BLACK BRAND

EIN: 813953180 501(c)(3) Community Improvement

NORFOLK, VA

Total Revenue
$1,052,770
Total Expenses
$1,334,672
Total Assets
$127,201
Net Assets
$-72,892
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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
VA
Principal Officer
BLAIR DURHAM
Phone
7577191241
Tax Period
2024-01-01 to 2024-12-31

BLACK BRAND, founded in 2016, is a community nonprofit in the Community Improvement sector that reported $1.1M in total revenue in fiscal year 2024. Revenue decreased 20% compared to the prior year. Expenses of $1.3M exceeded revenue, resulting in a 27% operating deficit.

Mission

"BRAND" STANDS FOR BUSINESS RESEARCH ANALYTICS NETWORKING AND DEVELOPMENT. BLACK BRAND IS THE BLACK CHAMBER OF COMMERCE FOR THE HAMPTON ROADS, VA AREA, WHOSE MISSION IS TO PROMOTE GROUP ECONOMICS THROUGH PROFESSIONAL DEVELOPMENT AND COMMUNITY EMPOWERMENT. AS THE BLACK CHAMBER OF COMMERCE, ORGANIZATION'S MISSION IS TO TRANSFORM OUR LOCAL, REGIONAL, AND NATIONAL COMMUNITY THROUGH UNITY, EDUCATION, ACCESS, OPPORTUNITY, AND DEVELOPMENT. DURING 2023 71% OF PARTICIPANTS WERE WOMEN-OWNED BUSINESSES, 40% OF PROGRAM PARTICIPANTS RESIDED IN LOW OR MODERATE INCOME ZIP CODES, AND 20% OF PROGRAM PARTICIPANTS WERE MILITARY AFFILIATED.

Program Service Accomplishments

Program 1
Expenses: $1,233,635

IN 2023, B-FORCE ACCELERATOR NURTURED 140 BUSINESSES, MANY OF WHOM ARE PROVIDING CRITICAL SERVICE IN HAMPTON ROADS EVERY DAY. IN ADDITION TO THE TECHNICAL ASSISTANCE PROVIDED, BUSINESS OWNERS...

