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EIN 85-1559517

Black Ambition Opportunity

IRS 501(c) type
501(c)(3)
Num. employees
5
City
Miami
State
Florida
Year formed
2020
Most recent tax filings
2023-12-01
NTEE code, primary
S43: Management Services for Small Business, Entrepreneurs
Description
Black Ambition Opportunity strives to increase economic opportunities for Black and Latinx communities and bridge the racial wealth gap by promoting entrepreneurship. The organization achieves this by increasing the pipeline of diverse entrepreneurs while also supporting historically excluded entrepreneurs who have shown progress against their concept but have raised no more than 1 million in dilutive funding. Black Ambition Awards financial support to such early-stage businesses and entrepreneurs that are comprised of diverse teams.
Total revenues
$5,166,718
2023
Total expenses
$7,312,622
2023
Total assets
$12,581,057
2023
Num. employees
5
2023

Program areas at Black Ambition Opportunity

Black Ambition awards financial support to early-stage businesses and entreprenuers comprised of diverse teams that have shown progress against concept, but have raised less no more than $1 million in dilutive funding. By focusing on diverse teams of businesses and entrepreneurs with limited funding, the program promotes social welfare by working to eliminate prejudice and discrimination from the business startup process while also mitigating its past effects.

Who funds Black Ambition Opportunity

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
PolicyLinkCrosscutting Strategies$1,393,887
Silicon Valley Community Foundation (SVCF)Civic Participation$1,263,500
Lennar FoundationThe Truth Is, Black Ambition Is Limitless Black Ambition Is A Non-Profit Initiative Working To Close the Opportunity and Wealth Gap Through Entrepreneurship. We Invest Capital and Resources in High-Growth Startups Founded By Black and Hispanic Entrepreneurs. We Believe Entrepreneurs Historically Left Out of Traditional Investment Funnels Are Building the Companies of Tomorrow.$1,000,000
...and 4 more grants received

Personnel at Black Ambition Opportunity

NameTitleCompensation
Felecia HatcherChief Executive Officer$360,781
Jermeen ShermanManaging Director of Programs and Operations
Alexis ChinDirector of Operations
Christine JosephCommunity Manager
Samiyah MalikCommunications and Strategic Initiatives Manager
...and 1 more key personnel

Financials for Black Ambition Opportunity

RevenuesFYE 12/2023
Total grants, contributions, etc.$5,092,493
Program services$74,000
Investment income and dividends$225
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$5,166,718

Form 990s for Black Ambition Opportunity

Fiscal year endingDate received by IRSFormPDF link
2023-122024-11-19990View PDF
2022-122023-11-16990View PDF
2021-122023-04-27990EZView PDF

Organizations like Black Ambition Opportunity

OrganizationLocationRevenue
Launch TennesseeNashville, TN$13,419,783
Grow NebraskaKearney, NE$2,663,131
Fearless FoundationAtlanta, GA$2,596,277
Feed the Soul FoundationHouston, TX$1,506,056
California Health AdvocatesSacramento, CA$1,782,692
Rideshare CompanyBloomfield, CT$7,904,966
Invest Puerto RicoSan Juan, PR$8,077,537
Capitalplus Exchange CorporationSkokie, IL$3,830,948
Winston StartsWinston Salem, NC$1,309,857
Start Up WacoWaco, TX$8,193,520
Data update history
January 10, 2025
Posted financials
Added Form 990 for fiscal year 2023
January 7, 2025
Updated personnel
Identified 1 new personnel
November 26, 2024
Received grants
Identified 2 new grant, including a grant for $1,000,000 from Lennar Foundation
July 9, 2024
Received grants
Identified 1 new grant, including a grant for $110,000 from Schultz Family Foundation
January 2, 2024
Updated personnel
Identified 4 new personnel
Nonprofit Types
Social advocacy organizationsBusiness and community development organizationsCharities
Issues
HispanicBusiness and industry
Characteristics
Tax deductible donationsAccepts online donations
General information
Address
360 NW 27th St
Miami, FL 33127
Metro area
Miami-Fort Lauderdale-Pompano Beach, FL
County
Miami-Dade County, FL
Website URL
blackambitionprize.com/ 
Phone
(310) 229-0371
IRS details
EIN
85-1559517
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2020
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S43: Management Services for Small Business, Entrepreneurs
NAICS code, primary
813319: Social Advocacy Organizations
Parent/child status
Independent
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