Civic Intelligence

African American Cultural Center

EIN 80-0356346 • 501(c)3 • San Jose, CA

Profile

Creating, developing and building the new african-american community service agency project - an affordable housing mixed use development which will include a community service agency, community health clinics, adult and family services, and other related programs.

1900 The Alameda Ste 500San Jose, CA 95126

svafricanamericanculturalcenter.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

48th percentile

0.06x

Higher debt load relative to assets than 48% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

95th percentile

3.17x

Higher debt load relative to revenue than 95% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Net Margin

1st percentile

-438%

Higher net margin than 1% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

76th percentile

$125,000

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 146.7% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Asset Growth

19th percentile

-7.7%

Faster asset growth than 19% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

1st percentile

-98%

Faster revenue growth than 1% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Assets

Up

$5,273,694

Up $3,333,985 (+172%) from 2023

Liabilities

Down

$302,861

Down $14,398 (-4.5%) from 2023

Net Assets

Up

$4,970,833

Up $3,348,383 (+206%) from 2023

Revenue

Up

$3,768,484

Up $2,684,194 (+248%) from 2023

Expenses

Up

$420,101

Up $362,101 (+624%) from 2023

Net Income

Up

$3,348,383

Up $2,322,093 (+226%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2022: $395,141Liabilities 2022: $0Net Assets 2022: $395,1412022Assets 2023: $1,939,709Liabilities 2023: $317,259Net Assets 2023: $1,622,4502023Assets 2024: $5,273,694Liabilities 2024: $302,861Net Assets 2024: $4,970,8332024

Highlighted filing

2024

Assets$5,273,694
Liabilities$302,861
Net Assets$4,970,833

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0Revenue 2022: $575,049Expenses 2022: $210,271Net Income 2022: $364,7782022Revenue 2023: $1,084,290Expenses 2023: $58,000Net Income 2023: $1,026,2902023Revenue 2024: $3,768,484Expenses 2024: $420,101Net Income 2024: $3,348,3832024

Highlighted filing

2024

Revenue$3,768,484
Expenses$420,101
Net Income$3,348,383

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 9, 2025
Return Version
2023v6.0
Gross Receipts
$3,768,484
Mission and Program Overview

Mission

Creating, developing and building the new african-american community service agency project - an affordable housing mixed use development which will include a community service agency, community health clinics, adult and family services, and other related programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable-$3,000,000-
Savings and Temporary Cash Investments$623,398$1,199,393▲ $575,995
Land, Buildings, and Equipment, Net$764,382$780,097▲ $15,715
Cash and Non-Interest-Bearing Accounts$236,819$30,779▼ $206,040
Prepaid Expenses and Deferred Charges$5,000$5,000→ $0
Total Assets$1,939,709$5,273,694▲ $3,333,985
Other Assets Total$310,110$258,425▼ $51,685
Liabilities
Other Liabilities$317,259$276,232▼ $41,027
Accounts Payable and Accrued Expenses-$26,629-
Total Liabilities$317,259$302,861▼ $14,398
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,574,859$4,185,825▲ $2,610,966
Net Assets Without Donor Restrictions$47,591$785,008▲ $737,417
Total Net Assets Fund Balance$1,622,450$4,970,833▲ $3,348,383
Total Liabilities and Net Assets / Fund Balance$1,939,709$5,273,694▲ $3,333,985

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$16,056$9,547$25,603
Buildings$764,041--
Compensation and Service Providers

Employees

NameTitleBaseTotal
Walter WilsonDirector$122,478$122,478

Board Members and Trustees

NameTitle
Rhonda Mcclinton-brownInterim President
Emeka NwadibiaDirector
Gale SimmonsDirector
Joanna FarrisDirector
Rich RobinsonDirector
Aneita GageInterim Secretary
Carol R DixonInterim Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,742,075
Program Service Revenue
$0
Investment Income
$26,409
Other Revenue
$0
All Other Contributions
$3,742,075
Change in Net Assets
$3,348,383
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$284,317
Total Fundraising Expense$177,075
Salaries, Compensation, and Employee Benefits$135,784
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$54,564$6,947$67,774$129,285
Occupancy-$66,800$2,520$69,320
Fees for Services Accounting-$54,850-$54,850
Information Technology$2,608$10,892-$13,500
Fees for Services Management$11,100--$11,100
Other Expenses-$9,778$2,827$9,778
Depreciation Depletion-$8,443-$8,443
Payroll Taxes$2,730$390$3,379$6,499
Insurance-$4,388-$4,388
Fees for Services Legal$2,763--$2,763
All Other Expenses-$240-$240
Total Functional Expenses$73,765$169,261$177,075$420,101
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
Lease Liability Net of Current$222,655
Current Portion of Lease Liability$53,577
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Other officer compensation reviewed
No
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 governing body review Part VI line 11

