Public Charity

BAC Funding Corporation

BAC Funding Corporation is a nonprofit organization categorized as Public Charity based in MIAMI, FL. Its most recent IRS filing (2024) reports revenue of $3.9M, expenses of $3.8M, total assets of $11.9M. Imperigo tracks 3 reported grant relationships connected to this organization totaling approximately $48K.

EIN: 592196535 MIAMI, FL Urban & Community Economic Development NTEE: S31 Latest filing: 2024

Organization Summary

Grant Records 3

Filing History 2019–2024

Funding Total $48K

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Financial Snapshot · 2024

Total Revenue $3.9M

Total Expenses $3.8M

Total Assets $11.9M

Total Revenue$3.9M

Total Expenses$3.8M

Total Assets$11.9M

Grant Records3

Funding Total$48K

Filing Years2019–2024

Mission

BAC Funding Corporation ("BAC or Corporation"), a nonprofit organization, is an outgrowth of the Business Revitalization Action Committee of the Greater Miami Chamber of Commerce ("GMCC"). BAC was formed in April 1982, to help stimulate the economic growth of Liberty City. The objective of BAC is to develop and expand new and existing businesses for minority group residents of Miami-Dade County, Florida. These objectives are met by extending credit to new and existing businesses within Miami-Dade County, Florida.

Where $100 goes at BAC Funding Corporation

How BAC Funding Corporation divides every $100 it spends, from its own Form 990 filings, averaged across 7 years.

$91 Programs the work itself

$9 Management running the organization

$0 Fundraising none reported

No fundraising costs are reported. That often means fundraising runs through a separate affiliated organization that files its own return.

Inside the $91 for programs

$78

Martin Luther King (MLK) Building Project

85% of program spending

The Business Incubator

5% of program spending

BAC Funding Corporation was formed to foster growth of existing African American owned enterprises and is dedicated to provide capital resources to assist in the long range development…

About 5% (cost not reported)

Plus 1 more program. Cost per person served and the full program breakdown are on the full profile.

Source: Form 990 filings with the IRS, latest fiscal year 2024. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.

Sample Grants Received

MIGHTYCAUSE CHARITABLE FOUNDATION

2024

UNRESTRICTED

$5,610

THE MIAMI FOUNDATION INC

2023

PROGRAM SUPPORT

$18,000

THE MIAMI FOUNDATION INC

2020

PROGRAM SUPPORT

$23,916

Showing up to 5 of 3 total records — full history available with membership.

Officers & Directors

Director Eric Knowles

Director James Dillard

Controller Jessie Houston Ii

Director John Hall

Director Leonard Garrett

Director Linda Bryant

Officer compensation and complete director data available with membership.

Top Grant Purposes

General Support

$47,526 3 grants

Financial Trends

Year	Revenue	Expenses	Assets
2024	$3.9M	$3.8M	$11.9M
2023	$3.9M	$3.6M	$13.1M
2022	$4.1M	$3.6M	$16.4M
2020	$4.9M	$4.7M	$18.9M
2019	$968K	$756K	$20.0M

Between 2019 and 2024, reported annual revenue grew from $968K to $3.9M (+308%), with total assets most recently reported at $11.9M.

Interactive year-over-year charts and full filing details available with membership.

See the full picture for BAC Funding Corporation

Complete financials, all 3 grant records, officer compensation, year-over-year trend charts, a geographic grant map, and data exports — across 880,000+ organizations.

Full Financial History Complete Grant Activity Officer Compensation Year-over-Year Charts Geographic Grant Map Data Exports