BELOVED COMMUNITY INCUBATOR INC

EIN: 833133482 501(c)(3) Employment

WASHINGTON, DC

Total Revenue
$1,137,098
Total Expenses
$1,042,575
Total Assets
$312,692
Net Assets
$312,692
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2018
Legal Domicile
DC
Principal Officer
GEOFFREY GILBERT
Phone
2026671377
Tax Period
2023-01-01 to 2023-12-31

BELOVED COMMUNITY INCUBATOR INC, founded in 2018, is a community nonprofit in the Employment sector that reported $1.1M in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum. Expenses of $1.0M left a modest 8% surplus.

Mission

BELOVED COMMUNITY INCUBATOR (BCI) IS WORKER SELF-DIRECTED NON-PROFIT THAT SUPPORTS AND ORGANIZES RESOURCES FOR COMMUNITY-BASED COOPERATIVES AND COLLECTIVES IN THE DC METRO AREA. BCI PROVIDES HIGH-TOUCH INCUBATION SUPPORT - INCLUDING LEADERSHIP DEVELOPMENT, ECOSYSTEM AND RESOURCE ORGANIZING AND LEGAL, BOOKKEEPING AND ADMINISTRATIVE SUPPORT - FOR NEW COOPERATIVES THAT CREATE LIVING WAGE WORK AND THAT ARE LED BY POOR AND WORKING CLASS BLACK, BROWN, INDIGENOUS AND PEOPLE OF COLOR.

Program Service Accomplishments

Program 1
Expenses: $694,250 Revenue: $7,744

WE SUPPORT WORKERS TO CREATE AND MAINTAIN COLLECTIVELY OWNED BUSINESSES SO THAT WORKERS CAN CONTROL THEIR WORK, PAY THEMSELVES LIVING WAGES, BUILD A DEMOCRATIC PRACTICE OF STEWARDING RESOURCES...

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WE SUPPORT WORKERS TO CREATE AND MAINTAIN COLLECTIVELY OWNED BUSINESSES SO THAT WORKERS CAN CONTROL THEIR WORK, PAY THEMSELVES LIVING WAGES, BUILD A DEMOCRATIC PRACTICE OF STEWARDING RESOURCES TOGETHER AND ENGAGE IN THE WIDER DMV AREA MOVEMENT ECOSYSTEM THAT IS BUILDING ABOLITION AND DECOLONIZATION. WE PROVIDE HIGH-TOUCH INCUBATION SUPPORT - INCLUDING LEADERSHIP DEVELOPMENT, ECOSYSTEM AND RESOURCE ORGANIZING AND LEGAL, BOOKKEEPING AND ADMINISTRATIVE SUPPORT - FOR NEW COOPERATIVES THAT CREATE LIVING WAGE WORK AND THAT ARE LED BY POOR AND WORKING CLASS BLACK, BROWN, INDIGENOUS AND PEOPLE OF COLOR. IN ADDITION TO HIGH-TOUCH INCUBATION SUPPORT, WE PROVIDE TECHNICAL ASSISTANCE AND NON-EXTRACTIVE LENDING TO DC-AREA COOPERATIVES AND COLLECTIVES. WE ALSO ORGANIZE FOR WORKER POWER AND COLLECTIVE CONTROL OF RESOURCES IN DC THROUGH COMMUNITY ORGANIZING, BROAD-BASED CAMPAIGNS AND MUTUAL AID.

Program 2
Expenses: $224,173

BCI INCUBATES NEW COOPERATIVES AND COLLECTIVES, PROVIDING SUPPORT FOR WORKERS THROUGH THE ENTIRE PROCESS OF CREATING AND LAUNCHING THEIR BUSINESS OPERATIONS. AS AN INCUBATOR, WE PROVIDE PRE-LAUNCH...

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BCI INCUBATES NEW COOPERATIVES AND COLLECTIVES, PROVIDING SUPPORT FOR WORKERS THROUGH THE ENTIRE PROCESS OF CREATING AND LAUNCHING THEIR BUSINESS OPERATIONS. AS AN INCUBATOR, WE PROVIDE PRE-LAUNCH SUPPORT, BUSINESS & LEADERSHIP DEVELOPMENT, GOVERNANCE AND CONFLICT RESOLUTION TRAININGS, AND LEGAL, BOOKKEEPING, AND ADMINISTRATIVE SUPPORT.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,129,011
Program Service Revenue $7,744
Investment Income $343
Other Revenue $0
TOTAL REVENUE $1,137,098

Expense Breakdown

Grants Paid $12,350
Salaries & Benefits $541,259
Fundraising Expenses $25,211
Program Expenses $918,423
Other Expenses $488,966
TOTAL EXPENSES $1,042,575

Year-over-Year Comparison

2023 2022 Change
Revenue $1,137,098 $886,288 +0.3%
Expenses $1,042,575 $815,261 +0.3%
Net Income $94,523 $71,027 +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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Governance

Voting Members
12
Independent Members
9
Employees
9
Volunteers
50

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
3
$261,168
Total Directors
12
$261,168
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BIANCA VAZQUEZ CO-PRESIDENT/PROGRAM DIRECTOR 40.00
Officer Director
$76,931 $5,473 $82,404
GEOFFREY GILBERT LEGAL AND TECHNICAL DIRECTOR 40.00
Officer Director
$77,328 $4,916 $82,244
MEGAN FELIX MACARAEG CO-PRESIDENT/ORGANIZING DIRECTOR 40.00
Officer Director
$81,208 $15,312 $96,520
QAADIR EL AMIN BOARD MEMBER 1.00
Director
$0 $0 $0
CELESTE SMITH BOARD MEMBER 1.00
Director
$0 $0 $0
ALANA EICHNER BOARD MEMBER 1.00
Director
$0 $0 $0
NORMA CHAVEZ BOARD MEMBER 1.00
Director
$0 $0 $0
BENJI RIVERA BOARD MEMBER 1.00
Director
$0 $0 $0
MADHVI BAHL BOARD MEMBER 1.00
Director
$0 $0 $0
MEGHAN SOBOCIENSKI BOARD MEMBER 1.00
Director
$0 $0 $0
JOSH KING BOARD MEMBER 1.00
Director
$0 $0 $0
CALVIN JOHNSON BOARD MEMBER 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 No data No data No data No data
2023 $1,137,098 $1,042,575 $312,692 $94,523
2022 $886,288 $815,261 $209,700 $71,027
2021 $389,099 $252,556 $143,609 $136,543
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