Civic Intelligence

Mbl Foundation Inc.

990 • Fiscal year 2022 • EIN 77-0698911

Jul 01, 2021 to Jun 30, 2022 • Filed on Nov 14, 2022

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

62nd percentile

0.14x

Higher debt load relative to assets than 62% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

57th percentile

0.12x

Higher debt load relative to revenue than 57% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

90th percentile

52%

Higher net margin than 90% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

87th percentile

45%

Faster asset growth than 87% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

47th percentile

4.1%

Faster revenue growth than 47% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Up

$1,204,782

Up $374,920 (+45%) from 2021

Net Assets

Up

$1,032,158

Up $352,867 (+52%) from 2021

Liabilities

Up

$172,624

Up $22,053 (+15%) from 2021

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin90th percentile

Revenue

Up

$1,458,044

Up $57,516 (+4.1%) from 2021

Expenses

Up

$707,031

Up $121,299 (+21%) from 2021

Net Income

Down

$751,013

Down $63,783 (-7.8%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth87th 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

2022

Assets$1,204,782
Liabilities$172,624
Net Assets$1,032,158
Open 2022 Filing

Operations Trend

Revenue Growth47th 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

2022

Revenue$1,458,044
Expenses$707,031
Net Income$751,013
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Nov 14, 2022
Return Version
2021v4.1
Gross Receipts
$1,458,044
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$828,292$1,190,532▲ $362,240
Prepaid Expenses and Deferred Charges-$2,000-
Accounts Receivable$1,570$0▼ $1,570
Total Assets$829,862$1,204,782▲ $374,920
Other Assets Total-$12,250-
Liabilities
Unsecured Notes Loans Payable$147,327$139,635▼ $7,692
Accounts Payable and Accrued Expenses$3,244$32,989▲ $29,745
Total Liabilities$150,571$172,624▲ $22,053
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,454,451$1,876,831▲ $422,380
Net Assets Without Donor Restrictions$-775,160$-844,673▼ $69,513
Total Net Assets Fund Balance$679,291$1,032,158▲ $352,867
Total Liabilities and Net Assets / Fund Balance$829,862$1,204,782▲ $374,920
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Scottessa HurteBoard Chair
Samuel S Young JrImmediate Past Chair
Floyd E MillerPresident
Nickkol LewisVice Chair
Chris LayneDirector
Connie HomDirector
Greg HofbauerDirector
Jeff ConleyDirector
Kathryn DolanDirector
Lisa SpellerDirector
Mac LivingstonDirector
Patrick McFaddenDirector
Sharon Dabney-WooldridgeDirector
Tanya BattleDirector
Wendy BurchardDirector
William CarterDirector
David LeFebvreSecretary
Dallas SimmonsTreasurer
Brittany RawlinsonVice Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,261,161
Program Service Revenue
$165,035
Investment Income
$593
Other Revenue
$31,255
All Other Contributions
$1,049,138
Change in Net Assets
$751,013
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$707,031
Total Fundraising Expense$616
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$244,497$450,796$0$695,293
Advertising$3,078$2,463$616$6,157
Office Expenses$3,298$825$0$4,123
Interest$0$1,308$0$1,308
Travel$0$150$0$150
Total Functional Expenses$250,873$455,542$616$707,031
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
2022-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Floyd Miller II
Formed
2007
Legal Domicile
Va
Voting Board Members
19
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

“Small Business Grant 363887. 0. 363887. 0.”

Form 990, Part IX, Line 24E

“Bank Charges & Fees 423. 0. 423. 0.”

Form 990, Part IX, Line 24E

“Meals & Entertainment 864. 691. 173. 0.”

Form 990, Part IX, Line 24E

“Signature Events 132286. 132286. 0. 0.”

Form 990, Part IX, Line 24E

“Educational 20666. 20666. 0. 0.”

Form 990, Part IX, Line 24E

“Entreprenuerial 26265. 26265. 0. 0.”

Form 990, Part IX, Line 24E

“Other Business Expenses 150902. 64589. 86313. 0.”

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IRS990/OfficeExpensesGrp/TotalAmt04123
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt012250
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0Donations to be allocated
IRS990/OtherRevenueMiscGrp/Desc1Miscellaneous
IRS990/OtherRevenueMiscGrp/ExclusionAmt00
IRS990/OtherRevenueMiscGrp/ExclusionAmt10
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt01255
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt130000
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt01255
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt130000
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt00
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt10
IRS990/OtherRevenueTotalAmt031255
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02000
IRS990/PrincipalOfficerNm0Floyd Miller II
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0Signature Events
IRS990/ProgramServiceRevenueGrp/Desc1Educational Events
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt027665
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1137370
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
IRS990/ProgSrvcAccomActy2Grp/Desc0MBL Youth Activities
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt046931
IRS990/ProgSrvcAccomActy2Grp/GrantAmt00
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0137370
IRS990/ProgSrvcAccomActy3Grp/Desc0MBL Education/Training & Small Business Grant/Other Business Expenses
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt071656
IRS990/ProgSrvcAccomActy3Grp/GrantAmt00
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt0196883
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01213497
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0665
IRS990/PYOtherExpensesAmt0585732
IRS990/PYOtherRevenueAmt0548
IRS990/PYProgramServiceRevenueAmt0185818
IRS990/PYRevenuesLessExpensesAmt0814796
IRS990/PYTotalExpensesAmt0585732
IRS990/PYTotalRevenueAmt01400528
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0751013
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt027665
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01261161
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01213497
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0237549
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0358
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt095000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02807565
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt02807565
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01261161
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01213497
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0237549
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0358
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt095000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02807565
IRS990ScheduleA/TotalSupportAmt02807565
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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/ExplanationTxt5Small Business Grant 363887. 0. 363887. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Bank Charges & Fees 423. 0. 423. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Meals & Entertainment 864. 691. 173. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Signature Events 132286. 132286. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Educational 20666. 20666. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10Entreprenuerial 26265. 26265. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11Other Business Expenses 150902. 64589. 86313. 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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0VA
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0829862
IRS990/TotalAssetsEOYAmt01204782
IRS990/TotalAssetsGrp/BOYAmt0829862
IRS990/TotalAssetsGrp/EOYAmt01204782
IRS990/TotalCompGreaterThan150KInd0false

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,204,782
Liabilities
$172,624
Net assets
$1,032,158
Revenue
$1,458,044
Expenses
$707,031
Net income
$751,013
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