Civic Intelligence

Ubiz Venture Capital

990 • Fiscal year 2021 • EIN 84-3657936

Jan 01, 2021 to Dec 31, 2021 • Filed on Apr 27, 2022

Organization Profile
2930 Prospect AveCleveland, OH 44115

(859) 594-6006

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.86x

Higher debt load relative to assets than 92% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

90th percentile

1.58x

Higher debt load relative to revenue than 90% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

67th percentile

24%

Higher net margin than 67% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

84th percentile

$146,674

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 25.4% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

100th percentile

11432%

Faster asset growth than 100% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

98th percentile

812%

Faster revenue growth than 98% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Up

$1,057,138

Up $1,047,971 (+11432%) from 2020

Net Assets

Up

$147,128

Up $137,961 (+1505%) from 2020

Liabilities

Up

$910,010

Up $910,010 from 2020

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin67th percentile

Revenue

Up

$576,814

Up $513,585 (+812%) from 2020

Expenses

Up

$438,854

Up $384,792 (+712%) from 2020

Net Income

Up

$137,960

Up $128,793 (+1405%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth100th percentile

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

$6.0M$4.0M$2.0M$0Assets 2020: $9,167Liabilities 2020: $0Net Assets 2020: $9,1672020Assets 2021: $1,057,138Liabilities 2021: $910,010Net Assets 2021: $147,1282021Assets 2022: $3,419,987Liabilities 2022: $2,641,465Net Assets 2022: $778,5222022Assets 2023: $4,185,950Liabilities 2023: $3,260,002Net Assets 2023: $925,9482023Assets 2024: $4,595,942Liabilities 2024: $3,789,709Net Assets 2024: $806,2332024

Highlighted filing

2021

Assets$1,057,138
Liabilities$910,010
Net Assets$147,128
Open 2021 Filing

Operations Trend

Revenue Growth98th percentile

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

$1.0M$500K$0-$500KRevenue 2020: $63,229Expenses 2020: $54,062Net Income 2020: $9,1672020Revenue 2021: $576,814Expenses 2021: $438,854Net Income 2021: $137,9602021Revenue 2022: $994,954Expenses 2022: $384,969Net Income 2022: $609,9852022Revenue 2023: $676,300Expenses 2023: $528,874Net Income 2023: $147,4262023Revenue 2024: $733,757Expenses 2024: $853,472Net Income 2024: -$119,7152024

Highlighted filing

2021

Revenue$576,814
Expenses$438,854
Net Income$137,960
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Apr 27, 2022
Return Version
2021v4.2
Gross Receipts
$576,814
Mission and Program Overview

Mission

Funding solutions to disparitites in sma

Vision: UBIZ aspires to be the preeminent organization to directly or collaboratively make business capital readily available to serious African American and other minority led small businesses tha have potential for growth and job creation in the Greater Cleveland area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$752,470$888,626▲ $136,156
Other Notes and Loans Receivable, Net$45,309$168,512▲ $123,203
Pledges and Grants Receivable$81,989--
Total Assets$879,768$1,057,138▲ $177,370
Liabilities
Unsecured Notes Loans Payable$500,000$900,000▲ $400,000
Deferred Revenue$370,600--
Accounts Payable and Accrued Expenses-$7,410-
Other Liabilities-$2,600-
Total Liabilities$870,600$910,010▲ $39,410
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$9,168$147,128▲ $137,960
Total Net Assets Fund Balance$9,168$147,128▲ $137,960
Total Liabilities and Net Assets / Fund Balance$879,768$1,057,138▲ $177,370
Compensation and Service Providers
Top Officer Pay84th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Michael ObiPresidentPT$146,674$146,674

Board Members and Trustees

NameTitle
Lonnie ColemanChairman
David MerkelDirector
Marsha MocabeeDirector
Lynette CrenshawSecretary
Brian HallTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$564,816
Program Service Revenue
$4,696
Investment Income
$0
Other Revenue
$7,302
Change in Net Assets
$137,960
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$269,506
Other Expenses$169,348
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$177,318-$177,318
Payroll Taxes-$65,788-$65,788
Fees for Services Other$1,000$35,587-$36,587
Conferences and Meetings$30,000--$30,000
Insurance-$28,891-$28,891
Fees for Services Legal-$26,463-$26,463
Other Employee Benefits-$26,400-$26,400
Office Expenses-$21,796-$21,796
Interest$5,000--$5,000
All Other Expenses-$4,680-$4,680
Other Expenses$6,050$4,398-$4,398
Total Functional Expenses$42,050$396,804$0$438,854
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interest Payable$2,500
Other Payable$100
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Members or stockholder classes and rights Part VI line 6

“UPON REQUEST”

Member election for additional members Part VI line 7A

“UPON REQUEST”

Governing body decisions Part VI line 7B

“UPON REQUEST”

Form 990 governing body review Part VI line 11

“Organizations Process to Review Form 990 A copy of the Federal 990 was provided to the board of directors including schedules. The federal Form 990 will not be filed until all members of the board have had an opportunity to review the completed form 990.”

Conflict of interest policy compliance Part VI line 12C

“Enforcement of Conflicts Policy The Board of Directors are asked to review the policy annually.”

Other officer or key employee compensation Part VI line 15B

“No compensation was given”

Form 990 availability to public Part VI line 18

“Upon Request in Writing.”

Governing documents etc available to public Part VI line 19

“Consistent with the requirements of section 6104 of the IRC and the regulations thereunder, copies of the organizations Form 990 and governing documents shall be made available upon request, in a timely maner, and subject to the charges permitted by law to any individual who request, in a timely maner, and subject to the charges permitted by law to any individual who request it.”

Filing and Contact Details

Filer

Filer Name
Ubiz Venture Capital
EIN
84-3657936
Address
2930 PROSPECT AVE, Cleveland, OH 44115

Signing Officer

Name
Michael Obi President
Title
CEO
Phone
8595946006
Signed
2022-04-27
Discuss with paid preparer
No

Organization Details

Formed
2019
Legal Domicile
Oh
Voting Board Members
4
Independent Board Members
4
Employees
3
Volunteers
5

Preparer

Firm
RTW Xxact Enterprises LLC
Address
6804 James B R Memorial Dr, Stone Mountain, GA 30083
Preparer
Robbie Terry Washington
Phone
4704415140
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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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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/PreparerPersonGrp/PhoneNum04704415140
ReturnHeader/PreparerPersonGrp/PreparationDt02022-07-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Robbie Terry Washington
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ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,057,138
Liabilities
$910,010
Net assets
$147,128
Revenue
$576,814
Expenses
$438,854
Net income
$137,960
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.60$3.79$0.81$0.73$0.85$0.12
2023Detailed filing. Detailed filing data is available for this year.$4.19$3.26$0.93$0.68$0.53$0.15
2022Detailed filing. Detailed filing data is available for this year.$3.42$2.64$0.78$0.99$0.38$0.61
2021Detailed filing. Detailed filing data is available for this year.$1.06$0.91$0.15$0.58$0.44$0.14
2020Detailed filing. Detailed filing data is available for this year.$0.01$0.00$0.01$0.06$0.05$0.01