The Black Improv Alliance (BIA) is a financially transparent LLC.
What does that mean?
We function much like a non-profit organization, in that our focus is on doing the work of building Black improv community rather than turning a profit. Any money that we raise or make goes right back into the company, and like a non-profit, that includes paying our staff.
However, as a start-up company which is building our way toward a stable, regular income, we're still working toward being able to hire employees and pay them reasonable salaries. In the meantime, the major advantage of being an LLC is that it allows us to supplement our contractors' payments with dividends - meaning, until we can offer them reasonable salaries, we are offering our most dedicated ICs a portion of the proceeds made from corporate work. Being an LLC also allows us to have strong leadership, giving each Director the ability to make autonomous decisions in their areas of focus, rather than having to wait weeks for meetings and discussions each time a decision needs to be made.
To further our mission of community focus and transparency, we have included our Q2 2022 Finance & Direction Report below. This is the same report which was released at BIA's last internal meeting (one line has been redacted - on page 5 we included the name of a potential business to reach out to and have redacted it here because no partnership exists yet).
Inside this report, you'll find a breakdown of how we used our funds in 2021, along with information on BIA's Corporate Structure, Core Principles, and Future Plans. We're looking forward to making 2022 our biggest, best year and we remain grateful for the support of the people who have made our growth possible!
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