Beloved Community Incubator Inc
- Assets
- $143.6k
- Revenue
- $389.1k
- Investments
- $0.0
- Employees
- 4
- Location
- Washington, DC
- Founding
- Data as of
- 12/2021
- EIN
- 83-3133482
Organization Overview
Beloved Community Incubator Inc is located in Washington, DC. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. As of 12/2021, Beloved Community Incubator Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beloved Community Incubator Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT AND ORGANIZE RESOURCES FOR COMMUNITY-BASED COOPERATIVES AND COLLECTIVES IN DC METRO AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE SUPPORT WORKERS TO CREATE AND MAINTAIN COLLECTIVELY OWNED BUSINESSES SO THAT WORKERS CAN CONTROL THEIR WORK, PAY THEMSELVES LIVING WAGES, BUILD A DEMOCRATIC PRACTICE OF STEWARDING RESOURCES TOGETHER AND ENGAGE IN THE WIDER DMV AREA MOVEMENT ECOSYSTEM THAT IS BUILDING ABOLITION AND DECOLONIZATION. WE PROVIDE HIGH-TOUCH INCUBATION SUPPORT - INCLUDING LEADERSHIP DEVELOPMENT, ECOSYSTEM AND RESOURCE ORGANIZING AND LEGAL, BOOKKEEPING AND ADMINISTRATIVE SUPPORT - FOR NEW COOPERATIVES THAT CREATE LIVING WAGE WORK AND THAT ARE LED BY POOR AND WORKING CLASS BLACK, BROWN, INDIGENOUS AND PEOPLE OF COLOR.BCI INCUBATES NEW COOPERATIVES AND COLLECTIVES, PROVIDING SUPPORT FOR WORKERS THROUGH THE ENTIRE PROCESS OF CREATING AND LAUNCHING THEIR BUSINESS OPERATIONS. AS AN INCUBATOR, WE PROVIDE PRE-LAUNCH SUPPORT, BUSINESS & LEADERSHIP DEVELOPMENT, GOVERNANCE AND CONFLICT RESOLUTION TRAININGS, AND LEGAL, BOOKKEEPING, AND ADMINISTRATIVE SUPPORT. OUR PRE-LAUNCH SUPPORT INCLUDES A MONTHLY STIPEND TO OFFSET THE COST OF PARTICIPATING IN TRAINING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Megan Macaraeg Co-President/organizing Director | OfficerTrustee | 40 | $56,177 |
Bianca Vazquez Co-President/program Director | OfficerTrustee | 40 | $39,688 |
Francisco Benavides Treasurer/administrative Coordinator | OfficerTrustee | 40 | $30,564 |
Geoff Gilbert Legal And Technical Director | OfficerTrustee | 40 | $20,000 |
Alana Eichner Board Member | Trustee | 1 | $0 |
Meghan Sobocienski Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $30,750 |
| All other contributions, gifts, grants, and similar amounts not included above | $356,642 |
| Noncash contributions included in lines 1a–1f | $1,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $387,392 |
| Total Program Service Revenue | $1,600 |
| Investment income | $107 |
| 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 | $389,099 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $700 |
| Grants and other assistance to domestic individuals. | $21,650 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $170,028 |
| Compensation of current officers, directors, key employees. | $23,002 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $19,524 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $780 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,209 |
| Advertising and promotion | $2,092 |
| Office expenses | $2,596 |
| Information technology | $2,746 |
| Royalties | $0 |
| Occupancy | $3,749 |
| Travel | $1,312 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,233 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,786 |
| All other expenses | $1,151 |
| Total functional expenses | $252,556 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,020 |
| Savings and temporary cash investments | $142,389 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $200 |
| 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 | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $143,609 |
| Accounts payable and accrued expenses | $7,066 |
| 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 | $7,066 |
| Net assets without donor restrictions | $136,543 |
| 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 | $143,609 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Beloved Community Incubator Inc has recieved totaling $167,000.
| Awarding Organization | Amount |
|---|---|
Greater Washington Community Foundation Washington, DC PURPOSE: GENERAL SUPPORT | $97,000 |
National Association For Latino Community Asset Builders San Antonio, TX PURPOSE: Small Business | $50,000 |
Washington Area Community Investment Fund Inc Washington, DC PURPOSE: OPERATING SUPPORT | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Generation Usa Washington, DC | $17,938,466 | $7,677,123 |
Skills Usa Inc Leesburg, VA | $8,575,895 | $14,271,991 |
Opportunity At Work Inc Washington, DC | $8,759,075 | $9,572,974 |
Second Chance Inc Baltimore, MD | $22,971,247 | $13,264,528 |
Anne Arundel Workforce Development Corporation Inc Millersville, MD | $2,854,225 | $10,470,291 |
Experience Works Inc Severna Park, MD | $76,388 | $8,997,468 |
Urban Alliance Foundation Inc Washington, DC | $17,000,062 | $13,601,733 |
Employ Prince Georges Largo, MD | $4,258,774 | $8,835,926 |
Lift Inc Washington, DC | $11,053,254 | $10,488,956 |
National Fund For Workforce Solutions Washington, DC | $8,495,293 | $1,868,629 |
Jobs For Americas Graduates Inc Alexandria, VA | $6,705,273 | $5,268,108 |
National Assoc For Law Placement Washington, DC | $6,222,827 | $4,649,351 |