Mid-South Minority Business Council Continuum Inc
- Assets
- $2.4m
- Revenue
- $936.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Memphis, TN
- Founding
- 06/1991
- Data as of
- 12/2021
- EIN
- 62-1198163
Organization Overview
Mid-South Minority Business Council Continuum Inc is located in Memphis, TN. The organization was established in 1991. According to its NTEE Classification (R22) the organization is classified as: Minority Rights, under the broad grouping of Civil Rights, Social Action & Advocacy and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mid-South Minority Business Council Continuum Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Mid-South Minority Business Council Continuum Inc generated $936.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.1%) each year. All expenses for the organization totaled $956.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.9%) per year over the past 7 years. 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
PROMOTE BUSINESS OF MINORITY AND WOMEN
Describe the Organization's Program Activity:
Part 3 - Line 4a
INCREASE THE VOLUME AND DOLLAR AMOUNT OF BUSINESS GENERATED BY MINORITY AND WOMEN OWNED BUSINESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jozelle Booker President/ceo | Officer | 40 | $166,000 |
Gary Rosenfield Director | Trustee | 2 | $0 |
Raajkumar S Kurapati Director | Trustee | 2 | $0 |
Keith Norman Director | Trustee | 2 | $0 |
Charles Burkett Director | Trustee | 2 | $0 |
Laurel Williams Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $210,200 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $700,821 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $911,021 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $15,342 |
| 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 | $936,384 |
| 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. | $427,361 |
| Compensation of current officers, directors, key employees. | $427,361 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $74,758 |
| Payroll taxes | $45,930 |
| Fees for services: Management | $16,562 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,279 |
| Office expenses | $7,837 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,789 |
| Travel | $1,904 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $97,136 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,095 |
| Insurance | $4,348 |
| All other expenses | $223,502 |
| Total functional expenses | $956,407 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $881,823 |
| Savings and temporary cash investments | $1,361,208 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $58,097 |
| 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 | $24,847 |
| Net Land, buildings, and equipment | $85,190 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,411,165 |
| Accounts payable and accrued expenses | $5,000 |
| Grants payable | $0 |
| Deferred revenue | $27,750 |
| 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 | $32,750 |
| Net assets without donor restrictions | $2,378,415 |
| 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 | $2,411,165 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mid-South Minority Business Council Continuum Inc has recieved totaling $13,000.
| Awarding Organization | Amount |
|---|---|
Methodist Lebonheur Healthcare Memphis, TN PURPOSE: 2021 ROBERT R CHURCH LUNCHEON SPONSORSHIP | $13,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Action Council For Minorities In Engineering Inc Alexandria, VA | $24,460,984 | $4,503,129 |
Mid-South Minority Business Council Continuum Inc Memphis, TN | $2,411,165 | $936,384 |
Dedication To Community Charlotte, NC | $48,294 | $453,094 |
Americans For Democracy & Human Rights In Bahrain Inc Mobile, AL | $206,866 | $222,864 |
The George Floyd Memorial Foundation Inc Mooresville, NC | $531,537 | $806,844 |
Mission Mississippi Jackson, MS | $460,822 | $576,251 |
Sandhills Cooperation Association Troy, NC | $244,848 | $396,435 |
Core Network Virginia Beach, VA | $147,344 | $32,250 |
Martin Luther King Jr Association Of Asheville & Buncombe County Asheville, NC | $66,413 | $0 |
Georgia Association Of Minority Entrepreneurs Atlanta, GA | $134,474 | $0 |
No Walls Ministry Inc Lynchburg, VA | $35,022 | $0 |
North Carolina Legislative Black Caucus Foundation Inc Raleigh, NC | $392,264 | $0 |