Civic Intelligence

Us Black Chambers Inc

990 • Fiscal year 2019 • EIN 80-0483124

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 11, 2020

Organization Profilewww.usblackchamber.org

View Organization Page

1001 Connecticut Ave NWWashington, DC 20036

(202) 463-8722

Siviq Scores

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

Liabilities / Assets

91st percentile

0.67x

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

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

71st percentile

0.33x

Higher debt load relative to revenue than 71% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Net Margin

49th percentile

3.6%

Higher net margin than 49% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

95th percentile

$389,319

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 21.6% of source-year revenue.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Asset Growth

98th percentile

130%

Faster asset growth than 98% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

97th percentile

84%

Faster revenue growth than 97% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$883,792

Up $498,757 (+130%) from 2018

Net Assets

Up

$288,349

Up $204,291 (+243%) from 2018

Liabilities

Up

$595,443

Up $294,466 (+98%) from 2018

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin49th percentile

Revenue

Up

$1,802,931

Up $825,437 (+84%) from 2018

Expenses

Up

$1,737,418

Up $723,231 (+71%) from 2018

Net Income

Up

$65,513

Up $102,206 (+279%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth98th 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

2019

Assets$883,792
Liabilities$595,443
Net Assets$288,349
Open 2019 Filing

Operations Trend

Revenue Growth97th 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

2019

Revenue$1,802,931
Expenses$1,737,418
Net Income$65,513
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 11, 2020
Return Version
2019v5.1
Gross Receipts
$1,802,931
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
Other Notes and Loans Receivable, Net-$570,246-
Accounts Receivable$172,588$216,062▲ $43,474
Cash and Non-Interest-Bearing Accounts$108,920$76,811▼ $32,109
Pledges and Grants Receivable$74,685--
Prepaid Expenses and Deferred Charges$23,250--
Land, Buildings, and Equipment, Net$5,592$5,592→ $0
Total Assets$385,035$883,792▲ $498,757
Other Assets Total-$15,081-
Liabilities
Accounts Payable and Accrued Expenses$300,977$306,708▲ $5,731
Unsecured Notes Loans Payable-$288,735-
Total Liabilities$300,977$595,443▲ $294,466
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$84,058$288,349▲ $204,291
Total Net Assets Fund Balance$84,058$288,349▲ $204,291
Total Liabilities and Net Assets / Fund Balance$385,035$883,792▲ $498,757

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,592--
Other Assets Org$15,081--
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ronald BusbyPresident and CEOFT$389,319$389,319

Board Members and Trustees

NameTitle
Charles O NealChairman of the Board
Antwanye FordVice Chair
Kelisha GarrettDirector
Larry HolmanDirector
Susan VanderbuiltDirector
Veta JeffreyDirector
Aimee GriffinSecretary
Bridgett GagneTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,654,508
Program Service Revenue
$148,423
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,496,063
Change in Net Assets
$65,513
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,073,778
Salaries, Compensation, and Employee Benefits$663,640
Total Fundraising Expense$40,393
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$499,175$36,866$33,278$569,319
All Other Expenses$49,476$73,527$3,079$126,082
Fees for Services Other$47,488$56,415$2,833$106,736
Other Employee Benefits-$64,500-$64,500
Travel$50,194$967-$51,161
Payroll Taxes-$29,821-$29,821
Office Expenses$18,050-$1,203$19,253
Fees for Services Accounting-$13,250-$13,250
Occupancy-$9,591-$9,591
Advertising$5,004$4,247-$9,251
Other Expenses$2,921$3,273-$6,194
Fees for Services Legal-$3,250-$3,250
Insurance-$1,459-$1,459
Total Functional Expenses$1,333,898$363,127$40,393$1,737,418
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
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
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 President/CEO. 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
1001 Connecticut Ave NW, Washington, DC 20036

Signing Officer

Name
Ronald Busby
Title
Executive Direc
Phone
2025522954
Signed
2020-11-11
Discuss with paid preparer
No

Organization Details

Formed
2010
Legal Domicile
Dc
Voting Board Members
9
Independent Board Members
8
Employees
3
Volunteers
8

Preparer

Firm
Benford Brown and Associates LLC
Address
8334 S 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 Appendix381 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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IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
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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 President/CEO. 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/BuildTS02021-04-22 16:20:28Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0Ronald Busby
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Direc
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt050.193.119.17
ReturnHeader/FilingSecurityInformation/IPDt02020-11-16
ReturnHeader/FilingSecurityInformation/IPTm011:15:35
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0364124699
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Benford Brown and Associates LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt08334 S Stony Island Ave
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Chicago
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ReturnHeader/PreparerPersonGrp/PhoneNum07737311300
ReturnHeader/PreparerPersonGrp/PreparationDt02020-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Marcus Gulley
ReturnHeader/ReturnTs02020-11-15T13:46:33-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$883,792
Liabilities
$595,443
Net assets
$288,349
Revenue
$1,802,931
Expenses
$1,737,418
Net income
$65,513
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