development Coalition Inc
EIN
65-0159176
Phone
3052005568
Address
5120 NW 24th AVENUE, MIAMI, FL 33142
Doing Business As
Tools for Change

Signing Officer

Name
Leroy Jones
Title
Executive Director
Phone
3052005568
Signed
2022-11-03

Organization Details

Principal Officer
Leroy Jones
Formed
1989
Legal Domicile
Fl
Voting Board Members
3
Independent Board Members
3
Employees
9
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Termination of grantor's restrictions on account restricted fund-micro/small-due county”

Financial Statement Notes

Schedule D, Part X, Line 2

“We believe we have adequate disclosure for all tax uncertainties. There are open tax years as of december 31, 2021, 2020 and 2019 still subject to tax jurisdiction review; however, management has determined that no provision for uncertain tax positions is required at december 31, 2021”

Raw XML AppendixShowing 400 of 494 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/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt03319340
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt07925
IRS990/PYOtherExpensesAmt02598240
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0500
IRS990/PYRevenuesLessExpensesAmt0312115
IRS990/PYSalariesCompEmpBnftPaidAmt0417410
IRS990/PYTotalExpensesAmt03015650
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03327765
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0224692
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01358760
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME-CAUSED BY FORGIVENESS OF PPP LOAN
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Schedule A, Part II, Line 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01370254
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt03319840
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0753067
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0778379
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0525262
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt06746802
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt04194
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt07925
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt027025
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt01072
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt048
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt040264
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0136494
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0136494
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.97447
IRS990ScheduleA/PublicSupportPY170Pct00.99406
IRS990ScheduleA/PublicSupportTotal170Amt06746802
IRS990ScheduleA/ThirtyThrPctSuprtTestsPY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01370254
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt03319840
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0753067
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0778379
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0525262
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt06746802
IRS990ScheduleA/TotalSupportAmt06923560
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/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/BuildingsGrp/DepreciationAmt00
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt00
IRS990ScheduleD/DonatedServicesUseFcltsAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt08636
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt08636
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01282057
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt00
IRS990ScheduleD/InvestmentExpensesNotIncldAmt00
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LossesReportedAmt00
IRS990ScheduleD/NetUnrealizedGainsInvstAmt00
IRS990ScheduleD/OtherExpensesIncludedAmt00
IRS990ScheduleD/OtherExpensesNotIncludedAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0370530
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt29112
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3209911
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt43970159
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PROGRAM INCOME COLLECTED
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED WAGES PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ACCRUED VACATION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3LOANS DUE TO CLIENTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4RESTRICTED LOAN PAYABLE
IRS990ScheduleD/OtherRevenueAmt00
IRS990ScheduleD/OtherRevenuesNotIncludedAmt00
IRS990ScheduleD/PriorYearAdjustmentsAmt00
IRS990ScheduleD/RecoveriesPriorYearGrantsAmt00
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01506749
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0WE BELIEVE WE HAVE ADEQUATE DISCLOSURE FOR ALL TAX UNCERTAINTIES. THERE ARE OPEN TAX YEARS AS OF DECEMBER 31, 2021, 2020 AND 2019 STILL SUBJECT TO TAX JURISDICTION REVIEW; HOWEVER, MANAGEMENT HAS DETERMINED THAT NO PROVISION FOR UNCERTAIN TAX POSITIONS IS REQUIRED AT DECEMBER 31, 2021
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part X, Line 2
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt01282057
IRS990ScheduleD/TotalLiabilityAmt04560712
IRS990ScheduleD/TotalRevenuePerForm990Amt01506749
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01506749
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01282057
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BLACK ECONOMIC DEVELOPMENT COALITION INC d/b/a TOOLS FOR CHANGE IS A MEMBERSHIP ORGANIZATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBERS OF THE ORGANIZATION ELECTS THE BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZATION'S PROCESS TO REVIEW IRS FORM 990- THE IRS FORM 990 TAX RETURN IS PREPARED BY THE ACCOUNTANT AND REVIEWED BY THE EXECUTVE DIRECTOR
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ENFORCEMENT OF CONFLICTS OF INTERERST POLICY - EACH YEAR THE BOARD, OFFICERS, AND KEY EMPLOYEES DISCLOSE THEIR OUTSIDE BUSINESS RELATIONSHIPS TO THE ORGANIZATION. BASED ON THE INFORMATION PROVIDED, THE BOARD DETERMINES THE ACTIONS THAT MUST BE TAKEN. IF THE INFORMATION IS DETERMINED TO BE FALSE, THEN THAT PERSON'S POSITION WITHIN THE ORGANIZATION WOULD BE TERMINATED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION PROCESS FOR TOP OFFICIAL-THE BOARD OF DIRECTORS REVIEWS THE EXECUTIVE DIRECTOR'S SALARY ON AN ANNUUAL BASIS AND DIRECTS THE EXECUTIVE DIRECTOR TO REVIEW THE STAFF'S SALARY ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS DISCLOSURE EXPLANATION. THE ORGANIZATION MAKES GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE IN THE OFFICE WHERE COPIES OF THE DOCUMENTS CAN BE ARE MADE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6TERMINATION OF GRANTOR'S RESTRICTIONS ON ACCOUNT RESTRICTED FUND-MICRO/SMALL-DUE COUNTY
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part XI, Line 9
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd01
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0BLACK ECONOMIC DEVELOPMENT COALITION INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0FL
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/OwnershipPct01
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0NEW MARKET TAX CREDITS
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0TOOLS FOR MAGIC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt05120 NW 24th AVENUE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0MIAMI
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0FL
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd033142
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,988,116
Liabilities
$4,791,462
Net assets
$2,196,654
Revenue
$1,506,749
Expenses
$1,282,057
Net income
$224,692
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.87$5.17$1.70$0.81$0.98$0.17
2023Detailed filing. Detailed filing data is available for this year.$7.32$5.45$1.87$0.92$1.06$0.14
2022Detailed filing. Detailed filing data is available for this year.$7.10$5.12$1.98$0.79$0.95$0.16
2021Detailed filing. Detailed filing data is available for this year.$6.99$4.79$2.20$1.51$1.28$0.22
2020Detailed filing. Detailed filing data is available for this year.$6.53$6.58$0.05$3.33$3.02$0.31
2019Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
2018Summary only. Only limited summary data is available for this year.$3.70$4.10$0.41$0.78$0.83$0.05
2017Summary only. Only limited summary data is available for this year.$2.85$3.21$0.36$0.53$0.61$0.08
2016Summary only. Only limited summary data is available for this year.$2.75$2.39$0.36$0.38$0.80$0.42
2015Summary only. Only limited summary data is available for this year.$3.10$2.31$0.78$1.23$0.38$0.85
2014Summary only. Only limited summary data is available for this year.$2.01$2.08$0.06$0.59$0.61$0.03
2013Summary only. Only limited summary data is available for this year.$1.79$1.75$0.04$0.93$0.90$0.03
2012Summary only. Only limited summary data is available for this year.$1.36$1.09$0.27$0.62$0.37$0.25
2011Summary only. Only limited summary data is available for this year.$1.06$0.55$0.51$0.63$0.77$0.13
2010Summary only. Only limited summary data is available for this year.$0.91$0.29$0.62$0.63$0.22$0.41