Civic Intelligence

Black Cooperative Impact Fund

990 • Fiscal year 2020 • EIN 81-4320957

Jan 01, 2020 to Dec 31, 2020 • Filed on Feb 26, 2021

6080 Center Drive 6th FloorLos Angeles, CA 90045

(310) 904-6336

Siviq Scores

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

Liabilities / Assets

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

96th percentile

84%

Higher net margin than 96% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

95th percentile

325%

Faster asset growth than 95% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

98th percentile

495%

Faster revenue growth than 98% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Assets

Up

$191,541

Up $143,991 (+303%) from 2019

Net Assets

Up

$191,541

Up $144,096 (+304%) from 2019

Liabilities

Down

$0

Down $105 (-100%) from 2019

Revenue

Up

$172,371

Up $143,345 (+494%) from 2019

Expenses

Down

$28,130

Down $9,540 (-25%) from 2019

Net Income

Up

$144,241

Up $152,885 (+1769%) from 2019

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2016: $7,735Liabilities 2016: $0Net Assets 2016: $7,7352016Assets 2017: $31,269Liabilities 2017: $0Net Assets 2017: $31,2692017Assets 2018: $56,074Liabilities 2018: $0Net Assets 2018: $56,0742018Assets 2019: $47,550Liabilities 2019: $105Net Assets 2019: $47,4452019Assets 2020: $191,541Liabilities 2020: $0Net Assets 2020: $191,5412020Assets 2021: $510,201Liabilities 2021: $0Net Assets 2021: $510,2012021Assets 2022: $507,477Liabilities 2022: $0Net Assets 2022: $507,4772022Assets 2023: $563,765Liabilities 2023: $0Net Assets 2023: $563,7652023Assets 2024: $487,404Net Assets 2024: $487,4042024

Highlighted filing

2020

Assets$191,541
Liabilities$0
Net Assets$191,541

Operations Trend

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

$400K$200K$0-$200KRevenue 2016: $10,729Expenses 2016: $2,994Net Income 2016: $7,7352016Revenue 2017: $82,510Expenses 2017: $58,976Net Income 2017: $23,5342017Revenue 2018: $52,044Expenses 2018: $51,179Net Income 2018: $8652018Revenue 2019: $29,026Expenses 2019: $37,670Net Income 2019: -$8,6442019Revenue 2020: $172,371Expenses 2020: $28,130Net Income 2020: $144,2412020Revenue 2021: $387,816Expenses 2021: $69,156Net Income 2021: $318,6602021Revenue 2022: $147,013Expenses 2022: $149,737Net Income 2022: -$2,7242022Revenue 2023: $332,956Expenses 2023: $255,357Net Income 2023: $77,5992023Revenue 2024: $183,095Expenses 2024: $259,456Net Income 2024: -$76,3612024

Highlighted filing

2020

Revenue$172,371
Expenses$28,130
Net Income$144,241
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Feb 26, 2021
Return Version
2020v4.1
Gross Receipts
$172,371
Mission and Program Overview

Mission

Provide microloans to businesses

Based on cooperative economics, BCIF is a community-based organization that provides microloans to the Black community through pooled dollars and raises awareness about the importance of economic empowerment, equity and wealth building, with a focus on SoCal communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$47,445$191,541▲ $144,096
Cash and Non-Interest-Bearing Accounts$18,056$164,163▲ $146,107
Other Notes and Loans Receivable, Net$29,494$27,378▼ $2,116
Total Assets$47,550$191,541▲ $143,991
Liabilities
Accounts Payable and Accrued Expenses$105--
Total Liabilities$105$0▼ $105
Net Assets / Fund Balance
Total Net Assets Fund Balance$47,445$191,541▲ $144,096
Total Liabilities and Net Assets / Fund Balance$47,550$191,541▲ $143,991
Compensation and Service Providers

Board Members and Trustees

NameTitle
Robert LewisPresidentBoard Chair
Melanie MackVice PresidentSecretary
Barbara BickhamBoard Member
Carron BrownBoard Member
Damon HaleyBoard Member
Joe HuserBoard Member
Kelvin SaulsBoard Member
Marvin BoatengBoard Member
Michael RaefordBoard Member
Tiana SanchezBoard Member
Timothy DoddBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$172,347
Program Service Revenue
$24
Investment Income
$0
Other Revenue
$0
All Other Contributions
$172,347
Change in Net Assets
$144,241
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$28,130
Total Fundraising Expense$214
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$10,784--$10,784
Fees for Services Accounting-$4,210-$4,210
Occupancy-$2,134-$2,134
Insurance-$1,625-$1,625
All Other Expenses-$1,207$214$1,421
Other Expenses$5,950$915-$915
Information Technology-$764-$764
Office Expenses-$145-$145
Total Functional Expenses$16,734$11,182$214$28,130
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
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Officer directors etc family relationship Part VI line 2

President of BCIF, Robert Lewis, and Vice President/Secretary, Melanie Mack are married.

