Civic Intelligence

Mbl Foundation Inc.

990 • Fiscal year 2023 • EIN 77-0698911

Jul 01, 2022 to Jun 30, 2023 • Filed on May 14, 2024

Organization ProfileN/A

View Organization Page

1717 E Cary StreetRichmond, VA 23223

(804) 649-7473

Siviq Scores

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

Liabilities / Assets

67th percentile

0.19x

Higher debt load relative to assets than 67% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

65th percentile

0.20x

Higher debt load relative to revenue than 65% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

93rd percentile

61%

Higher net margin than 93% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

8th percentile

-17%

Faster asset growth than 8% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

11th percentile

-34%

Faster revenue growth than 11% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets67th percentile

Assets

Down

$1,000,747

Down $204,035 (-17%) from 2022

Net Assets

Down

$806,140

Down $226,018 (-22%) from 2022

Liabilities

Up

$194,607

Up $21,983 (+13%) from 2022

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin93rd percentile

Revenue

Down

$969,223

Down $488,821 (-34%) from 2022

Expenses

Down

$376,163

Down $330,868 (-47%) from 2022

Net Income

Down

$593,060

Down $157,953 (-21%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth8th 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

2023

Assets$1,000,747
Liabilities$194,607
Net Assets$806,140
Open 2023 Filing

Operations Trend

Revenue Growth11th 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

2023

Revenue$969,223
Expenses$376,163
Net Income$593,060
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 14, 2024
Return Version
2022v5.0
Gross Receipts
$969,223
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$1,190,532$937,585▼ $252,947
Accounts Receivable$0$62,574▲ $62,574
Prepaid Expenses and Deferred Charges$2,000$588▼ $1,412
Total Assets$1,204,782$1,000,747▼ $204,035
Other Assets Total$12,250--
Liabilities
Unsecured Notes Loans Payable$139,635$131,302▼ $8,333
Accounts Payable and Accrued Expenses$32,989$61,805▲ $28,816
Deferred Revenue-$1,500-
Total Liabilities$172,624$194,607▲ $21,983
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,876,831$1,876,831→ $0
Net Assets Without Donor Restrictions$-844,673$-1,070,691▼ $226,018
Total Net Assets Fund Balance$1,032,158$806,140▼ $226,018
Total Liabilities and Net Assets / Fund Balance$1,204,782$1,000,747▼ $204,035
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Scottessa HurteBoard Chair
Floyd E MillerPresident
Nickkol LewisVice Chair
Connie HomDirector
Gagan MarwahaDirector
Greg HofbauerDirector
Jeff ConleyDirector
Kathryn DolanDirector
Kevin KennyDirector
Lisa SpellerDirector
Mac LivingstonDirector
Patrick McFaddenDirector
Sharon Dabney-WooldridgeDirector
Tanya BattleDirector
Wendy BurchardDirector
William CarterDirector
David LeFebvreSecretary
Chris LayneTreasurer
Brittany RawlinsonVice Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$846,857
Program Service Revenue
$115,334
Investment Income
$6,643
Other Revenue
$389
All Other Contributions
$547,025
Change in Net Assets
$593,060
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$373,663
Total Fundraising Expense$39,446
Grants and Similar Amounts Paid$2,500
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$288,986$11,557$39,446$339,989
Office Expenses$11,864$5,062$0$16,926
Advertising$3,851$3,851$0$7,702
Fees for Services Accounting$0$3,423$0$3,423
Grants to Domestic Orgs$2,500--$2,500
Occupancy$0$2,410$0$2,410
Travel$1,437$359$0$1,796
Interest$0$1,417$0$1,417
Total Functional Expenses$308,638$28,079$39,446$376,163
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
1717 E Cary Street, Richmond, VA 23223

Signing Officer

Name
Floyd Miller II
Title
Executive Director
Phone
8046497473
Signed
2024-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Floyd Miller II
Formed
2007
Legal Domicile
Va
Voting Board Members
20
Independent Board Members
0
Employees
0
Volunteers
20

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

“Bank Charges & Fees 434. 0. 434. 0.”

Form 990, Part IX, Line 24E

“Meals & Entertainment 7694. 6925. 769. 0.”

Form 990, Part IX, Line 24E

“Signature Events 168045. 168045. 0. 0.”

Form 990, Part IX, Line 24E

“Educational 72514. 33068. 0. 39446.”

Form 990, Part IX, Line 24E

“Entreprenuerial 44212. 44212. 0. 0.”

Form 990, Part IX, Line 24E

“Other Business Expenses 42436. 35496. 6940. 0.”

Form 990, Part IX, Line 24E

“Contributions & Donations 3287. 657. 2630. 0.”

Form 990, Part IX, Line 24E

“Postage & Delivery 23. 0. 23. 0.”

Form 990, Part IX, Line 24E

“Professional Development 615. 0. 615. 0.”

Form 990, Part IX, Line 24E

“Capital Access 729. 583. 146. 0.”

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IRS990/Form990PartVIISectionAGrp/PersonNm12Floyd E Miller
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IRS990/PrincipalOfficerNm0Floyd Miller II
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IRS990/ProgSrvcAccomActy2Grp/Desc0MBL Youth Activities
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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/ExplanationTxt5Bank Charges & Fees 434. 0. 434. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Meals & Entertainment 7694. 6925. 769. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Signature Events 168045. 168045. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Educational 72514. 33068. 0. 39446.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Entreprenuerial 44212. 44212. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10Other Business Expenses 42436. 35496. 6940. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11Contributions & Donations 3287. 657. 2630. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12Postage & Delivery 23. 0. 23. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt13Professional Development 615. 0. 615. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt14Capital Access 729. 583. 146. 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

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,000,747
Liabilities
$194,607
Net assets
$806,140
Revenue
$969,223
Expenses
$376,163
Net income
$593,060
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