Center For Community Wealth Building
- Assets
- $2.1m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 10
- Location
- Denver, CO
- Founding
- Data as of
- 06/2023
- EIN
- 85-2257483
Organization Overview
Center For Community Wealth Building is located in Denver, CO. As of 06/2023, Center For Community Wealth Building employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center For Community Wealth Building 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 06/2023, Center For Community Wealth Building generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 34.4% each year . All expenses for the organization totaled $1.1m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD AN INCLUSIVE ECONOMY THAT WORKS FOR ALL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEMOCRATIZING OWNERSHIP: TO BUILD A ROBUST COMMUNITY-OWNERSHIP MOVEMENT ALONGSIDE COMMUNITIES OF COLOR THAT INCREASES LEADERSHIP SKILLS, BUSINESS ACUMEN, AND ECONOMIC MOBILITY, CCWB: - CONDUCTED ITS THIRD COOPERATIVE DEVELOPER TRAIN THE TRAINER PROGRAM, WHICH EQUIPPED 16 COMMUNITY MEMBERS WITH THE SKILLS TO EDUCATE THEIR COMMUNITIES ON HOW WORKER OWNERSHIP BUILDS COMMUNITY WEALTH;- GUIDED AND INCUBATED TWO NEW WORKER-OWNED BUSINESSES THROUGH THEIR FORMAL BUSINESS LAUNCH; - HOSTED 19 CO-OP 101, 201, AND 301 SESSIONS ATTENDED BY 294 COMMUNITY MEMBERS, WHO GAINED THE KNOWLEDGE TO BEGIN OR ADVANCE THEIR WORKER OWNERSHIP JOURNEY.
EDFSI AND OTHER PROGRAMS
STRENGTHENING LOCAL ENTREPRENEURSHIP: TO BUILD LOCAL ECONOMIC RESILIENCE AND COMMUNITY COHESION BY STRENGTHENING NEIGHBORHOOD MICROBUSINESSES THROUGH CULTURALLY RESPONSIVE BUSINESS SUPPORT, CCWB: - RECRUITED OVER 150 BUSINESS OWNERS TO JOIN SHOPBIPOC.COM, THE ONLINE PLATFORM CONNECTING CONSUMERS INTERESTED IN PURCHASING FROM BIPOC-OWNED BUSINESSES DIRECTLY WITH THOSE BUSINESS OWNERS; - CREATED A TRAINING AND NETWORKING COHORT OF 27 BIPOC BUSINESS OWNERS IN THE SKILLED TRADES TO HELP THEM SECURE JOBS AND CONTRACTS AT ANCHOR INSTITUTIONS; - GRADUATED 25 BIPOC BUSINESS OWNERS FROM OUR FAMILY BUSINESS PRESERVATION PROGRAM, WHERE THEY STRENGTHENED THEIR BUSINESS FUNDAMENTALS AND DEVELOPED SUCCESSION PLANS; - PREPARED 10 NEW CATERERS TO DO BUSINESS WITH ANCHORS THROUGH OUR FEEDING ANCHORS PROGRAM, CULMINATING IN OUR THIRD EAT.LOCAL.FOOD EVENT ATTENDED BY HUNDREDS OF ANCHOR EVENT PLANNERS.
ENGAGING ANCHOR INSTITUTIONS: TO ADVANCE ECONOMIC OPPORTUNITY FOR COMMUNITIES BY LEVERAGING PLACE-BASED INSTITUTIONS' PROCUREMENT, HIRING, AND INVESTING PRACTICES, CCWB: - CONVENED 16 LOCAL ANCHOR INSTITUTIONS THROUGHOUT THE YEAR IN THE DENVER ANCHOR NETWORK FOR PEER LEARNING ABOUT HOW THEY CAN BEST LEVERAGE THEIR EVERYDAY BUSINESS PRACTICES TO CLOSE THE RACIAL WEALTH GAP;-COORDINATED THE ANCHOR PROCUREMENT GROUP, THROUGH WHICH PROCUREMENT LEADERS AT SIX ANCHORS WORKED TOGETHER TO ESTABLISH A PROCESS FOR GATHERING DATA ON DIVERSE SPENDING, AND AGREED TO BUILD PROCUREMENT PRACTICES THAT RECOGNIZE VENDOR DIVERSITY AT THE BIDDING STAGE;- WORKED WITH SMALLER ANCHORS TO SHIFT ALMOST $80,000 IN SPENDING TO LOCAL BIPOC VENDORS IN THE COURSE OF THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yessica Holguin Executive Director | Officer | 50 | $96,054 |
Jeff Shanahan Board Member | Trustee | 1 | $0 |
Kayvan Khalatbari President | OfficerTrustee | 2 | $0 |
Asia Dorsey Treasurer | OfficerTrustee | 1 | $0 |
Michael Miera Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $338,897 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,435,938 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,774,835 |
| Total Program Service Revenue | $133,290 |
| Investment income | $19,830 |
| 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 | $1,927,955 |
| 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. | $96,431 |
| Compensation of current officers, directors, key employees. | $8,554 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $479,179 |
| Pension plan accruals and contributions | $12,820 |
| Other employee benefits | $41,776 |
| Payroll taxes | $52,661 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,500 |
| Fees for services: Accounting | $28,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $247,028 |
| Advertising and promotion | $1,787 |
| Office expenses | $17,803 |
| Information technology | $5,138 |
| Royalties | $0 |
| Occupancy | $40,298 |
| Travel | $22,807 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,792 |
| Interest | $637 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,477 |
| All other expenses | $0 |
| Total functional expenses | $1,097,412 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $387,004 |
| Savings and temporary cash investments | $1,216,715 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $189,806 |
| 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 | $12,589 |
| Net Land, buildings, and equipment | $7,137 |
| Investments—publicly traded securities | $254,414 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,067,665 |
| Accounts payable and accrued expenses | $96,695 |
| Grants payable | $0 |
| Deferred revenue | $390,000 |
| 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 | $6,477 |
| Other liabilities | $0 |
| Total liabilities | $493,172 |
| Net assets without donor restrictions | $1,204,341 |
| Net assets with donor restrictions | $370,152 |
| 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 | $2,067,665 |