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Bronze Valley Foundation FY2021 filing

Tax-deductible

Birmingham, AL501(c)(3)Education EIN 46-3600776Revenue $165K in FY2021

On file with the IRSfoundationforprogressinjournalism.org115 3rd Ave W, 35204-4114 · Birmingham, ALTax-exempt since Sep 2013Publicly supported charity — 170(b)(1)(A)(vi)

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The Bronze Valley Foundation has a mission of expanding access, exposure, and entry to communities of people that are underrepresented in media, technology, and entrepreneurship. The organization provides resources in the form of internships, fellowships, and programming which skills and upskills aspiring journalists, technologists, and entrepreneurs as they shape the world of tomorrow.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average surplus $6K a year · 3% of revenue · last 5 filings
Worth a look: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Plus $171K in investments, Pt X · Ln 11–13
Looks good: 4.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $250K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$165K
×11000 vs prior year
Spent
$169K
To programs
97%
Net assets
$236K
By yearFY2020–FY2024
Revenue
$165K
FY2021▲ ×11000
Tap a bar for its year
Revenue by fiscal year
FY2020$15
FY2021$165K
FY2022$30K
FY2023$276K
FY2024$699K
Expenses
$169K
FY2021▲ ×34
Tap a bar for its year
Expenses by fiscal year
FY2020$5K
FY2021$169K
FY2022$31K
FY2023$276K
FY2024$657K
Net assets
$236K
FY2021▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2020$241K
FY2021$236K
FY2022$235K
FY2023$235K
FY2024$277K

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2013.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $165K Management & general 3% · $4K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation
John O Hudson III
Director, Chair of the Boa
$0Pt VII · Sec A
Brian Hamilton
Director, President
$0Pt VII · Sec A
Lamell McMorris
Board Member
$0Pt VII · Sec A
George French
Board Member
$0Pt VII · Sec A
Robert L Blalock
Secretary, Treasurer
$0Pt VII · Sec A
Samuel Martin
Executive Director
$0Pt VII · Sec A
See Bronze Valley Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Connects underrepresented people with media, tech, and entrepreneurship opportunities through internships and programs.

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Provided by the organization

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1 program · $165K · in their own filed words · FY2021
01

The foundation has participated in an internship program with two newspapers and provided grants to not-for-profit entities in support of minority innovation in technololy fields.

$165Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Jpmorgan Chase FoundationFY2024$250K
Total grants receivedfrom 1 funder$250K
Grants paid · 4 grants · $1.1M · 2021–2024
Bronze Valley CorpAL · FY2024$652,500
Bronze Valley CorpAL · FY2023$275,954
Bronze Valley CorpAL · FY2022$27,500
Bronze Valley CorpAL · FY2021$165,000

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$165K
Ln 12
Gifts and grantsLn 1h$165K
Money outPt IX
$169K
Ln 25
Programscol B$165K
Managementcol C$4K
Owns and owesPt X
$236K
net assets · Ln 32
Cash and savingsLn 1–2$65K
Total assetsLn 16$236K
LiabilitiesLn 26$0
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$165K
Total revenueLn 12$165K
Assets in detailPt X, end of year
CashLn 1$65K
Cash and savings togetherLn 1–2$65K
InvestmentsLn 11–13$171K
Total assetsLn 16$236K
LiabilitiesLn 26$0
Net assetsLn 32$236K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$70K$65K
InvestmentsLn 11–13$171K$171K
Total assetsLn 16$241K$236K
LiabilitiesLn 26$0$0
Net assetsLn 32$241K$236K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$165K$165K
Accounting feesLn 11c$4K$4K
Office expensesLn 13$437$437
Other expenses (24a–d)Ln 24$494$494
Total functional expensesLn 25$169K$165K$4K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $699K$657K$42K$277K 990 PDF
FY2023 $276K$276K−$903$235K 990 PDF
FY2022 $30K$31K−$912$235K 990 PDF
FY2021 Viewing $165K$169K−$4K$236K 990 PDF
FY2020 $15$5K−$5K$241K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $165,000 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$165,000
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $0$165,000
I-13 Grants and similar amounts paidPrior year $0$165,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $0$4,431
I-18 Total expensesPrior year $0$169,431
I-19 Revenue less expensesPrior year $0−$4,431
Part VI · Governance 5 of 5 board members independent, 2 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $165,000 across 3 lines filed
VIII-1f All other contributions, gifts and grants$165,000
VIII-1h Total contributions, gifts and grants$165,000
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$165,000
Part IX · Statement of functional expenses $169,431 across 4 lines filed
IX-1 Grants to domestic organizationsPrograms $165,000$165,000
IX-11c Accounting feesManagement $3,500$3,500
IX-13 Office expensesManagement $437$437
IX-24 Other expenses (24a–d)Management $494$494
IX-25 Total functional expensesPrograms $165,000 · Management $4,431 · Fundraising $0$169,431
Part X · Balance sheet $236,404 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $69,535$65,104
X-13 Program-related investmentsStart of year $171,300$171,300
X-16 Total assetsStart of year $240,835$236,404
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $240,835$236,404
X-33 Total liabilities and net assetsStart of year $240,835$236,404
Part XI · Reconciliation of net assets $236,404 net assets at year end
XI-1 Total revenue$165,000
XI-2 Total expenses$169,431
XI-3 Revenue less expenses−$4,431
XI-4 Net assets at start of year$240,835
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$236,404

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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