BLACK ECONOMIC DEVELOPMENT COALITION INC

EIN: 650159176 501(c)(3) Community Improvement

MIAMI, FL

Total Revenue
$811,665
Total Expenses
$982,100
Total Assets
$6,874,179
Net Assets
$1,700,738
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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
1989
Legal Domicile
FL
Principal Officer
LEROY JONES
Phone
3052005568
Tax Period
2024-01-01 to 2024-12-31

BLACK ECONOMIC DEVELOPMENT COALITION INC, founded in 1989, is a small nonprofit in the Community Improvement sector that reported $812K in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year. Expenses of $982K exceeded revenue, resulting in a 21% operating deficit.

Mission

ADMINISTER'S LOAN PROGRAMS WHO'S PURPOSE IS TO PROVIDE SMALL BUSINESSES AND MICROENTERPRISES IN MIAMI DADE COUNTY THE FINANCING AND TECHNICAL ASSISTANCE NEEDED TO ASSIST WITH JOB CREATION, EQUIPMENT PURCHASES AND WORKING CAPITAL

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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 $799,101
Program Service Revenue $0
Investment Income $12,564
Other Revenue $0
TOTAL REVENUE $811,665

Expense Breakdown

Grants Paid $0
Salaries & Benefits $357,157
Fundraising Expenses $0
Program Expenses $936,842
Other Expenses $624,943
TOTAL EXPENSES $982,100

Year-over-Year Comparison

2024 2023 Change
Revenue $811,665 $923,114 -0.1%
Expenses $982,100 $1,062,639 -0.1%
Net Income $-170,435 $-139,525 +0.2%
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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Governance

Voting Members
3
Independent Members
3
Employees
7
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
$39,028
Total Directors
3
$0
Key Employees
3
$39,028
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LEROY JONES EXECUTIVE DIRECTORS 22
Officer Key Emp
$39,028 $0 $39,028
VERBERT C ANDERSON PRESIDENT 2
Director Key Emp
$0 $0 $0
NICK DECIUS SECRETARY 2
Director Key Emp
$0 $0 $0
BETTY GEORGE TREASURER 2
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 $811,665 $982,100 $6,874,179 $-170,435
2023 $923,114 $1,062,639 $7,323,352 $-139,525
2022 $791,216 $946,968 $7,096,450 $-155,752
2021 $1,506,749 $1,282,057 $6,988,116 $224,692
2020 $3,327,765 $3,015,650 $6,532,858 $312,115
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