Center for Black Innovation Inc

EIN: 472134965 501(c)(3) Youth Development

Miami, FL

Total Revenue
$564,788
Total Expenses
$880,333
Total Assets
$887,728
Net Assets
$712,311
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2014
Legal Domicile
FL
Principal Officer
Derick Pearson
Phone
3054821832
Tax Period
2024-01-01 to 2024-12-31

Center for Black Innovation Inc, founded in 2014, is a small nonprofit in the Youth Development sector that reported $565K in total revenue in fiscal year 2024. Revenue fell 45% from the prior year — a significant decline worth monitoring. Expenses of $880K exceeded revenue, resulting in a 56% operating deficit.

Mission

Our mission is to eliminate the racial wealth gap by increasing the bottom line for Black business owners and expanding hiring opportunities for. Black job seekers. We achieve this through exposure to innovation pathways, scaling Black innovation ecosystems, and implementing data-driven policies to diversify existing ecosystems.

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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 $485,092
Program Service Revenue $65,921
Investment Income $13,775
Other Revenue $0
TOTAL REVENUE $564,788

Expense Breakdown

Grants Paid $27,500
Salaries & Benefits $341,112
Fundraising Expenses $0
Program Expenses $624,610
Other Expenses $511,721
TOTAL EXPENSES $880,333

Year-over-Year Comparison

2024 2023 Change
Revenue $564,788 $1,023,733 -0.4%
Expenses $880,333 $1,089,993 -0.2%
Net Income $-315,545 $-66,260 +3.8%
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

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Governance

Voting Members
6
Independent Members
6
Employees
5
Volunteers
10

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
$280,000
Total Directors
5
$155,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Derick Pearson Executive Dir. 40.00
Officer Director
$155,000 $0 $155,000
Starex Smith Vice President 40.00
Officer
$125,000 $0 $125,000
Felecia Hatcher Chairman 2.00
Director
$0 $0 $0
Gerald Nieves Cairo President 2.00
Director
$0 $0 $0
JacaylaToson Secretary 2.00
Director
$0 $0 $0
William Hatcher Director 2.00
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 $564,788 $880,333 $887,728 $-315,545
2023 $1,023,733 $1,089,993 $1,212,676 $-66,260
2022 $1,384,302 $1,174,456 $1,357,596 $209,846
2021 $1,276,197 $867,197 $1,132,158 $409,000
2020 $860,070 $879,856 $774,715 $-19,786
2019 $963,228 $1,019,081 $377,183 $-55,853
2018 $863,859 $904,999 $381,719 $-41,140
2017 $1,112,850 $736,782 $446,808 $376,068
2016 $416,978 $431,268 $4,861 $-14,290
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