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Nonprofit · EIN 62-1008876

BLACK BUSINESS ASSOCIATION

Tax-exempt · MEMPHIS, TN 38103

Financials

$1.1M$494K2022
Revenue Expenses · by fiscal year end
Financials of BLACK BUSINESS ASSOCIATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2023990$1,051,125$494,057$557,068$1,269,376$216,169$1,053,207
Financial details: 990 for the year ended June 30, 2023

Revenue

Contributions, gifts and grants
$1,050,040
of which government grants
$1,050,000
Program service revenue
$0
Investment income
$1,085
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$208,538
Other salaries and wages
$136,927
Salaries, compensation and benefits (total)
$403,549
Professional fundraising fees
$0
Accounting fees
$6,795
Occupancy
$5,291
Travel
$6,221
Depreciation
$1,361
Program services (functional)
$468,346
Management and general (functional)
$25,711

Balance sheet and other

Total assets, start of year
$644,140
Total assets, end of year
$1,269,376
Total liabilities, end of year
$216,169
Net assets, end of year
$1,053,207
Land, buildings and equipment
$5,445
Net assets without donor restrictions
$1,053,207
Gross receipts
$1,051,125
Employees
3
Year formed
1974
State of legal domicile
TN

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended June 30, 2023, highest compensation first.

NameTitleHours / weekCompensation
Ernest StricklandPresident/CEO
Key employee
40$149,992
Alan A GumbelChief Operating Officer
Key employee
40$58,546
Mark YatesChairman
Trustee or director, Officer
1$0
Carlee McCullough EsqTreasurer
Trustee or director, Officer
1$0
Michael A Hooks JrSecretary
Trustee or director, Officer
1$0

Address and contacts

Address (IRS master file)
555 BEALE ST, MEMPHIS, TN 38103-3203
Principal officer (990 for 2022)
Alan A Gumbel, 480 Dr Martin L King Jr Ave, Memphis, TN 38126
Signed the 990
Alan A Gumbel, Chief Operating Officer
Phone
(901) 636-9300
Return prepared by
Management Advisory Services

Mission

The Organizations mission is to improve the economic well being and quality of life of all stakeholders in the Memphis region by developing successful entrepreneurs through adovocacy, education and business development.

990 for the year ended June 30, 2023

Program accomplishments

  • See Schedule O for Program Accomplishments for the fiscal year ended June 30, 2023
    Expenses $468,346 · revenue $1,051,125

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025Not on file
2023June 30, 2024November 15, 2024Not on file

IRS record

EIN
62-1008876
Tax-exempt status
501(c)(6): Business league or chamber of commerce
Donations deductible
No
Exempt since
1988
Accounting year ends
June
Files
Form 990 or 990-EZ
Assets (IRS master file)
$1,269,376
Income (IRS master file)
$1,051,125

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2023$1,051,125$494,057$1,269,376XML
990June 2022–––IRS
990June 2021–––IRS
990June 2019–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 62-1008876).

Questions about BLACK BUSINESS ASSOCIATION

What is the EIN of BLACK BUSINESS ASSOCIATION?
The employer identification number (EIN) of BLACK BUSINESS ASSOCIATION is 62-1008876.
Is BLACK BUSINESS ASSOCIATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1988.
Are donations to BLACK BUSINESS ASSOCIATION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does BLACK BUSINESS ASSOCIATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of BLACK BUSINESS ASSOCIATION due?
The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did BLACK BUSINESS ASSOCIATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended June 2023.
Who is the principal officer of BLACK BUSINESS ASSOCIATION?
The 990 for the year ended June 30, 2023 names Alan A Gumbel.
Who are the officers and directors of BLACK BUSINESS ASSOCIATION?
The 990 for the year ended June 30, 2023 lists 5 people; 2 received compensation from the organization, the highest $149,992 (Ernest Strickland, President/CEO).
How much revenue does BLACK BUSINESS ASSOCIATION have?
On its 990 for the year ended June 30, 2023 it reported revenue of $1,051,125, expenses of $494,057 and total assets of $1,269,376 at year end.

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