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 12/2023, National Minority Supplier Development Council Business Conso employed 8 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 12/2023, National Minority Supplier Development Council Business Conso generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 15.7% each year . All expenses for the organization totaled $1.7m during the year ending 12/2023. While expenses have increased by 9.0% per year over the past 8 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
2023
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.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Sahra Halpern President | OfficerTrustee | 40 | $299,650 |
Jeffrey Underweiser Secretary | OfficerTrustee | 2 | $52,008 |
Natalie Mcgrady Chairperson | OfficerTrustee | 2 | $0 |
Clifford Bailey Vice Chair | OfficerTrustee | 2 | $0 |
Kris Oswold Immediate Past Chair (to Nov '23) | OfficerTrustee | 2 | $0 |
Jennifer Powers Treasurer | OfficerTrustee | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $1,409,150 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $1,409,150 |
Total Program Service Revenue | $517,977 |
Investment income | $95,661 |
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 | $2,022,788 |
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. | $756,523 |
Compensation of current officers, directors, key employees. | $177,600 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $281,902 |
Pension plan accruals and contributions | $5,780 |
Other employee benefits | $89,515 |
Payroll taxes | $57,852 |
Fees for services: Management | $0 |
Fees for services: Legal | $28,936 |
Fees for services: Accounting | $78,850 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $124,462 |
Advertising and promotion | $1,046 |
Office expenses | $70,880 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $23,755 |
Travel | $38,573 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $4,613 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $2,470 |
Insurance | $29,911 |
All other expenses | $7,513 |
Total functional expenses | $1,660,980 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $42 |
Savings and temporary cash investments | $3,298,561 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $215,942 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $3,185,594 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $26,577 |
Net Land, buildings, and equipment | $6,441 |
Investments—publicly traded securities | $693,950 |
Investments—other securities | $561,270 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $77,699 |
Total assets | $8,066,076 |
Accounts payable and accrued expenses | $239,872 |
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 | $3,206,334 |
Other liabilities | $375,729 |
Total liabilities | $3,821,935 |
Net assets without donor restrictions | $2,998,829 |
Net assets with donor restrictions | $1,245,312 |
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 | $8,066,076 |