Management duties delegation Part VI line 3

NEX-Impact is a contracted management company enlisted to manage some of BCIFs operational activities. BCIF and NEX-Impact are both housed at a Regus office.

Form 990 governing body review Part VI line 11

Copies of the completed draft Form 990 (including required schedules) will be distributed to the Board of Directors in either electronic or paper form for review and approval. Any questions or concerns will be noted and addressed, and the President or Treasurer shall ensure that any appropriate changes are incorporated into the Form 990, which then shall be signed by the President or other authorized officer of the Organization.

Conflict of interest policy compliance Part VI line 12C

Each director, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person (a) Has received a copy of the conflicts of interest policy, (b) Has read and understands the policy, (c) Has agreed to comply with the policy, and (d) Understands the organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.

CEO executive director top management comp Part VI line 15A

The process for determining compensation for the top management officials includes a review and approval by the organizations Board of Directors.

Other officer or key employee compensation Part VI line 15B

The Board will establish reasonable compensation by taking in to account the amount ordinarily paid for like services by similar organizations under like circumstances.

Governing documents etc available to public Part VI line 19

The Corporation shall at all times keep at its principal office a copy of its federal tax exemption application and, for three years from their date of filing, its annual information returns. These documents shall be open to public inspection and copying to the extent required by the Code.

Filing and Contact Details

Filer

Filer Name
Black Cooperative Investment Fund
EIN
81-4320957
Address
6080 Center Drive 6th Floor, Los Angeles, CA 90045

Signing Officer

Name
Robert Lewis
Title
President
Phone
3109046336
Signed
2021-02-26
Discuss with paid preparer
No

Organization Details

Principal Officer
Robert Lewis
Formed
2016
Legal Domicile
CA
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
7

Preparer

Firm
Coopers Accounting Service LP
Address
4300 Long Beach Blvd Suite 350, Long Beach, CA 90807
Preparer
Steven D Cooper
Phone
5624362600
Supplemental Narrative

Additional Explanations

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

Contractors $5,950

List of other expenses Part IX line 24E

Mangagement & General FundraisingTelephone $434 Special Events $214IT/Web Development $35Postage $16Subscriptions $772

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0President of BCIF, Robert Lewis, and Vice President/Secretary, Melanie Mack are married.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NEX-Impact is a contracted management company enlisted to manage some of BCIFs operational activities. BCIF and NEX-Impact are both housed at a Regus office.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Copies of the completed draft Form 990 (including required schedules) will be distributed to the Board of Directors in either electronic or paper form for review and approval. Any questions or concerns will be noted and addressed, and the President or Treasurer shall ensure that any appropriate changes are incorporated into the Form 990, which then shall be signed by the President or other authorized officer of the Organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Each director, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person (a) Has received a copy of the conflicts of interest policy, (b) Has read and understands the policy, (c) Has agreed to comply with the policy, and (d) Understands the organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The process for determining compensation for the top management officials includes a review and approval by the organizations Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The Board will establish reasonable compensation by taking in to account the amount ordinarily paid for like services by similar organizations under like circumstances.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The Corporation shall at all times keep at its principal office a copy of its federal tax exemption application and, for three years from their date of filing, its annual information returns. These documents shall be open to public inspection and copying to the extent required by the Code.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Contractors $5,950
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Mangagement & General FundraisingTelephone $434 Special Events $214IT/Web Development $35Postage $16Subscriptions $772
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Management duties delegation Part VI line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7List of other fees for services expenses Part IX line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8List of other expenses Part IX line 24e
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt047550
IRS990/TotalAssetsEOYAmt0191541
IRS990/TotalAssetsGrp/BOYAmt047550
IRS990/TotalAssetsGrp/EOYAmt0191541
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0172347
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0214
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt011182
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt016734
IRS990/TotalFunctionalExpensesGrp/TotalAmt028130
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0105
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt0105
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt047445
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0191541
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt016734
IRS990/TotalProgramServiceRevenueAmt024
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt024
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0172371
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt047550
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0191541
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0wwww.bcifund.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd000
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Robert Lewis
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum03109046336
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-02-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Black Cooperative Investment Fund
ReturnHeader/Filer/BusinessNameControlTxt0BLAC
ReturnHeader/Filer/EIN0814320957
ReturnHeader/Filer/USAddress/AddressLine1Txt06080 Center Drive 6th Floor
ReturnHeader/Filer/USAddress/CityNm0Los Angeles
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd090045
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0710871952
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Coopers Accounting Service LP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04300 Long Beach Blvd Suite 350
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Long Beach
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd090807
ReturnHeader/PreparerPersonGrp/PhoneNum05624362600
ReturnHeader/PreparerPersonGrp/PreparationDt02021-05-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Steven D Cooper
ReturnHeader/ReturnTs02021-05-14T12:02:36-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Robert
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Lewis
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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