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Bgv Foundation

EIN 83-0935942 · Alexandria, VA

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood83 out of 100GovernanceFair55 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

THE MISSION IS TO CREATE ACCESS TO CAPITAL, CAPACITY BUILDING AND EDUCATION FOR UNDER RESOURCED ENTREPRENEURS THAT ENABLES BUSINESS SUSTAINABILITY AND CREATES INTERGENERATIONAL WEALTH FOR A MORE EQUITABLE SOCIETY.

Income
$4.5 million
Spending
$3.9 million
Spent on programs
68%
Reserves
10.8 months of spending
Largest source of income
donations and private grants, 98%
Employees
18
Volunteers
306
Highest pay
$219,411, chief executive officer

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 83 out of 100. Higher than 65% of charities in its peer group (community improvement, $1m to $10m).

  • Reserves

    28 of 35

    Spendable reserves would cover 10.8 months of spending.

  • Debt

    20 of 20

    It owes 1% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 14% of income.

  • Income trend

    5 of 15

    Income fell 19% on the year before.

  • Spending floor

    15 of 15

    68% of spending went to programs and raising each dollar of donations cost 1 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Fair: 55 out of 100. Higher than 9% of charities in its peer group (community improvement, $1m to $10m).

  • Independent board

    18 of 25

    3 of 3 voting board members are independent.

  • Conflict of interest policy

    0 of 15

    Reports no written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    0 of 10

    Did not give the board a copy of this return before filing it.

  • Pay set independently

    0 of 5

    Reports no independent review process for its chief executive's pay.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $2.7 million spent. TO PROVIDE UNDER RESOURCED ENTREPRENEURS WITH ACCESS TO COMMUNITY, EDUCATION AND LEADERSHIP DEVELOPMENT IN ORDER TO MEET BUSINESS MILESTONES THAT LEAD TO ECONOMIC SUCCESS THROUGH ENTREPRENEURSHIP. THE EMERGING LEADERSHIPS FELLOWSHIP (ELF) PROGRAM RECIEVED 381 APPLICATIONS, EXCEEDING ITS GOAL OF 250 BY 131. FROM THIS POOL, 40 APPLICANTS WERE SELECTED TO JOIN THE IMMERSIVE LEADERSHIP PROGRAM, WHICH CONCLUDED IN JUNE 2024. THE NEXTGEN SUMMER COHORT ALSO SAW STRONG ENGAGEMENT, ATTRACTING 183 APPLICATIONS FROM EXCEPTIONAL HBCU STUDENTS. OF THE APPLICATIONS SUBMITTED, 24 SCHOLARS WERE SELECTED TO PARTICIPATE, GAINING CRITICAL ENTREPRENEURIAL KNOWLEDGE AND SKILLS. THE HIGHLY ANTICIPATED BGV PITCH PROGRAM RECEIVED 539 APPLICATIONS ACROSS FOUR BGV ECOSYSTEMS: AUSTIN 5/3/24, CHICAGO 7/11/24, NEW YORK CITY 11/7/24, AND LOS ANGELES 12/5/24. A TOTAL OF 28 FOUNDERS WERE SELECTED TO PARTICIPATE IN THE COMPETITIONS WHERE THEY RECEIVED RESOURCES TO STRENGTHEN THEIR BUSINESS ACUMEN AND CAPITAL READINESS. IN EACH CITY, THE TOP THREEE FINALISTS RECEIVED A CUMULATIVE TOTAL OF $30K, ONE CROWD FAVORITE WAS AWARDED $2,500- TOTALING $10,000 ACROSS ALL CITIES. IN TOTAL, OVER $130K WAS DISTRIBUTED TO SUPPORT GROWING BUSINESSES.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since June 2018.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

  7. Could it be confused with another charity? Worth knowing.

    A much larger organization has a similar name: Folx Foundation Inc (Miami Beach, FL), EIN 86-3600057. If that is the one you meant, check the EIN before giving.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.