BLACK ECONOMIC COUNCIL OF MASSACHUSETTS INC

EIN: 810687250 501(c)(3) Social Science

ROXBURY CROSSING, MA

Total Revenue
$3,951,279
Total Expenses
$3,535,173
Total Assets
$4,014,086
Net Assets
$2,863,230
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2015
Legal Domicile
MA
Principal Officer
NICOLE OBI
Phone
8573084623
Tax Period
2025-01-01 to 2025-12-31

BLACK ECONOMIC COUNCIL OF MASSACHUSETTS INC, founded in 2015, is a community nonprofit in the Social Science sector that reported $4.0M in total revenue in fiscal year 2025. Revenue fell 32% from the prior year — a significant decline worth monitoring. Expenses of $3.5M left a modest 11% surplus.

Mission

BECMA'S MISSION IS TO ADVANCE THE ECONOMIC WELL-BEING OF BLACK BUSINESSES, ORGANIZATIONS, AND RESIDENTS IN MASSACHUSETTS THROUGH ADVOCACY, BUSINESS AND LEADERSHIP DEVELOPMENT, AND STRATEGIC PARTNERSHIPS.

Program Service Accomplishments

Program 1
Expenses: $2,432,771 Revenue: $1,008,010

SUPPORTS MASS BASED BLACK LED FIRMS VIA GRANTS, BACK-OFFICE SUPPORT, AND DIGITAL SOLUTIONS. ADVOCATES FOR ACCESS TO ADEQUATE & AFFORDABLE CAPITAL, EQUITABLE PROCUREMENT AND INCLUSIVE WORKFORCE...

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SUPPORTS MASS BASED BLACK LED FIRMS VIA GRANTS, BACK-OFFICE SUPPORT, AND DIGITAL SOLUTIONS. ADVOCATES FOR ACCESS TO ADEQUATE & AFFORDABLE CAPITAL, EQUITABLE PROCUREMENT AND INCLUSIVE WORKFORCE DEVELOPMENT.

Program 2
Revenue: $28,560

THROUGH ONE OF THEIR WHOLLY-OWNED SUBSIDIARIES, BCI, THE ORGANIZATION MAKES LOANS TO MEMBERS OF THE COMMUNITY THEY SERVE. BCI HAS AN INVESTMENT COMMITTEE THAT REVIEWS THE APPLICATIONS AND DUE...

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THROUGH ONE OF THEIR WHOLLY-OWNED SUBSIDIARIES, BCI, THE ORGANIZATION MAKES LOANS TO MEMBERS OF THE COMMUNITY THEY SERVE. BCI HAS AN INVESTMENT COMMITTEE THAT REVIEWS THE APPLICATIONS AND DUE DILIGENCE PACKETS OF EACH ENTITY THAT APPLIES FOR A LOAN, AND THAT COMMITTEE CONSISTS OF SIX MEMBERS WITH EXTENSIVE EXPERIENCE. IN 2025, THE ORGANIZATION ISSUED LOANS TO FOUR BUSINESSES TOTALING $310,587. THE ORGANIZATION RECORDED INTEREST INCOME OF $28,560 RELATING TO ALL OUTSTANDING LOANS.

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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 (2025)

Revenue Breakdown

Contributions & Grants $2,942,592
Program Service Revenue $1,036,570
Investment Income $15,519
Other Revenue $-43,402
TOTAL REVENUE $3,951,279

Expense Breakdown

Grants Paid $359,502
Salaries & Benefits $1,708,756
Fundraising Expenses $638,753
Program Expenses $2,432,771
Other Expenses $1,466,915
TOTAL EXPENSES $3,535,173

Year-over-Year Comparison

2025 2024 Change
Revenue $3,951,279 $5,845,824 -0.3%
Expenses $3,535,173 $5,249,760 -0.3%
Net Income $416,106 $596,064 -0.3%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
13
Independent Members
12
Employees
18
Volunteers
22

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
4
$320,034
Total Directors
13
$320,034
Key Employees
0
$0
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
NICOLE OBI PRESIDENT AND CEO 40.00
Officer Director
$281,066 $38,968 $320,034
LAMONT CLEMONS DIRECTOR 1.00
Director
$0 $0 $0
CHIDERAH OKOYE SECRETARY/CLERK 1.00
Officer Director
$0 $0 $0
CHARRAN FISHER DIRECTOR 1.00
Director
$0 $0 $0
MARCITA THOMPSON DIRECTOR 1.00
Director
$0 $0 $0
EUGENE GREEN TREASURER 1.00
Officer Director
$0 $0 $0
HERBY DUVERNE BOARD CHAIR 1.00
Officer Director
$0 $0 $0
MICHELE COURTON BROWN DIRECTOR 1.00
Director
$0 $0 $0
COURTNEY BRUNSON DIRECTOR 1.00
Director
$0 $0 $0
HILINA D AJAKAIYE DIRECTOR 1.00
Director
$0 $0 $0
DAREN BASCOME DIRECTOR 1.00
Director
$0 $0 $0
DANA MENDENHALL DIRECTOR 1.00
Director
$0 $0 $0
TOM SANDS DIRECTOR 1.00
Director
$0 $0 $0
KRYSTAL CUMMINGS CHIEF OF PEOPLE AND CULTURE 40.00
Highest
$126,972 $21,445 $148,417
MACKENSON CHARLES CHIEF OF MEMBERSHIP PROGRAMS 40.00
Highest
$117,175 $21,138 $138,313
ALYSSA BENALFEW-RAMOS CHIEF OF POLICY 40.00
Highest
$130,960 $4,905 $135,865
NANCY ROUSSEAU CHIEF OF DEVELOPMENT 40.00
Highest
$108,245 $5,990 $114,235
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
2025 $3,951,279 $3,535,173 $4,014,086 $416,106
2024 $5,845,824 $5,249,760 $4,202,825 $596,064
2023 $4,360,772 $4,850,732 $3,424,866 $-489,960
2022 $4,157,091 $3,033,740 $2,847,852 $1,123,351
2021 $1,520,645 $1,553,842 $1,534,310 $-33,197
2020 $1,587,547 $345,680 $1,365,280 $1,241,867
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