National Minority Supplier Development Council Inc
- Assets
- $15.9m
- Revenue
- $27.3m
- Investments
- $3.1m
- Employees
- 37
- Location
- New York, NY
- Founding
- 01/1974
- Data as of
- 12/2022
- EIN
- 23-7348220
Organization Overview
National Minority Supplier Development Council Inc is located in New York, NY. The organization was established in 1974. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, National Minority Supplier Development Council Inc employed 37 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. National Minority Supplier Development Council Inc 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 12/2022, National Minority Supplier Development Council Inc generated $27.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.1% each year. All expenses for the organization totaled $26.7m during the year ending 12/2022. While expenses have increased by 6.4% 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.
Since 2021, National Minority Supplier Development Council Inc has awarded 53 individual grants totaling $1,554,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE NATIONAL MINORITY SUPPLIER DEVELOPMENT COUNCIL ADVANCES BUSINESS OPPORTUNITIES FOR CERTIFIED MINORITY BUSINESS ENTERPRISES AND CONNECTS THEM TO CORPORATE MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FIELD SERVICES: OVERSEES THE ACTIVITIES OF 23 AFFILIATED REGIONAL COUNCILS BY MONITORING THEIR ACTIVITIES AND SERVICE DELIVERY AND APPLICATION OF UNIFORM STANDARDS OF WORK.
CENTERS OF EXCELLENCE CERTIFICATE PROGRAM TO BRING TOGETHER THE BEST AND BRIGHTEST MINDS IN SUPPLIER DIVERSITY AND INCLUSION, ACROSS MULTIPLE DISCIPLINES AND REGIONAL AFFILIATE GEOGRAPHIC AREAS.LEARNING PROGRAMS - PROVIDES LEARNING AND EDUCATIONAL PLATFORM FOR CORPORATE MEMBERS, SUPPLIERS AND COUNCILS.CORPORATE PLUS - PROVIDES CORPORATE MEMBERS WITH REFERRALS AND ACCESS TO THE LARGEST MINORITY-OWNED VENDORS IN THE COUNTRY WITH CAPACITY FOR SERVICING NATIONAL CONTRACTS.ACRES PROGRAM - FOCUSED ON CAPACITY BUILDING FOR BLACK FARMERS.
ANNUAL CONFERENCE AND BOE: CONNECTS MINORITY SUPPLIERS AND CORPORATE MEMBERS TO INCREASE POTENTIAL FOR BUSINESS TRANSACTIONS, CONDUCTS EDUCATIONAL SESSIONS. 2022 WAS NMSDC'S 50TH ANNIVERSARY YEAR AND THE CONFERENCE WAS ALSO A CELEBRATION OF THE LEGACY AND WORK OF NMSDC. WORKSHOPS, AND SEMINARS TO ENHANCE VENDOR CAPABILITIES AND SHARE SUPPLIER DIVERSITY BEST PRACTICES.
ECONOMIC FORUM: IN 2022, NMSDC HOSTED ITS INAUGURAL ECONOMIC FORUM. THIS EVENT BRINGS TOGETHER THROUGH LEADERS, PUBLIC OFFICIALS, BRINGING TOGETHER 500 OF THE NATION'S MOST INFLUENTIAL POLICYMAKERS, ACADEMICS, AND BUSINESS AND COMMUNITY LEADERS, FORMING THE NEW VANGUARD IN THE NEXT WAVE OF THE ECONOMIC EQUITY MOVEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sue Bhatia Director | Trustee | 1 | $0 |
Kendra Burris-Austin Director | Trustee | 1 | $0 |
Harvey Butler Director | Trustee | 1 | $0 |
Derek B Cantey Director | Trustee | 1 | $0 |
Gabriel Castro Secretary | OfficerTrustee | 3 | $0 |
Brian Downer Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Heidrick & Struggle Leadership Mgmt Support | 12/30/22 | $309,272 |
Business Talent Group Interim Fte | 12/30/22 | $265,662 |
21st Century Exhibit Hall Mgmt | 12/30/22 | $300,000 |
Happily Event Planning & Mgmt | 12/30/22 | $957,230 |
Abcd Event Planning & Mgmt | 12/30/22 | $2,175,729 |
Financial Statements
| 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 | $9,269,252 |
| Noncash contributions included in lines 1a–1f | $10,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,269,252 |
| Total Program Service Revenue | $17,665,476 |
| Investment income | $173,866 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,777 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,312,876 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $171,500 |
| Grants and other assistance to domestic individuals. | $52,346 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $793,096 |
| Compensation of current officers, directors, key employees. | $793,096 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,926,719 |
| Pension plan accruals and contributions | $109,639 |
| Other employee benefits | $346,803 |
| Payroll taxes | $259,490 |
| Fees for services: Management | $5,491,069 |
| Fees for services: Legal | $174,054 |
| Fees for services: Accounting | $69,748 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $506,169 |
| Information technology | $92,423 |
| Royalties | $0 |
| Occupancy | $661,813 |
| Travel | $580,406 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,881,689 |
| Interest | $0 |
| Payments to affiliates | $9,135,609 |
| Depreciation, depletion, and amortization | $129,919 |
| Insurance | $0 |
| All other expenses | $156,243 |
| Total functional expenses | $26,691,604 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $383,995 |
| Savings and temporary cash investments | $8,998,703 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,661,567 |
| 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 | $245,667 |
| Net Land, buildings, and equipment | $335,623 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,073,286 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $193,322 |
| Total assets | $15,892,163 |
| Accounts payable and accrued expenses | $1,807,318 |
| Grants payable | $0 |
| Deferred revenue | $2,970,385 |
| 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 | $1,975,147 |
| Total liabilities | $6,752,850 |
| Net assets without donor restrictions | $9,034,313 |
| Net assets with donor restrictions | $105,000 |
| 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 | $15,892,163 |
Grants Awarded
Over the last fiscal year, National Minority Supplier Development Council Inc has awarded $168,000 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
CAROLINAS-VIRGINIA MSDC PURPOSE: COECP | $15,000 |
CHICAGO MSDC PURPOSE: COECP | $18,500 |
GEORGIA MSDC PURPOSE: COECP | $18,500 |
MICHIGAN MSDC PURPOSE: COECP | $18,500 |
MID-STATES MSDC PURPOSE: COECP | $18,500 |
MOUNTAIN PLAINS MSDC PURPOSE: COECP | $14,000 |