Civic Intelligence

Black Wealth Summit Inc.

990 • Fiscal year 2021 • EIN 85-2809001

Jan 01, 2021 to Dec 31, 2021 • Filed on Mar 20, 2022

Organization Profileblackwealthsummit.com
9501 Sheridan Street STE 200Lanham, MD 20706

(301) 577-4111

Siviq Scores

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

Liabilities / Assets

29th percentile

0.00x

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

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

29th percentile

0.00x

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

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

64th percentile

22%

Higher net margin than 64% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

52nd percentile

$0

Higher top officer pay than 52% of similar nonprofits.

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

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Balance Sheet
Liabilities / Assets29th percentile

Assets

$118,555

No earlier filing loaded for comparison.

Net Assets

$118,555

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue29th percentileNet Margin64th percentile

Revenue

$533,255

No earlier filing loaded for comparison.

Expenses

$415,685

No earlier filing loaded for comparison.

Net Income

$117,570

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$400K$200K$0-$200K-$400KAssets 2021: $118,555Liabilities 2021: $0Net Assets 2021: $118,5552021Assets 2022: $114,520Liabilities 2022: $123,000Net Assets 2022: -$8,4802022Assets 2023: $18,953Liabilities 2023: $180,000Net Assets 2023: -$161,0472023Assets 2024: $123,893Liabilities 2024: $328,189Net Assets 2024: -$204,2962024Assets 2025: $154,247Liabilities 2025: $296,338Net Assets 2025: -$142,0912025

Highlighted filing

2021

Assets$118,555
Liabilities$0
Net Assets$118,555
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0-$500KRevenue 2021: $533,255Expenses 2021: $415,685Net Income 2021: $117,5702021Revenue 2022: $802,454Expenses 2022: $979,749Net Income 2022: -$177,2952022Revenue 2023: $478,861Expenses 2023: $631,427Net Income 2023: -$152,5662023Revenue 2024: $221,775Expenses 2024: $242,839Net Income 2024: -$21,0642024Revenue 2025: $356,609Expenses 2025: $294,403Net Income 2025: $62,2062025

Highlighted filing

2021

Revenue$533,255
Expenses$415,685
Net Income$117,570
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Mar 20, 2022
Return Version
2021v4.1
Gross Receipts
$533,255
Mission and Program Overview

Mission

To create an inclusive wealth and financial educational experience, uniquely designed to bring together champions and channels that will foster prosperity for Black lives.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$985$118,555▲ $117,570
Total Assets$985$118,555▲ $117,570
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$985$118,555▲ $117,570
Total Net Assets Fund Balance$985$118,555▲ $117,570
Total Liabilities and Net Assets / Fund Balance$985$118,555▲ $117,570
Compensation and Service Providers
Top Officer Pay52nd percentile

Board Members and Trustees

NameTitle
Cedric NashPresident
Michael RobinsonVice-President
Renea J PierreSecretary
Elbert RobinsonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Robinson Group Consulting IncConsulting Service57 East Delaware Place Suite 1305, Chicago, IL 60611-1609$102,150
Revenue and Support

Revenue Composition

Contributions and Grants
$533,255
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$533,255
Change in Net Assets
$117,570
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$385,685
Grants and Similar Amounts Paid$30,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising-$153,767-$153,767
Other Expenses$121,682$1-$121,683
Fees for Services Management-$106,725-$106,725
Grants to Domestic Individuals$30,000--$30,000
Information Technology-$1,454-$1,454
Fees for Services Legal-$1,047-$1,047
Office Expenses-$373-$373
Total Functional Expenses$151,682$264,003$0$415,685
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
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
No
Management duties delegated
No

Governance Explanations

Officer directors etc family relationship Part VI line 2

“Cedric Nash and Elbert Robinson have a common ownership interest in another business entity unrelated to this entity.”

Form 990 governing body review Part VI line 11

“Copies of this Form 990 were disseminated to the Board of Directors for their review and approval prior to the submission of said form.”

Conflict of interest policy compliance Part VI line 12C

“The Board of Directors has adopted and established a Conflict of interest policy. This policy applies to the board members, officers and managers of the organization. There is an annual affirmation clause in the policy that states that all directors, officers and managers shall annually affirm this policy.”

Governing documents etc available to public Part VI line 19

“The Form 990 will be made available to the public upon written request to the administrative headquarters located in Lanham, MD.”

Filing and Contact Details

Filer

Filer Name
Black Wealth Summit Inc
EIN
85-2809001
Address
9501 Sheridan Street STE 200, Lanham, MD 20706

Signing Officer

Name
Cedric Nash Director
Title
President
Phone
3015774111
Signed
2022-03-20
Discuss with paid preparer
No

Organization Details

Principal Officer
Cedric Nash Director
Formed
2020
Legal Domicile
Md
Voting Board Members
4
Independent Board Members
2
Employees
0
Volunteers
6

Preparer

Firm
Philos Tax and Accounting Services
Address
321 Vale Summit S, Laurel, MD 20724
Preparer
Ted Petito
Phone
3018757125
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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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Filings

Displayed year

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

Open filing
Assets
$118,555
Liabilities
$0
Net assets
$118,555
Revenue
$533,255
Expenses
$415,685
Net income
$117,570
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.54$2.96$1.42$3.57$2.94$0.62
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.24$3.28$2.04$2.22$2.43$0.21
2023Detailed filing. Detailed filing data is available for this year.$0.19$1.80$1.61$4.79$6.31$1.53
2022Detailed filing. Detailed filing data is available for this year.$1.15$1.23$0.08$8.02$9.80$1.77
2021Detailed filing. Detailed filing data is available for this year.$1.19$0.00$1.19$5.33$4.16$1.18