Civic Intelligence

Us Black Chambers Inc

990 • Fiscal year 2018 • EIN 80-0483124

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 15, 2019

Organization Profilewww.usblackchamber.org

View Organization Page

1050 17th Street NWWashington, DC 20036

(202) 552-2954

Siviq Scores

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

Liabilities / Assets

94th percentile

0.78x

Higher debt load relative to assets than 94% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

79th percentile

0.31x

Higher debt load relative to revenue than 79% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Net Margin

24th percentile

-3.8%

Higher net margin than 24% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

97th percentile

$250,000

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 25.6% of source-year revenue.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Asset Growth

95th percentile

66%

Faster asset growth than 95% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

7th percentile

-24%

Faster revenue growth than 7% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$385,035

Up $153,570 (+66%) from 2017

Net Assets

Down

$84,058

Down $34,902 (-29%) from 2017

Liabilities

Up

$300,977

Up $188,472 (+168%) from 2017

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin24th percentile

Revenue

Down

$977,494

Down $302,942 (-24%) from 2017

Expenses

Down

$1,014,187

Down $52,386 (-4.9%) from 2017

Net Income

Down

-$36,693

Down $250,556 (-117%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2010: $16,016Liabilities 2010: $9,300Net Assets 2010: $6,7162010Assets 2011: $26,232Liabilities 2011: $12,950Net Assets 2011: $13,2822011Assets 2012: $32,073Liabilities 2012: $340,605Net Assets 2012: -$308,5322012Assets 2013: $106,660Liabilities 2013: $276,698Net Assets 2013: -$170,0382013Assets 2014: $124,155Liabilities 2014: $287,799Net Assets 2014: -$163,6442014Assets 2015: $180,833Liabilities 2015: $264,149Net Assets 2015: -$83,3162015Assets 2016: $161,326Liabilities 2016: $266,249Net Assets 2016: -$104,9232016Assets 2017: $231,465Liabilities 2017: $112,505Net Assets 2017: $118,9602017Assets 2018: $385,035Liabilities 2018: $300,977Net Assets 2018: $84,0582018Assets 2019: $883,792Liabilities 2019: $595,443Net Assets 2019: $288,3492019Assets 2020: $1,250,574Liabilities 2020: $261,693Net Assets 2020: $988,8812020Assets 2021: $3,451,463Liabilities 2021: $365,139Net Assets 2021: $3,086,3242021Assets 2022: $4,170,960Liabilities 2022: $365,477Net Assets 2022: $3,805,4832022Assets 2023: $3,415,418Liabilities 2023: $404,194Net Assets 2023: $3,011,2242023

Highlighted filing

2018

Assets$385,035
Liabilities$300,977
Net Assets$84,058
Open 2018 Filing

Operations Trend

Revenue Growth7th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2010: $172,850Expenses 2010: $166,134Net Income 2010: $6,7162010Expenses 2011: $372,0772011Expenses 2012: $855,7752012Revenue 2013: $724,353Expenses 2013: $586,031Net Income 2013: $138,3222013Revenue 2014: $646,295Expenses 2014: $639,901Net Income 2014: $6,3942014Revenue 2015: $979,132Expenses 2015: $900,279Net Income 2015: $78,8532015Revenue 2016: $1,270,072Expenses 2016: $1,291,678Net Income 2016: -$21,6062016Revenue 2017: $1,280,436Expenses 2017: $1,066,573Net Income 2017: $213,8632017Revenue 2018: $977,494Expenses 2018: $1,014,187Net Income 2018: -$36,6932018Revenue 2019: $1,802,931Expenses 2019: $1,737,418Net Income 2019: $65,5132019Revenue 2020: $2,127,078Expenses 2020: $1,448,966Net Income 2020: $678,1122020Revenue 2021: $4,255,742Expenses 2021: $2,158,299Net Income 2021: $2,097,4432021Revenue 2022: $3,951,171Expenses 2022: $3,408,120Net Income 2022: $543,0512022Revenue 2023: $3,009,012Expenses 2023: $3,801,180Net Income 2023: -$792,1682023

Highlighted filing

2018

Revenue$977,494
Expenses$1,014,187
Net Income-$36,693
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 15, 2019
Return Version
2018v3.1
Gross Receipts
$977,494
Mission and Program Overview

Mission

The USBC provides committed and visionary leadership and advocacy in the realization of economic empowerment . Through the creation and development of resources and initiatives, the Chamber seeks to support African American Chambers of Commerce in their work of developing black entrepreneurs.

The USBC provides committed and visionary leadership and advocacy in the relalization of economic empowerment. Through the creation and development of resources and initiatives, the Chamber seeks to support African American Chambers in their work developing Black entreprenuers.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$185,784$172,588▼ $13,196
Cash and Non-Interest-Bearing Accounts$35,880$108,920▲ $73,040
Pledges and Grants Receivable-$74,685-
Prepaid Expenses and Deferred Charges$6,000$23,250▲ $17,250
Land, Buildings, and Equipment, Net$3,801$5,592▲ $1,791
Total Assets$231,465$385,035▲ $153,570
Liabilities
Accounts Payable and Accrued Expenses$112,505$300,977▲ $188,472
Total Liabilities$112,505$300,977▲ $188,472
Net Assets / Fund Balance
Unrestricted Net Assets$118,960$84,058▼ $34,902
Total Net Assets Fund Balance$118,960$84,058▼ $34,902
Total Liabilities and Net Assets / Fund Balance$231,465$385,035▲ $153,570

