Civic Intelligence

Mbl Foundation Inc.

990 • Fiscal year 2020 • EIN 77-0698911

Jul 01, 2019 to Jun 30, 2020 • Filed on Oct 27, 2020

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

91st percentile

0.80x

Higher debt load relative to assets than 91% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

82nd percentile

0.43x

Higher debt load relative to revenue than 82% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

94th percentile

69%

Higher net margin than 94% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

97th percentile

372%

Faster asset growth than 97% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

91st percentile

84%

Faster revenue growth than 91% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$310,376

Up $244,567 (+372%) from 2019

Net Assets

Up

$60,546

Up $126,990 (+191%) from 2019

Liabilities

Up

$249,830

Up $117,577 (+89%) from 2019

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin94th percentile

Revenue

Up

$586,816

Up $267,383 (+84%) from 2019

Expenses

Up

$181,036

Up $60,795 (+51%) from 2019

Net Income

Up

$405,780

Up $206,588 (+104%) from 2019

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

2020

Assets$310,376
Liabilities$249,830
Net Assets$60,546
Open 2020 Filing

Operations Trend

Revenue Growth91st 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

2020

Revenue$586,816
Expenses$181,036
Net Income$405,780
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Oct 27, 2020
Return Version
2019v5.1
Gross Receipts
$586,816
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$60,766$310,376▲ $249,610
Prepaid Expenses and Deferred Charges$5,043--
Total Assets$65,809$310,376▲ $244,567
Liabilities
Unsecured Notes Loans Payable-$144,999-
Deferred Revenue$99,544$104,831▲ $5,287
Accounts Payable and Accrued Expenses$32,709--
Total Liabilities$132,253$249,830▲ $117,577
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$65,809$60,546▼ $5,263
Net Assets With Donor Restrictions$-132,253--
Total Net Assets Fund Balance$-66,444$60,546▲ $126,990
Total Liabilities and Net Assets / Fund Balance$65,809$310,376▲ $244,567
Compensation and Service Providers
Top Officer Pay51st percentile

Board Members and Trustees

NameTitle
Scottessa HurteBoard Chair
Samuel S Young JrImmediate Past Chair
Floyd E MillerPresident
Nickkol LewisVice Chair
Catina JonesDirector
Chris LayneDirector
Connie HomDirector
Greg HofbauerDirector
Jeff ConleyDirector
John Ramirez IIIDirector
Kathryn DolanDirector
Sharon Dabney-WooldridgeDirector
Tanya BattleDirector
William CarterDirector
Joanne EvenSecretary
Dallas SimmonsTreasurer
Brittany RawlinsonVice Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$237,549
Program Service Revenue
$349,267
Investment Income
$0
Other Revenue
$0
All Other Contributions
$217,549
Change in Net Assets
$405,780
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$181,036
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$181,036$0$0$181,036
Total Functional Expenses$181,036$0$0$181,036
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 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
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
2020-10-27
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 S 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 112489. 112489. 0. 0.”

Form 990, Part IX, Line 24E

“MBL Education/Training 2181. 2181. 0. 0.”

Form 990, Part IX, Line 24E

“MBL Youth Activities 15007. 15007. 0. 0.”

Form 990, Part IX, Line 24E

“Small Business Grant 51359. 51359. 0. 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 112489. 112489. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6MBL Education/Training 2181. 2181. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7MBL Youth Activities 15007. 15007. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Small Business Grant 51359. 51359. 0. 0.
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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
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Floyd Miller II
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum08046497473
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-10-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MBL Foundation Inc
ReturnHeader/Filer/BusinessNameControlTxt0MBLF
ReturnHeader/Filer/EIN0770698911
ReturnHeader/Filer/PhoneNum08046497473
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$310,376
Liabilities
$249,830
Net assets
$60,546
Revenue
$586,816
Expenses
$181,036
Net income
$405,780
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