Minnesota Black Chamber of Commerce

Address
401 N Robert Street
Saint Paul, MN 551012001
Contact
Website: http://www.minnesotabcc.org
Phone: +1 (651) 224-4320
Nonprofit
NTEE: S41 - Promotion of Business
EIN: 20-0722799

Mission

Support Network for Black Business Owners
 20162014201220112009
Basic features of the organization
Year of formation2004
Subsection code03
PF filing required0    
Metropolitan statistical area5120
Form of organization
CorporationTrue
Human resources, including compensation
Summary compensation info
Total compensation of current key personnel $0.00   
Sum of reportable (W2/1099) compensation $32,496.00   
Number of employees 0   
Number of volunteers 20   
Personnel
Alan, Reid
Title Vice Chairman   
Name of key/compensated person REID ALAN   
Position of compensated person
Current officer True   
Average hours per week working for org 1.00   
Reportable compensation from org $0.00   
Other comp, non-reportable, from org and related orgs $0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00   
Blocton, Fredrick
TitleMember    
Name of key/compensated personFREDRICK BLOCTON    
Reportable compensation from org$0.00    
Chuck, Okitipi
Title Member   
Name of key/compensated person OKITIPI CHUCK   
Position of compensated person
Average hours per week working for org 0.00   
Reportable compensation from org $0.00   
Other comp, non-reportable, from org and related orgs $0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00   
Estes, Frederic
TitleChairman    
Name of key/compensated personFREDERIC N ESTES    
Reportable compensation from org$0.00    
Fondungallah, Michael
TitleVice President / Secretary    
Name of key/compensated personMICHAEL FONDUNGALLAH    
Reportable compensation from org$0.00    
Fredrick, Blocton
Title Member   
Name of key/compensated person BLOCTON FREDRICK   
Position of compensated person
Average hours per week working for org 0.00   
Reportable compensation from org $0.00   
Other comp, non-reportable, from org and related orgs $0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00   
Gloria, Freeman
Title Member   
Name of key/compensated person FREEMAN GLORIA   
Position of compensated person
Average hours per week working for org 0.00   
Reportable compensation from org $0.00   
Other comp, non-reportable, from org and related orgs $0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00   
Hargett, Lea
TitlePresident    
Name of key/compensated personLEA HARGETT    
Reportable compensation from org$35,103.00    
Hillary, Swanson
Title Member   
Name of key/compensated person SWANSON HILLARY   
Position of compensated person
Average hours per week working for org 0.00   
Reportable compensation from org $0.00   
Other comp, non-reportable, from org and related orgs $0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00   
Houston, Tim
TitleMember    
Name of key/compensated personTIM HOUSTON    
Reportable compensation from org$0.00    
Jackson, Jennifer
TitleTreasurer    
Name of key/compensated personJENNIFER JACKSON    
Reportable compensation from org$0.00    
Jennifer, Jackson
Title Treasurer   
Name of key/compensated person JACKSON JENNIFER   
Position of compensated person
Current officer True   
Average hours per week working for org 3.00   
Reportable compensation from org $0.00   
Other comp, non-reportable, from org and related orgs $0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00   
Lea, Hargett
Title President   
Name of key/compensated person HARGETT LEA   
Position of compensated person
Current officer True   
Average hours per week working for org 40.00   
Reportable compensation from org $32,496.00   
Other comp, non-reportable, from org and related orgs $0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00   
Michael, Fondungallah
Title Secretary   
Name of key/compensated person FONDUNGALLAH MICHAEL   
Position of compensated person
Current officer True   
Average hours per week working for org 1.00   
Reportable compensation from org $0.00   
Other comp, non-reportable, from org and related orgs $0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00   
Murugan, Palani
Title Member   
Name of key/compensated person PALANI MURUGAN   
Position of compensated person
Average hours per week working for org 0.00   
Reportable compensation from org $0.00   
Other comp, non-reportable, from org and related orgs $0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00   
N, Estes
Title Chairman   
Name of key/compensated person ESTES FREDERIC N   
Position of compensated person
Current officer True   
Average hours per week working for org 3.00   
Reportable compensation from org $0.00   
Other comp, non-reportable, from org and related orgs $0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00   
Okitpki, Chuck
TitleMember    