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IN 2023, B-FORCE ACCELERATOR NURTURED 140 BUSINESSES, MANY OF WHOM ARE PROVIDING CRITICAL SERVICE IN HAMPTON ROADS EVERY DAY. IN ADDITION TO THE TECHNICAL ASSISTANCE PROVIDED, BUSINESS OWNERS BENEFITED IN THE FOLLOWING IMPORTANT WAYS: 1. B-FORCE ACCELERATOR AWARDED 71,000 IN FUNDING TO 20 PROGRAM PARTICIPANTS. 2. 65 B-FORCE PARTICIPANTS REPORTED HAVING ACCESSED A TOTAL OF 1,650,794 IN CAPITAL. 3. B-FORCE ACCELERATOR EXPANDED ITS SERVICE AREA TO ACCEPT BUSINESSES ACROSS THE HAMPTON ROADS REGION, AND PARTNERED WITH THE CITY OF PORTSMOUTH ECONOMIC DEVELOPMENT TO ENSURE THAT ALL PORTSMOUTH COHORT PROGRAM GRADUATES WOULD QUALIFY TO RECEIVE ITS 2000 AND/OR 5000 GRANT. 4. BLACK BRAND CURATED A POPUP EVENT FOR EACH OF ITS FIVE COHORTS WHEREBY THE COMMUNITY COULD COME OUT, LEARN ABOUT AND SHOP WITH LOCAL MERCHANTS. 5. BLACK BRAND ORGANIZED A SUCCESSFUL CASH MOB EVENT FOR ONE DESERVING BUSINESS DURING EACH COHORT WHERE THE ENTIRE COHORT COMMITTED TO COMING OUT, BRINGING A FRIEND, AND SPENDING AT LEAST 20. 6. BLACK BRAND PROVIDED COLLABORATION OPPORTUNITIES FOR PARTICIPANTS WHICH TURNED INTO A NUMBER OF SUCCESSFUL COLLABORATIONS AND JOINT VENTURES. 7. BLACK BRAND WORKED ONE ON ONE WITH BUSINESSES NOT ONLY TO PREPARE THEM BUT TO CURATE CAPITAL OPPORTUNITIES FOR THEM BASED ON THEIR UNIQUE PROFILES, RESULTING IN A NUMBER OF BUSINESSES RECEIVING THEIR FIRST EVER CAPITAL OPPORTUNITIES IN THE FORM OF GRANTS, BUSINESS CREDIT CARDS, LINES OF CREDIT, AND PITCH CONTEST WINNINGS FROM ACROSS THE REGION. WOMEN WHO LEAD IS A 12-WEEK PROFESSIONAL DEVELOPMENT ACCELERATOR THAT HELPS MINORITY WOMEN (PRIORITIZING LMI CANDIDATES) IMPROVE THEIR LEADERSHIP SKILLS, ACCESS TRADITIONALLY MALE-DOMINATED INDUSTRIES, AND GAIN CERTIFICATIONS TO OBTAIN HIGHER PAYING WAGES OR ACCESS TO CONTRACT OPPORTUNITIES. IN PARTNERSHIP WITH NSU, PARTICIPANTS ARE EXPOSED TO 58 SUBJECT-MATTER EXPERTS. 75% OF PARTICIPANTS MATRICULATED INTO WWL SOCIETY FOR ONGOING PROFESSIONAL DEVELOPMENT. 15% OF PARTICIPANTS INCREASED THEIR PAY DURING OR AFTER THE 12-WEEK COHORT. 20% OF COHORT MEMBERS TOOK CLASSES TO OBTAIN CERTIFICATION. 30% OF PARTICIPANTS OBTAINED COMMUNITY-BASED LEADERSHIP POSITIONS. 10% OF PARTICIPANTS MATRICULATED INTO OTHER PERSONAL OR PROFESSIONAL DEVELOPMENT PROGRAMS. BLACK DIAMOND WEEKEND 2023 EXPANDED ITS OFFERING TO CREATE A FREE TRACK CALLED 757 BIAS WHICH INCLUDED AN OPPORTUNITY FAIR AND AFFIRMATIVE ACTION TOWN HALL, INTRODUCING PARTICIPANTS TO THE INVALUABLE RESOURCES THAT EXIST ACROSS THE HAMPTON ROADS REGION. IN ADDITION TO FOUR OTHER VALUE-PACKED TRACKS, PARTICIPANTS WERE GIVEN THE OPPORTUNITY TO EARN CEUS THROUGH TCC FOR THE COURSES TAKEN. THE 8TH ANNUAL BLACK DIAMOND AFFAIR AWARDED KEY LEADERS IN THE FOLLOWING CATEGORIES: EXCELLENCE IN INNOVATION: MICHELLE WREN- PORTSMOUTH PARTNERSHIP LIFETIME ACHIEVEMENT IN BUSINESS: DR. KEITH NEWBY - FORT NORFOLK MEDICAL PLAZA COMMUNITY IMPACT: TRUIST ENTREPRENEUR OF THE YEAR: DIAMOND GORMAN- REA-D EMPLOYMENT AGENCY, LLC EXCELLENCE IN NONPROFIT LEADERSHIP: ANTHONY WALTERS - YMCA EXCELLENCE IN BUSINESS LEADERSHIP - NNEKA CHIAZOR- COX COMMUNICATIONS EXCELLENCE IN HEALTH EQUITY- DANA BECKTON - SENTARA HEALTH EXCELLENCE IN PUBLIC RELATIONS- KELLI WEBB- KBD GROUP LLC EXCELLENCE IN ENTERTAINMENT- TONY BROTHERS- BROTHERS RESTAURANT BDW 2023 FEATURED 70+ HOURS OF CONTENT, 75 SPEAKERS ACROSS 3 DAYS, 451 PARTICIPANTS, 1 GRANT GIVEN TO BLACK HEALTH-INDUSTRY BUSINESS, AND 9 COMMUNITY BLACK DIAMOND AWARDS.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $443,317
Program Service Revenue $609,447
Investment Income $6
Other Revenue $0
TOTAL REVENUE $1,052,770

Expense Breakdown

Grants Paid $77,000
Salaries & Benefits $424,170
Fundraising Expenses $40,839
Program Expenses $1,233,635
Other Expenses $833,502
TOTAL EXPENSES $1,334,672

Year-over-Year Comparison

2024 2023 Change
Revenue $1,052,770 $1,311,900 -0.2%
Expenses $1,334,672 $1,416,862 -0.1%
Net Income $-281,902 $-104,962 +1.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
10
Independent Members
7
Employees
7
Volunteers
57

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
5
$135,710
Total Directors
11
$136,160
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BLAIR DURHAM EXECUTIVE DI 40.00
Officer Director
$102,900 $0 $102,900
LAFAYETTE JUDKINS CHAIR 1.00
Officer Director
$0 $0 $0
DR GENESE ROGERS CPA TREASURER 1.00
Officer Director
$32,810 $0 $32,810
RANDY WILLIAMS SECRETARY 1.00
Officer Director
$0 $0 $0
NAOMI LEWIS PARLIAMENTAR 1.00
Officer Director
$0 $0 $0
CLARENCE HARRIS CPA DIRECTOR 1.00
Director
$0 $0 $0
JAZMIN MULLEN-ALLEN ESQ DIRECTOR 1.00
Director
$450 $0 $450
TONYA BYRD DIRECTOR 1.00
Director
$0 $0 $0
JAMES BOYD DIRECTOR 1.00
Director
$0 $0 $0
GARY ARTYBRIDGE DIRECTOR 1.00
Director
$0 $0 $0
NANCY PRATHER-JOHNSON DIRECTOR 1.00
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 $1,052,770 $1,334,672 $127,201 $-281,902
2023 $1,311,900 $1,416,862 $245,043 $-104,962
2022 $954,098 $1,055,593 $609,830 $-101,495
2021 $876,134 $472,479 $1,050,467 $403,655
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