Beaufort County Black Chamber Of
- Assets
- $4.4m
- Revenue
- $557.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Beaufort, SC
- Founding
- 08/2002
- Data as of
- 12/2022
- EIN
- 04-3627371
Organization Overview
Beaufort County Black Chamber Of is located in Beaufort, SC. The organization was established in 2002. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beaufort County Black Chamber Of 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 12/2022, Beaufort County Black Chamber Of generated $557.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $602.3k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.0%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
BCBCC IS DEDICATED TO FOSTERING ECONOMIC EMPOWERMENT & COMMUNITY REVITALIZATION IN BEAUFORT COUNTY AND ITS SURROUNDING AREAS. OUR MISSION IS TO PROMOTE & EXPAND BUSINESS AND EMPLOYMENT OPPORTUNITIES FOR MINORITY COMMUNITIES INCREASE EDUCATION PROVIDE TRAINING & ENCOURAGE ADVANCEMENT THROUGH ENTREPRENEURSHIP. THROUGH ENTREPRENEURIAL DEVELOPMENT EDUCATIONAL PROGRAMS & NEIGHBORHOOD GRANT INITIATIVES WE AIM TO ADDRESS AFFORDABLE HOUSING NEEDS AND DRIVE COMMUNITY DEVELOPMENT AND REVITALIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS SUPPORT SERVICES - LOANS BUSINESS PLANNING BUDGETING STARTUP SUPPORT
HOUSING SERVICES SUPPORT - WORKING WITH SOUTH CAROLINA HOUSING TRUST FUND BCBCC PROVIDES GRANTS FOR HOMEOWNERS NEEDING HOME AND CRITICAL HOME REPAIRS.
COMMUNITY SUPPORT SERVICES - WORKSHOPS COMMUNITY GATHERINGS AND EVENTS THAT SUPPORT ECONOMIC GROWTH AND VITALITY FOR OUR COMMUNITY INCLUDING PROVIDING FINANCIAL LITERACY PROGRAMS AND SMALL DOLLAR LOANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bernard Mcintryre Chair | OfficerTrustee | 4 | $0 |
Larry Holman President CEO | Officer | 40 | $126,000 |
Wilma Holman Secretary | OfficerTrustee | 4 | $0 |
Leroy Gillard Board Member | Trustee | 4 | $0 |
Sheila Jenkins Ward Board Member | Trustee | 4 | $0 |
Gary Littlejohn Board Member | Trustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Larry Holman Management Services | 12/30/19 | $128,670 |
Neal Construction Llc Construction Services | 12/30/19 | $144,672 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $10,460 |
| Fundraising events | $13,258 |
| Related organizations | $0 |
| Government grants | $460,921 |
| All other contributions, gifts, grants, and similar amounts not included above | $63,213 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $547,852 |
| Total Program Service Revenue | $30,027 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $24,027 |
| Royalties | $0 |
| Net Rental Income | -$41,361 |
| Net Gain/Loss on Asset Sales | -$3,042 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $557,503 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $95,113 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $107,100 |
| Compensation of current officers, directors, key employees. | $69,300 |
| Compensation to disqualified persons | $246,919 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $6,858 |
| Fees for services: Legal | $16,355 |
| Fees for services: Accounting | $20,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $55,487 |
| Office expenses | $15,584 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,952 |
| Travel | $3,881 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,642 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,578 |
| Insurance | $4,016 |
| All other expenses | $0 |
| Total functional expenses | $602,255 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,150,395 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $155,999 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $650,165 |
| Inventories for sale or use | $58,187 |
| Prepaid expenses and deferred charges | $26,269 |
| Net Land, buildings, and equipment | $2,334,259 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,375,274 |
| Accounts payable and accrued expenses | $58,636 |
| Grants payable | $0 |
| Deferred revenue | $75,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $73,814 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,270,042 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,477,492 |
| Net assets without donor restrictions | $308,872 |
| Net assets with donor restrictions | $588,910 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,375,274 |
Grants Awarded
Over the last fiscal year, Beaufort County Black Chamber Of has awarded $52,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
WHY NOT YOUNG LIVES PURPOSE: PROGRAM SERVICES | $5,000 |
GULLAH GEECHEE INITIATIVE FDN PURPOSE: PROGRAM SERVICES | $9,500 |
CARAE'S BEAUFORT CNTY YOUTH CONF PURPOSE: PROGRAM SERVICES | $7,500 |
AXIS 1 CENTER OF BARNWELL PURPOSE: PROGRAM SERVICES | $5,000 |
GULLAH TRAVELING THEATER INC PURPOSE: PROGRAM SERVICES | $5,000 |
ALLENDALE COUNTY ALIVE INC PURPOSE: PROGRAM SERVICES | $7,500 |