Louisiana Minority Business Council Inc

Organization Overview

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.

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.


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Board, Officers & Key Employees

Name (title)Compensation
Alvin-O Williams
President
$93,500
Rivers Frederick
Chair
$0
Matt Greene
Director
$0
Sarah Hill
Director
$0
Lee Jackson
Director
$0
John James
Director
$0

Financial Statements

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

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