Civic Intelligence

Blac Inc.

990 • Fiscal year 2023 • EIN 85-4258202

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 16, 2024

Organization ProfileBLACINTERNSHIP.ORG
PO Box 6000Chicago, IL 60680

(847) 345-8607

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.17x

Higher debt load relative to assets than 83% of similar nonprofits.

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

Liabilities / Revenue

78th percentile

0.05x

Higher debt load relative to revenue than 78% of similar nonprofits.

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

Net Margin

52nd percentile

4.4%

Higher net margin than 52% of similar nonprofits.

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

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

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

Asset Growth

81st percentile

37%

Faster asset growth than 81% of similar nonprofits.

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

Revenue Growth

82nd percentile

55%

Faster revenue growth than 82% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$138,721

Up $37,193 (+37%) from 2022

Net Assets

Up

$115,599

Up $19,221 (+20%) from 2022

Liabilities

Up

$23,122

Up $17,972 (+349%) from 2022

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin52nd percentile

Revenue

Up

$436,224

Up $154,507 (+55%) from 2022

Expenses

Up

$417,003

Up $211,148 (+103%) from 2022

Net Income

Down

$19,221

Down $56,641 (-75%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth81st percentile

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

$150K$100K$50K$0Assets 2021: $21,161Liabilities 2021: $645Net Assets 2021: $20,5162021Assets 2022: $101,528Liabilities 2022: $5,150Net Assets 2022: $96,3782022Assets 2023: $138,721Liabilities 2023: $23,122Net Assets 2023: $115,5992023Assets 2024: $61,536Liabilities 2024: $7,013Net Assets 2024: $54,5232024

Highlighted filing

2023

Assets$138,721
Liabilities$23,122
Net Assets$115,599
Open 2023 Filing

Operations Trend

Revenue Growth82nd percentile

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

$600K$400K$200K$0-$200KRevenue 2021: $155,241Expenses 2021: $134,725Net Income 2021: $20,5162021Revenue 2022: $281,717Expenses 2022: $205,855Net Income 2022: $75,8622022Revenue 2023: $436,224Expenses 2023: $417,003Net Income 2023: $19,2212023Revenue 2024: $356,509Expenses 2024: $417,585Net Income 2024: -$61,0762024

Highlighted filing

2023

Revenue$436,224
Expenses$417,003
Net Income$19,221
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 16, 2024
Return Version
2023v5.0
Gross Receipts
$436,224
Mission and Program Overview

Mission

To bring more young black people into advertising, ensuring they can fully express themselves, find community, and ultimately lead.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$94,028$138,721▲ $44,693
Pledges and Grants Receivable$7,500--
Total Assets$101,528$138,721▲ $37,193
Liabilities
Accounts Payable and Accrued Expenses$5,150$14,461▲ $9,311
Other Liabilities-$8,661-
Total Liabilities$5,150$23,122▲ $17,972
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$96,378$115,599▲ $19,221
Total Net Assets Fund Balance$96,378$115,599▲ $19,221
Total Liabilities and Net Assets / Fund Balance$101,528$138,721▲ $37,193
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Christopher WitherspoonChairman
Christy HilerSecreary
Avigail SchlosserTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$435,941
Investment Income
$283
Other Revenue
$0
Change in Net Assets
$19,221
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$246,942
Salaries, Compensation, and Employee Benefits$170,061
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$220,717--$220,717
Other Salaries and Wages$156,635--$156,635
Fees for Services Legal$23,765--$23,765
Payroll Taxes$13,426--$13,426
Insurance$2,460--$2,460
Total Functional Expenses$417,003$0$0$417,003
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
Federal Employment Taxes$5,594
Pa Income Tax$1,485
Pa Unemployment Tax$1,090
Il Unemployment Tax$366
Federal Unemployment Tax$126
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

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Blac Inc
EIN
85-4258202
Address
PO BOX 6000, CHICAGO, IL 60680
Doing Business As
Blac Inc

Signing Officer

Name
Avigail Schlosser
Title
Treasurer
Phone
8473458607
Signed
2024-07-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christopher Witherspoon
Formed
2021
Voting Board Members
10
Independent Board Members
10
Employees
1

Preparer

Firm
Ravi Dutt CPA
Address
6 OAK BROOK CLUB DRIVE UNIT J105, OAK BROOK, IL 60523
Preparer
Ravi Dutt CPA
Phone
6302058904
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“In 2022 blac hired its first full-time staff member, welcoming an executive director to lead the organization. Additionally, part-time temporary consultants were brought in to support project-based efforts and the expansion of the summer internship program. Blac's signature program, the blac internship program, doubled in size and reach in 2022, expanding from 11 host agencies supporting 32 interns, to 22 host agencies nationwide supporting 59 program interns. The program expanded to 12 weeks this year, from 8 weeks in 2021, and was able to educate, compensate, train, and provide hands-on experiences to interns through the immersive program prepping participants for roles in advertising agencies.”

