BLACK ECONOMIC COUNCIL OF MASSACHUSETTS INC (EIN 810687250) - Form 990 Financial Analysis & Trantor Score

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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

2015

Legal Domicile

Principal Officer

NICOLE OBI

Phone

8573084623

Tax Period

2024-01-01 to 2024-12-31

BLACK ECONOMIC COUNCIL OF MASSACHUSETTS INC, founded in 2015, is a community nonprofit in the Social Science sector that reported $5.8M in total revenue in fiscal year 2024. Revenue surged 34% from the prior year, signaling strong growth momentum. Expenses of $5.2M left a modest 10% surplus.

Mission

TO ADVANCE THE ECONOMIC WELL-BEING OF BLACK BUSINESSES, ORGANIZATIONS & RESIDENTS IN MA.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $4,842,685

Program Service Revenue $962,194

Investment Income $42,871

Other Revenue $-1,926

TOTAL REVENUE $5,845,824

Expense Breakdown

Grants Paid $447,431

Salaries & Benefits $2,237,247

Fundraising Expenses $563,904

Program Expenses $3,839,193

Other Expenses $2,565,082

TOTAL EXPENSES $5,249,760

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,845,824	$4,360,772	+0.3%
Expenses	$5,249,760	$4,850,732	+0.1%
Net Income	$596,064	$-489,960	-2.2%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$319,979

Total Directors

$319,979

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NICOLE OBI	PRESIDENT AND CEO	40.00	Officer Director	$280,664	$39,315	$319,979
LAMONT CLEMONS	TREASURER	1.00	Officer Director	$0	$0	$0
CHIDERAH OKOYE	CLERK	1.00	Officer Director	$0	$0	$0
CHARRAN FISHER	DIRECTOR	1.00	Director	$0	$0	$0
DALIDA ROCHA	DIRECTOR (THRU JULY 2024)	1.00	Director	$0	$0	$0
GARY EVEE	DIRECTOR (THRU DECEMBER 2024)	1.00	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
KEITH CHANEY	DIRECTOR (THRU JULY 2024)	1.00	Director	$0	$0	$0
CAROLE MONTGOMERY	DIRECTOR (THRU MARCH 2024)	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	$123,005	$18,031	$141,036
MACKENSON CHARLES	CHIEF OF MEMBERSHIP PROGRAMS	40.00	Highest	$117,068	$16,286	$133,354
TRACYE WHITFIELD	DIRECTOR OF CEE PROGRAM	40.00	Highest	$135,545	$5,385	$140,930
XAVIER ANDREWS	CHIEF OF COMMUNICATIONS & MARKETING	40.00	Highest	$131,534	$11,964	$143,498

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	$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

BLACK ECONOMIC COUNCIL OF MASSACHUSETTS INC