California Black Chamber Of Commerce
- Assets
- $113.9k
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 9
- Location
- Sacramento, CA
- Founding
- 07/1995
- Data as of
- 12/2022
- EIN
- 94-3225546
Organization Overview
California Black Chamber Of Commerce is located in Sacramento, CA. The organization was established in 1995. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, California Black Chamber Of Commerce employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. California Black Chamber Of Commerce is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, California Black Chamber Of Commerce generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 11.8% each year . All expenses for the organization totaled $1.4m during the year ending 12/2022. While expenses have increased by 13.9% per year over the past 5 years. They've been increasing with an increasing level of total revenue. 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
THE CORPORATION IS ORGANIZED TO ESTABLISH A STATEWIDE NETWORK AMONG CALIFORNIA BLACK AND BROWN CHAMBERS OF COMMERCE AND BUSINESS ASSOCIATIONS TO ACTIVELY PROMOTE ECONOMIC DEVELOPMENT IN MARGINALIZED COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL ECONOMIC SUMMIT: TO BRING COMMUNITY & BUSINESS LEADERS TO A FORUM TO INFLUENCE, INSPIRE AND PROMOTE UNDERPRIVILAGED MINORITY BUSINESS AND ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jay A King III President/ceo | OfficerTrustee | 40 | $155,226 |
Delores Thompson Secretary | OfficerTrustee | 4 | $0 |
Ruth Artates-Rezaie Chief Financial Officer | OfficerTrustee | 20 | $10,820 |
Anthony Wallace Board Member | OfficerTrustee | 2 | $0 |
Mary Evans Board Chair | OfficerTrustee | 2 | $0 |
George Jones Board Member | OfficerTrustee | 2 | $3,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $74,170 |
| Fundraising events | $0 |
| Related organizations | $169,351 |
| Government grants | $616,864 |
| All other contributions, gifts, grants, and similar amounts not included above | $347,314 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,207,699 |
| Total Program Service Revenue | $145,968 |
| 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 | $1,353,667 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $396,714 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $270,570 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $236 |
| Payroll taxes | $69,829 |
| Fees for services: Management | $154,784 |
| Fees for services: Legal | $1,020 |
| Fees for services: Accounting | $5,720 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $79,764 |
| Advertising and promotion | $0 |
| Office expenses | $59,673 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $79,433 |
| Travel | $10,860 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $137,624 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $20,619 |
| All other expenses | $0 |
| Total functional expenses | $1,352,353 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $113,935 |
| 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 | $113,935 |
| 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 | $61,934 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $61,934 |
| Net assets without donor restrictions | $0 |
| 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 | $52,001 |
| Total liabilities and net assets/fund balances | $113,935 |