When Black Equity Alliance was established, the United Way of New York City (UWNYC) indicated its commitment to support this important initiative with a three year, $3.6 million grant ($1.2 million per year for three years). Since this commitment was made, and in the four ensuing years of operation, Black Alliance has received $2.2 million from UNWNYC in operations and program funds, and has been provided with office space and financial management services.
In 2006, the Alliance was awarded grants of $275,000 from United Way of America and $5,000 from Pfizer to help victims of Hurricane Katrina.
With its increasing number of programmatic activities and grantmaking, The Alliance is working to diversify its funding sources, with a Fiscal Year 2008 goal of 20% from corporate and foundation contributors. While we hope that the United Way will continue to be an important partner, our goal is to increase the percentage of our budget from foundations, corporations, individuals and the public sector.
Statement of Activities for the Year Ending June 30, 2006 ( Audited)
(with comparitive totals for 2005)
| 2005 | 2006 | |
|---|---|---|
| Revenue and Other Support: | ||
| Unrestricted | $286,852 | $663,308 |
| Temporarily Restricted | _ | $284,387 |
| Total Revenue | $286,852 | $947,695 |
| Expenses: | ||
| Total Program Expenses | $118,418 | $460,718 |
| Total Management and General | $168,434 | $378,734 |
| Total Expenses | $286,852 | $839,452 |
| Change in Net Assets | _ | $108,243 |
| Net Assets- Beginning of Year | _ | _ |
| Net Assets-End of Year | _ | $108,243 |