Indy Black Chamber Of Commerce Inc is located in Indianapolis, IN. The organization was established in 2015. 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. As of 12/2023, Indy Black Chamber Of Commerce Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indy Black Chamber Of Commerce Inc 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 12/2023, Indy Black Chamber Of Commerce Inc generated $673.8k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 48.9% each year . All expenses for the organization totaled $615.1k during the year ending 12/2023. While expenses have increased by 46.6% per year over the past 5 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO SERVE AS A COMPREHENSIVE RESOURCE FOR DEVELOPING BLACK AND MINORITYOWNED BUSINESSES
Describe the Organization's Program Activity:
Part 3 - Line 4a
WEALTH BUILDING THROUGH BUSINESS LEADERSHIP:10 WEEK BUSINESS DEVELOPEMENT CLASS GRADUATED THREE COHORTS. THROUGH THE OFFERING OF THIS WELL-VERSED CURRICULUM IMPACTED 36 ENTREPRENEURS IN THEIR KNOWLEDGE OF BUSINESS ACUMEN.
MICRO ENTERPRISE NAVIGATOR PROGRAM: PROVIDED ASSISTANCE TO 70 MICRO BUSINESS OWNERS WHO WERE CLASSIFIED AS LMI WITH BUSINESS COACHING AND RESOURCE NAVIGATION SERVICES TO HELP THEM SCALE AND DEVELOP WITHIN THEIR BUSINESS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Anita Williams Chairman Of The Board | OfficerTrustee | 8 | $0 |
Katrina Stoval Board Secretary | Trustee | 3 | $0 |
Dyann Williams Board Member | Trustee | 3 | $0 |
George Middleton Board Member | Trustee | 1 | $0 |
Jamie Walton Board Member | Trustee | 1 | $0 |
Regina Warren Board Member | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $46,554 |
Fundraising events | $49,755 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $566,924 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $663,233 |
Total Program Service Revenue | $0 |
Investment income | $10,519 |
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 | $673,752 |
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 | $230,006 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $19,252 |
Fees for services: Management | $27,925 |
Fees for services: Legal | $10,900 |
Fees for services: Accounting | $9,890 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $18,558 |
Office expenses | $6,971 |
Information technology | $22,678 |
Royalties | $0 |
Occupancy | $63,954 |
Travel | $3,030 |
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 | $3,901 |
All other expenses | $0 |
Total functional expenses | $615,116 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $717,790 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $4,000 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $118,025 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $22,555 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $862,370 |
Accounts payable and accrued expenses | $50 |
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 | $36,529 |
Total liabilities | $36,579 |
Net assets without donor restrictions | $825,791 |
Net assets with donor restrictions | $0 |
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 | $862,370 |