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EIN 85-1559517

Black Ambition Opportunity

IRS 501(c) type
501(c)(3)
Num. employees
6
City
Miami
State
Florida
Year formed
2020
Most recent tax filings
2022-12-01
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
$15,514,312
2022
Total expenses
$4,162,251
2022
Total assets
$13,804,199
2022
Num. employees
6
2022

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
PolicyLinkCore Support$8,608,566
Silicon Valley Community Foundation (SVCF)Civil Participation$500,000

Personnel at Black Ambition Opportunity

NameTitleCompensation
Felecia HatcherChief Executive Officer$183,006
Jermeen ShermanManaging Director
Christine JosephCommunity Manager
Samiyah MalikCommunications and Strategic Initiatives Manager
Ron LaffitteTreasurer$0
...and 1 more key personnel

Financials for Black Ambition Opportunity

RevenuesFYE 12/2022
Total grants, contributions, etc.$15,514,291
Program services$0
Investment income and dividends$21
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$15,514,312

Form 990s for Black Ambition Opportunity

Fiscal year endingDate received by IRSFormPDF link
2022-122023-11-16990View PDF
2021-122023-04-27990EZView PDF
Data update history
January 2, 2024
Updated personnel
Identified 4 new personnel
December 29, 2023
Posted financials
Added Form 990 for fiscal year 2022
December 24, 2023
Used new vendors
Identified 1 new vendor, including
December 24, 2023
Received grants
Identified 1 new grant, including a grant for $500,000 from Silicon Valley Community Foundation (SVCF)
July 20, 2023
Posted financials
Added Form 990EZ for fiscal year 2021
Nonprofit Types
Social advocacy organizationsBusiness and community development organizationsCharities
Issues
HispanicBusiness and industry
Characteristics
Tax deductible donations
General information
Address
360 NW 27th St
Miami, FL 33127
Metro area
Miami-Fort Lauderdale-Pompano Beach, 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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