Overview
What is Black Owned And Operated Community Land Trust Inc?
Black Owned and Operated Community Land Trust Inc is a nonprofit organization that focuses on empowering underprivileged entrepreneurs in the fashion and product development sectors. They provide a retail space where these designers and developers operate as cooperative members, selling their products within the space. With a membership of 60 individuals and their families, this cooperative aims to support and uplift these entrepreneurs, offering them a platform to showcase and sell their creations. The organization's mission is to foster economic growth and opportunities within the community.
Is Black Owned And Operated Community Land Trust Inc legitimate?
Black Owned And Operated Community Land Trust Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Black Owned And Operated Community Land Trust 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $150,869
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What is the mission statement of Black Owned And Operated Community Land Trust Inc?
Black Owned and Operated Community Land Trust Inc's mission revolves around supporting underprivileged entrepreneurs. They achieve this by establishing a cooperative retail space where fashion designers and product developers can showcase and sell their products. This cooperative, housing 60 individuals and their families, serves as a platform that fosters entrepreneurship among those who might otherwise struggle to establish a business presence. By providing this opportunity, Black Owned and Operated Community Land Trust Inc is contributing to the empowerment and success of underprivileged entrepreneurs.
What is the revenue of Black Owned And Operated Community Land Trust Inc?
Black Owned And Operated Community Land Trust Inc's revenue in 2023 was $279,170.
Who are the executives of Black Owned And Operated Community Land Trust Inc and what are their salaries?
The average compensation at Black Owned And Operated Community Land Trust Inc during 2023 was $50,290. There are 3 employees and 11 volunteers at Black Owned And Operated Community Land Trust Inc.
Here are 5 key members and their salaries:
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Where can I find the form 990 for Black Owned And Operated Community Land Trust Inc?
Black Owned And Operated Community Land Trust Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Black Owned And Operated Community Land Trust Inc
Black Owned and Operated Community Land Trust Inc's mission is centered around supporting underprivileged entrepreneurs. This nonprofit organization implements a unique program that brings together fashion designers and product developers, allowing them to operate as a cooperative within a retail space. By becoming members of this cooperative, these individuals can showcase and sell their products within the retail space, providing a platform for them to grow their businesses. This cooperative currently supports a community of 60 individuals and their families, thereby contributing to the empowerment and upliftment of underprivileged entrepreneurs.
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Impact
October, 2024
Black Owned And Operated Community Land Trust Inc significantly impacts the local economy and community by creating a retail space that empowers underprivileged entrepreneurs. By engaging fashion designers and product developers as cooperative members, it fosters a collaborative environment where individuals can collectively sell their products, expanding their reach and economic viability. The initiative directly supports 60 individuals and their families, enhancing their financial stability and promoting diversity in the fashion industry.
This program not only provides a platform for creativity and entrepreneurship but also cultivates a sense of community among members, allowing them to share resources, knowledge, and opportunities. In doing so, it helps to uplift marginalized voices within the retail sector, ultimately contributing to economic equity and social justice in Los Angeles. The focus on supporting underrepresented entrepreneurs positions this initiative as a critical player in fostering both entrepreneurship and community resilience.
This information is meant to be a general summary of Black Owned And Operated Community Land Trust 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 2023.
- Investment Income: $33
- Program Service Revenue: $169,430
- Gross Receipts: $417,029
Assets and Liabilities:
- Total Assets: $343,822
- Total Liabilities: $0
- Net Assets: $343,822
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
A program that engages fashion designers and product developers as co-operative members who sale the
Revenue
$169,430
Organization Details
Founding Year
2017
Principal Officer
Tommy Johnson
NTEE Category
Code: P20 - Human services
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