National Association of Black Accountants Inc
- Assets
- $1.4m
- Revenue
- $198.0k
- Investments
- $1.0m
- Employees
- 0
- Location
- Boston, MA
- Founding
- 11/1973
- Data as of
- 06/2019
- EIN
- 04-2791194
Organization Overview
National Association of Black Accountants Inc, operating under the name Metropolitan Boston Chapter, is located in Boston, MA. The organization was established in 1973. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. Metropolitan Boston Chapter is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2019, Metropolitan Boston Chapter generated $198.0k in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $143.0k during the year ending 06/2019. As we would expect to see with falling revenues, expenses have declined by (5.4%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOATE AND DEVELOP THE PROFESSIONAL SKILLS OF OUR MEMBERS. TO INCREASE THE NUMBER OF AFRICAN AMERICANS IN ACCOUNTING & FINANCE, SCHOLARSHIPS FOR BLACK & AFRICAN AMERICAN STUDENTS - EDUCATIONAL PROGRAMS TO PROVIDE OPPORTUNITIES FOR MEMBERS TO FULFILL THEIR CIVIC RESPONSIBILITIES; TO ENCOURAGE LONG-TERM FINANCIAL STABILITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT DEVELOPMENT - SCHOLARSHIPS & EDUCATIONAL PROGRAMS MEMBERSHIP SERVICES HIGH SCHOOL AND COLLEGE STUDENT PROGRAMS ACCOUNTING & FINANCE PIPELINE INITIATIVE (AFPI) CONFERENCES, TRAINING, PROFESSIONAL DEVELOPMENT AWARDED $14,500 IN SCHOLARSHIP TO NABA COLLEGE STUDENTS.
ANNUAL MINORITY BUSINESS CONFERENCE, EBONY WINTER GALA, ANNUAL SCHOLARSHIPS AND AWARD RECEPTION. AMBC - ANNUAL CAREER FARE FOR STUDENTS, PROFESSIONALS AND BUSINESSES. EBONY WINTER GALA - THIS EVENT BRING TOGETHER PROFESSIONAL ORGANIZATIONS AND COMMUNITY VENDORS FOR AN EVENING OF NETWORKING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ikechukwu Okonkwo President | Officer | 10 | $0 |
Antoine Melay Vice President | Officer | 4 | $0 |
Lakia Rutherford Treasurer | Officer | 2 | $0 |
Marie Andre Huff Secretary | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $198,004 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $198,004 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,370 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,350 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $143,010 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,712 |
| Savings and temporary cash investments | $396,447 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,037,618 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,436,777 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Unrestricted restricted net Assets | $865,170 |
| Temporarily restricted net Assets | $571,607 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $1,436,777 |