Black Economic Development Coalition Inc, Tools For Change in Miami, Florida (FL)

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Black Economic Development Coalition Inc, Tools For Change
Employer Identification Number (EIN)650159176
Name of OrganizationBlack Economic Development Coalition Inc
Secondary NameTools For Change
In Care of NameElaine Black
Address180 Nw 62nd St, Miami, FL 33150-4543
ActivitiesArea development, redevelopment of renewal, Loans or grants for minority businesses, Lessen neighborhood tensions
SubsectionCharitable Organization
Ruling Date03/1993
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$1,000,000 to $4,999,999
Income$500,000 to $999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$1,789,076
Amount of Income$933,299
Form 990 Revenue Amount$933,299
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Urban, Community Economic Development


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Amount of income in 2013: $933,299 (it was $620,379 in 2012)
This organization: 

 $933,299
Other organizations performing similar types of work: 

 $738,131

Assets in 2013: $1,789,076 (it was $1,356,290 in 2012)
Black Economic Development Coalition Inc, Tools For Change: 

 $1,789,076
Other organizations performing similar types of work: 

 $2,863,992

Expenses in 2012: $368,694
This organization: 

 $368,694
Other organizations performing similar types of work: 

 $653,069

Income to expenses ratio in 2012: 2.5
This organization: 

 2.5
Other organizations performing similar types of work: 

 1.1

Number of employees in 2012: 10
Black Economic Development Coalition Inc, Tools For Change: 

 10
Other organizations performing similar types of work: 

 3

Grants share in income in 2012: 100.0%
Black Economic Development Coalition Inc, Tools For Change: 

 100.0%
Other organizations performing similar types of work: 

 37.7%

Financial snapshot ($)

Functional expenses for 2012

Support schedule

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$620,379
Contributions, Gifts, Grants and Other Similar Amounts$620,379
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$0
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2012)
Total functional expenses$368,694
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$249,303
Payroll taxes$19,324
Professional fundraising services$0
Other$100,067
Balance Sheet (for 2012)
Total assets$1,356,290
Total liabilities$1,090,961
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$1,090,961
Total net assets or fund balances$265,329
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2012)
2008 - 2012 Total
Total Support$2,071,206
Gifts, grants, contributions, and membership fees received$2,064,605
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$6,601
Gross receipts from related activities, etc.$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Bac Funding Corporation6600 Nw 27th Ave, Miami, FL 33147-7220FL1982-07$4,482,072
2Miami Beach Community Development Corporation Inc945 Pennsylvania Ave, Miami Beach, FL 33139-5482FL1983-04$3,258,233
3Bac Funding Consortium Inc6600 Nw 27th Ave, Miami, FL 33147-7220FL1985-01$400,132
4Miami Capital Development IncMiami, FL 33131FL$358,836
5Union County Economic Development Corp75 Chestnut St, Cranford, NJ 07016-2937NJ1979-04$2,780,218
6Rock Hill Economic Development CorporationPO BOX 11706, Rock Hill, SC 29731-1706SC1984-01$1,413,791
7Black Economic Development Coalition Inc, Tools For Change180 Nw 62nd St, Miami, FL 33150-4543FL1993-03$933,299
8Sobro Development Corporation555 Bergen Ave, Bronx, NY 10455-1368NY1983-06$671,663
9Watertown Industrial Center Local Development Corporation800 Starbuck Avenue, Watertown, NY 13601-1659NY1995-02$470,496
10The Downtown Shareholders Of Kansas City Kansas Inc726 Armstrong Ave, Kansas City, KS 66101-2702KS2008-03$456,374
11Ulster County Development Corporation5 Development Ct, Kingston, NY 12401-1949NY1981-03$114,394
12Superior Development Corporation354 N Commercial Ave, Superior, NE 68978-1724NE2006-03$78,567
13Schenectady Local Development Corp105 Jay St, Schenectady, NY 12305-1905NY1991-03$71,135
14Southern Windsor County Incubator Inc14 Clinton St Ste 7, Springfield, VT 05156-3302VT2006-12$22,644
15Bay City River Of Lights Festival208 E Murphy St, Bay City, MI 48706MI2008-05$0
16Bourbon Community Development CorporationP O Box 593, Bourbon, MO 65441MO2007-06$0
17Center For The Urban Environment2116 2nd Ave S, Minneapolis, MN 55404-2606MN2000-08$0
18Christian Economic Coalition Inc493 Washington St, Dorchester, MA 02124-2014MA1994-08$0
19Community Capital Development CorporationPO BOX 1305, Flint, MI 48502MI1979-04$0
20Omega Trust Inc7301a W Palmetto Park Rd Ste 305c, Boca Raton, FL 33433-3466FL1999-12$0
Number of organizations performing similar types of work
Alaska1
Alabama2
Arizona1
California7
Connecticut4
Florida6
Georgia2
Hawaii1
Iowa2
Idaho2
Illinois1
Indiana8
Kansas1
Louisiana1
Massachusetts9
Maryland2
Maine1
Michigan6
Minnesota3
Missouri4
Montana1
North Carolina4
Nebraska1
New Hampshire2
New Jersey8
New York23
Ohio13
Oklahoma2
Pennsylvania16
Rhode Island1
South Carolina4
South Dakota3
Texas3
Vermont3
Washington1
Wisconsin4
West Virginia2
Total155

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