National Veteran Business Development Council
- Assets
- $302.8k
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 10
- Location
- Detroit, MI
- Founding
- 04/2014
- Data as of
- 12/2021
- EIN
- 46-2033413
Organization Overview
National Veteran Business Development Council, operating under the name Nvbdc, is located in Detroit, MI. The organization was established in 2014. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 12/2021, Nvbdc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nvbdc 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, Nvbdc generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 46.8% each year . All expenses for the organization totaled $1.7m during the year ending 12/2021. While expenses have increased by 45.7% per year over the past 6 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
THE NATIONAL VETERAN BUSINESS DEVELOPMENT COUNCIL (NVBDC) WAS CREATED TO ACHIEVE THE FOLLOWING MISSIONS: 1. CERTIFY VETERAN OWNED BUSINESSES (VOB'S) AND SERVICE DISABLED VETERAN OWNED BUSINESSES (SDVOB'S) THAT WISH TO DO BUSINESS WITH AMERICAN COMPANIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREATED AND LAUNCHED CUSTOM DATA TO COMPLETE THE AUTOMATION FOR CERTIFICATION OF VETERAN OWNED BUSINESSESS (VOB'S) AND SERVICE DISABLED VETERAN OWNED BUSINESSES (SDVOB'S). CREATED AND LAUNCHED CUSTOM PORTAL FOR THE CORPORATIONS TO REVIEW THE CAPABILITY STATEMENTS AND CONTACT INFORMATION OF THE VOB'S, SDVOB'S, AND TO CONTACT THEM. WE HAVE COMPLETED OVER 400 VOB'S/SDVOB'S CERTIFICATIONS INCLUDING AS REQUIRED, THE ON SITE VISITS TO CONFIRM THE INFORMATION SUBMITTED. ATTENDED MANY EVENTS, SPECIFICALLY TO DELIVER PRESENTATIONS TO VOB'S, SDVOB'S AND CORPORATIONS ON THE VALUE OF CERTIFICATIONS. CONDUCTED TWO LIVE CONFERENCES. CREATED AND PRESENTED SEVERAL WEBINARS. CREATED NEW VETERAN SCHOLARSHIP PROGRAM. CONTINUED TO UPGRADE OUR ONLINE CERTIFICATION PROGRAM AND CERTIFIED OVER 800 VOB'S TO DATE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith King CEO | Officer | 55 | $55,500 |
Kathryn Poynton Director | Trustee | 30 | $42,250 |
Charles R Brown CPA Treasurer | 55 | $42,002 | |
Richard Miller President | Officer | 40 | $42,001 |
Annette Stevenson Director | Trustee | 30 | $34,250 |
Robert Middleton Treasurer | Officer | 30 | $31,644 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,900 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,239,182 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,246,082 |
| Total Program Service Revenue | $398,667 |
| Investment income | $0 |
| 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 | $1,678,177 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $233,332 |
| 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. | $322,660 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $42,002 |
| Other salaries and wages | $337,834 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $29,080 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $61,682 |
| Fees for services: Accounting | $10,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $167,426 |
| Advertising and promotion | $19,120 |
| Office expenses | $53,955 |
| Information technology | $39,652 |
| Royalties | $0 |
| Occupancy | $76,847 |
| Travel | $32,342 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $63,493 |
| Interest | $113 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,335 |
| Insurance | $77,300 |
| All other expenses | $3,844 |
| Total functional expenses | $1,719,162 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300,414 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $2,385 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $302,799 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $302,799 |
| Total liabilities and net assets/fund balances | $302,799 |
Grants Awarded
Over the last fiscal year, National Veteran Business Development Council has awarded $205,132 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
VOCS VARIOUS CERTIFICATIONS PURPOSE: CERTIFICATION FEES | $104,490 |
VETERANS DOCUMENTARY PURPOSE: DOCUMENTARY | $25,000 |
VETERANS RADIO AMERICA PURPOSE: VETERANS RADIO ST | $24,750 |
FEDERAL RESERVE MATCHING DONATION PURPOSE: MATCHING DONATION | $16,255 |
GANNETT GRANT FULFILLMENT PURPOSE: CERTIFICATION FEES | $10,900 |
DARTMOUTH COLLEGE PURPOSE: SCHOLARSHIP X 2 | $9,800 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that National Veteran Business Development Council has recieved totaling $44,500.
| Awarding Organization | Amount |
|---|---|
Wayne State Univ Research & Techno- Logy Park In The City Of Detroit Detroit, MI PURPOSE: CDAD MINI GRANT | $42,000 |
Double 4 Foundation Casper, WY PURPOSE: CERTIFY VETERAN OWNED BUSINESSES (VOBS) AND SERVICE DISABLED VETERAN OWNED BUSINESSES (SDVOBS) THAT WISH TO DO BUSINESS WITH AMERICAN COMPANIES | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nbi-Sems Inc Altoona, WI | $32,056,887 | $23,539,455 |
Eleven Fifty Academy Inc Indianapolis, IN | $2,885,301 | $14,569,317 |
Newton Services Foundation Inc Flint, MI | $3,036,249 | $10,428,739 |
Council For Adult And Experiental Learning Indianapolis, IN | $4,495,606 | $4,303,081 |
Van Andel Institute Graduate School Grand Rapids, MI | $1,492,760 | $4,853,861 |
Kelley Executive Education Foundation Inc Bloomington, IN | $1,125,624 | $3,371,150 |
Education And Training Connection Midland, MI | $2,969,193 | $3,353,333 |
Columbus Literacy Council Columbus, OH | $1,481,733 | $3,063,188 |
Evansville Plumbers Apprentice Training Trust Fund Evansville, IN | $3,497,630 | $2,319,217 |
Inforum Detroit, MI | $3,977,241 | $2,035,446 |
West Michigan Center For Arts And Technology Grand Rapids, MI | $9,239,729 | $2,613,350 |
Western Great Lakes Finishing Trades Institute Madison, WI | $1,218,551 | $1,952,776 |