2025-11-17T17:39:15-06:00 2023-12-31 310984945 WHALEN CPAS 655 METRO PLACE SOUTH SUITE 450 DUBLIN OH 43017 990 2023-01-01 851559517 Black Ambition Opportunity Inc BLAC 3102290371 360 NW 27th Street Miami FL 33127 Erik Moore Board Member 3102290371 2025-11-13 1 1 Jeffery A Pumplun CPA P01615641 6143964200 2025-11-13 2023 2025-03-06 01:10:19Z X Erik Moore 360 NW 27th Street Miami FL 33127 6102999 0 X www.blackambitionprize.com X 2020 DE Provide increased economic opportunities to underrepresented entrepreneurs to bridge wealth and opportunity gaps through entrepreneurship by increasing both the pipeline of diverse entrepreneurs as well as the number of historically excluded entrepreneurs who succeed at raising necessary startup capital. 4 4 5 0 0 0 15514291 6018771 0 84000 21 228 0 0 15514312 6102999 1576000 2185712 0 0 454310 975128 0 0 214885 2131941 4660781 4162251 7821621 11352061 -1718622 13804199 12255256 2452138 3374899 11352061 8880357 X Provide increased economic opportunities to underrepresented entrepreneurs to bridge wealth and opportunity gaps through entrepreneurship by increasing both the pipeline of diverse entrepreneurs as well as the number of historically excluded entrepreneurs who succeed at raising necessary startup capital. 0 0 6611001 2185712 84000 Black Ambition provides a platform for underrepresented founders to access capital, coaching, community and bespoke training content through a national prize competition. Eligible applicants consist of teams of underrepresented startup founders, who have raised no more than $1 million in dilutive funding, scaling early-stage ventures across technology, AI, media and entertainment, healthcare and consumer products and services. Black Ambition believes entrepreneurs historically left out of traditional investment funnels are building the companies of tomorrow. 6611001 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 7 0 5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 X Felicia Hatcher 4785955976 360 NW 27th Street Miami FL 33127 Pharrell Williams Director & Chair 1.00 X 0 0 0 Erik Moore Board Member 1.00 X 0 0 0 Ron Laffitte Board Member 1.00 X X 0 0 0 Felicia Hatcher CEO 40.00 X 360781 0 27195 360781 0 27195 1 0 1 0 0 6018771 6018771 Event Sponsorship 74000 74000 Service Fee Revenue 10000 10000 84000 228 228 6102999 84000 0 228 X 2185712 2185712 360781 228778 110125 21878 496730 314986 151622 30122 51560 32695 15738 3127 66057 41888 20163 4006 16642 8321 8321 35750 35750 789408 524579 180829 84000 543892 369848 135972 38072 48605 48605 118494 81133 37361 430934 374062 56872 673604 505203 134721 33680 613996 605296 8700 26787 26787 SAFE Agreement Allowanc 1338500 1338500 Professional Developmen 23062 23062 Postage & Shipping 1107 1107 7821621 6611001 995735 214885 5981697 8693057 3000000 1500000 1487502 0 3335000 2062199 13804199 12255256 2442353 134899 9785 3240000 2452138 3374899 X 6352061 4160940 5000000 4719417 11352061 8880357 13804199 12255256 X -1718622 30920 -784002 X 0 1 X 1 0 X 15514291 6018772 21533063 15514291 6018772 21533063 21533063 21 225 246 21533309 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 Pledges Receivable - Noncurrent 1436279 Mission Related Investments 625920 2062199 Prizes & Awards Payable 3240000 3240000 X 6449421 30920 315502 346422 6102999 0 6102999 8137123 315502 315502 7821621 0 7821621 Part X, Line 2: The organization is recognized as a tax-exempt organization under Section 501(c)(3) of the Code and is exempt from federal and state income taxes on related income. U.S. GAAP requires management to evaluate uncertain tax positions taken by the organization. The financial statement effects of a tax position is recognized when the position is more-likely-than-not, based on the technical merits, to be sustained upon examination by the Internal Revenue Service. Management has analyzed the tax positions taken by the organization and has concluded that as of December 31, 2023, there are no uncertain tax positions taken or expected to be taken. The organization has recognized no interest or penalties related to uncertain tax positions. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. Under the standard statute limitation, the organization is still subject to the audit since its inception. 1 Grants and Awards 36 2185712 X 0 0 0 0 0 0 0 0 0 Felicia Hatcher CEO 360781 0 0 0 0 0 6882 0 20313 0 387976 0 0 0 Form 990, Part VI, Section B, line 11b Form 990 is reviewed by the board of executive leadership prior to filing. Form 990, Part VI, Section B, line 12c The board reviews the conflict of interest policy annually. Form 990, Part VI, Section B, line 15 Comparative compensation data is used to set compensation for executive leaders. Comparative compensation data is used to set compensation for key employees. Form 990, Part VI, Section C, line 19 Documents can be made available upon request. Form 990, Part IX, line 11g Other Outside Service Fees: Program service expenses 488,579. Management and general expenses 162,860. Fundraising expenses 0. Total expenses 651,439. Dues & Membership Fees: Program service expenses 0. Management and general expenses 17,969. Fundraising expenses 0. Total expenses 17,969. Consultation Fees: Program service expenses 36,000. Management and general expenses 0. Fundraising expenses 84,000. Total expenses 120,000. Form 990, Part XI, line 9: Adjustment to SAFE Valuation to meet GAAP reporting requirements -784,002. Reason for Amended Return The organization became aware of accounting misstatements and engaged an independent accounting firm to perform a financial statement audit. Upon completion of the audit, the organization has amended their Form 990 to reflect the restated financial information. The changes are reflected in the following forms and schedules: Form 990 Page 1, Part I: Lines 8, 9, 12, 15, 17, 18, 19, 20, 21, 22 Form 990 Page 2, Part III: Lines 4a, 4e Form 990 Page 3, Part IV: Line 11f Form 990 Page 9, Part VIII: Lines 1f, 2a, 2b, 2g, 12 Form 990 Page 10, Part IX: Lines 9, 10, 11b, 11g, 12, 13, 24, 25 Form 990 Page 11, Part X: Lines 3, 15, 16, 17, 25, 26, 27, 28, 32, 33 Form 990 Page 12, Part XI: Lines 1, 2, 3, 5, 9, 10 Form 990 Page 12, Part XII, Line 2b Schedule A, Part II, Section A: Line 1 Schedule A, Part II, Section B: Lines 7, 11 Schedule D Part IX Other Assets & Part X Other Liabilities Schedule D Part XIII Supplemental Information Schedule I Grants and other Assistance to Organizations, Governments, and Individuals in the United States