Mid-South Minority Business Council Continuum Inc
- Assets
- $2.6m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 10
- Location
- Memphis, TN
- Founding
- 06/1991
- Data as of
- 12/2023
- 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. As of 12/2023, Mid-South Minority Business Council Continuum Inc employed 10 individuals. 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 12/2023, Mid-South Minority Business Council Continuum Inc generated $1.1m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.9%) per year over the past 9 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
2023
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 | $157,700 |
Gary Rosenfield Director | Trustee | 2 | $0 |
Keith Norman Director | Trustee | 2 | $0 |
Raajkumar S Kurapati Director | Trustee | 2 | $0 |
Leticia W Towns Director | Trustee | 2 | $0 |
Larry Fogarty Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $49,414 |
| All other contributions, gifts, grants, and similar amounts not included above | $990,296 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,039,710 |
| Total Program Service Revenue | $67,691 |
| Investment income | $230 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $17,327 |
| 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 | $1,124,958 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $475,918 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $46,120 |
| Payroll taxes | $38,256 |
| Fees for services: Management | $0 |
| 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 | $26,422 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $14,812 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,743 |
| Interest | $48,255 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $111,736 |
| Insurance | $414 |
| All other expenses | $576,289 |
| Total functional expenses | $1,347,631 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $597,194 |
| Savings and temporary cash investments | $1,139,602 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $37,999 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,927 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $22,887 |
| Net Land, buildings, and equipment | $755,400 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,556,009 |
| Accounts payable and accrued expenses | $3,349 |
| Grants payable | $0 |
| Deferred revenue | $144,577 |
| 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 | $449,227 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $597,153 |
| Net assets without donor restrictions | $1,958,856 |
| 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 | $2,556,009 |