2024-10-16T03:24:57-04:00 2023-12-31 990 2023-01-01 901179763 247 BLAC % Madelyn Ridgeway 247B 3194270314 PO BOX 2031 WATERLOO IA 507042031 MADELYN RIDGEWAY EXECUTIVE DIRECTOR 2024-10-16 2023 2024-10-15 13:58:12Z X Madelyn Ridgeway PO BOX 2031 WATERLOO IA 507042031 315937 false X WWW.TWENTYFOURSEVENBLAC.COM X 2021 IA COORDINATION OF REDEVELOPMENT EFFORTS 9 9 1 0 0 0 907172 311451 0 4486 0 0 0 0 907172 315937 0 49500 31777 0 0 27162 0 3750 3750 455399 286356 487176 366768 419996 -50831 813445 743403 7549 2854 805896 740549 COORDINATION OF REDEVELOPMENT EFFORTS false false 136396 35000 0 BLACK BUSINESS & ENTREPRENEURSHIP ACCELERATOR - In 2023 our organization successfully facilitated two cohorts of participants through our comprehensive entrepreneurial training program. These cohorts comprising individuals from diverse backgrounds were designed to equip participants with the necessary skills resources and mentorship to launch and grow their own businesses. A total of 21 participants completed the program and graduated with each graduate demonstrating proficiency in core areas such as business planning financial management and marketing strategy. Notably all 21 graduates launched entrepreneurial ventures as a result of the program contributing to local economic development and fostering innovation within their respective industries. Through our continued focus on education mentorship and resource development we remain committed to empowering emerging entrepreneurs and supporting their journey toward sustainable business ownership. 39316 14500 0 PROJECT HOME - In 2023 Project Home a public-private partnership dedicated to increasing the number of Black homeowners in the Midwest achieved significant outcomes aligned with its mission to foster wealth-building and personal asset development within historically underrepresented communities. Through targeted education financial literacy programs and access to resources Project Home successfully supported 33 participants in achieving first-time homeownership. By providing guidance on navigating the home-buying process and securing financing these 33 new homeowners are now on a path toward building equity and financial stability. The program's outcomes reflect its strong commitment to addressing systemic barriers to homeownership and supporting wealth creation in Black communities across the Midwest. 42655 0 0 CONTENT THAT MATTERS - In 2023 the organization launched a one-time project titled Curriculum That Matters designed to revamp and enhance the entire program curriculum across all offerings. The goal of this initiative was to ensure that the curriculum reflects current trends best practices and the evolving needs of participants particularly in the areas of leadership development professional growth and business strategy. This comprehensive overhaul included updating instructional materials integrating innovative learning techniques and ensuring the content was culturally relevant and tailored to the experiences of Black professionals and businesses. The Curriculum That Matters project has positioned the organization to deliver even more impactful and effective programming in the future with a focus on equipping participants with the tools and knowledge necessary for sustained personal and professional success. 39039 0 0 257406 true 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 false 13 25000 false 1 false false false false false false false 0 false false false false false false false false 9 9 false false false false false false false true true false false true true true true true true true true false X KINGSLEY BOTCHWAY 3192693281 PO BOX 2031 WATERLOO IA 50704 X SHARINA SALLIS PRESIDENT 3.00 0.00 X 0 0 0 FELICIA SMITH NALLS VICE PRESIDENT 2.00 0.00 X 0 0 0 KINGSLEY BOTCHWAY TREASURER 3.00 0.00 X 0 0 0 KALOLA ROBY SECRETARY 2.00 0.00 X 0 0 0 TRAVIS HALL BOARD MEMBER 1.00 0.00 X 0 0 0 TRAVIS FERGUSON BOARD MEMBER 1.00 0.00 X 0 0 0 LYNN LAGRONE BOARD MEMBER 1.00 0.00 X 0 0 0 KEYAIRA MILLER BOARD MEMBER 1.00 0.00 X 0 0 0 ALLEN SPELLER BOARD MEMBER 1.00 0.00 X 0 0 0 0 0 0 0 false false false 0 0 0 0 0 311451 0 311451 4486 0 0 4486 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4486 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 315937 0 0 4486 X 0 0 49500 49500 0 0 0 0 25000 1250 23750 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2162 1081 1081 0 0 0 0 0 100 0 100 0 28113 8153 19960 0 0 0 0 0 3750 3750 0 0 0 0 223978 176955 47023 0 0 0 0 0 26872 15564 11308 0 2900 1525 1375 0 0 0 0 0 65 0 65 0 4230 3378 852 0 0 0 0 0 0 0 0 0 20 0 20 0 0 0 0 0 0 0 0 0 0 0 0 0 BANK FEES 28 0 28 0 DUES 50 0 50 0 0 0 0 0 0 0 0 0 0 0 0 0 366768 257406 105612 3750 0 0 0 0 647914 324906 101015 368497 0 0 0 0 0 0 0 0 64516 50000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 813445 743403 7549 2854 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 7549 2854 X 805896 740549 0 0 805896 740549 813445 743403 X -50831 0 0 0 0 -14516 X false false false X 0 42550 430929 907172 308119 1688770 0 0 0 0 0 0 0 0 0 0 0 0 0 42550 430929 907172 308119 1688770 1688770 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1688770 1 1.0000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED true Part VI, Line 12c The organization regularly and consistently monitors and enforces compliance with its policies by conducting an annual review. As part of this process all board members are required to review the policies and sign an acknowledgment confirming their understanding and agreement to comply. This ensures that all governing members remain informed and accountable for upholding the organization's standards and policies throughout the year. Part VI, Line 15 Schedule O - Executive Director Compensation Determination Process: The organization determines the Executive Director's compensation by having the board of directors conduct research on comparable salary data for executive roles in the Waterloo Iowa area. Independent board members review this data and deliberate during a formal meeting. After discussion the board votes on the Executive Director's salary and the decision is contemporaneously documented to ensure transparency and compliance with governance policies. Part VI, Line 19 The organization makes its governing documents conflict of interest policy and financial statements available to the general public upon request. Members of the public can obtain these documents by contacting the organization directly through written or electronic communication. Part IX, Line 11g PROGRAM PROFESSIONAL SERVICE $145,416 GENERAL OPERATING PROFESSIONAL SERVICES $31,541.34, Part III, Line 4d | Description:, Expense Amount:, Grants Amount:, Revenue Amount:| Other programs, $39039, $0, $0| Part XI, Line 9 | Description:, Explanation:, Amount:| The organization initially recorded a note receivable of $14,516 which has been determined to be an error due to poor bookkeeping practices when the organization started. There was no loan issued and this adjustment corrects the prior financial misstatement., Write-off of incorrect note receivable entry from prior year., $-14516| Part VI Line 11 | Explanation:| The organizations process for reviewing Form 990 involves the Executive Director and Treasurer distributing the draft 990 via email to all members of the governing body. Each member is given the opportunity to review the form and approval to submit the final draft is obtained via email prior to filing. Part X Line 11 | Explanation:| LINE 11G - OTHER FEES FOR SERVICES DESCRIPTION PROGRAM PROFESSIONAL SERVICES $146,366 GENERAL OPERATING PROFESSIONAL SERVICES $47,023