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Bronze Valley Foundation FY2022 filing

Tax-deductible

Birmingham, AL501(c)(3)EducationEIN 46-3600776Revenue $30K in FY2022

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.
88¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
25 mo
of spending, in cash
Looks good: 24.6 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
$30K
-82% vs prior year
Spent
$31K
To programs
88%
Net assets
$235K
By yearFY2020–FY2024
Revenue
$30K
FY2022▼ -82%
Tap a bar for its year
Revenue by fiscal year
FY2020$15
FY2021$165K
FY2022$30K
FY2023$276K
FY2024$699K
Expenses
$31K
FY2022▼ -82%
Tap a bar for its year
Expenses by fiscal year
FY2020$5K
FY2021$169K
FY2022$31K
FY2023$276K
FY2024$657K
Net assets
$235K
FY2022-0.4%
Tap a bar for its year
Net assets by fiscal year
FY2020$241K
FY2021$236K
FY2022$235K
FY2023$235K
FY2024$277K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 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

88 cents of each dollar spent went to programs.

Program services 88% · $28K Management & general 12% · $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 · $28K · in their own filed words · FY2022
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.

$28Kprogram 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 FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$30K
Ln 12
Gifts and grantsLn 1h$30K
Money outPt IX
$31K
Ln 25
Programscol B$28K
Managementcol C$4K
Owns and owesPt X
$235K
net assets · Ln 32
Cash and savingsLn 1–2$64K
Total assetsLn 16$235K
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$30K
Total revenueLn 12$30K
Assets in detailPt X, end of year
CashLn 1$64K
Cash and savings togetherLn 1–2$64K
InvestmentsLn 11–13$171K
Total assetsLn 16$235K
LiabilitiesLn 26$0
Net assetsLn 32$235K
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 FY22End FY22
Cash and savingsLn 1–2$65K$64K
InvestmentsLn 11–13$171K$171K
Total assetsLn 16$236K$235K
LiabilitiesLn 26$0$0
Net assetsLn 32$236K$235K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$28K$28K
Accounting feesLn 11c$4K$4K
Office expensesLn 13$332$332
Total functional expensesLn 25$31K$28K$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 Viewing $30K$31K−$912$235K 990 PDF
FY2021 $165K$169K−$4K$236K 990 PDF
FY2020 $15$5K−$5K$241K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $30,420 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $165,000$30,420
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 $165,000$30,420
I-13 Grants and similar amounts paidPrior year $165,000$27,500
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 $4,431$3,832
I-18 Total expensesPrior year $169,431$31,332
I-19 Revenue less expensesPrior year −$4,431−$912
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 $30,420 across 3 lines filed
VIII-1f All other contributions, gifts and grants$30,420
VIII-1h Total contributions, gifts and grants$30,420
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$30,420
Part IX · Statement of functional expenses $31,332 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $27,500$27,500
IX-11c Accounting feesManagement $3,500$3,500
IX-13 Office expensesManagement $332$332
IX-25 Total functional expensesPrograms $27,500 · Management $3,832 · Fundraising $0$31,332
Part X · Balance sheet $235,492 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $65,104$64,192
X-13 Program-related investmentsStart of year $171,300$171,300
X-16 Total assetsStart of year $236,404$235,492
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $236,404$235,492
X-33 Total liabilities and net assetsStart of year $236,404$235,492
Part XI · Reconciliation of net assets $235,492 net assets at year end
XI-1 Total revenue$30,420
XI-2 Total expenses$31,332
XI-3 Revenue less expenses−$912
XI-4 Net assets at start of year$236,404
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$235,492

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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