Michigan Minority Purchasing Council Mmsdc
- Assets
- $6.5m
- Revenue
- $5.4m
- Investments
- $0.0
- Employees
- 21
- Location
- Detroit, MI
- Founding
- 08/1982
- Data as of
- 12/2022
- EIN
- 38-2292187
Organization Overview
Michigan Minority Purchasing Council Mmsdc is located in Detroit, MI. The organization was established in 1982. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Michigan Minority Purchasing Council Mmsdc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan Minority Purchasing Council Mmsdc 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, Michigan Minority Purchasing Council Mmsdc generated $5.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $5.5m during the year ending 12/2022. While expenses have increased by 6.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MICHIGAN MINORITY SUPPLIER DEVELOPMENT COUNCIL ADVANCES BUSINESS OPPORTUNITIES FOR CERTIFIED MINORITY BUSINESS ENTERPRISES AND CONNECTS THEM TO CORPORATE MEMBERS, PROVIDES ACCESS TO PROCUREMENT OPPORTUNITIES AND DEVELOPS CAPACITY FOR MINORITY BUSINESS DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CUSTOMIZED MATCHMAKERS, BUSINESS NETWORKING FORUMS, TRADE FAIRS: CONDUCT FORUMS THROUGHOUT THE YEAR WHICH PROVIDE MINORITY OWNED BUSINESSES THE OPPORTUNITY TO SHOWCASE THEIR PRODUCTS/SERVICES AND INTERACT WITH MAJOR CORPORATIONS AND GOVERNMENT AGENCIES IN AN EFFORT TO FACILITATE AND ENCOURAGE BUYER/VENDOR RELATIONSHIPS THAT RESULT IN INCREASED BUSINESS OPPORTUNITIES FOR MINORITY-OWNED FIRMS. IN A TYPICAL YEAR WE OFFER MORE THAN 200 SESSIONS FOR CORPORATE MEMBERS AND MBES. COLLECTIVELY, WE SERVE OVER 11,000 PARTICIPANTS AND RECEIVE 90% SATISFACTION RATING FOR EACH SESSION. THE ECONOMIC IMPACT WAS $36 BILLION WITH 209,500 JOBS CREATED AND/OR RETAINED.
HELD ANNUAL ACE AWARDS DINNER THAT HONORS MINORITY BUSINESSES AND CORPORATE MEMBERS IN INDUSTRY, GOVERNMENT AND EDUCATION FOR THEIR OUTSTANDING ACCOMPLISHMENTS IN SUPPLIER DIVERSITY. THIS ANNUAL EVENT ATTENDED BY APPROXIMATELY 800 PEOPLE INCREASES CORPORATE AWARENESS OF MINORITY BUSINESS CAPABILITIES AND THEIR DIVERSE AREAS OF EXPERTISE. IT ALSO RECOGNIZES CORPORATE MEMBERS AND MINORITY BUSINESSES FOR THEIR COMMITMENT TO SUPPLIER DIVERSITY AND ENCOURAGES MINORITY SUPPLIER DEVELOPMENT.ALSO, HOSTED THE ANNUAL MICHIGAN MINORITY PROCUREMENT CONFERENCE (MMPC), A 3 DAY EVENT, WHICH INCLUDES A TRADE SHOW, EDUCATIONAL AND MATCHMAKER SESSIONS, IS ATTENDED BY NEARLY 3,000 PEOPLE.
MINORITY BUSINESS DEVELOPMENT/EDUCATIONAL PROGRAMMING: CONDUCT PROFESSIONAL DEVELOPMENT WORKSHOPS AND ONE-ON-ONE CONSULTATIONS THAT PROVIDE INFORMATION AIMED AT PROMPTING GROWTH AND STRENGTHENING MEMBER COMPANY ORGANIZATIONS THROUGH SKILL BUILDING, EFFICIENCY, QUALITY IMPROVEMENT, INDUSTRY DIVERSIFICATION AND SUPPLIER DIVERSITY PROGRAM DEVELOPMENT, AS WELL AS PERSONALIZED ASSISTANCE WITH FINANCIAL PACKAGES, VARIOUS CERTIFICATIONS AND GROWTH STRATEGIES. SERVED MORE THAN 2,000 DISTINCT CORPORATE MEMBERS AND MINORITY BUSINESSES THAT PARTICIPATED IN DEVELOPMENT AND NETWORKING EVENTS.
MINORITY BUSINESS ENTERPRISE (MBE) CERTIFICATION: CONDUCT PRE-CERTIFICATION AND ORIENTATION SESSION TO HELP MINORITY BUSINESSES UNDERSTAND THE BENEFITS AND PROCESS FOR CERTIFICATION; UPON RECEIVING CERTIFICATION HELP BUSINESSES MAXIMIZE THEIR EXPERIENCE. WE CERTIFY MORE THAN 1,250 MINORITY BUSINESS ENTERPRISES (MBES). WE ALSO CONDUCT 13 PRE-CERTIFICATION BRIEFINGS AND NEW MBE ORIENTATION SESSIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andra Rush Board Member | Trustee | 1 | $0 |
Arthur Dudley ESQ Secretary | OfficerTrustee | 1 | $0 |
Arthur Mcclellan Board Member | Trustee | 1 | $0 |
Carla Neff Board Member | Trustee | 1 | $0 |
Dante Crockett Board Member | Trustee | 1 | $0 |
Jeff Morrison Vice-Chairman | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Honigman Llp Attorney | 12/30/22 | $911,371 |
Greenberg Traurig Llp Attorney | 12/30/22 | $673,933 |
Talon Center Owner Llc Rent/landlord | 12/30/22 | $268,689 |
Financial One Accounting Inc Accounting Services | 12/30/22 | $170,228 |
The Wynning Experience Event Planning | 12/30/22 | $105,767 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,587,541 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,153,003 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,030,693 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,771,237 |
| Total Program Service Revenue | $660,271 |
| Investment income | $173,750 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $14,727 |
| Net Income from Fundraising Events | -$199,250 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,420,735 |
| 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. | $1,032,176 |
| Compensation of current officers, directors, key employees. | $30,965 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $590,147 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $151,544 |
| Payroll taxes | $0 |
| Fees for services: Management | $630,690 |
| Fees for services: Legal | $1,704,284 |
| Fees for services: Accounting | $240,659 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $34,880 |
| Fees for services: Other | $399,101 |
| Advertising and promotion | $99,071 |
| Office expenses | $87,116 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $235,718 |
| Travel | $50,777 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,665 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,164 |
| Insurance | $21,804 |
| All other expenses | $34,667 |
| Total functional expenses | $5,471,061 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $575,752 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,347,751 |
| 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 | $57,436 |
| Net Land, buildings, and equipment | $532,176 |
| Investments—publicly traded securities | $4,015,666 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,722 |
| Total assets | $6,546,503 |
| Accounts payable and accrued expenses | $600,644 |
| Grants payable | $0 |
| Deferred revenue | $734,704 |
| 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 | $525,729 |
| Total liabilities | $1,861,077 |
| Net assets without donor restrictions | $2,542,330 |
| Net assets with donor restrictions | $2,143,096 |
| 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 | $6,546,503 |