Expanding Black Business NFP

Analysis

Expanding Black Business NFP is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in October 2019, 7 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Expanding Black Business NFP reported income of $233k and spending of $62k, leaving 73% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income fell from $13.6m to $233k (-98%), an average of -74% a year. The sharpest change came in the year to December 2022, when income rose by 505%. Over the whole period it spent 28% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Expanding Black Business NFP sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 57th percentile within IL. Charities of a similar size with the same main cause include Sector67 Inc ($233k), Southeastern Association of Community Action Agencies Inc ($233k) and Bohemia Food Hub ($233k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 26% of the total. At year end it held assets of $10.2m against liabilities of $25k, net assets of $10.1m.