2024-11-15T16:34:46-06:00 2023-12-31 390919055 RITZ HOLMAN LLP 330 E KILBOURN AVE SUITE 550 MILWAUKEE WI 53202 990 2023-01-01 391768969 AFRICAN AMERICAN CHAMBER OF COMMERCE OF WISCONSIN INC AFRI 4144629450 1920 N MARTIN LUTHER KING JR DRIV MILWAUKEE WI 53212 NIKKI PURVIS PRESIDENT & CEO 4144629450 2024-11-15 1 1 RENEE MESSING P01872384 4142711451 2024-11-15 2023 2024-10-15 13:58:12Z NIKKI PURVIS 1920 N MARTIN LUTHER KING JR DRIVE MILWAUKEE WI 53212 780353 0 X WWW.AACCWI.ORG X 1993 WI WE CHAMPION THE GROWTH AND SUSTAINABILITY OF AFRICAN AMERICAN OWNED BUSINESSES BY PROVIDING ACCESS TO CAPITAL, EDUCATION AND ADVOCACY THROUGH CAPACITY BUILDING AND STRATEGIC PARTNERSHIPS. 13 13 6 13 0 0 455970 593824 35200 20850 7907 0 86766 111877 585843 726551 49366 17200 0 0 402728 366500 0 0 40174 332587 414165 784681 797865 -198838 -71314 1282855 2718446 369910 1874310 912945 844136 X WE CHAMPION THE GROWTH AND SUSTAINABILITY OF AFRICAN AMERICAN OWNED BUSINESSES BY PROVIDING ACCESS TO CAPITAL, EDUCATION AND ADVOCACY THROUGH CAPACITY BUILDING AND STRATEGIC PARTNERSHIPS.OUR VISION - STRONG AFRICAN AMERICAN OWNED BUSINESSES AND ENTREPRENEURS THAT PROMOTE THE ECONOMIC VIBRANCY OF OUR COMMUNITY BY PROVIDING LIMITLESS OPPORTUNITIES IN THE WORKPLACE. 0 0 453862 17200 5682 THE CHAMBER PROVIDES OPPORTUNITIES FOR MEMBERS PROMOTION AND PUBLICITY, A VOICE IN GOVERNMENT, NETWORKING EVENTS AND OPPORTUNITIES AND CUSTOMER REFERRALS. THE FACILITY PROVIDES A CO-WORKING SPACE FOR MEMBERS. IN ADDITION, THE CHAMBER HAS A REVOLVING LOAN FUND THAT IS DESIGNED TO INCREASE ACCESS TO CAPITAL FOR EXISTING AND NEW MINORITY BUSINESSES, WHILE DEVELOPING PARTNERSHIPS WITHIN THE BUSINESS COMMUNITY. KIVA U.S. IS AN INTERNATIONAL NON-PROFIT THAT ENABLES FINANCIALLY EXCLUDED AND SOCIALLY IMPACTFUL ENTREPRENEURS TO ACCESS 0% INTEREST SMALL BUSINESS LOANS OF UP TO $10K.IN PARTNERSHIP WITH LISC, THE CHAMBER PROVIDES GRANTS TO SMALL BUSINESSES. 109198 20850 RISE MKE POWERED BY MORTAR - A 14-WEEK ENTREPRENEURIAL TRAINING PROGRAM DESIGNED TO ENSURE THAT EMERGING BUSINESSES DON'T START BLINDLY, PROVIDING BUSINESS DEVELOPMENT WITH A FOCUS ON MARKETING, BRANDING, BUSINESS NETWORK DEVELOPMENT, AND OTHER ESSENTIAL RESOURCES. RISE WAS ADAPTED FROM THE HIGHLY SUCCESSFUL CINCINNATI BASED MINORITY BUSINESS ACCELERATOR PROGRAM CALLED MORTAR. THE AFRICAN AMERICAN CHAMBER HAS FORMED A STRATEGIC PARTNERSHIP BETWEEN LISC MILWAUKEE AND THE MILWAUKEE URBAN LEAGUE AS A COMPONENT OF THE RAMP UP PROJECT. RISE CURRICULUM WILL FOCUS ON ENABLING UNDERSERVED ENTREPRENEURS THROUGH EDUCATION, GUIDANCE, AND MENTORSHIP. SPUR - CAPACITY BUILDING INTENSIVE WORKSHOP SERIES DESIGN BASED ON RESEARCH FROM THE FEDERAL RESERVE ABOUT THE NEEDS AND CRITICAL ISSUES OF SMALL BUSINESSES. THERE ARE THREE PRIMARY COMPONENTS 1)WORKSHOP SESSIONS; 2)SMALL GROUP ADVISORY ROUNDTABLES; 3)TARGETED NETWORKING SESSIONS. THE PROGRAM IS DESIGNED TO PROVIDE SMALL BUSINESSES WITH FOCUSED CUSTOMIZED TRAINING AND NETWORKING OPPORTUNITIES THAT ADDRESS THEIR SPECIFIC NEEDS. 