Civic Intelligence

Minoritywealthgap

990EZ • Fiscal year 2023 • EIN 88-3800775

Jan 01, 2023 to Dec 31, 2023 • Filed on Mar 30, 2024

10650 Moorpark St 110Toluca Lake, CA 91602

(818) 480-2171

Siviq Scores

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

Liabilities / Assets

99th percentile

10.41x

Higher debt load relative to assets than 99% of similar nonprofits.

2023 filings • NTEE R • <$500k nonprofits • Source year 2023

Liabilities / Revenue

93rd percentile

0.60x

Higher debt load relative to revenue than 93% of similar nonprofits.

2023 filings • NTEE R • <$500k nonprofits • Source year 2023

Net Margin

12th percentile

-54%

Higher net margin than 12% of similar nonprofits.

2023 filings • NTEE R • <$500k nonprofits • Source year 2023

Top Officer Pay

73rd percentile

$0

Higher top officer pay than 73% of similar nonprofits.

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

2023 filings • NTEE R • <$500k nonprofits • Source year 2023

Asset Growth

Score unavailable

No value available

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

Source year 2023

Revenue Growth

Score unavailable

No value available

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

Source year 2023

Assets

$7,098

No earlier filing loaded for comparison.

Net Assets

-$66,776

No earlier filing loaded for comparison.

Liabilities

$73,874

No earlier filing loaded for comparison.

Revenue

$123,542

No earlier filing loaded for comparison.

Expenses

$190,318

No earlier filing loaded for comparison.

Net Income

-$66,776

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$100K$50K$0-$50K-$100KAssets 2023: $7,098Liabilities 2023: $73,874Net Assets 2023: -$66,7762023Assets 2024: $81,226Net Assets 2024: $81,2262024Assets 2025: $91,186Liabilities 2025: $11,155Net Assets 2025: $80,0312025

Highlighted filing

2023

Assets$7,098
Liabilities$73,874
Net Assets-$66,776

Operations Trend

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

$200K$100K$0-$100KRevenue 2023: $123,542Expenses 2023: $190,318Net Income 2023: -$66,7762023Revenue 2024: $128,847Expenses 2024: $47,621Net Income 2024: $81,2262024Revenue 2025: $117,915Expenses 2025: $119,110Net Income 2025: -$1,1952025

Highlighted filing

2023

Revenue$123,542
Expenses$190,318
Net Income-$66,776
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Mar 30, 2024
Return Version
2023v5.0
Gross Receipts
$123,542
Mission and Program Overview

Mission

The mission of the Minority Wealth Gap organization is to minimize and eliminate the Wealth Gap through a War on Poverty in the Black and Hispanic Community. Black and Hispanic families have difficulty ascending the economic ladder. Black and Hispanic communities have high numbers of unbanked or underbanked populations.

Program Services

DescriptionGrantsExpenses
Tech-Driven Empowerment: A Recap of Minority Wealth Gap's Impactful 2023In the ever-evolving landscape of social empowerment, Minority Wealth Gap (MWG) stands as a beacon of progress, steering under resourced communities toward a brighter future. The narrative of our journey in 2023 unfolds through a series of TechSoup events that not only fostered knowledge-sharing but also fueled our commitment to making a lasting impact.The year commenced with a dynamic discussion on Google ads and Digital Marketing, intertwining insights from Npower and HTA recruitment efforts for the Technology and Hospitality Sector training. This marked the beginning of a concerted effort to equip our community members with the skills and tools needed to thrive in a tech-centric world.Our endeavors extended beyond the digital realm as we orchestrated a compelling Mental Health open discussion. Led by our community Doctor, Ms. Shabnam Balali, the session aimed to destigmatize mental health challenges and promote accessibility to crucial resources.The breadth of our engagement expanded further, encompassing financial planning discussions facilitated by World Financial Group and Primerica. This comprehensive approach underscored our commitment to addressing the multifaceted needs of the communities we serve.In the fight against Domestic Violence, MWG Director Ms. Catherine Turyamureeba spearheaded discussions under the Bernice Program. Her impactful role transcended our immediate community, as she shared insights at the Banyankole Kweterana International (BKI) online event during October's Domestic Violence Month. Catherine's presence illuminated the importance of solidarity and support for those affected.As we reflected on the profound impact of our events, a surge in pleas for help via our website underscored the pressing needs of those grappling with domestic violence, homelessness, and more. This underscored the urgency of our mission and fortified our resolve to continue being a pillar of support.Amidst the challenges, we were fortunate to receive scholarships that allowed us to attend workforce development seminars with the Department of Labor and California Forward. These opportunities not only enriched our knowledge but also forged partnerships that will pave the way for sustainable career pathways for the communities we serve.Looking ahead to 2024, we are poised for growth and are eager to extend our outreach to the Hispanic Community. With gratitude for our current partners, sponsors, and networks, we anticipate scaling our efforts to provide employment opportunities and uplift those in need.Minority Wealth Gap: Where Tech meets Empowerment, and Every Community Thrives.-$190,318
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
JEMBA SENKANDWAPresident & CEO-$0--
Filing and Contact Details

Filer

Filer Name
Minoritywealthgap
EIN
88-3800775
Phone
8184802171
Address
10650 MOORPARK ST 110, TOLUCA LAKE, CA 91602

Signing Officer

Name
Jemba Senkandwa
Title
President & CEO
Signed
2024-03-30
Discuss with paid preparer
Yes

Preparer

Firm
Inland Business & Mgmt Services Inc
Address
375 Cameo Way, Brea, CA 92823
Preparer
Michael Budka
Phone
9097303545
Supplemental Narrative

Additional Explanations

Other Expenses.1001

Advertising and Promotion $136569

Other Expenses.1002

Office Expenses $7636

Other Expenses.1005

Travel $9249

Other Expenses.1007

Conferences, Conventions, and Meetings $3460

Other Expenses.1010

Amortization $5000

Other Expenses.1012

Insurance $767

Other Expenses.1

Contact and professional fees $17512

Other Expenses.2

Charitable donatiions $1924

Other Expenses.3

AWARDS AND GRANTS $1198

Other Expenses.4

SUPPLIES $1113

Other Expenses.5

AUTO EXPENSE $119

Other Expenses.6

DUES AND FEES $85

Other Expenses.7

REPAIRS $64

Other Assets.1012

Intangible Assets - Beginning $0 Intangible Assets - Ending $5596

Total Liabilities.1006

Payable to Officers, Directors, Etc. - Beginning $0 Payable to Officers, Directors, Etc. - Ending $44487

Total Liabilities.1

CREDIT CARDS PAYABLE - Beginning $0 CREDIT CARDS PAYABLE - Ending $29387

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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