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,592--
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ronald BusbyPresident and CEOFT$250,000$250,000

Board Members and Trustees

NameTitle
Aubry StoneBoard Chairman
Aimee GriffinDirector
Antwayne FordDirector
Charles O NealDirector
Jim WyattDirector
Kristal WatsonDirector
Larry HolmanDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$489,330
Program Service Revenue
$488,164
Investment Income
$0
Other Revenue
$0
All Other Contributions
$320,000
Change in Net Assets
$-36,693
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$662,480
Salaries, Compensation, and Employee Benefits$351,707
Total Fundraising Expense$31,633
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$261,461$13,323$17,430$292,214
Fees for Services Other$85,342$27,224$5,556$118,122
Occupancy$34,213$9,060$2,265$45,538
Fees for Services Management$40,824-$2,833$43,657
Other Employee Benefits$36,970$1,884$2,465$41,319
Fees for Services Accounting-$25,068-$25,068
Payroll Taxes$16,261$829$1,084$18,174
Other Expenses$45$9,318-$9,363
All Other Expenses-$8,500-$8,500
Advertising$741$6,768-$7,509
Travel$3,197$3,930-$7,127
Total Functional Expenses$873,906$108,648$31,633$1,014,187
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
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

“The organization utilizes the services of an independent, CPA firm to prepare and file the Federal Form 990. The firm prepares an initial draft of the return and provides it to the entire Board of Directors for review and comment.After the return is reviewed and all questions and comments are addressed, the firm preparesthe final 990 and provides it to the Board Treasurer and Executive Director for finalapproval. Upon final approval, the return is filed with the Internal Revenue Service.”

CEO executive director top management comp Part VI line 15A

“The Chairman of the Board reviews and monitors the activities of the Executive Director. As part of this review process, the Board chair meets with the Executive Director to discuss compensation. Annual compensation is determined during the annual operating budget preparation process. Any change in compensation is presented in a formalized compensation packet for Board approval.”

Governing documents etc available to public Part VI line 19

“The organizational documents and Federal Form 990 are maintained in the primary offices of the Chamber. These documents are available for public examination upon formal request.”

Filing and Contact Details

Filer

Filer Name
US Black Chambers Inc
EIN
80-0483124
Address
1050 17th Street NW, Washington, DC 20036

Signing Officer

Name
Ronald Busby
Title
Executive Direc
Phone
2025522954
Signed
2019-11-15
Discuss with paid preparer
No

Organization Details

Formed
2010
Legal Domicile
Dc
Voting Board Members
11
Independent Board Members
10
Employees
3

Preparer

Firm
Benford Brown & Associates LLC
Address
8334 South Stony Island Ave, Chicago, IL 60617
Preparer
Marcus Gulley
Phone
7737311300
Supplemental Narrative

Additional Explanations

List of other fees for services expenses Part IX line 11G

“Other expenses represent other consulting fees.”

Raw XML Appendix372 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization utilizes the services of an independent, CPA firm to prepare and file the Federal Form 990. The firm prepares an initial draft of the return and provides it to the entire Board of Directors for review and comment.After the return is reviewed and all questions and comments are addressed, the firm preparesthe final 990 and provides it to the Board Treasurer and Executive Director for finalapproval. Upon final approval, the return is filed with the Internal Revenue Service.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Chairman of the Board reviews and monitors the activities of the Executive Director. As part of this review process, the Board chair meets with the Executive Director to discuss compensation. Annual compensation is determined during the annual operating budget preparation process. Any change in compensation is presented in a formalized compensation packet for Board approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organizational documents and Federal Form 990 are maintained in the primary offices of the Chamber. These documents are available for public examination upon formal request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Other expenses represent other consulting fees.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3List of other fees for services expenses Part IX line 11g
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ReturnHeader/FilingSecurityInformation/IPTm019:56:32
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ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$385,035
Liabilities
$300,977
Net assets
$84,058
Revenue
$977,494
Expenses
$1,014,187
Net income
-$36,693
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$3.42$0.40$3.01$3.01$3.80$0.79
2022Detailed filing. Detailed filing data is available for this year.$4.17$0.37$3.81$3.95$3.41$0.54
2021Detailed filing. Detailed filing data is available for this year.$3.45$0.37$3.09$4.26$2.16$2.10
2020Detailed filing. Detailed filing data is available for this year.$1.25$0.26$0.99$2.13$1.45$0.68
2019Detailed filing. Detailed filing data is available for this year.$0.88$0.60$0.29$1.80$1.74$0.07
2018Detailed filing. Detailed filing data is available for this year.$0.39$0.30$0.08$0.98$1.01$0.04
2017Detailed filing. Detailed filing data is available for this year.$0.23$0.11$0.12$1.28$1.07$0.21
2016Detailed filing. Detailed filing data is available for this year.$0.16$0.27$0.10$1.27$1.29$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.18$0.26$0.08$0.98$0.90$0.08
2014Detailed filing. Detailed filing data is available for this year.$0.12$0.29$0.16$0.65$0.64$0.01
2013Detailed filing. Detailed filing data is available for this year.$0.11$0.28$0.17$0.72$0.59$0.14
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.03$0.34$0.31$0.86
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.03$0.01$0.01$0.37
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.02$0.01$0.01$0.17$0.17$0.01