563060 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 23 0 1 6 1 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 WI X NIKKI PURVIS 4144629450 1920 N DR MARTIN LUTHER KING JR MILWAUKEE WI 53212 NIKKI PURVIS CEO 40.00 X 98346 0 32402 WARREN E BULIOX CHAIR 1.00 X X 0 0 0 MARJORIE RUCKER VICE-CHAIR 1.00 X X 0 0 0 JULIAN BERRY SECRETARY 1.00 X 0 0 0 MIKAL WESLEY DIRECTOR 1.00 X X 0 0 0 NICOSIA KING DIRECTOR 1.00 X X 0 0 0 DR DEBORAH ALLEN DIRECTOR 1.00 X 0 0 0 TIFFANY MEANS DIRECTOR 1.00 X 0 0 0 DR LIA KNOX DIRECTOR 1.00 X 0 0 0 NICHOLAS TREDER DIRECTOR 1.00 X 0 0 0 MATT PAZARAS DIRECTOR 1.00 X 0 0 0 WILLIAM DECK DIRECTOR 1.00 X 0 0 0 LAQUONDRA SHAW DIRECTOR 1.00 X 0 0 0 KEESHA JONES-SUTTON DIRECTOR 1.00 X 0 0 0 98346 0 32402 0 0 0 0 0 24958 518566 50300 593824 RISE PROGRAM 611430 20850 20850 20850 27800 0 27800 27800 27800 132197 53802 78395 78395 MISCELLANEOUS REVENUE 900099 5682 5682 5682 726551 26532 0 106195 17200 17200 140664 77365 35167 28132 185186 152323 32863 19857 19142 715 20793 16208 4585 14738 14738 46437 42294 4143 1679 1679 12235 2234 9598 403 270 270 90383 54230 27115 9038 472 472 809 809 2531 2531 64843 45154 19689 3354 3354 RISE PROGRAM 109198 109198 OTHER EXPENSE 26712 1116 25596 EQUIPMENT RENTAL & MAIN 26014 15609 7804 2601 ALLOWANCE FOR LOAN LOSS 9376 9376 5114 330 4784 797865 563060 194631 40174 108260 1098499 70000 50000 48193 55756 81316 47701 70000 0 823335 164683 722225 658652 52583 43207 337 0 129941 764631 1282855 2718446 44343 50869 75815 933999 124811 124811 124941 764631 369910 1874310 X 467652 706616 445293 137520 912945 844136 1282855 2718446 -71314 2505 0 X 0 1 X 1 0 X 537836 814870 726358 455970 593824 3128858 537836 814870 726358 455970 593824 3128858 106716 3022142 27800 27800 159332 382227 74624 77891 84077 778151 3934809 0.76810 0.75560 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 629545 104925 524620 193790 59758 134032 658652 RIGHT-OF-USE ASSET - OPERATING LEASE 764631 764631 LEASE LIABILITY - SHORT TERM OPERATING LEASE 65496 LEASE LIABILITY - LONG TERM OPERATING LEASE 699135 764631 X 726551 0 726551 0 726551 797865 0 797865 0 797865 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF INTERNAL REVENUE CODE AND IS CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION. MANAGEMENT HAS REVIEWED ALL TAX POSITIONS RECOGNIZED IN PREVIOUSLY FILED TAX RETURNS AND THOSE EXPECTED TO BE TAKEN IN FUTURE TAX RETURNS. THE ORGANIZATION DOES NOT ANTICIPATE ANY SIGNIFICANT CHANGES TO UNRECOGNIZED INCOME TAX BENEFITS OVER THE NEXT YEAR. BREAKFAST OF CHAMPIONS 125000 125000 22000 400 11800 17298 OTHER EVENTS 7197 7197 150 1929 225 132197 132197 22150 2329 12025 17298 53802 78395 1 FLY NAILS LLC 6909 N 45TH ST MILWAUKEE WI 53223 853667191 0 5500 FMV MKE PITCH NIGHT AWARD PART I, LINE 2: GRANTS WERE PROVIDED TO SMALL BUSINESSES THROUGH FUNDING FROM THE WISCONSIN ECONOMIC DEVELOPMENT CORPORATION AND THE GREATER MILWAUKEE FOUNDATION. FORM 990, PART VI, SECTION B, LINE 11B LINE 11B EXPLANATION - THE 990 IS REVIEWED AND APPROVED BY MANAGEMENT AND THEN IS PROVIEDED TO THE ENTIRE BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS OUTLINED IN BYLAWS. BOARD CHAIR AND PRESIDENT MEET WEEKLY TO DISCUSS ANY PERTINENT ISSUES SUCH AS THIS. FORM 990, PART VI, SECTION B, LINE 15 BOARD CHAIR COMPLETES AN ANNUAL REVIEW AND COMPENSATION STUDY THAT IS SHARED AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION PROVIDES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST AND OTHER POLICIES TO MEMBERS OF THE PUBLIC UPON REQUEST. THE FINANCIAL INFORMATION IS AVAILABLE TO THE PUBLIC THROUGH THE FORM 990 AND THE AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.