Nonprofit · EIN 90-1179763
247 BLAC
Tax-exempt · WATERLOO, IA 50704
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $454,908 | $461,584 | -$6,676 | $733,873 | $0 | $733,873 |
| December 31, 2023 | 990 | $315,937 | $366,768 | -$50,831 | $743,403 | $2,854 | $740,549 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $367,506
- Program service revenue
- $85,044
- Investment income
- $2,358
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $74,270
- Compensation of officers, directors and key employees
- $100,000
- Salaries, compensation and benefits (total)
- $107,400
- Professional fundraising fees
- $210
- Legal fees
- $10,212
- Accounting fees
- $36,163
- Occupancy
- $4,695
- Travel
- $12,590
- Program services (functional)
- $326,095
- Management and general (functional)
- $134,107
- Fundraising (functional)
- $1,171
Balance sheet and other
- Total assets, start of year
- $743,403
- Total assets, end of year
- $733,873
- Total liabilities, end of year
- $0
- Net assets, end of year
- $733,873
- Net assets without donor restrictions
- $733,873
- Gross receipts
- $454,908
- Employees
- 1
- Volunteers
- 5
- Year formed
- 2021
- State of legal domicile
- IA
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 |
|---|---|---|---|
| SHARINA SALLIS | PRESIDENT Officer | 3 | $0 |
| KINGSLEY BOTCHWAY | TREASURER Officer | 3 | $0 |
| KALOLA ROBY | SECRETARY Officer | 2 | $0 |
| TAVIS HALL | BOARD MEMBER Trustee or director | 1 | $0 |
| TRAVIS FERGUSON | BOARD MEMBER Trustee or director | 1 | $0 |
| LYNN LAGRONE | BOARD MEMBER Trustee or director | 1 | $0 |
| KEYAIRA MILLER | BOARD MEMBER Trustee or director | 1 | $0 |
| ALLEN SPELLER | BOARD MEMBER Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| SHARINA SALLIS | PRESIDENT Officer | 3 | $0 |
| FELICIA SMITH NALLS | VICE PRESIDENT Officer | 2 | $0 |
| KINGSLEY BOTCHWAY | TREASURER Officer | 3 | $0 |
| KALOLA ROBY | SECRETARY Officer | 2 | $0 |
| TRAVIS HALL | BOARD MEMBER Trustee or director | 1 | $0 |
| TRAVIS FERGUSON | BOARD MEMBER Trustee or director | 1 | $0 |
| LYNN LAGRONE | BOARD MEMBER Trustee or director | 1 | $0 |
| KEYAIRA MILLER | BOARD MEMBER Trustee or director | 1 | $0 |
| ALLEN SPELLER | BOARD MEMBER Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 2031, WATERLOO, IA 50704-2031
- In care of
- % MADELYN RIDGEWAY
- Principal officer (990 for 2024)
- Madelyn Ridgeway, PO BOX 2031, WATERLOO, IA 507042031
- Signed the 990
- MADELYN, RIDGEWAY
- Phone
- (319) 427-0314
Mission
COORDINATION OF REDEVELOPMENT EFFORTS
Program accomplishments
- BLACK BUSINESS ENTREPRENEURSHIP ACCELERATOR BBEA Vitality Mastermind Series - In 2024 we launched the Vitality Mastermind Series a focused set of workshops designed to strengthen the skills and confidence of emerging Black entrepreneurs. The series covered essential business topics including goal setting knowing your numbers required tax filings and how to effectively pitch your business. Each session provided practical tools expert guidance and peer support to help entrepreneurs build stronger foundations and prepare for long-term success. This series deepened our impact by offering accessible culturally centered business education outside of our formal accelerator program.Expenses $146,995 · grants $7,900 · revenue $25,000
- PROJECT HOME - In 2024 Project Home a public-private partnership focused on increasing Black homeownership in the Waterloo Cedar Falls IA supported 12 participants in achieving first-time homeownership. The program provided targeted education financial literacy and resources to help participants navigate the home-buying process and secure financing promoting wealth-building and financial stability.Expenses $78,766 · grants $24,000 · revenue $70,888
- PITCH COMPETITION - Vitality Pitch Competition - In 2024 The Vitality Pitch Competition showcased highlighted and supported small businesses in the Cedar Valley. Entrepreneurs who complete the Vitality Business Accelerator present their business concepts to a panel of judges for an opportunity to win seed funding and gain exposure. The competition strengthens our local entrepreneurial ecosystem by providing training visibility and direct financial support to emerging founders.Expenses $100,334 · grants $39,570 · revenue $1,000
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 on file |
IRS record
- EIN
- 90-1179763
- 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
- 2007
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S300)
- Assets (IRS master file)
- $733,873
- Income (IRS master file)
- $454,908
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $315,937 | $366,768 | $743,403 | IRS |
| 990 | December 2022 | $907,172 | $487,176 | $813,445 | IRS |
| 990 | December 2021 | $430,929 | $122,828 | $385,900 | IRS |
| 990-EZ | December 2020 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 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.
Questions about 247 BLAC
- What is the EIN of 247 BLAC?
- The employer identification number (EIN) of 247 BLAC is 90-1179763.
- Is 247 BLAC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2007.
- Are donations to 247 BLAC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does 247 BLAC 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 247 BLAC 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 247 BLAC 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 247 BLAC?
- The 990 for the year ended December 31, 2024 names Madelyn Ridgeway.
- Who are the officers and directors of 247 BLAC?
- The 990 for the year ended December 31, 2024 lists 8 people; 0 received compensation from the organization.
- How much revenue does 247 BLAC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $454,908, expenses of $461,584 and total assets of $733,873 at year end.
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All nonprofits in WATERLOO · Iowa · Community improvement and capacity building