Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2021.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
94 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Who runs it and what they're paid
6 people listed on the 990.
Michael Obi’s $165K as President is at the 97th percentile of top reported officer pay among 1265 $100K–1M philanthropy & grantmaking 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 · 1 named individual · Part VII
| Name | FY2023 | FY2021 |
|---|---|---|
| Michael Obi | $165,000 | $146,674 |
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
Programs and updates
Provides business capital to grow minority-led small businesses in Greater Cleveland.
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To make access to credit more readily available to high potential existing underserved small businesses in the Greater Cleveland area and other parts of Northeast Ohio.
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Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $2.5M | $2.3M |
| Total assetsLn 16 | $4.2M | $4.6M |
| LiabilitiesLn 26 | $3.3M | $3.8M |
| Net assetsLn 32 | $926K | $806K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Other salaries and wagesLn 7 | $343K | $309K | $34K | |
| Payroll taxesLn 10 | $25K | $23K | $3K | |
| Other fees for servicesLn 11g | $236K | $236K | ||
| Advertising and promotionLn 12 | $17K | $17K | ||
| Office expensesLn 13 | $33K | $30K | $3K | |
| Information technologyLn 14 | $72K | $72K | ||
| OccupancyLn 16 | $21K | $19K | $2K | |
| TravelLn 17 | $4K | $3K | $353 | |
| InterestLn 20 | $10K | $10K | ||
| InsuranceLn 23 | $27K | $27K | ||
| Other expenses (24a–d)Ln 24 | $66K | $58K | $8K | |
| Total functional expensesLn 25 | $853K | $803K | $51K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $734K | $853K | −$120K | $806K | 990 PDF |
| FY2023 | $676K | $529K | $147K | $926K | 990 PDF |
| FY2022 | $995K | $385K | $610K | $779K | 990 PDF |
| FY2021 | $577K | $439K | $138K | $147K | 990 PDF |
| FY2020 | $63K | $9K | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $733,757 across 6 lines filed
Part IX · Statement of functional expenses $853,472 across 11 lines filed
Part X · Balance sheet $4,595,942 assets, 10 lines filed
Part XI · Reconciliation of net assets $806,233 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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