Civic Intelligence

Expanding Black Business Nfp

990 • Fiscal year 2022 • EIN 81-5173829

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 09, 2023

Organization Profilewww.ebbcfund.com
135 S LaSalle St 3025Chicago, IL 60603

(312) 543-6110

Siviq Scores

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

Liabilities / Assets

12th percentile

0.00x

Higher debt load relative to assets than 12% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

33rd percentile

0.07x

Higher debt load relative to revenue than 33% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

7th percentile

-46%

Higher net margin than 7% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

44th percentile

-0.9%

Faster asset growth than 44% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

98th percentile

505%

Faster revenue growth than 98% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets12th percentile

Assets

Down

$9,968,394

Down $86,918 (-0.9%) from 2021

Net Assets

Down

$9,954,769

Down $86,524 (-0.9%) from 2021

Liabilities

Down

$13,625

Down $394 (-2.8%) from 2021

Revenue And Expenses
Liabilities / Revenue33rd percentileNet Margin7th percentile

Revenue

Up

$187,892

Up $156,829 (+505%) from 2021

Expenses

Up

$274,416

Up $156,712 (+133%) from 2021

Net Income

Up

-$86,524

Up $117 (+0.1%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth44th percentile

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

$15M$10M$5.0M$0Assets 2020: $10,146,056Liabilities 2020: $18,122Net Assets 2020: $10,127,9342020Assets 2021: $10,055,312Liabilities 2021: $14,019Net Assets 2021: $10,041,2932021Assets 2022: $9,968,394Liabilities 2022: $13,625Net Assets 2022: $9,954,7692022Assets 2023: $10,151,005Liabilities 2023: $24,910Net Assets 2023: $10,126,0952023Assets 2024: $9,999,195Liabilities 2024: $39,066Net Assets 2024: $9,960,1292024

Highlighted filing

2022

Assets$9,968,394
Liabilities$13,625
Net Assets$9,954,769
Open 2022 Filing

Operations Trend

Revenue Growth98th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2020: $13,649,834Expenses 2020: $3,521,900Net Income 2020: $10,127,9342020Revenue 2021: $31,063Expenses 2021: $117,704Net Income 2021: -$86,6412021Revenue 2022: $187,892Expenses 2022: $274,416Net Income 2022: -$86,5242022Revenue 2023: $233,260Expenses 2023: $61,934Net Income 2023: $171,3262023Revenue 2024: $157,761Expenses 2024: $323,727Net Income 2024: -$165,9662024

Highlighted filing

2022

Revenue$187,892
Expenses$274,416
Net Income-$86,524
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 9, 2023
Return Version
2022v5.0
Gross Receipts
$187,892
Mission and Program Overview

Mission

Expanding black business nfp is a not-for-profit organization established to document and disseminate best practices in lending to black businesses within network and broadly; with a goal of dramatically increasing lending to black-owned businesses across the nation. The organization is supported primarily by contributions from the public.

Disseminate best practices in lending to black businesses with a goal of dramatically increasing lending to Black-owned businesses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net-$7,500,000-
Savings and Temporary Cash Investments-$2,000,000-
Investments Program Related-$251,946-
Cash and Non-Interest-Bearing Accounts$10,047,812$201,911▼ $9,845,901
Accounts Receivable$7,500--
Prepaid Expenses and Deferred Charges-$1,600-
Total Assets$10,055,312$9,968,394▼ $86,918
Other Assets Total$0$12,937▲ $12,937
Liabilities
Accounts Payable and Accrued Expenses$14,019$13,625▼ $394
Total Liabilities$14,019$13,625▼ $394
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$32,076$7,854,769▲ $7,822,693
Net Assets With Donor Restrictions$10,009,217$2,100,000▼ $7,909,217
Total Net Assets Fund Balance$10,041,293$9,954,769▼ $86,524
Total Liabilities and Net Assets / Fund Balance$10,055,312$9,968,394▼ $86,918
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Bill BynumChairman
Mary HoughtonPresident
Gary CunninghamVice Chair
Alfredo MartelDirector
Connie EvansDirector
Dan BetancourtDirector
Dorothy BridgesDirector
Inez LongDirector
Kurt ChilcottDirector
Lee WinslettDirector
Saurabh NarainDirector
Brian ArgrettTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$167,905
Program Service Revenue
$0
Investment Income
$19,987
Other Revenue
$0
All Other Contributions
$167,905
Change in Net Assets
$-86,524
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$248,054
Other Expenses$26,362
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$248,054--$248,054
Fees for Services Accounting-$19,000-$19,000
Travel-$3,891-$3,891
Office Expenses-$3,201-$3,201
Advertising-$270-$270
Total Functional Expenses$248,054$26,362$0$274,416
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Black Vision Fund LLCChicago, IL-To make loans to certain Community Development Financial Institutions.$248,054
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
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

“Form 990 is reviewed by outside accountant and President. It is then presented to members of governing body for approval prior to filing.”

Form 990, Part VI, Section B, line 12C

“At least annually, the Treasurer distributes the conflict of interest statement to each Board member for their signature, and collects the signed statements noting any conflicts stated on the forms. If there are conflicts (there have been none to-date), the Treasurer will bring them to the attention of the President for resolution.”

Form 990, Part VI, Section C, line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Expanding Black Business
EIN
81-5173829
Phone
3125436110
Address
135 S LaSalle St 3025, Chicago, IL 60603

Signing Officer

Name
Mary Houghton
Title
President
Phone
3125436110
Signed
2023-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mary Houghton
Formed
2016
Legal Domicile
Il
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
12

Preparer

Firm
Desmond & Ahern Ltd
Address
10827 S WESTERN AVENUE, CHICAGO, IL 60643-3206
Preparer
Jason L Gierhahn CPA
Phone
7737794720
Supplemental Narrative

Additional Explanations

Form 990, Part XII, line 2C:

“The process has not changed from the prior year.”