Form 990, Part IX, Line 11G

“Advertising 3,470 0 0 bank charges 1,992 0 0 contractors 87,269 0 0 gifts 6,976 0 0 business meeting meals 5,152 0 0 office supplies & software 10,018 0 0 other business expenses 5,016 0 0 quick book fees 73 0 0 licenses & taxes 450 0 0 traing 97,125 0 0 travel 676 0 0 bad debt 2,500 0 0 total 220,717 0 0”

Raw XML Appendix275 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/ProgSrvcAccomActyOtherGrp/Desc0IN 2022 BLAC HIRED ITS FIRST FULL-TIME STAFF MEMBER, WELCOMING AN EXECUTIVE DIRECTOR TO LEAD THE ORGANIZATION. ADDITIONALLY, PART-TIME TEMPORARY CONSULTANTS WERE BROUGHT IN TO SUPPORT PROJECT-BASED EFFORTS AND THE EXPANSION OF THE SUMMER INTERNSHIP PROGRAM. BLAC'S SIGNATURE PROGRAM, THE BLAC INTERNSHIP PROGRAM, DOUBLED IN SIZE AND REACH IN 2022, EXPANDING FROM 11 HOST AGENCIES SUPPORTING 32 INTERNS, TO 22 HOST AGENCIES NATIONWIDE SUPPORTING 59 PROGRAM INTERNS. THE PROGRAM EXPANDED TO 12 WEEKS THIS YEAR, FROM 8 WEEKS IN 2021, AND WAS ABLE TO EDUCATE, COMPENSATE, TRAIN, AND PROVIDE HANDS-ON EXPERIENCES TO INTERNS THROUGH THE IMMERSIVE PROGRAM PREPPING PARTICIPANTS FOR ROLES IN ADVERTISING AGENCIES.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IN 2022 BLAC HIRED ITS FIRST FULL-TIME STAFF MEMBER, WELCOMING AN EXECUTIVE DIRECTOR TO LEAD THE ORGANIZATION. ADDITIONALLY, PART-TIME TEMPORARY CONSULTANTS WERE BROUGHT IN TO SUPPORT PROJECT-BASED EFFORTS AND THE EXPANSION OF THE SUMMER INTERNSHIP PROGRAM. BLAC'S SIGNATURE PROGRAM, THE BLAC INTERNSHIP PROGRAM, DOUBLED IN SIZE AND REACH IN 2022, EXPANDING FROM 11 HOST AGENCIES SUPPORTING 32 INTERNS, TO 22 HOST AGENCIES NATIONWIDE SUPPORTING 59 PROGRAM INTERNS. THE PROGRAM EXPANDED TO 12 WEEKS THIS YEAR, FROM 8 WEEKS IN 2021, AND WAS ABLE TO EDUCATE, COMPENSATE, TRAIN, AND PROVIDE HANDS-ON EXPERIENCES TO INTERNS THROUGH THE IMMERSIVE PROGRAM PREPPING PARTICIPANTS FOR ROLES IN ADVERTISING AGENCIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ADVERTISING 3,470 0 0 BANK CHARGES 1,992 0 0 CONTRACTORS 87,269 0 0 GIFTS 6,976 0 0 BUSINESS MEETING MEALS 5,152 0 0 OFFICE SUPPLIES & SOFTWARE 10,018 0 0 OTHER BUSINESS EXPENSES 5,016 0 0 QUICK BOOK FEES 73 0 0 LICENSES & TAXES 450 0 0 TRAING 97,125 0 0 TRAVEL 676 0 0 BAD DEBT 2,500 0 0 TOTAL 220,717 0 0
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ReturnHeader/PreparerPersonGrp/PreparationDt02024-07-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RAVI DUTT CPA
ReturnHeader/ReturnTs02024-07-28T09:32:04-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$138,721
Liabilities
$23,122
Net assets
$115,599
Revenue
$436,224
Expenses
$417,003
Net income
$19,221
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.62$0.07$0.55$3.57$4.18$0.61
2023Detailed filing. Detailed filing data is available for this year.$1.39$0.23$1.16$4.36$4.17$0.19
2022Detailed filing. Detailed filing data is available for this year.$1.02$0.05$0.96$2.82$2.06$0.76
2021Detailed filing. Detailed filing data is available for this year.$0.21$0.01$0.21$1.55$1.35$0.21