GLOBAL BLACK GAY MEN CONNECT CORPO… - Form 990 Financial Data

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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

2023

Legal Domicile

Principal Officer

MICHAEL IGHODARO

Phone

3472180065

Tax Period

2024-01-01 to 2024-12-31

GLOBAL BLACK GAY MEN CONNECT CORPORATION, founded in 2023, is a community nonprofit in the Human Services sector that reported $2.4M in total revenue in fiscal year 2024. The organization ran a surplus of $1.0M, a strong 42% operating margin.

Mission

To build an activist movement of Black Gay Men that is financially sustainable and equipped to provide equal access to health care education and opportunities for economic prosperity and talent recognition Our Movement affirms the human rights of all people while emphasizing Black and Brown LGBTQIA People.

Program Service Accomplishments

Program 1

Expenses: $250,000 Revenue: $250,000

USAID/FHI 360 CSP Strnthening, CAB PrEP: As part of the PEPFAR/USAID - funded EPIC Project led by FHI 360, this initiative focused on strengthening key population - led Civil Society...

USAID/FHI 360 CSP Strnthening, CAB PrEP: As part of the PEPFAR/USAID - funded EPIC Project led by FHI 360, this initiative focused on strengthening key population - led Civil Society Organizations(CSOs) in HIV prevention and service delivery. A Significant component was the community - led rollout of long acting CAB-PrEP . Activities included developing and adapting HIV prevention tools, providing technical assistance and training to CSOs and policy engagement for funding and regulatory approvals. Notable achievements in 2024 included the creation of a CAB-PrEP Peer Outreach FAQ booklet and participation in global workshops and conferences.

Program 2

Expenses: $197,279 Revenue: $320,636

MUNICH PRE-CONFERENCE KEY POPULATIONS: GBGMC organized the first -ever Global Key Populations HIV Prevention Pre-Conference at AIDS 2024 in Munich, Germany. The event brought together global KP...

MUNICH PRE-CONFERENCE KEY POPULATIONS: GBGMC organized the first -ever Global Key Populations HIV Prevention Pre-Conference at AIDS 2024 in Munich, Germany. The event brought together global KP advocates to discuss barriers and slutions in HIV prevention, highlight innovative strategies tailored to KPs( Including MSM, Transgender individuals, sex workers and PWID), provide scholarships for KP Leaders and advance HIV prevention advocacy and global policy discussions. This Pre-conference established a significant precedent for KP focused efforts at future AIDS conferences.

Program 3

Expenses: $41,824 Revenue: $48,547

AMFAR/ViiV: The AMFAR/ViiV Program advanced HIV prevention for key populations in alignment with the Global HIV Prevention Roadmap. Key Activities included enhancing access to innovative prevention technologies, generating demand through tailored community outreach, securing funding, strengthening advocacy for key population inclusion in policy and fostering community engagement for equitable HIV Services. Major activities in 2024 involved regional workshops in Africa and Asia, policy advocacy efforts and collaborations with global partners.

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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 $2,407,011

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $2,407,011

Expense Breakdown

Grants Paid $0

Salaries & Benefits $176,414

Fundraising Expenses $0

Program Expenses $1,387,135

Other Expenses $1,210,721

TOTAL EXPENSES $1,387,135

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,407,011	N/A	N/A
Expenses	$1,387,135	N/A	N/A
Net Income	$1,019,876	$0	N/A

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

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

$162,180

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHEAL IGHODARO	EXECUTIVE DIRECTOR	40	Officer	$162,180	$0	$162,180

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	$2,407,011	$1,387,135	$1,047,872	$1,019,876

GLOBAL BLACK GAY MEN CONNECT CORPORATION