Civic Intelligence

Usbc Economic Development Corporation

EIN 90-0899831 • 501(c)3 • Washington, DC

Profile

The organization was formed to assist local Black Chambers of Commerce nationally with small business development and growth and to represent the business interest of African American businesses throughout the US.

1001 Connecticut Ave NW STE 504Washington, DC 20036

www.usblackchamber.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

47th percentile

0.10x

Higher debt load relative to assets than 47% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

51st percentile

0.16x

Higher debt load relative to revenue than 51% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

66th percentile

13%

Higher net margin than 66% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

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

501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

71st percentile

12%

Faster asset growth than 71% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

64th percentile

16%

Faster revenue growth than 64% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets47th percentile

Assets

Up

$5,220,248

Up $569,185 (+12%) from 2022

Liabilities

Up

$538,961

Up $129,993 (+32%) from 2022

Net Assets

Up

$4,681,287

Up $439,192 (+10%) from 2022

Operations
Liabilities / Revenue51st percentileNet Margin66th percentile

Revenue

Up

$3,266,528

Up $442,123 (+16%) from 2022

Expenses

Up

$2,827,336

Up $30,093 (+1.1%) from 2022

Net Income

Up

$439,192

Up $412,030 (+1517%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth71st percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0-$2.0MAssets 2013: $472Net Assets 2013: $4722013Assets 2014: $91,068Net Assets 2014: $91,0682014Assets 2015: $107,243Liabilities 2015: $0Net Assets 2015: $107,2432015Assets 2016: $300,453Liabilities 2016: $99,703Net Assets 2016: $200,7502016Assets 2017: $97,794Liabilities 2017: $134,069Net Assets 2017: -$36,2752017Assets 2018: $119,205Liabilities 2018: $59,367Net Assets 2018: $59,8382018Assets 2019: $565,074Liabilities 2019: $485,693Net Assets 2019: $79,3812019Assets 2020: $3,090,122Liabilities 2020: $243,742Net Assets 2020: $2,846,3802020Assets 2021: $4,616,412Liabilities 2021: $369,914Net Assets 2021: $4,246,4982021Assets 2022: $4,651,063Liabilities 2022: $408,968Net Assets 2022: $4,242,0952022Assets 2023: $5,220,248Liabilities 2023: $538,961Net Assets 2023: $4,681,2872023

Highlighted filing

2023

Assets$5,220,248
Liabilities$538,961
Net Assets$4,681,287
Open 2023 Filing

Operations Trend

Revenue Growth64th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2013: $35,000Expenses 2013: $34,528Net Income 2013: $4722013Revenue 2014: $145,295Expenses 2014: $54,699Net Income 2014: $90,5962014Revenue 2015: $283,152Expenses 2015: $266,977Net Income 2015: $16,1752015Revenue 2016: $630,157Expenses 2016: $529,800Net Income 2016: $100,3572016Revenue 2017: $1,033,521Expenses 2017: $1,070,545Net Income 2017: -$37,0242017Revenue 2018: $356,000Expenses 2018: $260,853Net Income 2018: $95,1472018Revenue 2019: $445,000Expenses 2019: $427,517Net Income 2019: $17,4832019Revenue 2020: $2,939,615Expenses 2020: $222,933Net Income 2020: $2,716,6822020Revenue 2021: $2,576,854Expenses 2021: $1,176,736Net Income 2021: $1,400,1182021Revenue 2022: $2,824,405Expenses 2022: $2,797,243Net Income 2022: $27,1622022Revenue 2023: $3,266,528Expenses 2023: $2,827,336Net Income 2023: $439,1922023

Highlighted filing

2023

Revenue$3,266,528
Expenses$2,827,336
Net Income$439,192
Open 2023 Filing

Filings

Most recent year

2023 • Form 990Summary only. Only limited summary data is available for this year.

Open filing
Assets
$5,220,248
Liabilities
$538,961
Net assets
$4,681,287
Revenue
$3,266,528
Expenses
$2,827,336
Net income
$439,192
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$5.22$0.54$4.68$3.27$2.83$0.44
2022Summary only. Only limited summary data is available for this year.$4.65$0.41$4.24$2.82$2.80$0.03
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.62$0.37$4.25$2.58$1.18$1.40
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.09$0.24$2.85$2.94$0.22$2.72
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.57$0.49$0.08$0.45$0.43$0.02
2018Summary only. Only limited summary data is available for this year.$0.12$0.06$0.06$0.36$0.26$0.10
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.10$0.13$0.04$1.03$1.07$0.04
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.30$0.10$0.20$0.63$0.53$0.10
2015Detailed filing. Detailed filing data is available for this year.$0.11$0.00$0.11$0.28$0.27$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.09$0.09$0.15$0.05$0.09
2013Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.04$0.03$0.00
Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2021 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 11, 2022
Return Version
2021v4.2
Gross Receipts
$2,576,854
Mission and Program Overview

