Civic Intelligence

Mbl Foundation Inc.

990 • Fiscal year 2019 • EIN 77-0698911

Jul 01, 2018 to Jun 30, 2019 • Filed on Oct 15, 2019

Organization ProfileN/A

View Organization Page

707 East Main StreetRichmond, VA 23219

(804) 649-7473

Siviq Scores

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

Liabilities / Assets

97th percentile

2.01x

Higher debt load relative to assets than 97% of similar nonprofits.

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

Liabilities / Revenue

92nd percentile

0.41x

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

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

Net Margin

94th percentile

62%

Higher net margin than 94% of similar nonprofits.

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

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

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

Asset Growth

97th percentile

366%

Faster asset growth than 97% of similar nonprofits.

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

Revenue Growth

73rd percentile

21%

Faster revenue growth than 73% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets97th percentile

Assets

Up

$65,809

Up $51,679 (+366%) from 2018

Net Assets

Down

-$66,444

Down $13,819 (-26%) from 2018

Liabilities

Up

$132,253

Up $65,498 (+98%) from 2018

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin94th percentile

Revenue

Up

$319,433

Up $55,552 (+21%) from 2018

Expenses

Down

$120,241

Down $81,052 (-40%) from 2018

Net Income

Up

$199,192

Up $136,604 (+218%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$1.5M$1.0M$500K$0-$500KAssets 2018: $14,130Liabilities 2018: $66,755Net Assets 2018: -$52,6252018Assets 2019: $65,809Liabilities 2019: $132,253Net Assets 2019: -$66,4442019Assets 2020: $310,376Liabilities 2020: $249,830Net Assets 2020: $60,5462020Assets 2021: $829,862Liabilities 2021: $150,571Net Assets 2021: $679,2912021Assets 2022: $1,204,782Liabilities 2022: $172,624Net Assets 2022: $1,032,1582022Assets 2023: $1,000,747Liabilities 2023: $194,607Net Assets 2023: $806,1402023Assets 2024: $1,381,589Liabilities 2024: $914,605Net Assets 2024: $466,9842024

Highlighted filing

2019

Assets$65,809
Liabilities$132,253
Net Assets-$66,444
Open 2019 Filing

Operations Trend

Revenue Growth73rd percentile

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

$1.5M$1.0M$500K$0Revenue 2018: $263,881Expenses 2018: $201,293Net Income 2018: $62,5882018Revenue 2019: $319,433Expenses 2019: $120,241Net Income 2019: $199,1922019Revenue 2020: $586,816Expenses 2020: $181,036Net Income 2020: $405,7802020Revenue 2021: $1,400,528Expenses 2021: $585,732Net Income 2021: $814,7962021Revenue 2022: $1,458,044Expenses 2022: $707,031Net Income 2022: $751,0132022Revenue 2023: $969,223Expenses 2023: $376,163Net Income 2023: $593,0602023Revenue 2024: $1,069,660Expenses 2024: $567,886Net Income 2024: $501,7742024

Highlighted filing

2019

Revenue$319,433
Expenses$120,241
Net Income$199,192
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Oct 15, 2019
Return Version
2018v3.1
Gross Receipts
$319,433
Mission and Program Overview

Mission

MBL Foundation, Inc. is the backbone for the development, support, and advancement of small, minority and women-owned businesses in the Richmond & Tri-cities areas.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$7,529$60,766▲ $53,237
Prepaid Expenses and Deferred Charges$6,541$5,043▼ $1,498
Total Assets$14,130$65,809▲ $51,679
Other Assets Total$60--
Liabilities
Deferred Revenue$66,005$99,544▲ $33,539
Accounts Payable and Accrued Expenses$750$32,709▲ $31,959
Total Liabilities$66,755$132,253▲ $65,498
Net Assets / Fund Balance
Unrestricted Net Assets$14,130$65,809▲ $51,679
Temporarily Rstr Net Assets$-66,755$-132,253▼ $65,498
Total Net Assets Fund Balance$-52,625$-66,444▼ $13,819
Total Liabilities and Net Assets / Fund Balance$14,130$65,809▲ $51,679
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Samuel S Young JrBoard Chair
Floyd E MillerPresident
Scottessa HurteVice Chair
Brittany RawlinsonDirector
Chris LayneDirector
Connie HomDirector
Devon HenryDirector
Greg HofbauerDirector
Jeff ConleyDirector
Joanne EvenDirector
John Ramirez IIIDirector
Sharon Dabney-WooldridgeDirector
Thomas DavisDirector
William CarterDirector
Nickkol LewisSecretary
Dallas SimmonsTreasurer
Catina JonesVice Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$156,410
Program Service Revenue
$162,723
Investment Income
$0
Other Revenue
$300
All Other Contributions
$1,675
Change in Net Assets
$199,192
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$120,241
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$113,569$6,672$0$120,241
Total Functional Expenses$113,569$6,672$0$120,241
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
Yes
Audit committee
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
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
MBL Foundation Inc
EIN
77-0698911
Phone
8046497473
Address
707 East Main Street, Richmond, VA 23219

