Nonprofit · EIN 86-3609489
BLACK BUSINESS ENTERPRISES FUND
Tax-exempt · MINNEAPOLIS, MN 55403
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $356,860 | $195,310 | $161,550 | $195,612 | -$36,580 | $232,192 |
| December 31, 2023 | 990-EZ | $175,157 | $124,946 | $50,211 | $76,152 | – | $76,152 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $49,568
- Program service revenue
- $307,292
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Other salaries and wages
- $7,750
- Salaries, compensation and benefits (total)
- $7,750
- Professional fundraising fees
- $0
- Legal fees
- $116
- Occupancy
- $16,285
- Travel
- $1,105
- Program services (functional)
- $79,746
- Management and general (functional)
- $45,050
- Fundraising (functional)
- $70,514
Balance sheet and other
- Total assets, start of year
- $76,152
- Total assets, end of year
- $195,612
- Total liabilities, end of year
- -$36,580
- Net assets, end of year
- $232,192
- Net assets without donor restrictions
- $232,192
- Gross receipts
- $356,860
- Employees
- 0
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 December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Nancy Korsah | CEO Trustee or director | 0 | $0 |
| Tracy Call | Board Chair | 5 | $0 |
| Otis Artis | Board Member | 5 | $0 |
| Charles Wyatt | Board Member | 5 | $0 |
| Jessica Westberg | Board Member | 5 | $0 |
| Christy Loy | Board Member | 5 | $0 |
990-EZ for the year ended December 31, 2023: 1 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Nancy Korsah | CEO | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 1128 HARMON PL STE 200, MINNEAPOLIS, MN 55403-2074
- Principal officer (990 for 2024)
- Nancy Korsah, 1128 Harmon Place suite 200, Minneapolis, MN 55403
- Signed the 990
- Nancy Korsah, President & CEO
- Phone
- (763) 501-4035
- Return prepared by
- Munoz Tax & Accounting Inc
Mission
To help minorities establish their worth to wealth
Program accomplishments
- To help minorities establish their worth to wealthExpenses $79,746
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 December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-EZ on file |
IRS record
- EIN
- 86-3609489
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2022
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Human services (P99)
- Assets (IRS master file)
- $195,612
- Income (IRS master file)
- $356,860
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $356,860 | $195,310 | $195,612 | XML |
| 990-EZ | December 2023 | $175,157 | $124,946 | $76,152 | XML |
| 990 | December 2022 | $349,746 | $346,703 | $3,043 | 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 86-3609489).
Questions about BLACK BUSINESS ENTERPRISES FUND
- What is the EIN of BLACK BUSINESS ENTERPRISES FUND?
- The employer identification number (EIN) of BLACK BUSINESS ENTERPRISES FUND is 86-3609489.
- Is BLACK BUSINESS ENTERPRISES FUND tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to BLACK BUSINESS ENTERPRISES FUND tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does BLACK BUSINESS ENTERPRISES FUND 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 ENTERPRISES FUND due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BLACK BUSINESS ENTERPRISES FUND last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of BLACK BUSINESS ENTERPRISES FUND?
- The 990 for the year ended December 31, 2024 names Nancy Korsah.
- Who are the officers and directors of BLACK BUSINESS ENTERPRISES FUND?
- The 990 for the year ended December 31, 2024 lists 6 people; 0 received compensation from the organization.
- How much revenue does BLACK BUSINESS ENTERPRISES FUND have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $356,860, expenses of $195,310 and total assets of $195,612 at year end.
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