Beloved Community Incubator Inc
- Assets
- $209.7k
- Revenue
- $886.3k
- Investments
- $0.0
- Employees
- 8
- Location
- Washington, DC
- Founding
- Data as of
- 12/2022
- 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 12/2022, Beloved Community Incubator Inc employed 8 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.
For the year ending 12/2022, Beloved Community Incubator Inc generated $886.3k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 50.9% each year . All expenses for the organization totaled $815.3k during the year ending 12/2022. 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
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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Francisco Benavides Treasurer/administrative Coordinator | OfficerTrustee | 24 | $28,558 |
Bianca Vazquez Co-President/program Director | OfficerTrustee | 40 | $63,306 |
Geoff Gilbert Legal And Technical Director | OfficerTrustee | 40 | $72,240 |
Megan Felix Macaraeg Co-President/organizing Director | OfficerTrustee | 40 | $72,240 |
Meghan Sobocienski Board Member | Trustee | 1 | $0 |
Celeste Smith Board Member | Trustee | 1 | $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 | $883,033 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $883,033 |
| Total Program Service Revenue | $1,600 |
| Investment income | $141 |
| 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 | $1,514 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $886,288 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,500 |
| Grants and other assistance to domestic individuals. | $22,069 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $278,965 |
| Compensation of current officers, directors, key employees. | $18,589 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $42,834 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $16,991 |
| Payroll taxes | $29,177 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,680 |
| Fees for services: Lobbying | $946 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $118,347 |
| Advertising and promotion | $104 |
| Office expenses | $45,930 |
| Information technology | $3,575 |
| Royalties | $0 |
| Occupancy | $13,334 |
| Travel | $91,243 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $91,974 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,022 |
| All other expenses | $8,341 |
| Total functional expenses | $815,261 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $209,500 |
| 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 | $209,700 |
| Accounts payable and accrued expenses | $1,412 |
| 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 | $1,412 |
| Net assets without donor restrictions | $207,763 |
| Net assets with donor restrictions | $525 |
| 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 | $209,700 |