Civic Intelligence

Hbcu Week Foundation Inc.

990 • Fiscal year 2022 • EIN 85-1276996

Jan 01, 2022 to Dec 31, 2022 • Filed on Apr 28, 2023

Organization Profilewww.hbcuweek.org
1022 Coleman StreetWilmington, DE 19805

(302) 544-0799

Siviq Scores

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

Liabilities / Assets

59th percentile

0.11x

Higher debt load relative to assets than 59% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

30th percentile

0.02x

Higher debt load relative to revenue than 30% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

23rd percentile

-8.2%

Higher net margin than 23% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

42nd percentile

$20,000

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

5th percentile

-26%

Faster asset growth than 5% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

87th percentile

75%

Faster revenue growth than 87% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets59th percentile

Assets

Down

$338,938

Down $120,105 (-26%) from 2021

Net Assets

Down

$300,465

Down $158,245 (-34%) from 2021

Liabilities

Up

$38,473

Up $38,140 (+11453%) from 2021

Revenue And Expenses
Liabilities / Revenue30th percentileNet Margin23rd percentile

Revenue

Up

$2,058,154

Up $884,481 (+75%) from 2021

Expenses

Up

$2,226,398

Up $1,260,829 (+131%) from 2021

Net Income

Down

-$168,244

Down $376,348 (-181%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

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

$600K$400K$200K$0Assets 2020: $251,190Liabilities 2020: $584Net Assets 2020: $250,6062020Assets 2021: $459,043Liabilities 2021: $333Net Assets 2021: $458,7102021Assets 2022: $338,938Liabilities 2022: $38,473Net Assets 2022: $300,4652022Assets 2023: $595,327Liabilities 2023: $18,690Net Assets 2023: $576,6372023Assets 2024: $468,784Liabilities 2024: $0Net Assets 2024: $468,7842024

Highlighted filing

2022

Assets$338,938
Liabilities$38,473
Net Assets$300,465
Open 2022 Filing

Operations Trend

Revenue Growth87th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2020: $512,681Expenses 2020: $262,075Net Income 2020: $250,6062020Revenue 2021: $1,173,673Expenses 2021: $965,569Net Income 2021: $208,1042021Revenue 2022: $2,058,154Expenses 2022: $2,226,398Net Income 2022: -$168,2442022Revenue 2023: $2,197,225Expenses 2023: $1,921,102Net Income 2023: $276,1232023Revenue 2024: $2,139,207Expenses 2024: $2,247,060Net Income 2024: -$107,8532024

Highlighted filing

2022

Revenue$2,058,154
Expenses$2,226,398
Net Income-$168,244
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Apr 28, 2023
Return Version
2022v5.0
Gross Receipts
$2,058,154
Mission and Program Overview

Mission

The mission of HBCU Week is to encourage high-school aged youth to enroll into HBCUs, provide scholarship dollars for matriculation and sustain a pipeline for employment from undergraduate school to corporate America.

Most signifcant activies 2022 college fair results - acceptances on the spot - 2641, Scholarships offered 934, full scholarships 325 and partial scholarships 609. Total scholarships offered 23,577,094 by HBCUs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$458,710$300,465▼ $158,245
Cash and Non-Interest-Bearing Accounts$391,283$265,135▼ $126,148
Accounts Receivable$67,760$64,803▼ $2,957
Inventories for Sale or Use-$9,000-
Total Assets$459,043$338,938▼ $120,105
Liabilities
Accounts Payable and Accrued Expenses$333$38,473▲ $38,140
Total Liabilities$333$38,473▲ $38,140
Net Assets / Fund Balance
Net Assets With Donor Restrictions$187,523$250,000▲ $62,477
Net Assets Without Donor Restrictions$204,759$15,135▼ $189,624
Total Net Assets Fund Balance$458,710$300,465▼ $158,245
Total Liabilities and Net Assets / Fund Balance$459,043$338,938▼ $120,105
Compensation and Service Providers
Top Officer Pay42nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Brandon PurnsleyCFOPT$20,000$20,000

