National Minority Supplier Development Council Business Conso
- Assets
- $4.4m
- Revenue
- $1.6m
- Investments
- $703.9k
- Employees
- 7
- Location
- New York, NY
- Founding
- 05/1986
- Data as of
- 12/2021
- EIN
- 13-3407599
Organization Overview
National Minority Supplier Development Council Business Conso is located in New York, NY. The organization was established in 1986. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, National Minority Supplier Development Council Business Conso employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Minority Supplier Development Council Business Conso is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, National Minority Supplier Development Council Business Conso generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.7% each year . All expenses for the organization totaled $941.6k during the year ending 12/2021. While expenses have increased by 1.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ACCESS TO CAPITAL TO NMSDC COUNCIL CERTIFIED MINORITY BUSINESS ENTRPRENEURS UNABLE TO SECURE FINANCING ON REASONABLE TERMS THROUGH TRADITIONAL LENDING CHANNELS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A NONPROFIT LENDER THAT PROVIDES FINANCING TO CERTIFIED MINORITY-OWNED BUSINESSES THAT ENGAGE IN BUSINESS-RELATED ACTIVITY WITH CORPORATE MEMBERS OF THE NATIONAL MINORITY SUPPLIER DEVELOPMENT COUNCIL AND ITS AFFILIATED REGIONAL COUNCILS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Henry Childs II Chief Fund Manager | Officer | 2 | $172,060 |
Socorro T Vallejo Vp/controller | Officer | 40 | $104,678 |
Ruben Rodriguez Vp, Chief Lending Officer | Officer | 40 | $83,204 |
Sahra Halpern President | Trustee | 2 | $64,952 |
Jeffrey Underweiser Secretary | OfficerTrustee | 2 | $0 |
John S Adams Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $200,685 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,201,150 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,401,835 |
| Total Program Service Revenue | $246,868 |
| Investment income | $435 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,649,138 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $604,610 |
| Compensation of current officers, directors, key employees. | $197,119 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,418 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,493 |
| Payroll taxes | $35,990 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $45,547 |
| Fees for services: Accounting | $39,037 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $73,199 |
| Advertising and promotion | $0 |
| Office expenses | $85,912 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,582 |
| Travel | $1,474 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,745 |
| Insurance | $27,547 |
| All other expenses | $0 |
| Total functional expenses | $941,554 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28 |
| Savings and temporary cash investments | $2,781,689 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $23,303 |
| Net Land, buildings, and equipment | $6,984 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $703,891 |
| Investments—program-related | $855,483 |
| Intangible assets | $0 |
| Other assets | $33,245 |
| Total assets | $4,404,623 |
| Accounts payable and accrued expenses | $89,555 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $375,729 |
| Total liabilities | $465,284 |
| Net assets without donor restrictions | $3,939,339 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,404,623 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that National Minority Supplier Development Council Business Conso has recieved totaling $905,000.
| Awarding Organization | Amount |
|---|---|
National Minority Supplier Development Council Inc New York, NY PURPOSE: WELLS FARGO OPEN FOR BUSINESS GRANT | $905,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Center For Civic Innovation Inc New York, NY | $21,208,939 | $12,582,443 |
Masschallenge Boston, MA | $11,733,602 | $12,993,021 |
Ben Franklin Technology Center Of Southeastern Pennsylvania Philadelphia, PA | $114,107,980 | $9,362,495 |
Entrepreneurship For All Inc Lowell, MA | $9,819,862 | $9,183,052 |
Trenton Business Assistance Corporation Mercerville, NJ | $91,160,866 | $14,574,637 |
Economic Progress Alliance Of Crawford County Meadville, PA | $32,588,545 | $5,037,136 |
Trickle Up Program Inc New York, NY | $7,710,130 | $4,721,602 |
Commonwealth Kitchen Inc Dorchester, MA | $6,037,148 | $6,037,848 |
Manufacturers Resource Center Allentown, PA | $3,950,399 | $3,151,417 |
Spedd Inc Vandergrift, PA | $27,841,148 | $4,019,412 |
World Trade Center Small Business Recovery Fund Inc Albany, NY | $0 | $35,625 |
Latin American Venture Capital Association New York, NY | $0 | $1,998,213 |