Louisiana Minority Business Council Inc is located in New Orleans, LA. The organization was established in 1985. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Louisiana Minority Business Council Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Louisiana Minority Business 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 12/2022, Louisiana Minority Business Council Inc generated $1.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $906.3k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (4.1%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE BUSINESS ASSISTANCE TO LOUISIANA BASED CERTIFIED MINORITY COMPANIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSIST MAJOR CORPORATIONS IN THE DEVELOPMENT AND IMPROVEMENT OF MINORITY VENDOR PROGRAMS AND TO BRING MINORITY BUSINESSES INTO MAINSTREAM OF CORPORATE PURCHASING.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Alvin-O Williams President | OfficerTrustee | 40 | $93,500 |
Rivers Frederick Chair | OfficerTrustee | 2 | $0 |
Matt Greene Director | Trustee | 2 | $0 |
Sarah Hill Director | Trustee | 2 | $0 |
Lee Jackson Director | Trustee | 2 | $0 |
John James Director | Trustee | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $35,500 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $743,961 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $779,461 |
Total Program Service Revenue | $223,255 |
Investment income | $42 |
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 | $1,002,758 |
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. | $93,500 |
Compensation of current officers, directors, key employees. | $23,375 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $200,753 |
Pension plan accruals and contributions | $340 |
Other employee benefits | $18,946 |
Payroll taxes | $25,008 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $43,391 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $4,980 |
Advertising and promotion | $20,020 |
Office expenses | $26,192 |
Information technology | $101,318 |
Royalties | $0 |
Occupancy | $74,166 |
Travel | $68,671 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $4,492 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $3,582 |
Insurance | $3,752 |
All other expenses | $9,325 |
Total functional expenses | $906,300 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $222,719 |
Savings and temporary cash investments | $59,145 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $294,369 |
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 | $6,737 |
Net Land, buildings, and equipment | $11,472 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $350 |
Total assets | $594,792 |
Accounts payable and accrued expenses | $47,465 |
Grants payable | $0 |
Deferred revenue | $20,000 |
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 | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $15,158 |
Total liabilities | $82,623 |
Net assets without donor restrictions | $512,169 |
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 | $594,792 |