Signing Officer

Name
Floyd Miller II
Title
Executive Director
Phone
8046497473
Signed
2019-10-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Floyd Miller II
Formed
2007
Legal Domicile
Va
Voting Board Members
17
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
K & P Financial LLC
Address
3022 W BROAD ST STE B, RICHMOND, VA 23230
Preparer
Karen Athy
Phone
8043066845
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Form 990 is provided to the Executive Director and Finance Committee for questions and review before being filed.”

Pt VI, Line 15B

“Compensation is reviewed and voted upon by the Board and Finance Committee on an annual basis.”

Pt XI

“The Board of Directors, the Treasurer, the Finance Committee, and the President share the responsibilities of upholding financial policies and procedures. In the place of an audit system, the MBL Board reviews the financial documents monthly.”

Pt VI, Line 15A

“Compensation is reviewed and voted upon by the Board and Finance Committee on an annual basis.”

Pt VI, Line 19

“Form 990 is kept on site and is available for review upon request. The Board of Directors, the Treasurer, the finance committee, and the President share the responsibilities of upholding financial policies and procedures. In the place of an audit system, the MBL Board reviews the financial documents monthly.”

Form 990, Part IX, Line 24E

“Signature Events 91865. 91865. 0. 0.”

Form 990, Part IX, Line 24E

“RVA Linkup Expo 850. 850. 0. 0.”

Form 990, Part IX, Line 24E

“Educational Series 20016. 20016. 0. 0.”

Form 990, Part IX, Line 24E

“Gifts 113. 113. 0. 0.”

Form 990, Part IX, Line 24E

“Office Supplies 55. 0. 55. 0.”

Form 990, Part IX, Line 24E

“Postage and Delivery 65. 0. 65. 0.”

Form 990, Part IX, Line 24E

“In-Kind 725. 725. 0. 0.”

Form 990, Part IX, Line 24E

“Other Expenses 6552. 0. 6552. 0.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990 is provided to the Executive Director and Finance Committee for questions and review before being filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Compensation is reviewed and voted upon by the Board and Finance Committee on an annual basis.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Board of Directors, the Treasurer, the Finance Committee, and the President share the responsibilities of upholding financial policies and procedures. In the place of an audit system, the MBL Board reviews the financial documents monthly.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Compensation is reviewed and voted upon by the Board and Finance Committee on an annual basis.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Form 990 is kept on site and is available for review upon request. The Board of Directors, the Treasurer, the finance committee, and the President share the responsibilities of upholding financial policies and procedures. In the place of an audit system, the MBL Board reviews the financial documents monthly.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Signature Events 91865. 91865. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6RVA Linkup Expo 850. 850. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Educational Series 20016. 20016. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Gifts 113. 113. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Office Supplies 55. 0. 55. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10Postage and Delivery 65. 0. 65. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11In-Kind 725. 725. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12Other Expenses 6552. 0. 6552. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt XI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc12Form 990, Part IX, Line 24e
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IRS990/TotalProgramServiceRevenueAmt0162723
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0319433
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt014130
IRS990/UnrestrictedNetAssetsGrp/EOYAmt065809
IRS990/USAddress/AddressLine1Txt0707 E Main Street Suite 1615
IRS990/USAddress/CityNm0Richmond
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd023219
IRS990/VotingMembersGoverningBodyCnt017
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IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Floyd Miller II
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum08046497473
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-10-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MBL Foundation Inc

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$65,809
Liabilities
$132,253
Net assets
-$66,444
Revenue
$319,433
Expenses
$120,241
Net income
$199,192
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.38$0.91$0.47$1.07$0.57$0.50
2023Detailed filing. Detailed filing data is available for this year.$1.00$0.19$0.81$0.97$0.38$0.59
2022Detailed filing. Detailed filing data is available for this year.$1.20$0.17$1.03$1.46$0.71$0.75
2021Detailed filing. Detailed filing data is available for this year.$0.83$0.15$0.68$1.40$0.59$0.81
2020Detailed filing. Detailed filing data is available for this year.$0.31$0.25$0.06$0.59$0.18$0.41
2019Detailed filing. Detailed filing data is available for this year.$0.07$0.13$0.07$0.32$0.12$0.20
2018Detailed filing. Detailed filing data is available for this year.$0.01$0.07$0.05$0.26$0.20$0.06