EIN 90-1179763

247 Blac

IRS 501(c) type
501(c)(3)
Num. employees
1
State
Year formed
2021
Most recent tax filings
2023-12-01
NTEE code, primary
Description
247 Blac coordinates redevelopment efforts and implements public and private development plans on the north side of Waterloo, Iowa. The organization also assists the city in combatting deterioration through community developments.
Also known as...
Renew Waterloo
Total revenues
$315,937
2023
Total expenses
$366,768
2023
Total assets
$743,403
2023
Num. employees
1
2023

Program areas at 247 Blac

BLACK BUSINESS & ENTREPRENEURSHIP ACCELERATOR - In 2023 our organization successfully facilitated two cohorts of participants through our comprehensive entrepreneurial training program. These cohorts comprising individuals from diverse backgrounds were designed to equip participants with the necessary skills resources and mentorship to launch and grow their own businesses. A total of 21 participants completed the program and graduated with each graduate demonstrating proficiency in core areas such as business planning financial management and marketing strategy. Notably all 21 graduates launched entrepreneurial ventures as a result of the program contributing to local economic development and fostering innovation within their respective industries. Through our continued focus on education mentorship and resource development we remain committed to empowering emerging entrepreneurs and supporting their journey toward sustainable business ownership.
CONTENT THAT MATTERS - In 2023 the organization launched a one-time project titled Curriculum That Matters designed to revamp and enhance the entire program curriculum across all offerings. The goal of this initiative was to ensure that the curriculum reflects current trends best practices and the evolving needs of participants particularly in the areas of leadership development professional growth and business strategy. This comprehensive overhaul included updating instructional materials integrating innovative learning techniques and ensuring the content was culturally relevant and tailored to the experiences of Black professionals and businesses. The Curriculum That Matters project has positioned the organization to deliver even more impactful and effective programming in the future with a focus on equipping participants with the tools and knowledge necessary for sustained personal and professional success.
PROJECT HOME - In 2023 Project Home a public-private partnership dedicated to increasing the number of Black homeowners in the Midwest achieved significant outcomes aligned with its mission to foster wealth-building and personal asset development within historically underrepresented communities. Through targeted education financial literacy programs and access to resources Project Home successfully supported 33 participants in achieving first-time homeownership. By providing guidance on navigating the home-buying process and securing financing these 33 new homeowners are now on a path toward building equity and financial stability. The program's outcomes reflect its strong commitment to addressing systemic barriers to homeownership and supporting wealth creation in Black communities across the Midwest.

Who funds 247 Blac

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Northwest Area FoundationGeneral Operating and Capacity Building Support$150,000
Ewing Marion Kauffman FoundationSupport for the Black Business Accelerator, An Entrepreneurial Ecosystem Addressing Unique Networking, Education and Capital Challenges Faced By Black Founders Through Access/resources & To Promote Business Resiliency and Sustainability. 202104-10297$100,000
Otto Schoitz FoundationProgrammatic Support$75,000
...and 2 more grants received

Personnel at 247 Blac

NameTitleCompensation
Felicia SmithVice President
Madelyn RidgewayExecutive Director$0
Kingsley Botchway, KingsleyRegional Director of Human Resources
Sharina SallisPresident , Trustage$0
Kalola RobyDiversity Director , Lincoln Savings Bank$0
...and 4 more key personnel

Financials for 247 Blac

RevenuesFYE 12/2023
Total grants, contributions, etc.$311,451
Program services$4,486
Investment income and dividends$0
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$315,937

Form 990s for 247 Blac

Fiscal year endingDate received by IRSFormPDF link
2023-122024-10-16990View PDF
2022-122023-11-15990View PDF
2021-122023-10-13990View PDF
2020-122022-02-02990EZView PDF
2019-122021-04-21990EZView PDF
...and 2 more Form 990s

Organizations like 247 Blac

OrganizationLocationRevenue
Eagles Economic CDCUnion City, GA$100,821
Beaver County Regional Council of GovernmentsMonaca, PA$391,852
Michigan Economic Development FoundationOkemos, MI$782,167
Centerstate CEO FoundationSyracuse, NY$754,823
One Sumter Economic Development FoundationAmericus, GA$1,060,926
Economic Development on ThirdSan Francisco, CA$984,767
Montgomery County Economic DevelopmentFarmersville, IL$91,382
Whitehaven Economic Development CorporationMemphis, TN$151,369
Grant County Economic Growth CouncilMarion, IN$1,098,946
Desour Valley EdcBurlington, ND$151,738
Data update history
December 6, 2024
Posted financials
Added Form 990 for fiscal year 2023
November 27, 2024
Updated personnel
Identified 2 new personnel
July 12, 2024
Received grants
Identified 1 new grant, including a grant for $6,000 from GreenState Credit Union
June 10, 2024
Updated personnel
Identified 3 new personnel
May 18, 2024
Received grants
Identified 3 new grant, including a grant for $100,000 from Ewing Marion Kauffman Foundation
Nonprofit Types
Public sector nonprofitsBusiness and community development organizationsCharities
Issues
Community improvementEconomic development
Characteristics
Partially liquidatedState / local levelTax deductible donationsNo full-time employeesAccepts online donations
General information
Address
PO Box 2031
Waterloo, IA 50704
Metro area
Waterloo-Cedar Falls, IA
County
Black Hawk County, IA
Website URL
twentyfoursevenblac.com/ 
Phone
(319) 427-0314
IRS details
EIN
90-1179763
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2021
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S30: Economic Development
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Independent
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