Overview
What is Black Business Investment Fund Inc?
Black Business Investment Fund Inc, located in Orlando, Florida, is a nonprofit organization committed to fostering the growth of Black-owned businesses. In the past fiscal year, they have strengthened their support by implementing new technology, expanding geographically, and offering innovative business development programs. With a focus on underserved communities, they approved loans and New Markets Tax Credits totaling $46.6 million, leading to the creation of over 980 jobs. Their mission encompasses education, training, lending, investments, and advocacy, aiming to create an environment that encourages the prosperity of Black business enterprises. Their specialized financial technical assistance program has reached over 4000 business owners, demonstrating their dedication to helping entrepreneurs succeed.
Official website here: www.bbifflorida.com
What do the Facebook reviews say about Black Business Investment Fund Inc?
While the Black Business Investment Fund Inc currently has no official ratings, there are several insights gleaned from the reviews provided. The organization is praised for its dedication to offering training and access to capital tailored specifically for small businesses. Reviewers have expressed appreciation for these services, highlighting their importance in supporting entrepreneurship within the community.
The emphasis on small business growth and development appears to resonate well with those who have interacted with the fund, indicating a positive sentiment towards its mission. Users recognize the potential benefits of the training programs and funding opportunities available, which suggests a strong belief in the value the nonprofit aims to deliver.
Overall, the feedback reflects an optimistic viewpoint towards the initiatives of the Black Business Investment Fund Inc, suggesting that it effectively addresses the needs of small business owners seeking guidance and financial support.
This AI summary has been generated from reviews found on Facebook.
Is Black Business Investment Fund Inc legitimate?
Black Business Investment Fund Inc is a legitimate nonprofit organization registered as a 501(c)(4) entity. Black Business Investment Fund 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: $738,297
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,196,858
For more financial information, click here
Official website here: www.bbifflorida.com
What is the mission statement of Black Business Investment Fund Inc?
Black Business Investment Fund Inc's mission is centered around the development and promotion of Black-owned businesses. They achieve this through various means, including education, training, providing loans and investments, and actively fostering an environment that encourages their growth. The organization is also committed to aggressively establishing conditions that are beneficial for the development of these enterprises. In the recent fiscal year, they have further strengthened their dedication to supporting BIPOC entrepreneurs and underserved communities by implementing new technology infrastructure, expanding geographically, and introducing innovative business development programs. Their financial solutions, such as business loans and New Markets Tax Credits, have resulted in the creation of over 980 new jobs, demonstrating their unwavering commitment to helping entrepreneurs achieve their goals.
Official website here: www.bbifflorida.com
Who is the CEO of Black Business Investment Fund Inc?
Duane Lewis is the Chief Operating Officer of Black Business Investment Fund Inc. The CEO's salary of Black Business Investment Fund Inc is $442,975 and their total compensation is $442,975.
Official website here: www.bbifflorida.com
What is the revenue of Black Business Investment Fund Inc?
Black Business Investment Fund Inc's revenue in 2022 was $5,545,494.
Official website here: www.bbifflorida.com
Who are the executives of Black Business Investment Fund Inc and what are their salaries?
The average compensation at Black Business Investment Fund Inc during 2022 was $84,137. There are 23 employees at Black Business Investment Fund Inc.
Here are 10 key members and their salaries (Black Business Investment Fund Inc's CEO's salary is $442,975 and their total compensation is $442,975):
- Compensation: $442,975
- Related: $0
- Other: $0
- Compensation: $150,345
- Related: $0
- Other: $0
- Compensation: $144,977
- Related: $0
- Other: $0
- Compensation: $117,708
- Related: $0
- Other: $0
- Compensation: $106,590
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- 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.bbifflorida.com
Where can I find the form 990 for Black Business Investment Fund Inc?
Black Business Investment Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bbifflorida.com
Learn more at the official website: www.bbifflorida.com
Mission Statement of Black Business Investment Fund Inc
Black Business Investment Fund Inc, in its mission, aims to foster and propel the growth of Black business enterprises. It accomplishes this through various strategies, such as providing education and training, offering loans, making investments, and actively advocating for an environment that supports their development. The organization is passionate about creating an atmosphere that encourages the flourishing of these businesses, thereby contributing to their success and job creation.
During the recent fiscal year, Black Business Investment Fund Inc furthered its dedication to serving BIPOC entrepreneurs and underserved communities. Some of the initiatives introduced included the adoption of advanced technology infrastructure, geographical expansion, and the development of innovative business growth programs. These efforts resulted in the approval of $46.6 million in business loans and New Markets Tax Credits (NMTC), leading to the creation of over 980 new jobs. This commitment to financial support and technical assistance reflects Black Business Investment Fund Inc's unwavering dedication to helping business owners achieve their goals and prosper.
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Impact
October, 2024
Black Business Investment Fund Inc (BBIF) has made a significant impact on the development of Black business enterprises through targeted initiatives and financial support. In fiscal year 2021-22, BBIF reinforced its commitment to serving BIPOC entrepreneurs and underserved communities by implementing key initiatives, including technological advancements, geographical expansion, and innovative business development programs.
Through its specialized financial technical assistance program, BBIF processed and approved $46.6 million in business loans and New Markets Tax Credits (NMTC). This funding not only provided crucial financial resources to business owners but also facilitated the creation of over 980 new jobs in the community.
BBIF reached over 4,030 business owners, providing them with the tools and support necessary for success. Its unwavering dedication to promoting an environment conducive to the growth of Black businesses has helped equip business owners with the knowledge and resources they need to thrive, driving community improvement and economic empowerment in Orlando, Florida, and beyond.
This information is meant to be a general summary of Black Business Investment Fund 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: $2,905
- Program Service Revenue: $3,915,564
- Gross Receipts: $5,545,494
Assets and Liabilities:
- Total Assets: $34,553,467
- Total Liabilities: $21,713,845
- Net Assets: $12,839,622
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN ORIGINATION AND SERVICING FEES
Revenue
$512,263
LOAN INTEREST INCOME
Revenue
$513,667
NEW MARKET TAX CREDIT
Revenue
$2,496,733
OTHER MISC INCOME
Revenue
$392,901
Organization Details
Founding Year
1987
Phone
(407) 649-4780Principal Officer
Duane Lewis
Main Address
301 EAST PINE STREET, ORLANDO, FL, 32801
Website
www.bbifflorida.comNTEE Category
Code: S43 - Community improvement
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