MINNESOTA BLACK CHAMBER OF COMMERCE

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2004

Legal Domicile

Principal Officer

SAMUEL N NDELY II

Phone

6512444320

Tax Period

2024-01-01 to 2024-12-31

MINNESOTA BLACK CHAMBER OF COMMERCE, founded in 2004, is a community nonprofit in the Community Improvement sector that reported $1.4M in total revenue in fiscal year 2024. Revenue surged 176% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.2M, a strong 80% operating margin.

Mission

THE MINNESOTA BLACK CHAMBER OF COMMERCE IS COMMITTED TO SERVING THE BLACK- OWNED BUSINESSES AND THEIR COMMUNITIES THROUGH ACCESS TO EDUCATION, ADVOCACY AND ECONOMIC DEVELOPMENT. OUR GOAL IS TO MAXIMIZE THE POTENTIAL OF EVERY BLACK-OWNED BUSINESS, LARGE OR SMALL, BY PROVIDING EQUITABLE OPPORTUNITIES FOR GROWTH AT EVERY STAGE.

Program Service Accomplishments

Program 1

Expenses: $41,565 Revenue: $34,717

PROVIDE BUSINESS SUPPORT NETWORK FOR BLACK BUSINESS OWNERS. PROMOTE STRATEGIES THAT CAPTURE REVENUES TO SECURE ECONOMIC BENEFITS FOR MEMBERS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,470,805

Program Service Revenue $34,717

Investment Income $25,467

Other Revenue $-80,998

TOTAL REVENUE $1,449,991

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $41,565

Other Expenses $285,013

TOTAL EXPENSES $285,013

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,449,991	$526,065	+1.8%
Expenses	$285,013	$168,918	+0.7%
Net Income	$1,164,978	$357,147	+2.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SAMUEL N NDELY II	CHAIR	8.00	Officer Director	$0	$0	$0
CHANTI MILLER	VICE CHAIR	5.00	Officer Director	$0	$0	$0
LATAYA ALLSEITS	SPONSORSHIP	3.00	Officer Director	$0	$0	$0
SHEVVI CROWLEY	MEMBERSHIP C	3.00	Officer Director	$0	$0	$0
DRINAL FOSTER	TREASURER	3.00	Officer Director	$0	$0	$0
ABEL EBANE	IMMEDIATE PA	3.00	Director	$0	$0	$0
BRETTINA DAVIS	BOARD MEMBER	3.00	Director	$0	$0	$0
ELIZER DARRIS	BOARD MEMBER	3.00	Director	$0	$0	$0
BIANCA V DUBOSE	BOARD MEMBER	3.00	Director	$0	$0	$0
CANDICE ELLIS	BOARD MEMBER	3.00	Director	$0	$0	$0
TIM FARROW	BOARD MEMBER	3.00	Director	$0	$0	$0
DAMON JENKINS	BOARD MEMBER	3.00	Director	$0	$0	$0
DOMONIQUE JONES	BOARD MEMBER	3.00	Director	$0	$0	$0
B KYLE	BOARD MEMBER	3.00	Director	$0	$0	$0
GREGG KLOHN	BOARD MEMBER	3.00	Director	$0	$0	$0
JONATHAN WEINHAGEN	BOARD MEMBER	3.00	Director	$0	$0	$0
KHADIJA ZEIG	BOARD MEMBER	3.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$1,449,991	$285,013	$1,888,134	$1,164,978
2023	$526,065	$168,918	$716,726	$357,147
2022	$302,654	$152,285	$347,295	$150,369