Board Members and Trustees

NameTitle
Heyward DamonChairman
Ashley Christopher ESQPresident
Daniel Meachum ESQVice Chairman
Lorin Dale Pierce ESQSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,882,454
Program Service Revenue
$175,700
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,507,509
Change in Net Assets
$-168,244
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,922,484
Grants and Similar Amounts Paid$303,914
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$303,914--$303,914
Advertising-$174,960-$174,960
Travel$5,370$81,236-$86,606
All Other Expenses$4,050$37,083-$41,133
Payment Travel Entrtnmnt Publicly Ofcl-$28,235-$28,235
Insurance-$21,435-$21,435
Fees for Services Management-$20,000-$20,000
Other Expenses$13,549$2,500-$16,049
Fees for Services Accounting-$6,745-$6,745
Office Expenses-$5,266-$5,266
Total Functional Expenses$1,784,918$441,480$0$2,226,398
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
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
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, Part VI, Line 15B

“Draft copies of the 990 were given to all board members for review and voted on for acceptance prior to submission”

Form 990, Part VI, Line 11B

“During a board meeting the board reviews and approves the 990”

Form 990, Part VI, Line 12C

“Our governing documents, conflict of interest policy, and financial statements are made available upon request. As of FY22, none of the documents noted above were requested from the public.”

Filing and Contact Details

Filer

Filer Name
Hbcu Week Foundation Inc
EIN
85-1276996
Phone
3025440799
Address
1022 COLEMAN STREET, WILMINGTON, DE 19805

Signing Officer

Name
Brandon Purnsley
Title
CFO
Phone
3025440799
Signed
2023-04-28
Discuss with paid preparer
No

Organization Details

Formed
2020
Legal Domicile
De
Voting Board Members
4
Independent Board Members
3
Employees
0

Preparer

Firm
Thane C Martin CPA Inc
Address
1 WINDNG RD STE 206, PHILADELPHIA, PA 19131
Preparer
Thane C Martin
Phone
2157321146
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 3B

“Entity is not required tohave an audit at this time.”

Raw XML Appendix345 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/TitleTxt2Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt3Vice Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt4Chairman
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Entity is not required tohave an audit at this time.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2During a board meeting the board reviews and approves the 990
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Our governing documents, conflict of interest policy, and financial statements are made available upon request. As of FY22, none of the documents noted above were requested from the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part XII, Line 3b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 12c
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IRS990/USAddress/AddressLine1Txt01022 Coleman Street
IRS990/USAddress/CityNm0Wilimington
IRS990/USAddress/StateAbbreviationCd0DE
IRS990/USAddress/ZIPCd019805
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0https://www.hbcuweek.org/
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Brandon Purnsley
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum03025440799
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-04-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HBCU WEEK FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0HBCU
ReturnHeader/Filer/EIN0851276996
ReturnHeader/Filer/PhoneNum03025440799
ReturnHeader/Filer/USAddress/AddressLine1Txt01022 COLEMAN STREET
ReturnHeader/Filer/USAddress/CityNm0WILMINGTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0DE
ReturnHeader/Filer/USAddress/ZIPCd019805
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0510442788
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0THANE C MARTIN CPA INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01 WINDNG RD STE 206
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PHILADELPHIA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd019131
ReturnHeader/PreparerPersonGrp/PhoneNum02157321146
ReturnHeader/PreparerPersonGrp/PreparationDt02023-04-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0THANE C MARTIN
ReturnHeader/ReturnTs02023-04-28T04:08:02-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Brandon
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Purnsley
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$338,938
Liabilities
$38,473
Net assets
$300,465
Revenue
$2,058,154
Expenses
$2,226,398
Net income
-$168,244
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.47$0.00$0.47$2.14$2.25$0.11
2023Detailed filing. Detailed filing data is available for this year.$0.60$0.02$0.58$2.20$1.92$0.28
2022Detailed filing. Detailed filing data is available for this year.$0.34$0.04$0.30$2.06$2.23$0.17
2021Detailed filing. Detailed filing data is available for this year.$0.46$0.00$0.46$1.17$0.97$0.21
2020Detailed filing. Detailed filing data is available for this year.$0.25$0.00$0.25$0.51$0.26$0.25