Overview
What is Center For Black Innovation Inc?
The Center For Black Innovation Inc, located at 937 NW 3rd Ave, Miami, FL 33136, is a nonprofit organization with a mission to bridge the racial wealth gap. They strive to enhance financial success for Black business owners and expand job opportunities for Black job seekers. To accomplish this, they focus on exposing individuals to innovation pathways, fostering the growth of Black innovation ecosystems, and implementing data-driven policies to promote diversity within existing ecosystems. In collaboration with CFBI, Career Source, Argos Applied Intelligence, and Miami Dade College, they offer a 160-hour comprehensive cybersecurity training program, known as the CFBI Cyber Warrior Program. This initiative targets a diverse age range, aiming to prepare participants for roles in cybersecurity and promote inclusivity and empowerment within the tech industry. The Center For Black Innovation Inc currently employs a team of 7 individuals.
Official website here: www.cfbi.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
The Center For Black Innovation Inc has received a commendable Four-Star rating from Charity Navigator, reflecting a high level of accountability and financial health. The charity's overall score, based entirely on a single beacon score, highlights its strong governance and financial practices, with a perfect score of 100% in Accountability & Finance for the most recent fiscal year (FY2022).
Strengths of the organization include a fully independent board, effective financial oversight, and robust policies regarding conflicts of interest and whistleblowing. The charity has demonstrated transparency in its operations, with proper documentation of board meeting minutes and a favorable liabilities-to-assets ratio of 19.39%. Additionally, a significant portion of its expenses, 79.72%, is allocated directly to programs, indicating a commitment to its mission.
While the overall data reflects a strong foundation, it is essential for potential donors and supporters to recognize that the rating is solely based on financial and governance metrics. Therefore, while the charity excels in these areas, further qualitative insights into its programs and community impact may provide a more comprehensive understanding of its effectiveness in serving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Center For Black Innovation Inc legitimate?
Center For Black Innovation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Center For Black Innovation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $180,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $195,119
For more financial information, click here
Official website here: www.cfbi.org
What is the mission statement of Center For Black Innovation Inc?
The Center for Black Innovation Inc's mission is focused on addressing the racial wealth gap. They aim to achieve this by boosting the revenue of Black business owners and enhancing employment opportunities for Black job seekers. This is accomplished through various means, including showcasing innovation pathways, fostering the growth of Black innovation ecosystems, and implementing evidence-based policies to promote diversity within existing systems.
Official website here: www.cfbi.org
Who is the CEO of Center For Black Innovation Inc?
Derick Pearson is the Ceo of Center For Black Innovation Inc. The CEO's salary of Center For Black Innovation Inc is $90,000 and their total compensation is $90,000.
Official website here: www.cfbi.org
What is the revenue of Center For Black Innovation Inc?
Center For Black Innovation Inc's revenue in 2022 was $1,384,302.
Official website here: www.cfbi.org
Who are the executives of Center For Black Innovation Inc and what are their salaries?
The average compensation at Center For Black Innovation Inc during 2022 was $53,588. There are 7 employees and 10 volunteers at Center For Black Innovation Inc.
Here are 5 key members and their salaries (Center For Black Innovation Inc's CEO's salary is $90,000 and their total compensation is $90,000):
- Compensation: $90,000
- Related: $0
- Other: $0
- Compensation: $90,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.cfbi.org
Where can I find the form 990 for Center For Black Innovation Inc?
Center For Black Innovation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cfbi.org
Learn more at the official website: www.cfbi.org
Mission Statement of Center For Black Innovation Inc
The Center for Black Innovation Inc is committed to eliminating the racial wealth gap. They accomplish this by boosting the financial success of Black business owners and expanding employment possibilities for Black job seekers. This mission is carried out through various strategies, including exposing individuals to innovation pathways, fostering the growth of Black innovation ecosystems, and implementing data-driven policies to diversify existing systems.
In essence, the Center for Black Innovation Inc aims to level the playing field in the business world, ensuring that Black entrepreneurs and job seekers have equal opportunities to thrive and succeed. By focusing on innovation and policy changes, the organization seeks to break down the barriers that have historically hindered Black progress in the economic sphere.
As part of their mission, the Center for Black Innovation Inc has launched the CFBI Cyber Warrior Program in partnership with several other organizations. This comprehensive 160-hour curriculum focuses on CompTIA's Network and Security courses, preparing participants for roles in cybersecurity. The program is designed to be inclusive and empowering, welcoming a diverse range of ages and backgrounds. By equipping individuals with the skills needed to excel in the tech industry, the Center for Black Innovation Inc is working towards a future where Black talent is valued and represented at all levels of the tech sector.
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Impact
July, 2024
The Center For Black Innovation Inc's impact includes preparing participants for roles in cybersecurity through a comprehensive 160-hour curriculum focusing on CompTIA's Network and Security courses. The program emphasizes inclusivity and empowerment in the tech industry, with a mission to eliminate the racial wealth gap by increasing opportunities for Black business owners and job seekers. Their efforts aim to scale Black innovation ecosystems, provide exposure to innovation pathways, and implement data-driven policies to diversify existing ecosystems, ultimately contributing to youth development and economic empowerment in Miami, FL.
This information is meant to be a general summary of Center For Black Innovation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $537,735
- Program Service Revenue: $35,306
- Gross Receipts: $1,446,583
Assets and Liabilities:
- Total Assets: $1,357,596
- Total Liabilities: $263,480
- Net Assets: $1,094,116
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Community Events
Revenue
$35,306
Organization Details
Founding Year
2014
Phone
(305) 482-1832Principal Officer
Derick Pearson
Main Address
937 NW 3rd Ave, Miami, FL, 331363305
Website
www.cfbi.orgNTEE Category
Code: O50 - Youth development
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