Black Music Entrepreneurship Incub… - 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

2020

Legal Domicile

Phone

3234817372

Tax Period

2024-01-01 to 2024-12-31

Black Music Entrepreneurship Incubator, founded in 2020, is a small nonprofit that reported $537K in total revenue in fiscal year 2024. Revenue fell 28% from the prior year — a significant decline worth monitoring. Expenses of $776K exceeded revenue, resulting in a 45% operating deficit.

Mission

The education, instruction, and training of predominately black musical artists, music technology creators, and music entrepreneurs, for the purpose of improving or developing their capabilities.

Program Service Accomplishments

Program 1

Expenses: $757,628

The organization was formed in December of 2020 and achieves exposure to Black entrepreneurs with a detailed website.

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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 $421,313

Program Service Revenue $19,784

Investment Income $17,857

Other Revenue $78,196

TOTAL REVENUE $537,150

Expense Breakdown

Grants Paid $35,500

Salaries & Benefits $17,624

Fundraising Expenses $1,245

Program Expenses $757,628

Other Expenses $723,373

TOTAL EXPENSES $776,497

Year-over-Year Comparison

	2024	2023	Change
Revenue	$537,150	$742,556	-0.3%
Expenses	$776,497	$468,376	+0.7%
Net Income	$-239,347	$274,180	-1.9%

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

N/A

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

Total Directors

$10,192

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Lance Coleman	Secretary	5.00	Director	$0	$0	$10,192
Bryan Calhoun	Treasurer	5.00	Director	$0	$0	$0
Bosco Kante	President & CEO	40.00	Officer	$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	$537,150	$776,497	$394,246	$-239,347
2023	$742,556	$468,376	$610,755	$274,180
2022	$760,391	$450,196	$484,244	$310,195

Black Music Entrepreneurship Incubator