2024-10-09T21:02:23Z 2023-12-31 990 2023-01-01 742109039 BLACK UNITED FUND OF TEXAS INC BLAC 7135245767 2606 GREGG ST Ste A HOUSTON TX 77026 Cleo Johnson President 7135245767 2024-10-09 2023 2024-10-15 13:58:12Z X Cleo Johnson 2606 Gregg St Ste A Houston TX 77026 232242 false X buftx.org X 1984 TX Is to serve as a community based statewide resource center to enhance self-help opportunities that foster initiatives to promote community and development that result in economic empowerment 11 11 0 14 0 0 194350 232242 0 0 0 0 194350 232242 119151 99103 0 64056 0 0 105373 119151 268532 75199 -36290 82321 46031 0 0 82321 46031 Is to serve as a community-based statewide resource center to enhance self-help opportunities that foster initiatives to promote community and development that result in economic empowerment false false 120000 120000 Community Interventions that served +500 people in urban communities from a Controlled Environment Agriculture system. 38000 38000 Health and Education - planted 350 trees to assist the community in developing cleaner air systems, painted 5 murals in community spaces for educational purposes with foot traffic of 1000 people a month. 110000 110000 Federation - assisted other non-profits and CBO's with microgrants to further their mission. 268000 true false false false false false false false false false false false false false false false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false true 0 0 true 0 false false false false false false X 11 11 false false false false false false false true true false false true true true true true true false false true true TX X Cleo G Johnson 7135245767 2606 Gregg St Ste A Houston TX 77026 Marcus Glenn Chair 15.00 X 0 0 0 Cleo G Johnson President 40.00 X 0 0 0 Judy Elam Secretary 10.00 X 0 0 0 0 0 0 0 false false false 0 232242 232242 232242 0 0 0 99103 99103 64056 64056 55206 55206 385 385 35632 29218 6414 14150 11603 2547 268532 259186 9346 0 82321 46031 82321 46031 0 0 X 82321 46031 82321 46031 82321 46031 -36290 X false false false X 0 109266 194350 232242 535858 0 0 109266 194350 232242 535858 535858 535858 1.00000 1.00000 X true 0 1 Part I, Line 2 Documentation and Record-Keeping Grant Award Records: Once grants or assistance have been awarded, BUFTX maintains detailed records for each recipient. These records include: The amount of the grant or assistance awarded. The recipients application and all supporting documentation. Documentation of the eligibility review process. Records of the selection committees evaluation and decision-making process. All records are maintained in both physical and electronic formats, where applicable, and are stored securely in compliance with BUFTXs document retention policies. Grant Agreements: Each grant recipient must sign a formal grant agreement outlining the terms and conditions of the grant or assistance, the use of funds, reporting requirements, and the organizations rights to request additional information or audits. Copies of all signed agreements are retained in the grantees file. 4. Monitoring and Reporting Ongoing Monitoring: BUFTX conducts regular monitoring of grant recipients to ensure that funds are being used in accordance with the grant agreement. Monitoring may include reviewing progress reports, site visits, or financial audits. Financial Reporting: Recipients are required to submit periodic financial reports using the BUFTX-provided template. These reports detail how grant funds have been spent, and the recipients are required to provide receipts or other documentation to support their expenditures. Final Reports: At the conclusion of the grant period, recipients must submit a final report that includes both a narrative summary of the impact of the grant and a financial report documenting the total use of funds. BUFTX retains these final reports as part of the official grant records. 5. Audit and Review Internal Audits: BUFTX conducts internal audits of its grant records on a periodic basis to ensure that all records are complete and accurate. This audit includes verifying that the proper selection criteria were used, that eligibility was documented, and that grants were awarded in accordance with BUFTXs policies. External Reviews: If required by law or funders, BUFTX may engage external auditors to review the organizations grant-making process and ensure compliance with applicable regulations. Part VI, Line 11b Black United Fund of Texas, Inc. (BUFTX) follows a structured process for reviewing its Form 990 before filing: Distribution via Email: A draft of Form 990 is prepared by the organization's accounting staff or external tax preparer. The draft is then distributed to all members of the Board of Directors via email for their review. The email includes instructions for board members to carefully review the document and to submit any questions or concerns prior to the board meeting. Board Meeting Discussion: After the draft has been circulated, the board formally reviews the Form 990 during the next scheduled board meeting. During this meeting, any questions or concerns raised by board members are discussed in detail. The board ensures that the Form 990 accurately reflects the organizations financial activities and complies with all reporting requirements. Approval and Filing: Once the board has completed its review and any necessary revisions are made, the board votes to approve the Form 990 for submission. The approved version is then filed with the IRS by the designated staff or tax preparer. Part VI, Line 12c Annual Disclosure Statements: All directors, officers, and key employees are required to complete and sign an annual conflict of interest disclosure form. These forms are reviewed by the Audit Committee or the Governance Committee, which ensures that any potential conflicts are disclosed and addressed. Ongoing Monitoring of Transactions: BUFTX reviews all proposed transactions involving Interested Persons, as defined by the Conflict of Interest Policy. Before the organization enters into any contract or arrangement, the Board of Directors or its designated committee examines the transaction to ensure that it does not present a conflict of interest or that any conflict is properly managed. Meeting Minutes Documentation: Conflicts of interest are discussed and addressed during board and committee meetings. The minutes of these meetings document disclosures, discussions, decisions on conflict determinations, and the recusal of any Interested Person from discussions or voting on the matter. Part VI, Line 19 During the tax year, Black United Fund of Texas, Inc. (BUFTX) made its governing documents, conflict of interest policy, and financial statements available to the public through the following methods: Public Inspection upon Request: BUFTX allows members of the public to request copies of its governing documents (such as the articles of incorporation and bylaws), conflict of interest policy, and financial statements. These documents are available for review at BUFTXs office during regular business hours. Individuals can submit a formal request by email, phone, or in person. State and Federal Filings: As required by law, BUFTX files Form 990, which includes its financial information, with the IRS. This form is available to the public through the IRS website or on nonprofit databases such as GuideStar. Houston, TX has been hit by two natural disasters which prevented filing after an extension was granted.