Financial Statement Notes

Part X, Line 2:

“FIN 48 Note from Audited Financial Statements: Expanding Black Business NFP was granted an exemption from federal income taxes by the Internal Revenue Service pursuant to the provisions of Internal Revenue Code (IRC) Section 501(c)(3). Contributions to Expanding Black Business NFP qualify for the charitable contribution deduction pursuant to IRS Section 170(b)(1)(A)(vi) and has been classified as a Organization that is not a private Foundation under Section 509(a)(1). The tax-exempt purpose of Expanding Black Business NFP and the nature in which it operates is described above. Management believes the Expanding Black Business NFP continues to operate in compliance with its tax-exempt purpose. Thus, no provision for income tax has been provided for in the consolidated financial statements. Black Vision Fund, LLC is treated as a disregarded entity for income tax purposes. All tax attributes of the Fund are passed through to the sole member (Expanding Black Business NFP) and income taxes, if any, are payable by the sole member. Any interest or penalties assessed to the Fund are recorded in the consolidated statement of activities. No interest or penalties from federal or state taxing authorities were recorded in the accompanying consolidated statement of activities for the year ended December 31, 2022. The Organization has adopted the requirements for accounting for uncertain tax positions and management has determined that the Organization was not required to record a liability related to uncertain tax positions as of December 31, 2022. The Organization's annual information and income tax returns filed with the federal and state governments are subject to examination generally for three years after they are filed. All filings are current.”

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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt018698
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt013646600
IRS990ScheduleA/Total509Grp/TotalAmt013833203
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0187892
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt031063
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt013649834
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt013868789
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FIN 48 Note from Audited Financial Statements: Expanding Black Business NFP was granted an exemption from federal income taxes by the Internal Revenue Service pursuant to the provisions of Internal Revenue Code (IRC) Section 501(c)(3). Contributions to Expanding Black Business NFP qualify for the charitable contribution deduction pursuant to IRS Section 170(b)(1)(A)(vi) and has been classified as a Organization that is not a private Foundation under Section 509(a)(1). The tax-exempt purpose of Expanding Black Business NFP and the nature in which it operates is described above. Management believes the Expanding Black Business NFP continues to operate in compliance with its tax-exempt purpose. Thus, no provision for income tax has been provided for in the consolidated financial statements. Black Vision Fund, LLC is treated as a disregarded entity for income tax purposes. All tax attributes of the Fund are passed through to the sole member (Expanding Black Business NFP) and income taxes, if any, are payable by the sole member. Any interest or penalties assessed to the Fund are recorded in the consolidated statement of activities. No interest or penalties from federal or state taxing authorities were recorded in the accompanying consolidated statement of activities for the year ended December 31, 2022. The Organization has adopted the requirements for accounting for uncertain tax positions and management has determined that the Organization was not required to record a liability related to uncertain tax positions as of December 31, 2022. The Organization's annual information and income tax returns filed with the federal and state governments are subject to examination generally for three years after they are filed. All filings are current.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0248054
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0To make loans to certain Community Development Financial Institutions.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Black Vision Fund LLC
IRS990ScheduleI/RecipientTable/RecipientEIN0872431411
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0609 W Randolph St Suite 200
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Chicago
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0IL
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd060661
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Grants are given only to EEB members. Members are required to report at board meeting to discuss how the funds were used.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990 is reviewed by outside accountant and President. It is then presented to members of governing body for approval prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1At least annually, the Treasurer distributes the conflict of interest statement to each Board member for their signature, and collects the signed statements noting any conflicts stated on the forms. If there are conflicts (there have been none to-date), the Treasurer will bring them to the attention of the President for resolution.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Documents are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The process has not changed from the prior year.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part XII, line 2c:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0Expanding Black Business NFP
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0Black Vision Fund LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0872431411
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt014671784
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0IL
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0Make loans to certain Community Development Financial Institutions
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt0134306
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt0609 W Randolph St Suite 200
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0Chicago
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0IL
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd060661
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd01
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt07500000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1248054
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Black Vision Fund LLC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1Black Vision Fund LLC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0D
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1B
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IL
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt010055312
IRS990/TotalAssetsEOYAmt09968394
IRS990/TotalAssetsGrp/BOYAmt010055312
IRS990/TotalAssetsGrp/EOYAmt09968394
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0167905
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt026362
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0248054
IRS990/TotalFunctionalExpensesGrp/TotalAmt0274416
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt014019
IRS990/TotalLiabilitiesEOYAmt013625
IRS990/TotalLiabilitiesGrp/BOYAmt014019
IRS990/TotalLiabilitiesGrp/EOYAmt013625
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt010041293
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt09954769
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0248054
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt019987
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0187892
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt012
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt010055312
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09968394
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt03891
IRS990/TravelGrp/TotalAmt03891
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0135 S LaSalle St 3025
IRS990/USAddress/CityNm0Chicago
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060603
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0www.ebbcfund.com
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,968,394
Liabilities
$13,625
Net assets
$9,954,769
Revenue
$187,892
Expenses
$274,416
Net income
-$86,524
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$10.00$0.04$9.96$0.16$0.32$0.17
2023Detailed filing. Detailed filing data is available for this year.$10.2$0.02$10.1$0.23$0.06$0.17
2022Detailed filing. Detailed filing data is available for this year.$9.97$0.01$9.95$0.19$0.27$0.09
2021Detailed filing. Detailed filing data is available for this year.$10.1$0.01$10.0$0.03$0.12$0.09
2020Detailed filing. Detailed filing data is available for this year.$10.1$0.02$10.1$13.6$3.52$10.1
Peer Organizations

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