Black Product Managers FY2023 filing

Tax-deductible

San Francisco, CA501(c)(3)Public & Societal BenefitEIN 85-2790239Revenue $707K in FY2023

On file with the IRSblackproductmanagers.com50 California St Ste 1500, 94111-4612 · San Francisco, CATax-exempt since Jan 2021Publicly supported charity — 170(b)(1)(A)(vi)

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To connect underrepresented professionals to experts, allies and resources to succeed in their careers

501(c)(3) charity; gifts are tax-deductible.
68¢ of each $1 spent went to programs.
$267K 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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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
2 of 4
filings with a surplus
Average surplus $76K a year · 16% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
68%
of spending
Fine: 68% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$267K
to officers and key staff · 37% of spending
Concern: pay to officers and key staff is 37% of spending; over 30%.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 5.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $55K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2K
0.6% of total assets
Looks good: liabilities are 1% 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
$707K
+63% vs prior year
Spent
$718K
To programs
68%
Net assets
$426K
By yearFY2021–FY2024
Revenue
$707K
FY2023▲ +63%
Tap a bar for its year
Revenue by fiscal year
FY2021$367K
FY2022$433K
FY2023$707K
FY2024$369K
Expenses
$718K
FY2023▲ +114%
Tap a bar for its year
Expenses by fiscal year
FY2021$37K
FY2022$336K
FY2023$718K
FY2024$482K
Net assets
$426K
FY2023▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2021$339K
FY2022$437K
FY2023$426K
FY2024$313K

From the FY2023 Form 990 · see the original

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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 Jan 2021.

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

Where the money goes

68 cents of each dollar spent went to programs.

Program services 68% · $489K Management & general 32% · $228K Fundraising 0% · $890

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; $267K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$174,000Pt VII · Sec A
CEO (thru 4/30/23)
$92,945Pt VII · Sec A
Chairperson of the Board
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Amma Bofa’s $186K as Executive Director is at the 96th percentile of top reported officer pay among 1043 $100K–1M public & societal benefit 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

NameFY2024FY2023FY2022
Amma Bofa$186,000$174,000$127,800
Acasia Wilson Feinberg—$92,945—

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

Connects underrepresented professionals with experts and resources for career success.

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Provided by the organization

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1 program · $489K · in their own filed words · FY2023
01

BPM made a massive impact in 2023. Specifically, we launched additional cohorts of our level up program geared toward helping black product managers up level their skills and gain new roles in product management. In our 8-WEEK program across 2 cohorts, we had 1,000 applicants and 125 participants accepted to the program.

$489Kprogram 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$55K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$707K
Ln 12
Gifts and grantsLn 1h$620K
Fees for servicesLn 2g$87K
Money outPt IX
$718K
Ln 25
Programscol B$489K
Managementcol C$228K
Fundraisingcol D$890
Owns and owesPt X
$426K
net assets · Ln 32
Cash and savingsLn 1–2$315K
Total assetsLn 16$429K
LiabilitiesLn 26$2K
PeoplePt VI, VII
6
listed · VII A
PaidVII A2
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$620K
Fees for servicesLn 2g$87K
Total revenueLn 12$707K
Assets in detailPt X, end of year
CashLn 1$315K
Cash and savings togetherLn 1–2$315K
Other assetsLn 15$14K
Total assetsLn 16$429K
LiabilitiesLn 26$2K
Net assetsLn 32$426K
OperationsPt I, VI
EmployeesI 50
VolunteersI 640
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$388K$315K
Total assetsLn 16$437K$429K
LiabilitiesLn 26$577$2K
Net assetsLn 32$437K$426K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$267K$108K$158K
Payroll taxesLn 10$19K$19K
Legal feesLn 11b$9K$9K
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$194K$155K$39K
Office expensesLn 13$3K$431$3K
Information technologyLn 14$29K$29K
TravelLn 17$25K$25K
Conferences, conventions and meetingsLn 19$151K$151K
InsuranceLn 23$5K$5K
Other expenses (24a–d)Ln 24$13K$12K$890
Total functional expensesLn 25$718K$489K$228K$890

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $369K$482K−$113K$313K 990 PDF
FY2023 Viewing $707K$718K−$10K$426K 990 PDF
FY2022 $433K$336K$97K$437K 990 PDF
FY2021 $367K$37K$330K$339K 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 FY2023 990 (6 parts)
Part I · Summary $707,468 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $335,400$620,012
I-9 Program service revenuePrior year $97,846$87,456
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $433,246$707,468
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$285,783
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $335,952$431,967
I-18 Total expensesPrior year $335,952$717,750
I-19 Revenue less expensesPrior year $97,294−$10,282
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
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 $707,468 across 4 lines filed
VIII-1f All other contributions, gifts and grants$620,012
VIII-1h Total contributions, gifts and grants$620,012
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $87,456$87,456
VIII-12 Total revenueRelated to mission $87,456 · Unrelated business $0 · Excluded from tax $0$707,468
Part IX · Statement of functional expenses $717,750 across 11 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $108,472 · Management $158,473$266,945
IX-10 Payroll taxesManagement $18,838$18,838
IX-11b Legal feesManagement $8,523$8,523
IX-11c Accounting feesPrograms $2,500$2,500
IX-11g Other fees for servicesPrograms $154,900 · Management $39,100$194,000
IX-13 Office expensesPrograms $431 · Management $2,871$3,302
IX-14 Information technologyPrograms $29,422$29,422
IX-17 TravelPrograms $24,806$24,806
IX-19 Conferences, conventions and meetingsPrograms $151,221$151,221
IX-23 InsurancePrograms $4,862$4,862
IX-24 Other expenses (24a–d)Programs $12,441 · Fundraising $890$13,331
IX-25 Total functional expensesPrograms $489,055 · Management $227,805 · Fundraising $890$717,750
Part X · Balance sheet $428,744 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $387,846$315,335
X-4 Accounts receivableStart of year $49,350$99,350
X-15 Other assets$14,059
X-16 Total assetsStart of year $437,196$428,744
X-17 Accounts payable and accrued expensesStart of year $577$2,407
X-26 Total liabilitiesStart of year $577$2,407
X-27 Net assets without donor restrictionsStart of year $436,619$426,337
X-32 Total net assets or fund balancesStart of year $436,619$426,337
X-33 Total liabilities and net assetsStart of year $437,196$428,744
Part XI · Reconciliation of net assets $426,337 net assets at year end
XI-1 Total revenue$707,468
XI-2 Total expenses$717,750
XI-3 Revenue less expenses−$10,282
XI-4 Net assets at start of year$436,619
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$426,337

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

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