Name of key/compensated personCHUCK OKITPKI    
Reportable compensation from org$0.00    
Palani, Murugan
TitleMember    
Name of key/compensated personMURUGAN PALANI    
Reportable compensation from org$0.00    
Pearson, Shawn
TitleMember    
Name of key/compensated personSHAWN PEARSON    
Reportable compensation from org$0.00    
Reid, Alan
TitleVice Chairman    
Name of key/compensated personALAN REID    
Reportable compensation from org$0.00    
Shawn, Pearson
Title Member   
Name of key/compensated person PEARSON SHAWN   
Position of compensated person
Average hours per week working for org 0.00   
Reportable compensation from org $0.00   
Other comp, non-reportable, from org and related orgs $0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00   
Swanson, Hillary
TitleMember    
Name of key/compensated personHILLARY SWANSON    
Reportable compensation from org$0.00    
Tim, Houston
Title Member   
Name of key/compensated person HOUSTON TIM   
Position of compensated person
Average hours per week working for org 0.00   
Reportable compensation from org $0.00   
Other comp, non-reportable, from org and related orgs $0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00   
Purpose: mission, activities, & accomplishments
Mission or significant activities Support Network for Black Business Owners   
Primary exempt purposeProvide business support network for Members.    
Program service expenses, total$32,589.00$45,659.00   
Programs, including revenue & expenses
LOAN PROGRAM FOR BLACK BUSINESS OWNERS MBCC RECEIVED FUNDING FOR THE LOAN FUND AND MADE ITS FIRST LOAN TO A TARGETED BUSINESS ENTITY IN 2013.
Program expenses $10,936.00   
Program revenue $275.00   
Program description LOAN PROGRAM FOR BLACK BUSINESS OWNERS MBCC RECEIVED FUNDING FOR THE LOAN FUND AND MADE ITS FIRST LOAN TO A TARGETED BUSINESS ENTITY IN 2013.   
PROVIDE SUPPORT NETWORK FOR BLACK BUSINESS OWNERS
Program expenses $34,723.00   
Program revenue $132,233.00   
Program description PROVIDE SUPPORT NETWORK FOR BLACK BUSINESS OWNERS   
SCHOLARSHIP PROGRAM FOR MINORITY STUDENTS NO SCHOLARSHIP OUTLAYS WERE MADE IN 2014.
Program revenue $1,150.00   
Program description SCHOLARSHIP PROGRAM FOR MINORITY STUDENTS NO SCHOLARSHIP OUTLAYS WERE MADE IN 2014.   
Financial data
Revenue
Total revenue$59,272.00$82,397.00   
Revenue from contributions (total) $83,243.00$13,833.00$27,889.00$10,884.00
Investment income, current yr$3,183.00$796.00   
Total revenue from grants, etc., current yr $83,243.00   
Total unrelated business revenue $0.00   
Other revenue, current yr -$1,917.00   
Program service revenue (total) $275.00$5,940.00$8,407.00$0.00
Gross receipts $142,498.00   
Sources of contributions
Contributions revenue from membership dues $5,300.00   
Revenue from all other contributions $77,943.00   
Other types of revenue
Miscellaneous revenue (total) $513.00   
Income from dividends, interest, and similar investments $796.00   
Net rental income $0.00  $0.00
Net income from fundraising events -$2,430.00   
Expense categories (totals)
Total functional expenses: sum of all $76,746.00   
Total functional expenses: program service  $45,659.00   
Total functional expenses: management and general $27,042.00   
Total functional expenses: fundraising $4,045.00   
Fees for services
Fundraising service fees (total) $0.00   
General management fees (total) $40,450.00   
Assets and liabilities
Total assets$332,481.00$375,141.00$7,216.00$14,338.00$14,999.00
Total assets, beginning of year$342,722.00$327,418.00   
Total liabilities$10,185.00$51,501.00$0.00$0.00$4,900.00
Total liabilities, beginning of year$1,448.00$9,429.00   
Unrestricted net assets, end of yr -$42,192.00   
Temporarily restricted net assets $365,832.00   
Net assets$322,296.00$323,640.00   
Net assets, beginning of year $317,989.00   
Cash: non-interest bearing $67,515.00   
Cash: non-interest bearing, beginning of year $22,952.00   
Other financial variables
Revenue less expenses $5,651.00   
Advertising (total) $1,653.00   
Savings & temp cash investment $297,148.00   
Accounts receivable, net $300.00   
Accounts payable & accrued expenses $1,501.00   
Deferred revenue $50,000.00   
Total net assets or fund balances $323,640.00   
Payment to affiliates $800.00   
Governance and accountability
Number of voting members 12   
Number of independent voting members 11   
Accrual accountingTrueTrue   
Tax year start date2016-01-012014-01-01   
Tax year end date2016-12-012014-12-012012-12-012011-12-012009-12-01
Indicators for schedules (selected)
Business transaction with entity owner True   
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990EZ990   
Date e-filing submitted2018-01-032016-02-19   
IRS schema version2016v3.02014v5.0   
Filing identifier201733209349200008201533209349315873   
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