Mission

The organization was formed to assist local Black Chambers of Commerce nationally with small business development and growth and to represent the business interest of African American businesses throughout the US.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,411,334$4,185,854▲ $1,774,520
Accounts Receivable$192,056$227,055▲ $34,999
Other Notes and Loans Receivable, Net$485,600$202,371▼ $283,229
Total Assets$3,090,122$4,616,412▲ $1,526,290
Other Assets Total$1,132$1,132→ $0
Liabilities
Other Liabilities$211,600$314,573▲ $102,973
Accounts Payable and Accrued Expenses$32,142$55,341▲ $23,199
Total Liabilities$243,742$369,914▲ $126,172
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,846,380$4,246,498▲ $1,400,118
Total Net Assets Fund Balance$2,846,380$4,246,498▲ $1,400,118
Total Liabilities and Net Assets / Fund Balance$3,090,122$4,616,412▲ $1,526,290

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$1,132--
Compensation and Service Providers
Top Officer Pay23rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ronald BusbyExecutive DirectorPT$316,000$316,000

Board Members and Trustees

NameTitle
Charles ONealChairman of the Board
Antwanye FordVice Chair
Aimee GriffinSecretary
Bridgett GagneTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,576,854
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$396,854
Change in Net Assets
$1,400,118
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$633,887
Salaries, Compensation, and Employee Benefits$542,849
Total Fundraising Expense$34,020
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$375,471$103,679$27,184$506,334
Payroll Taxes$32,288--$32,288
Office Expenses$14,792$3,945$986$19,723
Other Expenses$14,171$3,779$945$18,895
Advertising-$10,144-$10,144
Travel$4,431$1,704-$6,135
Other Employee Benefits-$4,227-$4,227
All Other Expenses$690$395-$1,085
Total Functional Expenses$644,417$498,299$34,020$1,176,736
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
Due to USBC$314,573
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Yes
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 governing body review Part VI line 11

“The governing body reviews the 990 prior to submission.”

CEO executive director top management comp Part VI line 15A

“The process for determining compensation of the CEO included a review andapproval of the board members, including comparability data and contemporaneoussubstantiation of the deliberation and decision.”

Governing documents etc available to public Part VI line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
USBC Economic Development Corporation
EIN
90-0899831
Address
1001 Connecticut Ave NW STE 504, Washington, DC 20036

Signing Officer

Name
Ronald Busby
Title
Executive Direc
Phone
2024638722
Signed
2022-11-11
Discuss with paid preparer
No

Organization Details

Principal Officer
Ronald Busby
Formed
2013
Legal Domicile
Dc
Voting Board Members
5
Independent Board Members
4
Employees
4

Preparer

Firm
Benford Brown & Associates LLc
Address
8334 S Stony Island Ave, Chicago, IL 60617
Preparer
Marcus Gulley
Phone
7737311300
Supplemental Narrative

Additional Explanations

List of other fees for services expenses Part IX line 11G

“The organization utilizes the services for various tasks such as marketing, public relations, and business management.”

Raw XML Appendix357 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.

Path#Value
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IRS990/Form990PartVIISectionAGrp/TitleTxt1Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt3Chairman of the Board
IRS990/Form990PartVIISectionAGrp/TitleTxt4Vice Chair
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0other
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0314573
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Due to USBC
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01132
IRS990ScheduleD/TotalLiabilityAmt0314573
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0316000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Ronald Busby
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Executive Director
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0316000
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The governing body reviews the 990 prior to submission.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The process for determining compensation of the CEO included a review andapproval of the board members, including comparability data and contemporaneoussubstantiation of the deliberation and decision.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organization utilizes the services for various tasks such as marketing, public relations, and business management.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3List of other fees for services expenses Part IX line 11g
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0DC
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03090122
IRS990/TotalAssetsEOYAmt04616412
IRS990/TotalAssetsGrp/BOYAmt03090122
IRS990/TotalAssetsGrp/EOYAmt04616412
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt02576854
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt034020
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0498299
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0644417
IRS990/TotalFunctionalExpensesGrp/TotalAmt01176736
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0243742
IRS990/TotalLiabilitiesEOYAmt0369914
IRS990/TotalLiabilitiesGrp/BOYAmt0243742
IRS990/TotalLiabilitiesGrp/EOYAmt0369914
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02846380
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04246498
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0644417
IRS990/TotalReportableCompFromOrgAmt0316000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02576854
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03090122
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04616412
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/ManagementAndGeneralAmt01704
IRS990/TravelGrp/ProgramServicesAmt04431
IRS990/TravelGrp/TotalAmt06135
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL2
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd000
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Ronald Busby
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Direc
ReturnHeader/BusinessOfficerGrp/PhoneNum02024638722
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0USBC Economic Development Corporation
ReturnHeader/Filer/BusinessNameControlTxt0USBC
ReturnHeader/Filer/EIN0900899831
ReturnHeader/Filer/USAddress/AddressLine1Txt01001 Connecticut Ave NW STE 504
ReturnHeader/Filer/USAddress/CityNm0Washington
ReturnHeader/Filer/USAddress/StateAbbreviationCd0DC
ReturnHeader/Filer/USAddress/ZIPCd020036
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0364124699
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Benford Brown & Associates LLc
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt08334 S Stony Island Ave
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Chicago
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060617
ReturnHeader/PreparerPersonGrp/PhoneNum07737311300
ReturnHeader/PreparerPersonGrp/PreparationDt02022-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Marcus Gulley
ReturnHeader/ReturnTs02022-11-15T11:14:32-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Ronald
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Busby
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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