Dallas-Fort Worth Minority Supplier Development Council Inc
- Assets
- $2.2m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 8
- Location
- Dallas, TX
- Founding
- 12/1976
- Data as of
- 12/2023
- EIN
- 75-1522447
Organization Overview
Dallas-Fort Worth Minority Supplier Development Council Inc is located in Dallas, TX. The organization was established in 1976. 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 12/2023, Dallas-Fort Worth Minority Supplier Development Council Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dallas-Fort Worth 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 12/2023, Dallas-Fort Worth Minority Supplier Development Council Inc generated $2.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $2.4m during the year ending 12/2023. While expenses have increased by 8.2% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE DALLAS/FORT WORTH MINORITY SUPPLIER DEVELOPMENT COUNCIL IS TO ENCOURAGE AND FACILITATE PROCUREMENT AND BUSINESS OPPORTUNITIES BETWEEN BUYING-ENTITIES CORPORATIONS AND PUBLIC SECTOR AGENCIES AND CERTIFIED MINORITY BUSINESS ENTERPRISES MBES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE DALLAS/FORT WORTH MINORITY SUPPLIER DEVELOPMENT COUCIL, INC PRODUCES A BUSINESS EXPO ANNUALLY CALLED ACCESS. THE EXPO IS DESIGNED TO HELP THE COUNCIL IN FULFILLING ITS MISSION OF ENCOURAGING AND FACILITATING PROCUREMENT AND BUSINESS OPPORTUNITIES BETWEEN BUYING-ENTITIES CORPORATIONS AND PUBLIC SECTOR AGENCIES AND THE CERTIFIED MINORITY BUSINESS ENTERPRISES. ACCESS 2023 BUSINESS EXPO RESULTS 1500 ATTENDEES, 42 ROUND TABLE SESSIONS700 PARTICOPANTS, 90 STATE AGENCIES, 7.5 MILLION AWARDED AT STATE OF TEXAS SPOT BID FAIR CHAMPIONED BY STATE SENATOR ROYCE WEST.
THE DALLAS/FORT WORTH MINORITY SUPPLIER DEVELOPMENT COUNCIL PRODUCES A RECOGNITION EVENT ANNUALLY ENTITLED E AWARDS. 2023 E AWARDS WAS IN PERSON. THE E IS FOR EXCELLENCE. THE AWARDS CEREMONY RECOGNIZES EXCELLENCE IN MINORITY BUSINESS PERFORMANCE, UTILIZATION AND INCLUSION, ADVOCACY AND VOLUNTEERISM. IN 2023, 1030 ATTENDEES, 12 MEGA AWARDS. DEALS WORTH OVER 10 MILLION ANNUALLY.
THE DALLAS/FORT WORTH MINORITY SUPPLIER DEVELOPMENT COUNCIL PRODUCES HARD HAT A BUSINESS EXPO TARGETED TO THE CONSTRUCTION INDUSTRY. THE D/FW MSDC HARD HAT EVENT IS THE LARGEST IN A FOUR STATE AREA FOCUSED ON CONNECTING OWNERS, GENERAL CONTRACTORS AND SUB-CONTRACTORS WITH CERTIFIED MINORITY BUSINESS CONSTRUCTION ENTITIES. THE 2023 HARD HAT HAD 1025 ATTENDEES CONSISTING OF MAJOR CONTRACTORS, OWNERS, FACILITY MANAGERS, SUBCONTRACTORS AND CERTIFIED MBES. THERE WERE 30 ROUNDTABLES. THERE WERE 110 EXHIBITORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margo J Posey President | OfficerTrustee | 60 | $210,510 |
Andrew D Nash Director Of Operations | Officer | 45 | $114,627 |
Edwin Cruz Certification Manager | Officer | 40 | $50,960 |
Pamela Nelson Director/local Mbeic | OfficerTrustee | 3 | $0 |
Bruce D Collins Chairperson | OfficerTrustee | 1 | $0 |
Don Mckneely Director/historian | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $306,170 |
| Membership dues | $997,157 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,303,327 |
| Total Program Service Revenue | $0 |
| Investment income | $19,482 |
| 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 | $2,332,793 |
| 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. | $677,550 |
| Compensation of current officers, directors, key employees. | $67,755 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $310,349 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $0 |
| Office expenses | $30,367 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $113,190 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $34,356 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,444,125 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,906,747 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $130,811 |
| 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 | $4,050 |
| Net Land, buildings, and equipment | $60,364 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $76,920 |
| Total assets | $2,178,892 |
| Accounts payable and accrued expenses | $100,102 |
| Grants payable | $150,000 |
| Deferred revenue | $571,877 |
| 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 | $821,979 |
| Net assets without donor restrictions | $1,356,913 |
| 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 | $2,178,892 |