Blackfem INC FY2020 filing

Tax-deductible

Damascus, MD501(c)(3)Since 2015Human ServicesEIN 47-5331017Revenue $181K in FY2020

On file with the IRS6 Puritan CT, 20872-2921 · Damascus, MDTax-exempt since Jun 2016Publicly supported charity — 170(b)(1)(A)(vi)

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Blackfem partners with the nation's most forward-thinking governmental bodies and activists to reimagine wealth building opportunities for black women.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$44K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2020 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $67K a year · 9% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$44K
to officers and key staff · 27% of spending
Worth a look: pay to officers and key staff is 27% of spending; over 20%.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $86K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$8K
13% of total assets
Looks good: liabilities are 13% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$181K
Spent
$167K
To programs
84%
Net assets
$54K
By yearFY2020–FY2025
Revenue
$181K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$181K
FY2022$619K
FY2022$732K
FY2023$535K
FY2024$983K
FY2025$1.3M
Expenses
$167K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$167K
FY2022$580K
FY2022$351K
FY2023$881K
FY2024$545K
FY2025$1.1M
Net assets
$54K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$54K
FY2022$156K
FY2022$420K
FY2023$68K
FY2024$498K
FY2025$688K

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2016.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $140K Management & general 15% · $25K Fundraising 2% · $3K

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

4 people listed on the 990; $44K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Founder/CEO
$44,434Pt VII · Sec A
Director
$0Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A

Chloe McKenzie’s $250K as Executive Dir. is at the 100th percentile of top reported officer pay among 2168 $100K–1M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2022FY2022FY2020
Chloe McKenzie$250,417$262,566$131,182$192,373$44,434
John Watts$74,667$75,231———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Reimagines wealth-building for Black women with governments and activists.

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Provided by the organization

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1 program · $140K · in their own filed words · FY2019
01

Provide financial literacy curriculum to students in pre-k, elementary, middle and high school. Provide programming and resources to teachers, families and administrators.

$140Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$86K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$181K
Ln 12
Gifts and grantsLn 1h$142K
Fees for servicesLn 2g$40K
Money outPt IX
$167K
Ln 25
Programscol B$140K
Managementcol C$25K
Fundraisingcol D$3K
Owns and owesPt X
$54K
net assets · Ln 32
Cash and savingsLn 1–2$58K
Total assetsLn 16$62K
LiabilitiesLn 26$8K
PeoplePt VI, VII
4
listed · VII A
PaidVII A1
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$142K
Fees for servicesLn 2g$40K
Total revenueLn 12$181K
Assets in detailPt X, end of year
CashLn 1$58K
Cash and savings togetherLn 1–2$58K
Other assetsLn 15$4K
Total assetsLn 16$62K
LiabilitiesLn 26$8K
Net assetsLn 32$54K
OperationsPt I, VI
EmployeesI 55
Fiscal year endsHeaderJune
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 FY20End FY20
Cash and savingsLn 1–2$49K$58K
Total assetsLn 16$53K$62K
LiabilitiesLn 26$14K$8K
Net assetsLn 32$40K$54K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$44K$36K$7K$2K
Payroll taxesLn 10$4K$3K$586$147
Advertising and promotionLn 12$7K$6K$1K
Office expensesLn 13$6K$5K$1K$252
Information technologyLn 14$14K$11K$3K
OccupancyLn 16$12K$9K$2K$461
TravelLn 17$8K$7K$2K
InterestLn 20$3K$2K$553
Depreciation, depletion and amortizationLn 22$80$80
Other expenses (24a–d)Ln 24$63K$58K$5K
All other expensesLn 24e$6K$3K$3K
Total functional expensesLn 25$167K$140K$25K$3K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.3M$1.1M$190K$688K 990 PDF
FY2024 $983K$545K$439K$498K 990 PDF
FY2023 $535K$881K−$346K$68K 990 PDF
FY2022 $619K$580K$39K$156K 990 PDF
FY2021 Not on file
FY2020 Viewing $181K$167K$14K$54K 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 FY2020 990 (6 parts)
Part I · Summary $181,339 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $316,866$141,793
I-9 Program service revenuePrior year $30,302$39,546
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $347,168$181,339
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $176,332$48,097
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $164,518$118,827
I-18 Total expensesPrior year $340,850$166,924
I-19 Revenue less expensesPrior year $6,318$14,415
Part VI · Governance 4 of 4 board members independent, 1 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $181,339 across 4 lines filed
VIII-1f All other contributions, gifts and grants$141,793
VIII-1h Total contributions, gifts and grants$141,793
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $39,546$39,546
VIII-12 Total revenueRelated to mission $39,546$181,339
Part IX · Statement of functional expenses $166,924 across 11 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $35,547 · Management $7,109 · Fundraising $1,777$44,433
IX-10 Payroll taxesPrograms $2,931 · Management $586 · Fundraising $147$3,664
IX-12 Advertising and promotionPrograms $5,517 · Management $1,379$6,896
IX-13 Office expensesPrograms $5,047 · Management $1,010 · Fundraising $252$6,309
IX-14 Information technologyPrograms $10,945 · Management $2,737$13,682
IX-16 OccupancyPrograms $9,209 · Management $1,842 · Fundraising $461$11,512
IX-17 TravelPrograms $6,686 · Management $1,671$8,357
IX-20 InterestPrograms $2,210 · Management $553$2,763
IX-22 Depreciation, depletion and amortizationPrograms $80$80
IX-24 Other expenses (24a–d)Programs $58,202 · Management $4,897$63,099
IX-24e All other expensesPrograms $3,341 · Management $2,788$6,129
IX-25 Total functional expensesPrograms $139,715 · Management $24,572 · Fundraising $2,637$166,924
Part X · Balance sheet $62,264 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $49,201$58,173
X-15 Other assetsStart of year $4,091$4,091
X-16 Total assetsStart of year $53,372$62,264
X-26 Total liabilitiesStart of year $13,580$8,057
X-27 Net assets without donor restrictionsStart of year $39,792$54,207
X-32 Total net assets or fund balancesStart of year $39,792$54,207
X-33 Total liabilities and net assetsStart of year $53,372$62,264
Part XI · Reconciliation of net assets $54,207 net assets at year end
XI-1 Total revenue$181,339
XI-2 Total expenses$166,924
XI-3 Revenue less expenses$14,415
XI-4 Net assets at start of year$39,792
XI-10 Net assets at end of year$54,207

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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