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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Tuckman-Chang Vulnerability Assessment

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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.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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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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Financial Distress Indicator

Liquidity & Cash Position

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

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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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