Houston Minority Business Council Inc
- Assets
- $828.3k
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 10
- Location
- Houston, TX
- Founding
- 09/1996
- Data as of
- 12/2021
- EIN
- 76-0458224
Organization Overview
Houston Minority Business Council Inc, operating under the name Hmsdc, is located in Houston, TX. The organization was established in 1996. 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 12/2021, Hmsdc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hmsdc 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 12/2021, Hmsdc generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. 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
THE MISSION OF HMSDC IS TO ACTIVELY INVOLVE ITS MEMBERS IN EFFORTS THAT WILL INCREASE AND EXPAND BUSINESS OPPORTUNITIES AND BUSINESS GROWTH FOR MINORITY BUSINESS ENTERPRISES AND TO DRIVE EXCELLENCE IN SUPPLIER DIVERSITY AND SUPPLIER DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CERTIFICATION, INFORMATION EXCHANGE, AND NETWORKING - HMSDC IS RESPONSIBLE FOR CERTIFYING MINORITY OWNERSHIP AND MANAGEMENT. IN ADDITION, HMSDC MAINTAINS A DATABASE OF CERTIFIED FIRMS AND THEIR CAPABILITIES. EVENTS SUCH AS EXPO 2021 BUSINESS OPPORTUNITY MARKETPLACE, AND THE QUARTERLY LUNCHEONS PROVIDE MINORITY BUSINESS OWNERS WITH INFORMATION, INSIGHT, AND GUIDANCE IN HOW TO GROW THEIR BUSINESS AND RELATE TO AN EVER CHANGING MARKETPLACE. THESE EVENTSPROVIDE MAJOR CORPORATIONS DIRECT CONTACT WITH MINORITY BUSINESS LEADERS TO INCREASE THEIR SENSITIVITY,UNDERSTANDING, AND SUPPORT. THIS IS ESSENTIAL IN OVERCOMING RACIAL BIASES AND STIMULATING ECONOMIC DEVELOPMENT OF IMPOVERISHED COMMUNITIES. IN 2021, OVER 5,000 INDIVIDUALS ATTENDED THESE EVENTS.
EDUCATION AND DEVELOPMENT - HMSDC PROVIDES LOCAL AND NATIONAL CONFERENCES, SEMINARS, AND WORKSHOPS TO EDUCATE MINORITY BUSINESS OWNERS ON CONTEMPORARY BUSINESS AND MANAGEMENT SKILLSAND TO EDUCATE MAJOR CORPORATIONS ON DIVERSITY ISSUES.
THE MBE EXECUTIVE SCHOLARSHIP PROGRAM RAISES FUNDS, THEN AWARDS THOSE FUNDS TO MINORITY BUSINESS OWNERS TO ENCOURAGE AND FACILIATE THEIR CONTINUED EDUCATION IN AREAS SPECIFIC TO THEIR NEXT STAGE OF BUSINESS DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Haas Board Member | OfficerTrustee | 1 | $0 |
Christine Mack Secretary | OfficerTrustee | 1 | $0 |
Debra Johnson Chairman | OfficerTrustee | 1 | $0 |
Eileen Perillo Treasurer | OfficerTrustee | 1 | $0 |
Bill Keyes Board Member | OfficerTrustee | 1 | $0 |
Ingrid Robinson President | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $131,955 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,003,297 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,135,252 |
| Total Program Service Revenue | $309,950 |
| Investment income | $0 |
| 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 | $1,445,202 |
| 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 | $33,098 |
| 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 | $651,874 |
| 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 | $60,903 |
| Advertising and promotion | $632 |
| Office expenses | $1,230 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $135,962 |
| Travel | $8,509 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $114,198 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $47,324 |
| Insurance | $721 |
| All other expenses | $24,028 |
| Total functional expenses | $1,123,349 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $370,077 |
| Savings and temporary cash investments | $223,561 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $169,012 |
| 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 | $47,477 |
| Net Land, buildings, and equipment | $18,169 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $828,296 |
| Accounts payable and accrued expenses | $109,907 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $152,322 |
| Other liabilities | $0 |
| Total liabilities | $262,229 |
| Net assets without donor restrictions | $566,067 |
| 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 | $828,296 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Houston Minority Business Council Inc has recieved totaling $10,027.
| Awarding Organization | Amount |
|---|---|
Baker Hughes Foundation Houston, TX PURPOSE: GENERAL SUPPORT | $5,000 |
Baker Hughes Foundation Houston, TX PURPOSE: GENERAL SUPPORT | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $27 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Somos Un Pueblo Unido Santa Fe, NM | $2,640,438 | $1,912,963 |
Houston Minority Business Council Inc Houston, TX | $828,296 | $1,445,202 |
Fe Y Justicia Worker Center Houston, TX | $259,650 | $798,913 |
Step Up Louisiana Organizing Fund New Orleans, LA | $620,416 | $992,540 |
North Texas Leaders And Executives Advocating Diversity Fort Worth, TX | $394,256 | $360,574 |
Houston Legal Aid Center Cypress, TX | $125,691 | $314,307 |
San Bois Casa Inc Poteau, OK | $94,675 | $0 |
Hispanic Womens Network Of Texas Austin, TX | $241,029 | $0 |
East Texas Immigrant Advocacy And Resource Tyler, TX | $267,437 | $0 |
Tarrant County Coalition For Peace And Justice Fort Worth, TX | $0 | $0 |