Civic Intelligence

Innovation Black Chamber of Commerce

EIN 84-3410441 • 501(c)3 • Killeen, TX

Profile

Promotes economic development of black-owned and veteran-owned businesses through equity, advocacy, strategic marketing and the advancement of technology.

205 East Avenue DKilleen, TX 76541

innovationbcc.org

Siviq Scores

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

Liabilities / Assets

60th percentile

0.00x

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

501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

62nd percentile

0.00x

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

501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

42nd percentile

-1.3%

Higher net margin than 42% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

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

501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

32nd percentile

-19%

Faster asset growth than 32% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

72nd percentile

20%

Faster revenue growth than 72% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Down

$14,023

Down $3,364 (-19%) from 2022

Liabilities

Flat

$0

Flat from 2022

Net Assets

Down

$14,023

Down $3,364 (-19%) from 2022

Revenue

Up

$120,069

Up $20,329 (+20%) from 2022

Expenses

Up

$121,648

Up $17,435 (+17%) from 2022

Net Income

Up

-$1,579

Up $2,894 (+65%) from 2022

Trend Graphs

Balance Sheet Trend

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

$30K$20K$10K$0Assets 2021: $28,786Liabilities 2021: $6,333Net Assets 2021: $22,4532021Assets 2022: $17,387Liabilities 2022: $0Net Assets 2022: $17,3872022Assets 2023: $14,023Liabilities 2023: $0Net Assets 2023: $14,0232023

Highlighted filing

2023

Assets$14,023
Liabilities$0
Net Assets$14,023

Operations Trend

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

$150K$100K$50K$0-$50KRevenue 2021: $95,516Expenses 2021: $88,196Net Income 2021: $7,3202021Revenue 2022: $99,740Expenses 2022: $104,213Net Income 2022: -$4,4732022Revenue 2023: $120,069Expenses 2023: $121,648Net Income 2023: -$1,5792023

Highlighted filing

2023

Revenue$120,069
Expenses$121,648
Net Income-$1,579

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Dec 5, 2024
Return Version
2023v5.1
Gross Receipts
$120,069
Mission and Program Overview

Mission

Promotes economic development of black-owned and veteran-owned businesses through equity, advocacy, strategic marketing and the advancement of technology.

To promote the economic development of business entities within the He

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$13,629$12,258▼ $1,371
Land, Buildings, and Equipment, Net$1,500$1,200▼ $300
Prepaid Expenses and Deferred Charges$2,193$500▼ $1,693
Intangible Assets$65$65→ $0
Total Assets$17,387$14,023▼ $3,364
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$17,387$14,023▼ $3,364
Total Net Assets Fund Balance$17,387$14,023▼ $3,364
Total Liabilities and Net Assets / Fund Balance$17,387$14,023▼ $3,364

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,200$300-
Compensation and Service Providers

Board Members and Trustees

NameTitle
Ronnie RussellPresidentChairman
Victoria OdomVice President
Mayor Andy WilliamsDirector of Leadership
Tavares BethelDirector of Military A
Angenet WilkersonDirector of Public Rel
Dr Claudette Morgan-scottSecretary
Jacqueline TownsendTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Frontier SoundsSound and Equipment1050 Bluebonnet Dr, Copperas Cove, TX 76522$14,360
Everlasting Designs and DeDecorations and Rentals5718 Birmingham Circle, Killeen, TX 76542$8,808
Creative Call Marketing LLCreation of Online Virtual17515 Spring Cypress Rd Ste STE C 2, Cypress, TX 77429$2,500
Alexander Reign & Co LLCBalloon Decorations2601 Littlewood Dr, Killeen, TX 76549$2,322
Revenue and Support

Revenue Composition

Contributions and Grants
$120,069
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$91,424
Change in Net Assets
$-1,579
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$107,559
Grants and Similar Amounts Paid$12,000
Salaries, Compensation, and Employee Benefits$2,089
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$12,000--$12,000
All Other Expenses-$11,983-$11,983
Advertising$7,862$1,530-$9,392
Other Expenses$11,518$7,270-$7,270
Office Expenses$2,738$184-$2,922
Other Employee Benefits-$2,089-$2,089
Fees for Services Accounting-$1,749-$1,749
Travel-$1,152-$1,152
Total Functional Expenses$95,691$25,957$0$121,648
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
Backup withholding compliance
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI Line 1A

Each member in good standing shall be entitled to cast one vote

Part VI Line 1A

The Executive director and/or the Chairperson of the Membership Committee s

Part VI Line 11B

The accounts and transactions of the Chamber shall be reflected on a full s

Part VI Line 19

Financial statements were available upon request, but not posted on the

Part VI Line 19

WEBSITE.

Filing and Contact Details

Filer

Filer Name
Innovation Black Chamber of Commerce
EIN
84-3410441
In Care Of
% Ronnie Russell
Phone
2544159951
Address
205 East Avenue D, Killeen, TX 76541

Signing Officer

Name
Ronnie Russell
Title
President
Phone
7063587397
Signed
2024-12-05
Discuss with paid preparer
No

Organization Details

Principal Officer
Ronnie Russell
Formed
2019
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
0
Employees
0
Volunteers
100

Preparer

Firm
TE Financial Services LLC
Address
308 W Welton Ave, Temple, TX 76501
Preparer
Jacqueline Townsend
Phone
2544888319
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The accounts and transactions of the Chamber shall be reflected on a full s
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FINANCIAL STATEMENTS WERE AVAILABLE UPON REQUEST, BUT NOT POSTED ON THE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4WEBSITE.
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0TE Financial Services LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0308 W Welton Ave
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Temple
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
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ReturnHeader/PreparerPersonGrp/PreparationDt02024-12-05
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ReturnHeader/ReturnTs02024-12-05T17:01:01-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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