Black Economic Alliance Foundation
- Assets
- $2.9m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 1
- Location
- Washington, DC
- Founding
- 07/2019
- Data as of
- 12/2020
- EIN
- 83-3790370
Organization Overview
Black Economic Alliance Foundation is located in Washington, DC. The organization was established in 2019. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Black Economic Alliance Foundation 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 12/2020, Black Economic Alliance Foundation generated $3.1m in total revenue. All expenses for the organization totaled $177.1k during the year ending 12/2020.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION FOCUSES ON ADVANCING ECONOMIC PROGRESS IN BLACK COMMUNITIES BY SUPPORTING RESEARCH, EDUCATION, AND PUBLIC POLICY DEVELOPMENT AROUND WORK, WAGES, AND WEALTH IN THE BLACK COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BEA FOUNDATION WORKED TO SUPPORT RESEARCH, EDUCATION, AND PUBLIC POLICY DEVELOPMENT AROUND WORK, WAGES, AND WEALTH IN THE BLACK COMMUNITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Clunie Executive Director | Officer | 7.4 | $45,988 |
N Anthony Coles Jr Director, President | OfficerTrustee | 6 | $0 |
Vicki Palmer Director, Treasurer | OfficerTrustee | 4.9 | $0 |
Tia Breakley Director, Asst Treasurer | OfficerTrustee | 2.4 | $0 |
Charles Phillips Director, Secretary | OfficerTrustee | 6 | $0 |
Gerald Adolph Former Treasurer | OfficerTrustee | 4.9 | $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 | $3,096,213 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,096,213 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,096,213 |
| 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. | $47,295 |
| Compensation of current officers, directors, key employees. | $5,142 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,098 |
| Payroll taxes | $2,272 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $44,233 |
| Fees for services: Accounting | $520 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $6,375 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $52,655 |
| Advertising and promotion | $0 |
| Office expenses | $3,925 |
| Information technology | $1,864 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,288 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $14,936 |
| All other expenses | $0 |
| Total functional expenses | $177,069 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,904,227 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $2,904,227 |
| Accounts payable and accrued expenses | $0 |
| 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 | $130,198 |
| Total liabilities | $130,198 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $2,774,029 |
| 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 | $2,904,227 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Black Economic Alliance Foundation has recieved totaling $2,612,142.
| Awarding Organization | Amount |
|---|---|
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: COMMUNITY OUTREACH & ENRICHMENT PROGRAMS | $775,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $500,000 |
Ford Foundation New York, NY PURPOSE: GENERAL SUPPORT | $500,000 |
Ford Foundation New York, NY PURPOSE: ONE-TIME CORE SUPPORT TO ENGAGE CORPORATIONS AND CEOS TO DEFEND VOTING RIGHTS AND SUPPORT DEMOCRACY REFORM | $400,000 |
Silicon Valley Community Foundation Mountain View, CA PURPOSE: General Nonprofit Support | $100,000 |
Anne Wojcicki Foundation Los Altos, CA PURPOSE: GENERAL SUPPORT | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Naval Institute Foundation Incorporated Annapolis, MD | $16,478,320 | $8,459,950 |
Baltimore City Foundation Inc Baltimore, MD | $20,625,141 | $25,532,138 |
The Richman Family Foundation Inc Baltimore, MD | $21,774,672 | $824,650 |
Venture Philanthropy Partners Inc Washington, DC | $4,166,381 | $6,325,429 |
Commonwealth Foundation V Richmond, VA | $38,532,929 | $6,620,642 |
Commonwealth Foundation Iv Richmond, VA | $38,533,029 | $6,621,693 |
R E B Foundation Richmond, VA | $74,287,615 | $7,129,947 |
Wythe-Bland Foundation Wytheville, VA | $49,336,372 | $2,855,357 |
National Heritage Foundation Inc Ashburn, VA | $4,189,529 | $1,236,211 |
Community First-Americas Charities Chantilly, VA | $570,100 | $1,672,923 |
Goodwill Works Of The Chesapeake Inc Baltimore, MD | $1,182,746 | $1,594,900 |
Pearlstone Family Fund Inc Baltimore, MD | $27,474,431 | $1,852,005 |