Black Economic Council Of Massachusetts Inc

Organization Overview

Black Economic Council Of Massachusetts Inc, operating under the name Becma, is located in Boston, MA. The organization was established in 2016. According to its NTEE Classification (V31) the organization is classified as: Black Studies, under the broad grouping of Social Science and related organizations. As of 12/2021, Becma employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Becma 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 12/2021, Becma generated $1.5m in total revenue. All expenses for the organization totaled $1.6m during the year ending 12/2021.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO ADVANCE THE ECONOMIC WELL-BEING OF BLACK BUSINESSES, ORGANIZATIONS & RESIDENTS IN MA.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SMALL BUSINESS TECHNICAL ASSISTANCE: OUR BACK-OFFICE SUPPORT PROGRAM CONNECTS MICRO AND SMALL BLACK-OWNED BUSINESSES WITH RESOURCE PROVIDERS AT NO COST TO THEM. PROVIDERS INCLUDE BLACK ACCOUNTANTS, ATTORNEYS, DIGITAL MARKETERS, AND ALLY COMPANIES LIKE DRIFT FOR WEB SUPPORT.


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Board, Officers & Key Employees

Name (title)Compensation
Oluwasegun Idowu
Executive Director
$125,970
Nicole Obi
CEO
$19,993
Teri Williams
President
$0
Lamont Clemons
Treasurer
$0
Reginald Nunnally
Director
$0
Chiderah Okoye
Clerk
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$60,226
Fundraising events$275,405
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$1,460,419
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,796,050
Total Program Service Revenue$0
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 -$275,405
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,520,645

Grants Recieved

Over the last fiscal year, we have identified 13 grants that Black Economic Council Of Massachusetts Inc has recieved totaling $624,537.

Awarding OrganizationAmount
Fidelity Foundation

Boston, MA

PURPOSE: ORGANIZATIONAL DEVELOPMENT

$175,000
Barr Foundation

Boston, MA

PURPOSE: SPECIAL INITIATIVES: TO PROVIDE GENERAL OPERATING SUPPORT

$150,000
Morgan Stanley Global Impact Funding Trust Inc

Indianapolis, IN

PURPOSE: UNRESTRICTED GENERAL SUPPORT

$110,000
Altamira Foundation

Westwood, MA

PURPOSE: CHARITBALE

$75,000
Schwab Charitable Fund

San Francisco, CA

PURPOSE: PUBLIC, SOCIETAL BENEFIT

$52,500
The Hyams Foundation Inc

Boston, MA

PURPOSE: PARTICIPATION ON THE FOUNDATION'S FIELD BUILDING DESIGN TEAM

$25,000
View Grant Recipient Profile

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