VIRGINIA BLACK CHAMBER OF COMMERCE

EIN: 352816054 Community Improvement

FREDERICKSBURG, VA

Total Revenue
$191,600
Total Expenses
$263,994
Total Assets
$9,413
Net Assets
$-85,645
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2023
Legal Domicile
VA
Phone
5402160021
Tax Period
2024-01-01 to 2024-12-31

VIRGINIA BLACK CHAMBER OF COMMERCE, founded in 2023, is a small nonprofit in the Community Improvement sector that reported $192K in total revenue in fiscal year 2024. Expenses of $264K exceeded revenue, resulting in a 38% operating deficit.

Mission

INCREASE SMALL BUSINESS GROWTH WHILE FOSTERING AN INCLUSIVE ENVIRONMENT FOR ALL ENTREPRENEURS TO THRIVE.

Program Service Accomplishments

Program 1
Expenses: $102,757 Revenue: $3,145

VABBD EXPO AND CONFERENCE A LARGE-SCALE ANNUAL CONVENING THAT BRINGS TOGETHER ENTREPRENEURS, CORPORATIONS, GOVERNMENT AGENCIES, AND COMMUNITY PARTNERS. THE EVENT FEATURES EDUCATIONAL WORKSHOPS...

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VABBD EXPO AND CONFERENCE A LARGE-SCALE ANNUAL CONVENING THAT BRINGS TOGETHER ENTREPRENEURS, CORPORATIONS, GOVERNMENT AGENCIES, AND COMMUNITY PARTNERS. THE EVENT FEATURES EDUCATIONAL WORKSHOPS, KEYNOTE SPEAKERS, VENDOR EXHIBITIONS, AND NETWORKING OPPORTUNITIES DESIGNED TO INCREASE VISIBILITY FOR MINORITY-OWNED BUSINESSES, FACILITATE PROCUREMENT CONNECTIONS, AND PROVIDE ACCESS TO RESOURCES THAT SUPPORT BUSINESS GROWTH AND SUSTAINABILITY.VABBD EXPO AND CONFERENCE

Program 2
Expenses: $55,671 Revenue: $19,747

EDUCATION AND TRAINING PROVIDES WORKSHOPS, SEMINARS, WEBINARS, AND INSTRUCTIONAL RESOURCES DESIGNED TO STRENGTHEN THE BUSINESS, LEADERSHIP, AND OPERATIONAL SKILLS OF ENTREPRENEURS AND SMALL BUSINESS...

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EDUCATION AND TRAINING PROVIDES WORKSHOPS, SEMINARS, WEBINARS, AND INSTRUCTIONAL RESOURCES DESIGNED TO STRENGTHEN THE BUSINESS, LEADERSHIP, AND OPERATIONAL SKILLS OF ENTREPRENEURS AND SMALL BUSINESS OWNERS.EDUCATION AND TRAINING

Program 3
Expenses: $45,250 Revenue: $11,000

BUSINESS ACCELERATOR A COHORT-BASED, MULTI-WEEK TRAINING INITIATIVE THAT SUPPORTS ENTREPRENEURS AT VARIOUS STAGES OF BUSINESS DEVELOPMENT. PARTICIPANTS RECEIVE STRUCTURED INSTRUCTION, TECHNICAL...

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BUSINESS ACCELERATOR A COHORT-BASED, MULTI-WEEK TRAINING INITIATIVE THAT SUPPORTS ENTREPRENEURS AT VARIOUS STAGES OF BUSINESS DEVELOPMENT. PARTICIPANTS RECEIVE STRUCTURED INSTRUCTION, TECHNICAL ASSISTANCE, MENTORSHIP, AND ACCESS TO SUBJECT-MATTER EXPERTS TO HELP REFINE BUSINESS MODELS, STRENGTHEN FINANCIAL MANAGEMENT, IMPROVE OPERATIONAL CAPACITY, AND SCALE THEIR ENTERPRISES.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $146,842
Program Service Revenue $44,042
Investment Income $0
Other Revenue $716
TOTAL REVENUE $191,600

Expense Breakdown

Grants Paid $5,239
Salaries & Benefits $60,178
Fundraising Expenses $5,385
Program Expenses $240,403
Other Expenses $198,577
TOTAL EXPENSES $263,994

Year-over-Year Comparison

2024 2023 Change
Revenue $191,600 N/A N/A
Expenses $263,994 N/A N/A
Net Income $-72,394 N/A N/A
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

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Liquidity & Cash Position

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Governance

Voting Members
5
Independent Members
N/A
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
2
$60,178
Total Directors
5
$60,178
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ERNISHA HALL PRESIDENT AND TREASURER 36.00
Officer Director
$60,178 $0 $60,178
MICHELLE RIDDICK MEMBER 10.00
Director
$0 $0 $0
SHEKELA HUTCHINSON MEMBER 0.50
Director
$0 $0 $0
GAVRIERL LEGYND PHD BOARD VICE CHAIR 1.00
Director
$0 $0 $0
TRACEY HALL BOARD CHAIR AND SECRETARY 20.00
Officer 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 $191,600 $263,994 $9,413 $-72,394
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