PLATINUM2023

Black Wall Street Avl

Honoring History, Building Wealth Together

Asheville, NC   |  https://blackwallstreetavl.com/
GuideStar Charity Check

Black Wall Street Avl

EIN: 87-1330821


Mission

To START, GROW and EXPAND Black Business and help revitalize black Wall Street.

Ruling year info

2022

Principal Officer

Joseph Hackett

Co-Founder/Executive Director

Bruce Waller Jr

Main address

346 Depot St

Asheville, NC 28801 USA

Show more contact info

EIN

87-1330821

Subject area info

Economics

Sustainable development

Cultural rights

Economic justice

Ethnic and racial minority rights

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Population served info

Adolescents

Young adults

People of African descent

Multiracial people

Low-income people

Show more populations served

NTEE code info

Urban, Community (S31)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Tax forms

Show Forms 990

Communication

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

The need for support of Black entrepreneurship in Asheville, NC is driven by challenges faced by Black business owners including limited access to capital, limited resources and networks, and discrimination. Supporting Black entrepreneurs addresses these challenges and helps build a more equitable and vibrant local economy. Empowering Black entrepreneurs with resources and opportunities is crucial for overcoming challenges and achieving success.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Business Incubation

We help local Black entrepreneurs scale their businesses by assisting them in securing state incorporation and other paperwork. We provide business coaching for them to set goals, imagine and create their company's vision, growth and development, and put strategies into action. We also connect them with potential partners to build their network.

Population(s) Served
People of African descent
Multiracial people
At-risk youth
Working poor
Low-income people

Where we work

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Number of businesses developed

This metric is no longer tracked.
Totals By Year
Related Program

Business Incubation

Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Increasing

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

To start, grow and expand black businesses, owners, and networks, and revitalize the Black Wall Street in Asheville by providing them with the resources, networks, and opportunities they need to create and develop successful businesses, with the ultimate goal of addressing disparities and building a more equitable and vibrant local economy.

Cultivate relationships
Connect with stakeholders
Collaborate in projects

Financials

Black Wall Street Avl
Fiscal year: Sep 01 - Aug 31

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2023 info

SOURCE: IRS Form 990

1.87

Average of 0.94 over 2 years

Months of cash in 2023 info

SOURCE: IRS Form 990

1.4

Average of 0.7 over 2 years

Fringe rate in 2023 info

SOURCE: IRS Form 990

0%

Average of 0% over 2 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

Black Wall Street Avl

Revenue & expenses

Fiscal Year: Sep 01 - Aug 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

Black Wall Street Avl

Balance sheet

Fiscal Year: Sep 01 - Aug 31

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

Black Wall Street Avl

Financial trends analysis Glossary & formula definitions

Fiscal Year: Sep 01 - Aug 31

SOURCE: IRS Form 990 info

This snapshot of Black Wall Street Avl’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

Created in partnership with

Business model indicators

Profitability info 2023
Unrestricted surplus (deficit) before depreciation $17,696
As % of expenses 8.0%
Unrestricted surplus (deficit) after depreciation $14,624
As % of expenses 6.5%
Revenue composition info
Total revenue (unrestricted & restricted) $240,232
Total revenue, % change over prior year 0.0%
Program services revenue 3.4%
Membership dues 0.0%
Investment income 0.0%
Government grants 2.1%
All other grants and contributions 94.6%
Other revenue 0.0%
Expense composition info
Total expenses before depreciation $222,452
Total expenses, % change over prior year 0.0%
Personnel 45.4%
Professional fees 44.2%
Occupancy 0.0%
Interest 0.0%
Pass-through 2.7%
All other expenses 7.6%
Full cost components (estimated) info 2023
Total expenses (after depreciation) $225,524
One month of savings $18,538
Debt principal payment $0
Fixed asset additions $21,500
Total full costs (estimated) $265,562

Capital structure indicators

Liquidity info 2023
Months of cash 1.4
Months of cash and investments 1.4
Months of estimated liquid unrestricted net assets 0.7
Balance sheet composition info 2023
Cash $25,648
Investments $0
Receivables $0
Gross land, buildings, equipment (LBE) $23,900
Accumulated depreciation (as a % of LBE) 22.9%
Liabilities (as a % of assets) 31.0%
Unrestricted net assets $0
Temporarily restricted net assets N/A
Permanently restricted net assets N/A
Total restricted net assets $0
Total net assets $30,486

Key data checks

Key data checks info 2023
Material data errors No

Operations

The people, governance practices, and partners that make the organization tick.

Documents
Letter of Determination is not available for this organization
Form 1023/1024 is not available for this organization

Principal Officer

Joseph Hackett

Experienced Executive Director with a demonstrated history of working in the community and economic development field. Specializing in hi-growth sustainability and turnaround. Skilled in Nonprofit Organizations, Cultural Diversity, Strategic Planning, Public Speaking, and Executive Management. Strong business development professional with a Master of Business Administration - MBA focused in Social Entrepreneurship from Lenoir-Rhyne University.

Co-Founder/Executive Director

Bruce Waller

Number of employees

Source: IRS Form 990

Black Wall Street Avl

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
Related
Show data for fiscal year
Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

There are no highest paid employees recorded for this organization.

Black Wall Street Avl

Board of directors
as of 02/02/2023
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

Joseph Hackett

Organizational demographics

SOURCE: Self-reported; last updated 9/12/2022

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
Black/African American
Gender identity
Male, Not transgender
Sexual orientation
Heterosexual or Straight
Disability status
Person without a disability

The organization's co-leader identifies as:

Race & ethnicity
Black/African American
Gender identity
Male, Not transgender
Sexual orientation
Heterosexual or Straight
Disability status
Person without a disability

Race & ethnicity

No data

Gender identity

No data

Transgender Identity

No data

Sexual orientation

No data

Disability

No data