Georgia Minority Supplier Development Council
- Assets
- $2.7m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 9
- Location
- Atlanta, GA
- Founding
- 06/1989
- Data as of
- 12/2021
- EIN
- 58-1828236
Organization Overview
Georgia Minority Supplier Development Council, operating under the name Georgia Minority Supplier Development Council Inc, is located in Atlanta, GA. The organization was established in 1989. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Georgia Minority Supplier Development Council Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Georgia 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 12/2021, Georgia Minority Supplier Development Council Inc generated $2.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 3.9% 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 FOSTER AND EXPAND MUTUALLY BENEFICIAL ECONOMIC OPPORTUNITIES BETWEEN CERTIFIED MINORITY BUSINESS ENTERPRISES (MBES) CORPORATIONS, AND GOVERNMENT ENTITIES WITHIN THE STATE OF GEORGIA; AND TO HELP BUILD A STRONGER,
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS OPPORTUNITY EXPO (BOE)- LARGEST TRADE SHOW OF ITS KIND IN THE STATE OF GEORGIA THAT OFFERS CONCENTRATED INTERACTION BETWEEN PROCUREMENT PROFESSIONALS AND ETHNIC MINORITY SUPPLIERS, STATE-OF-THE-ART DEVELOPMENT SESSIONS AND WORKSHOPS, MBE/CORPORATE MATCHING SESSIONS, INTERNATIONALLY KNOWN SPEAKERS AND EXPERTS AND AS BUSINESS MARKETING TRADE SHOW FLOOR OF HUNDREDS OF EXHIBITORS AND PARTICIPANTS.
DEKALB LSBE - PROVIDES BACKEND SUPPORT TO THE CERTIFICATION AND COMPLIANCE ACTIVITIES GMSDC OFFERS TECHNOLOGY TO MOVE FROM PAPER TO ONLINE APPLICATIONS, PROVIDES 24/7 ACCESS TO THE LSBE DATABASE AND REPORTS AND DEVELOPS A COMPLIANCE PROCESS TO ENSURE APPROPRIATE USE OF LSBE'S ON DEKALB AWARDED CONTRACTS.
GMSDC ACADEMY - THE WORKSHOP, TRAINING AND SKILL DEVELOPMENT SIDE OF THE ORGANIZATION. FOCUSED ON FULFILLING THE 'DEVELOP' PHASE OF THE ORGANIZTION'S MISSION, THE ACADEMY HOUSES ALL OF THE TRAINING AND EDUCATION PROGRAMS OFFERED DURING THE YEAR FOR MINORITY BUSINESS ENTERPRISE FIRMS TO CLOSE ANY SKILL GAPS THAT EXIST AND ENHANCE THEIR CHANCES FOR WINNING CONTRACTS IN CORPORATE SUPPLY CHAINS.
ANNUAL MEETINGS, BUSINESS OPPORTUNITY EXPO, MINORITY BUSINESS SUMMIT, MBEIC, INDUSTRY GROUP
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stacey Key President & CEO | OfficerTrustee | 60 | $217,067 |
Keith Ambersley Treasurer | OfficerTrustee | 1 | $0 |
Angela Williams Secretary | OfficerTrustee | 1 | $0 |
Vicki Irwin-Avery Chairman | OfficerTrustee | 1 | $0 |
Douglas Burrell Board Member | Trustee | 1 | $0 |
Darrell Green Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $587,318 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $140,400 |
| All other contributions, gifts, grants, and similar amounts not included above | $500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $728,218 |
| Total Program Service Revenue | $1,073,150 |
| Investment income | $632 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $178,279 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,030,983 |
| 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. | $266,749 |
| Compensation of current officers, directors, key employees. | $160,049 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $322,685 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $53,850 |
| Payroll taxes | $39,253 |
| Fees for services: Management | $190,650 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $36,304 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $83,895 |
| Office expenses | $6,798 |
| Information technology | $45,488 |
| Royalties | $0 |
| Occupancy | $50,000 |
| Travel | $409 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,215 |
| Interest | $0 |
| Payments to affiliates | $42,274 |
| Depreciation, depletion, and amortization | $16,468 |
| Insurance | $12,267 |
| All other expenses | $106,997 |
| Total functional expenses | $1,343,670 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $819,632 |
| Savings and temporary cash investments | $1,453,465 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $83,316 |
| 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 | $4,319 |
| Net Land, buildings, and equipment | $385,665 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $760 |
| Total assets | $2,747,157 |
| Accounts payable and accrued expenses | $138,354 |
| Grants payable | $0 |
| Deferred revenue | $65,000 |
| 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 | $128,669 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $332,023 |
| Net assets without donor restrictions | $2,415,134 |
| 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 | $2,747,157 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Georgia Minority Supplier Development Council has recieved totaling $150,750.
| Awarding Organization | Amount |
|---|---|
Georgia Power Foundation Inc In Receivership Atlanta, GA PURPOSE: COMMUNITY BUSINESS DEVELOPMENT PROGRAM | $100,000 |
National Minority Supplier Development Council Inc New York, NY PURPOSE: SUPPORT TO REGIONAL COUNCIL | $35,000 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $14,750 |
United Community Bank Foundation Inc Greenville, SC PURPOSE: THIS IS AN UNRESTRICTED DONATION. THE ORGANIZATION CAN USE THE FUNDS AS NEEDED IN FURTHERANCE OF ITS CHARITABLE PURPOSE. | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nashville Convention & Visitors Bureau Nashville, TN | $15,667,602 | $21,623,147 |
Motor & Equipment Manufacturers Association Research Triangle Park, NC | $37,966,318 | $17,239,678 |
Gwinnett Convention And Visitors Bureau Inc Duluth, GA | $29,610,598 | $21,705,089 |
Icamr Inc Neocity, FL | $16,807,579 | $18,482,877 |
Nassau-Paradise Island Promotion Board Ltd Plantation, FL | $7,848,897 | $14,831,769 |
Asian American Hotel Owners Association Atlanta, GA | $22,232,306 | $14,292,123 |
Osceola Convention And Visitors Bureau Inc Kissimmee, FL | $12,721,814 | $18,220,107 |
Panama City Beach Convention And Vistors Bureau Inc Panama City Beach, FL | $6,910,172 | $13,906,597 |
Florida Reliability Coordinating Council Tampa, FL | $10,138,227 | $13,874,923 |
Nashville Downtown Partnership Inc Nashville, TN | $5,610,530 | $12,726,748 |
National Cotton Council Of America Cordova, TN | $27,244,437 | $12,698,051 |
Catapult Employers Association Inc Charlotte, NC | $29,062,151 | $11,591,592 |