Black Business Investments Fund Inc

Organization Overview

Black Business Investments Fund Inc is located in Orlando, FL. The organization was established in 1994. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2021, Black Business Investments Fund Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Black Business Investments Fund Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.

For the year ending 09/2021, Black Business Investments Fund Inc generated $11.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 32.9% each year . All expenses for the organization totaled $4.4m during the year ending 09/2021. While expenses have increased by 18.5% per year over the past 6 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.

Since 2021, Black Business Investments Fund Inc has awarded 25 individual grants totaling $950,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE MISSION IS TO DEVELOP AND PROMOTE BLACK BUSINESS ENTERPRISES THROUGH EDUCATION, TRAINING, LOANS, INVESTMENTS, AND OTHER ACTIVITIES AND AGGRESSIVELY PROMOTE AN ATMOSPHERE CONDUCIVE TO THEIR DEVELOPMENT.

Describe the Organization's Program Activity:

Part 3 - Line 4a

DURING FY 2021-2022 BBIF PROVIDED LOANS AND FINANCIAL ASSISTANCE TO BLACK, MINORITY AND UNDERSERVED SMALL BUSINESSES THROUGHOUT FLORIDA. ONE CRITICAL NOTE, BBIF SERVED AS ONE OF THE ONLY NON-TRADITIONAL, NON-BANK FINANCIAL INSTITUTIONS OFFERING THE US SMAL BUSINESS ADMINISTRATION PAYCHECK PROTECTION PROGRAM (PPP) LOANS THROUGHTOUT FLORIDA. THE DEMAND FOR CAPITAL CREATED A RECORD BREAKING YEAR FOR LOAN PRODUTION/CLOSINGS, CREATING A DIRECT PIPELINE OF POTENTIAL CLIENTS FOR OTHER BBIF LOAN PRODUCTS. THE LOANS AND FIANCIAL TECHNICAL ASSISTANCE PROVIDED IN FY 2021-22 HAS UNDOUBTEDLY HELPED (1) SMALL BUSINESSES STILL REELING FROM THE ECONOMIC AND OPERATIONAL DECLINE PROMPTED BY THE COVID-19 PANDEMIC AND (2) TO DEVELOP AND SCALE BLACK, ETHNIC MINORITY AND OTHER UNDERSERVED SMALL BUSINESSES FOR LONG TERM SUCCESS. BBIF CLOSED OVER $11MM IN NEW SMALL BUSINESS LOANS, ASSISTED OVER 220 BUSINESSES THROUGH ITS SPECIALIZED FINANCIAL TECHNICAL ASSISTANCE PROGRAM AND REACHED OVER 4030 BUSINESS OWNERS THROUGH THEIR OUTREACH AND EVENTS. BBIF PROVIDED $33.485 MILLION IN NEW MARKETS TAX CREDIT (NMTC) COMMUNITY INVESTMENTS AND $17.4 MILLION IN PPP LOANS. IN TOTAL, BBIF PROVIDED OVER $60MM IN LOANS THROUGHOUT THE STATE OF FLORIDA IN FY 2021-22.


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Board, Officers & Key Employees

Name (title)Compensation
Inez Long
Chief Executive Officer
$274,526
Duane Lewis
Chief Operating Officer
$107,729
Oraine S Reid
VP Finance
$106,178
Jasmine Gebon
VP Strategic Initiatives
$102,604
Jacqueline Barr
Chairperson
$0
Marilyn Drayton
Vice Chair
$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$7,920,042
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$7,920,042
Total Program Service Revenue$3,684,561
Investment income $689
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 $11,605,292

Grants Awarded

Over the last fiscal year, Black Business Investments Fund Inc has awarded $950,000 in support to 25 organizations.

Grant RecipientAmount

KALE CAFE

PURPOSE: Provide capital to business affected by the pandemic.

$40,000

PRIME ELECTRICAL SERVICES

PURPOSE: Provide capital to business affected by the pandemic.

$40,000

KINGDOM COMMUNICATION

PURPOSE: Provide capital to business affected by the pandemic.

$40,000

B M BENNETT LAW CENTER LLC

PURPOSE: Provide capital to business affected by the pandemic.

$40,000

ANDERSON AND ASSOCIATES

PURPOSE: Provide capital to business affected by the pandemic.

$40,000

GREEN CHILDREN'S HUSE FOUNDATION INC

Org PageRecipient Profile

Pompano Beach, FL

PURPOSE: Provide capital to business affected by the pandemic.

$40,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 5 grants that Black Business Investments Fund Inc has recieved totaling $438,500.

Awarding OrganizationAmount
Peoplefund

Austin, TX

PURPOSE: SUPPORT LENDING AND EDUCATION SERVICES TO UNDERSERVED SMALL BSUINESSES

$160,000
Rockefeller Foundation

New York, NY

PURPOSE: TOWARD THE COSTS OF ITS CONTRACTOR ASSISTANCE PROGRAM TO PROVIDE CAPITAL COMBINED WITH BUSINESS DEVELOPMENT TRAINING TO STRENGTHEN THE BUSINESS CAPACITY OF BLACK-OWNED CONTRACTING COMPANIES IN MIAMI-DADE COUNTY

$150,000
The Community Foundation For Northeast Florida Inc

Jacksonville, FL

PURPOSE: A MEDIA CAMPAIGN FOR THE PEDS CARE PROGRAM

$120,000
Local Initiatives Support Corporation

New York, NY

PURPOSE: SEE PART IV

$6,000
Comerica Charitable Foundation

Detroit, MI

PURPOSE: COVID-19 RESPONSE

$2,500
View Grant Recipient Profile

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