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B1 Foundation FY2023 filing

Tax-deductible

Baton Rouge, LA501(c)(3)Human Services EIN 84-4964205Revenue $106K in FY2023

On file with the IRS500 Laurel Street, 70801-1811 · Baton Rouge, LATax-exempt since May 2020Publicly supported charity — 170(b)(1)(A)(vi)

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B1 Foundation is helping to bridge the gap by providing education to small businesses and entrepreneurs.

501(c)(3) charity; gifts are tax-deductible.
70¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
4 of 4
filings with a surplus
Average surplus $56K a year · 32% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
70%
of spending
Fine: 70% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
27 mo
of spending, in cash
Looks good: 27.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $16K
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
$106K
-31% vs prior year
Spent
$62K
To programs
70%
Net assets
$139K
By yearFY2020–FY2024
Revenue
$106K
FY2023▼ -31%
Tap a bar for its year
Revenue by fiscal year
FY2020$110K
FY2021$223K
FY2022$153K
FY2023$106K
FY2024$217K
Expenses
$62K
FY2023▼ -25%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021$217K
FY2022$83K
FY2023$62K
FY2024$112K
Net assets
$139K
FY2023▲ +46%
Tap a bar for its year
Net assets by fiscal year
FY2020$9K
FY2021$25K
FY2022$95K
FY2023$139K
FY2024$244K

From the FY2023 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2023 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 May 2020.

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

Where the money goes

70 cents of each dollar spent went to programs.

Program services 70% · $43K Management & general 17% · $11K Fundraising 13% · $8K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See B1 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Educates small businesses and entrepreneurs to bridge gaps.

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Provided by the organization

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3 programs · $43K · in their own filed words · FY2023
01

TO PROVIDE A SCHOLARSHIP FUND, AND TO ENGAGE IN OTHER CHARITABLE and economic development ACTIVITIES. scholarship program - the foundation distributed $17,000 in scholarships to employees and their children.

$26Kprogram expense
02

To serve as an assistance fund to provide disaster and other hardship assistance to an indefinite class of individuals. Employee relief fund - the foundation distributed $12,704 in grants.

$13Kprogram expense
03

To offer financial and educational assistance to community-based organizations.

$5Kprogram 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
Louisiana Business Incubator Association IncorporatedFY2024$16K
Total grants receivedfrom 1 funder$16K
Grants paid · 13 grants · $321K · 2021–2024
Unitemized GrantFY2024$22,000
Unitemized GrantFY2024$12,925
Greater Baton Rouge Industry Alliance INCLA · FY2024$6,000
Bread of Life INCTX · FY2024$5,000
Louisiana Assocaition of Public Charter SchoolsLA · FY2024$5,000
Unitemized GrantFY2023$17,000
Unitemized GrantFY2023$12,704
Unitemized GrantFY2022$19,000
Greater Baton Rouge Economic Partnership INCLA · FY2022$15,000
Louisiana Assocaition of Public Charter SchoolsLA · FY2022$10,000
Unitemized GrantFY2022$4,000
Unitemized GrantFY2021$177,100
Greater Baton Rouge Economic Partnership INCLA · FY2021$15,000

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$106K
Ln 12
Gifts and grantsLn 1h$100K
Other incomeLn 4–11$5K
Money outPt IX
$62K
Ln 25
Programscol B$43K
Managementcol C$11K
Fundraisingcol D$8K
Owns and owesPt X
$139K
net assets · Ln 32
Cash and savingsLn 1–2$139K
Total assetsLn 16$139K
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$100K
Other incomeLn 4–11$5K
Total revenueLn 12$106K
Assets in detailPt X, end of year
CashLn 1$139K
Cash and savings togetherLn 1–2$139K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$139K
LiabilitiesLn 26$0
Net assetsLn 32$139K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$85K$139K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$95K$139K
LiabilitiesLn 26$0$0
Net assetsLn 32$95K$139K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$14K$14K
Grants to domestic individualsLn 2$30K$30K
Other fees for servicesLn 11g$5K$0$0$5K
Advertising and promotionLn 12$500$500
Office expensesLn 13$3K$3K
Other expenses (24a–d)Ln 24$10K$10K
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$62K$43K$11K$8K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $217K$112K$105K$244K 990 PDF
FY2023 Viewing $106K$62K$44K$139K 990 PDF
FY2022 $153K$83K$70K$95K 990 PDF
FY2021 $223K$217K$6K$25K 990 PDF
FY2020 $110K$9K 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 FY2023 990 (6 parts)
Part I · Summary $105,693 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $152,620$100,258
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$5,435
I-12 Total revenuePrior year $152,620$105,693
I-13 Grants and similar amounts paidPrior year $66,525$43,304
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 $16,295$18,449
I-18 Total expensesPrior year $82,820$61,753
I-19 Revenue less expensesPrior year $69,800$43,940
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $105,693 across 4 lines filed
VIII-1f All other contributions, gifts and grants$100,258
VIII-1h Total contributions, gifts and grants$100,258
VIII-6 Net rental income or lossExcluded from tax $5,435$5,435
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $5,435$105,693
Part IX · Statement of functional expenses $61,753 across 7 lines filed
IX-1 Grants to domestic organizationsPrograms $13,600$13,600
IX-2 Grants to domestic individualsPrograms $29,704$29,704
IX-11g Other fees for servicesPrograms $0 · Management $0 · Fundraising $4,535$4,535
IX-12 Advertising and promotionManagement $500$500
IX-13 Office expensesFundraising $3,234$3,234
IX-24 Other expenses (24a–d)Management $10,180$10,180
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $43,304 · Management $10,680 · Fundraising $7,769$61,753
Part X · Balance sheet $139,016 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $84,896$139,016
X-9 Prepaid expenses and deferred chargesStart of year $10,180$0
X-10c Land, buildings and equipment, net$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $95,076$139,016
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $95,076$139,016
X-33 Total liabilities and net assetsStart of year $95,076$139,016
Part XI · Reconciliation of net assets $139,016 net assets at year end
XI-1 Total revenue$105,693
XI-2 Total expenses$61,753
XI-3 Revenue less expenses$43,940
XI-4 Net assets at start of year$95,076
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$139,016

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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