Copy of return provided to organizations board prior to filing.

Governing documents etc available to public Part VI line 19

Governing documents are made available to the public upon request. The general public may contact the organization via contact information presented on the organizations websiteto make their request.

Filing and Contact Details

Filer

Filer Name
African American Cultural Center
EIN
80-0356346
Address
1900 THE ALAMEDA STE 500, SAN JOSE, CA 95126

Signing Officer

Name
Carol R Dixon
Title
Interim Treasur
Phone
4086455957
Signed
2025-05-09
Discuss with paid preparer
Yes

Organization Details

Formed
2008
Legal Domicile
CA
Voting Board Members
8
Independent Board Members
8
Employees
1

Preparer

Firm
The Financial Dream Team USA
Address
1671 MARKDALE LN, LINCOLN, CA 95648
Preparer
D Leon Clinton
Phone
4087789651
Supplemental Narrative

Additional Explanations

Other or change in accounting method Part XII line 1

The organization is changing from cash basis to accrual basis accounting to achieve more accurate financial reporting and alignment with audited financial statements. This change will enhance financial transparency by properly matching revenues and expenses in the periods they are earned or incurred, regardless of cash flows. The transition will improve financial statement accuracy, provide better comparability across reporting periods, and ensure compliance with generally accepted accounting principles (gaap). This change will also facilitate more informed decision-making by stakeholders through consistent reporting methods between internal accounting records and external audit requirements.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0COPY OF RETURN PROVIDED TO ORGANIZATIONS BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. THE GENERAL PUBLIC MAY CONTACT THE ORGANIZATION VIA CONTACT INFORMATION PRESENTED ON THE ORGANIZATIONS WEBSITETO MAKE THEIR REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION IS CHANGING FROM CASH BASIS TO ACCRUAL BASIS ACCOUNTING TO ACHIEVE MORE ACCURATE FINANCIAL REPORTING AND ALIGNMENT WITH AUDITED FINANCIAL STATEMENTS. THIS CHANGE WILL ENHANCE FINANCIAL TRANSPARENCY BY PROPERLY MATCHING REVENUES AND EXPENSES IN THE PERIODS THEY ARE EARNED OR INCURRED, REGARDLESS OF CASH FLOWS. THE TRANSITION WILL IMPROVE FINANCIAL STATEMENT ACCURACY, PROVIDE BETTER COMPARABILITY ACROSS REPORTING PERIODS, AND ENSURE COMPLIANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP). THIS CHANGE WILL ALSO FACILITATE MORE INFORMED DECISION-MAKING BY STAKEHOLDERS THROUGH CONSISTENT REPORTING METHODS BETWEEN INTERNAL ACCOUNTING RECORDS AND EXTERNAL AUDIT REQUIREMENTS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Other or change in accounting method Part XII line 1
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0CAROL R DIXON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0INTERIM TREASUR
ReturnHeader/BusinessOfficerGrp/PhoneNum04086455957
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0AFRICAN AMERICAN CULTURAL CENTER
ReturnHeader/Filer/BusinessNameControlTxt0AFRI
ReturnHeader/Filer/EIN0800356346
ReturnHeader/Filer/USAddress/AddressLine1Txt01900 THE ALAMEDA STE 500
ReturnHeader/Filer/USAddress/CityNm0SAN JOSE
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0770562781
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0THE FINANCIAL DREAM TEAM USA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01671 MARKDALE LN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LINCOLN
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ReturnHeader/PreparerPersonGrp/PreparationDt02025-05-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0D LEON CLINTON
ReturnHeader/ReturnTs02025-05-08T13:08:14-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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