Black Business Enterprises Fund

Analysis

Black Business Enterprises Fund is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in February 2022, 4 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Black Business Enterprises Fund reported income of $175k and spending of $125k, leaving 29% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $350k to $175k (-50%), an average of -50% a year. The sharpest change came in the year to December 2023, when income dropped by 50%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Black Business Enterprises Fund sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 49th percentile within MN. Charities of a similar size with the same main cause include Hartsville Interfaith Ministries ($175k), Cross Cultural Care ($175k) and Florida Winefest and Auction Inc ($175k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 7.0% and program service revenue 93% of the total. At year end it held assets of $76k against liabilities of $0, net assets of $76k.