Overview
What is Blackfem Inc?
Blackfem Inc is a nonprofit organization located in Germantown, Maryland, with a mission to address financial trauma within the Black community. Their holistic approach involves engaging with cultural institutions, education systems, policymaking bodies, and families. By utilizing research-based methods, Blackfem Inc creates curriculums, conducts trainings, and develops programs to combat the root causes of financial inequality. Their goal is to improve the wealth-building capacity of their target communities and challenge biases within local institutions and policies. Blackfem Inc collaborates with progressive governmental bodies and activists to redefine wealth-building opportunities for Black women. The organization has a workforce of five dedicated individuals.
Official website here: www.blackfem.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84% (Three-Star out of Four Star rating)
Blackfem Inc has earned a respectable Three-Star rating from Charity Navigator, reflecting a solid overall performance in accountability and finance. With a score of 83% in this area, the organization demonstrates strong governance practices, featuring a fully independent board and effective financial management. Key metrics include no material diversion of assets and a high program expense ratio of 78.81%, indicating a commitment to directing funds towards its mission.
In terms of culture and community impact, Blackfem Inc received an impressive score of 98%. This suggests strong engagement with constituents and effective feedback mechanisms, as evidenced by perfect scores in areas such as feedback collection and usage. The organization actively seeks to understand the needs and challenges faced by those it serves, which enhances its effectiveness and responsiveness.
While Blackfem Inc has shown considerable strengths in governance and community engagement, potential limitations are not explicitly noted in the available data. The overall high scores across various metrics indicate a well-managed organization that prioritizes accountability and community input.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Blackfem Inc?
100% of 11 reviewers on Facebook recommend BlackFem Inc. Here is a summary of their reviews:
The sentiment towards BlackFem Inc is overwhelmingly positive, with users expressing deep appreciation for the resources and support provided. Many feel that the organization significantly boosts their confidence in financial decision-making, suggesting that the programs are effective and valuable to young women.
Overall, participants seem to believe that BlackFem Inc genuinely fulfills its mission and offers services that many women can benefit from. The strong recommendation rate indicates a high level of satisfaction with the nonprofit's initiatives.
This AI summary has been generated from reviews found on Facebook.
Is Blackfem Inc legitimate?
Blackfem Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Blackfem 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: $92,708
Professional Fundraising Fees: $0
Other Salaries and Wages: $198,142
For more financial information, click here
Official website here: www.blackfem.org
What is the mission statement of Blackfem Inc?
Blackfem Inc partners with forward-thinking governmental bodies and activists to reimagine wealth-building opportunities for Black women. Their mission is to address key areas of influence such as cultural institutions, education systems, policymaking, and families, with a holistic, research-backed approach to healing financial trauma. Their curriculum, trainings, and programs aim to make progress against the root causes of financial inequality in their target communities, improving their wealth-building capacity and reshaping local institutions and policies to undo bias.
Official website here: www.blackfem.org
Who is the CEO of Blackfem Inc?
Chloe Mckenzie is the Executive Director of Blackfem Inc.
Official website here: www.blackfem.org
What is the revenue of Blackfem Inc?
Blackfem Inc's revenue in 2022 was $731,604.
Official website here: www.blackfem.org
Who are the executives of Blackfem Inc and what are their salaries?
The average compensation at Blackfem Inc during 2022 was $58,170. There are 5 employees at Blackfem Inc.
Here are 4 key members and their salaries:
- Compensation: $131,182
- 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.blackfem.org
Where can I find the form 990 for Blackfem Inc?
Blackfem Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.blackfem.org
Learn more at the official website: www.blackfem.org
Mission Statement of Blackfem Inc
Blackfem Inc, an organization dedicated to wealth building opportunities for Black women, collaborates with forward-thinking governmental bodies and activists. Their mission is to reimagine and reinvent these opportunities, addressing key areas of influence such as cultural institutions, education systems, policymaking, and families. Blackfem Inc employs a holistic, research-backed approach to healing financial trauma. Their curriculum, trainings, and programs aim to make progress against the root causes of financial inequality in their target communities, ultimately improving the wealth-building capacity of these communities. By reshaping local institutions and policies, Blackfem Inc seeks to undo bias in existing systems, thereby enabling a more equitable financial landscape for Black women.
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Impact
July, 2024
Blackfem Inc partners with governmental bodies and activists to reimagine wealth-building opportunities for Black women. They address key areas of influence such as cultural institutions, education systems, policymaking, and families. Through a holistic, research-backed approach to healing financial trauma, Blackfem's curriculum, trainings, and programs help make progress against the root causes of financial inequity in their target communities. They work to improve wealth-building capacity and undo bias in systems by reshaping local institutions and policies.
This information is meant to be a general summary of Blackfem 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.
- Program Service Revenue: $731,604
- Gross Receipts: $731,604
Assets and Liabilities:
- Total Assets: $424,143
- Total Liabilities: $4,499
- Net Assets: $419,644
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FINANCIAL EDUCATION
Revenue
$731,604
Organization Details
Founding Year
2015
Principal Officer
Chloe Mckenzie
Main Address
21030G FREDERICK ROAD, GERMANTOWN, MD, 20876
Website
www.blackfem.orgNTEE Category
Code: P80 - Human services
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