Southern California Minority Supplier Development Council Inc
- Assets
- $4.1m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 9
- Location
- Los Angeles, CA
- Founding
- 10/1982
- Data as of
- 12/2023
- EIN
- 95-3244344
Organization Overview
Southern California Minority Supplier Development Council Inc is located in Los Angeles, CA. The organization was established in 1982. 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, Southern California Minority Supplier Development Council Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern California 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, Southern California 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 6.6% each year. All expenses for the organization totaled $1.9m during the year ending 12/2023. While expenses have increased by 6.7% 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
SOUTHERN CALIFORNIA MINORITY SUPPLIER DEVELOPMENT COUNCIL'S (SCMSDC) MISSION IS TO ADVANCE THE ECONOMIC DEVELOPMENT AND BUSINESS OPPORTUNITIES OF DIVERSE SUPPLIERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCMSDC'S VARIOUS SERVICES INCLUDE 1) VALIDATING OWNERSHIP, MANAGEMENT AND CONTROL BY A MINORITY OR A GROUP OF MINORITIES OF AN APPLICANT BUSINESS (MBE CERTIFICATION); 2) DEVELOPING DIVERSE SUPPLIERS THROUGH PROGRAMS AND SERVICES THAT PREPARE THEM TO DO BUSINESS WITH MAJORITY CORPORATIONS AND HELP BUILD THEIR CAPACITY; 3) ADVOCATING ON ISSUES AND CHALLENGES THAT FACE MINORITY BUSINESS SUPPLIERS, AND CONNECTS THEM TO CORPORATE MEMBERS WHOSE PROCUREMENT NEEDS MATCH THEIR PRODUCTS OR SERVICES.THROUGH DELIVERY OF TECHNICAL ASSISTANCE BASED ON RECOMMENDATIONS OF MAJORITY COMPANIES AND THE DIVERSE BUSINESS COMMUNITY, SCMSDC STRATEGICALLY POSITIONS DIVERSE SUPPLIERS TO INCREASE THEIR READINESS, CALIBER, AND ABILITY TO GROW. AMONG SUCH OFFERINGS ARE EDUCATIONAL AS WELL AS PROFESSIONAL DEVELOPMENT PROGRAMS THAT FOCUS ON LEADERSHIP, COMMUNICATIONS, BUSINESS ACUMEN, FINANCE & ACCOUNTING (INCLUDING ACCESS TO CAPITAL), STRATEGIC PLANNING, AND "HOW TO" WORKSHOPS ON A VARIETY OF TOPICS & ISSUES INCLUDING ELECTRONIC REQUEST FOR PROPOSAL WORKSHOPS (ERFP), REVERSE AUCTION SEMINARS & OTHER TANGIBLE PROCUREMENT KNOWLEDGE, AND CONTEMPORARY BUSINESS ISSUES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Virginia Gomez President/ceo | OfficerTrustee | 60 | $162,065 |
Joe Chow Board Chair | OfficerTrustee | 2 | $0 |
Vicky Harper-Hall Vice-Chair | OfficerTrustee | 2 | $0 |
Michael Cooper Treasurer | OfficerTrustee | 2 | $0 |
Jinus Moghbeli Secretary | OfficerTrustee | 2 | $0 |
Luis Armona Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $528,014 |
| Membership dues | $151,417 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $360,163 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,039,594 |
| Total Program Service Revenue | $1,173,111 |
| Investment income | $47,776 |
| 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 | $2,276,055 |
| 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. | $170,059 |
| Compensation of current officers, directors, key employees. | $28,568 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $523,996 |
| Pension plan accruals and contributions | $16,076 |
| Other employee benefits | $102,818 |
| Payroll taxes | $58,028 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,980 |
| Fees for services: Accounting | $103,570 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,583 |
| Fees for services: Other | $140,553 |
| Advertising and promotion | $23,400 |
| Office expenses | $40,710 |
| Information technology | $92,402 |
| Royalties | $0 |
| Occupancy | $401,628 |
| Travel | $42,573 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,724 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,573 |
| Insurance | $7,956 |
| All other expenses | $1,053 |
| Total functional expenses | $1,933,019 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $385,914 |
| Savings and temporary cash investments | $1,467,301 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $196,160 |
| 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 | $0 |
| Net Land, buildings, and equipment | $21,469 |
| Investments—publicly traded securities | $1,991,151 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $49,489 |
| Total assets | $4,111,484 |
| Accounts payable and accrued expenses | $161,897 |
| Grants payable | $0 |
| Deferred revenue | $81,249 |
| 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 | $38,589 |
| Total liabilities | $281,735 |
| Net assets without donor restrictions | $3,650,126 |
| Net assets with donor restrictions | $179,623 |
| 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 | $4,111,484 |