GREATER DURHAM BLACK CHAMBER OF COMMERCE

EIN: 800317274 Recreation & Sports

DURHAM, NC

Total Revenue
$167,896
Total Expenses
$166,936
Total Assets
$373,759
Net Assets
$373,759
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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
2009
Legal Domicile
NC
Principal Officer
CYRIL BRODERICK JR
Tax Period
2024-01-01 to 2024-12-31

GREATER DURHAM BLACK CHAMBER OF COMMERCE, founded in 2009, is a small nonprofit in the Recreation & Sports sector that reported $168K in total revenue in fiscal year 2024. Revenue decreased 20% compared to the prior year. Net assets of $374K represent 27 months of operating reserves.

Mission

Primary goal is to invest in the growth and development of the black entrepreneur, the black business, and the black business ecosystem.

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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 $12,710
Program Service Revenue $153,645
Investment Income $1,341
Other Revenue $200
TOTAL REVENUE $167,896

Expense Breakdown

Grants Paid $2,000
Salaries & Benefits $88,289
Fundraising Expenses $0
Other Expenses $76,647
TOTAL EXPENSES $166,936

Year-over-Year Comparison

2024 2023 Change
Revenue $167,896 $209,591 -0.2%
Expenses $166,936 $60,852 +1.7%
Net Income $960 $148,739 -1.0%
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
17
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
0
$0
Total Directors
0
$0
Key Employees
2
$71,385
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CYRIL BRODERICK CEO 40
Key Emp Highest
$40,000 $0 $40,000
KIMBERLY ASKEW COO 40
Key Emp
$31,385 $0 $31,385
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 $167,896 $166,936 $373,759 $960
2023 $209,591 $60,852 $372,799 $148,739
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