Overview
What is Metro Detroit Black Chamber Of Commerce?
The Metro Detroit Black Chamber of Commerce, established in 2021, emerged in response to the economic challenges faced by Black-owned businesses during the pandemic. With over 80% of Detroit's businesses being Black-owned, the organization recognized the disparities and barriers these businesses encountered, including the digital divide and lack of access to critical resources. To address these issues, the Chamber has a three-pronged strategy: programming, policy, and partnerships. The Capital Connect Program and the Biz Wiz Program are two foundational programs aimed at overcoming the obstacles faced by their members, from obtaining operational licenses to securing funding for scaling. The policy pillar is implemented through the Truth to Power Series, a member-only event that fosters direct conversations with Michigan's elected officials to advocate for policies supporting Black businesses proactively. Lastly, the partnership pillar bridges allied organizations and the Chamber's Black business owners. In essence, the Metro Detroit Black Chamber of Commerce is committed to fostering profitable and sustainable Black-owned businesses by connecting them to economic opportunities and building trusted relationships, while advocating for policies that address the unique challenges these businesses face.
Official website here: www.mdbba.com
Is Metro Detroit Black Chamber Of Commerce legitimate?
Metro Detroit Black Chamber Of Commerce is a legitimate nonprofit organization registered as a 501(c)(6) entity. Metro Detroit Black Chamber Of Commerce 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: $154,400
Professional Fundraising Fees: $0
Other Salaries and Wages: $11,686
For more financial information, click here
Official website here: www.mdbba.com
What is the mission statement of Metro Detroit Black Chamber Of Commerce?
The Metro Detroit Black Chamber of Commerce aims to develop programs and advocate for policies that result in profitable and sustainable Black-owned businesses, connecting them to economic opportunities, while building trusting relationships. Established in 2021, the organization's inception was inspired by the challenges faced by Black entrepreneurs during the COVID-19 pandemic. The organization's strategy is supported by three pillars: programming, policy, and partnerships. Their programming pillar includes initiatives like the Capital Connect Program and Biz Wiz Program, focused on overcoming obstacles for their members, from obtaining operational licenses to securing funding for business growth. The policy pillar is executed through the Truth to Power Series, a member-exclusive event that allows for one-on-one conversations with Michigan's elected officials, aiming to proactively support Black businesses before a crisis occurs. The partnership pillar bridges allied organizations and the chamber's Black business owners.
Official website here: www.mdbba.com
Who is the CEO of Metro Detroit Black Chamber Of Commerce?
Charity Dean is the President And C.E.O. of Metro Detroit Black Chamber Of Commerce.
Official website here: www.mdbba.com
What is the revenue of Metro Detroit Black Chamber Of Commerce?
Metro Detroit Black Chamber Of Commerce's revenue in 2022 was $165,017.
Official website here: www.mdbba.com
Who are the executives of Metro Detroit Black Chamber Of Commerce and what are their salaries?
The average compensation at Metro Detroit Black Chamber Of Commerce during 2022 was $27,681. There are 6 employees and 50 volunteers at Metro Detroit Black Chamber Of Commerce.
Here are 17 key members and their salaries:
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- Compensation: $64,400
- Related: $96,600
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Official website here: www.mdbba.com
Where can I find the form 990 for Metro Detroit Black Chamber Of Commerce?
Metro Detroit Black Chamber Of Commerce's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mdbba.com
Learn more at the official website: www.mdbba.com
Mission Statement of Metro Detroit Black Chamber Of Commerce
The Metro Detroit Black Chamber of Commerce is committed to advancing profitable and sustainable black-owned businesses by advocating for policies that connect them to economic opportunities. Their mission is twofold: firstly, they strive to develop programs that address the unique challenges faced by these businesses; secondly, they advocate for policies that foster an environment conducive to their growth and success. This organization aims to build trusted relationships within the business community, recognizing the critical role of black-owned enterprises in Detroit's economic landscape.
During the pandemic, the disparities faced by black entrepreneurs became increasingly evident. The Metro Detroit Black Chamber of Commerce saw the heightened risks of financial distress among black business owners, with more than half experiencing such challenges compared to white entrepreneurs. Recognizing the digital divide and the lack of access to critical resources, the organization was formed to address these inequities. With over 80% of Detroit's businesses being black-owned, the organization's members have firsthand experience of these challenges, making it their mission to create an inclusive and supportive environment for these businesses.
The organization's strategy is supported by three pillars: programming, policy, and partnerships. The Capital Connect Program and the Biz Wiz Program form the foundation of their programming, addressing the obstacles faced by their members, ranging from obtaining operational licenses to securing funding for growth. Their policy pillar is carried out through the Truth to Power Series, a member-exclusive event that allows one-on-one conversations with elected officials in Michigan, aiming to support black businesses proactively before a crisis occurs. The partnership pillar bridges allied organizations with the organization's black business owners, fostering a network of support and collaboration.
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Impact
October, 2024
The Metro Detroit Black Chamber of Commerce plays a crucial role in fostering profitable and sustainable Black-owned businesses in the region. By launching in 2021, this organization addresses the disparities exacerbated during the COVID-19 pandemic, where a significant number of Black entrepreneurs faced financial distress and business closures. With over 80% of Detroit's businesses being Black-owned, the organization focuses on bridging the gaps in access to resources and economic opportunities.
Their impact is channeled through three primary pillars: programming, policy, and partnerships. The Capital Connect Program and the Biz Wiz Program are instrumental in overcoming the specific challenges faced by members, from securing operational licenses to scaling their businesses. The Truth to Power series fosters direct dialogue with elected officials, enabling business owners to advocate for their needs and strengthen support systems before crises arise.
Through strategic partnerships, the Metro Detroit Black Chamber of Commerce builds essential connections between Black business owners and ally organizations, amplifying collective efforts for community improvement and economic growth. By laying this foundation, the organization not only addresses immediate concerns but also works toward a sustainable future for Black entrepreneurship in Metro Detroit.
This information is meant to be a general summary of Metro Detroit Black Chamber Of Commerce. 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: $73
- Program Service Revenue: $19,612
- Gross Receipts: $165,017
Assets and Liabilities:
- Total Assets: $826,426
- Total Liabilities: $196,097
- Net Assets: $630,329
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM FEES
Revenue
$19,612
Organization Details
Founding Year
2020
Phone
(313) 717-8397Principal Officer
Charity Dean
Main Address
1234 WASHINGTON BOULEVARD, DETROIT, MI, 482261894
Website
www.mdbba.comNTEE Category
Code: S41 - Community improvement
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