Global Economic Diversity Developme EIN 82-0826628

Global Economic Diversity Developme

EIN  82-0826628 Public charity (501(c)(3)) Louisville, KY
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Empowers Black communities through job training, business growth, and financial education.
Leadership
Cordelia Donovan · Board Member
Money in and out
$497K revenue, $366K expenses
Bottom line
65% program efficiency

Empowers Black communities through job training, business growth, and financial education. For fiscal year 2021 it reported $497K in revenue, $366K in expenses, and $223K in net assets.Pt I

Where the money goes · FY2021
Total revenue
$497K
Pt VIII · Ln 12
Total expenses
$366K
Pt IX · Ln 25
Net assets
$223K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $131K
Where spending went · Part IX cols B–D
Program services $0.65 Management & general $0.35
Program efficiency
65%
of spending reaches programs
Operating runway
7.0mo
months of highly liquid reserves at operating expense rate▲ +21% vs prior filing year
Surplus margin
+26%
revenue over expenses, this year▲ +765% vs prior filing year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$497K
FY2021▲ +506%
Total revenue
$497K
Pt VIII · Ln 12
Total expenses
$366K
Pt IX · Ln 25
Net assets
$223K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$131K
Total assetsPt X · Ln 16$244K
Program-expense ratioPt IX · col B65%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 4pending
Mission & Programs · Part III

Where the work happens

1 program service account for $239K of program spending, described in the organization's own filed words · FY2021.
01

To build economic wealth for the black community through workforce opportunities, economic empowerment, supply chain opportunities, leadership and development and business acceleration.

$239Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CGlobal Economic Diversity Developme
EINHdr · item D82-0826628
Principal addressHdr · item CLouisville, KY
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MKY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P30)
Ruling yearIRS BMFMar 2017

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Board Member
$0Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants100%$497K
Total revenueLn 12$497K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.65 Management & general $0.35
Program services65%$239K
Management & general35%$128K
Total functional expensesLn 25$366K

Balance Sheet

Part X · end of year
CashLn 1$213K
Total assetsLn 16$244K
Total liabilitiesLn 26$21K
Total net assetsLn 32$223K
Months of cash on handcomputed7.0

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $213K · Operating expenses/yr $366K
7.0 months
Where the money goes
Program services
Program services $239K · Total expenses $366K
65%
Management & General
Management & general $128K · Total expenses $366K
35%
Fundraising
Fundraising $0 · Total expenses $366K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $497K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $497K · Total revenue $497K
100%
Government reliance
Government grants — · Total revenue $497K
Earned-income share
Program service revenue $0 · Total revenue $497K
0%
Investment reliance
Investment income $0 · Total revenue $497K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $366K
0%
Growth & trend
Revenue growth (YoY)
This year $497K · Prior year $82K
+506%
Net-asset trend (YoY)
End of year $223K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $497K · Expenses $366K
+26%
Liabilities-to-Assets
Total liabilities — · Total assets $244K
Net-asset ratio
Net assets $223K · Total assets $244K
91%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $244K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Cordelia Donovan · Reported title Board Member · Highest reported compensation $0 · Total expenses $366K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $161K · Total expenses $366K
44%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 65%
Overhead ratio 35%
Fundraising cost ratio 0%
Revenue growth 506%
Legal fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 3 funders$84K
See all 3 funders →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2021 (Latest)$497K revenue · viewing · ⤓ 990 PDF
FY2020$82K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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