Form 990 for tax year 2024
Filed by NATIONAL MINORITY SUPPLIER DEVELOPMENT COUNCIL INC.
Totals
- Total revenue
- $29,739,144
- Total expenses
- $31,651,666
- Contributions and grants received
- $9,311,718
- Grants paid
- $265,520
- Program service revenue
- $19,879,172
- Investment income
- $179,316
- Other revenue
- $368,938
- Total assets, end of year
- $10,767,642
- Total liabilities, end of year
- $5,322,188
- Net assets or fund balances, end of year
- $5,445,454
- Program services expenses (Part IX)
- $25,231,890
- Management and general expenses
- $6,388,755
- Fundraising expenses
- $31,021
- Program service expenses (Part III)
- $25,231,890
Program services were 79.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$750,000
-
1f · All other contributions, gifts and grants
$8,561,718
-
2a · Program service revenue: MEMBERSHIP DUES
total $14,617,560 · related or exempt $14,617,560
-
2b · Program service revenue: TRADE SHOW AND MEETING FEES
total $4,725,443 · related or exempt $4,725,443
-
2c · Program service revenue: OTHER PROGRAM SERVICE REVENUE
total $268,219 · related or exempt $268,219
-
2d · Program service revenue: REGISTRATION FEES AND TUITIONS
total $267,950 · related or exempt $267,950
-
3 · Investment income
total $179,316 · excluded $179,316
-
11a · Other revenue: CERTIFICATION REVENUE RENEWAL
total $161,000 · related or exempt $161,000
-
11b · Other revenue: PRIOR YEAR ADJUSTMENT
total $106,905 · related or exempt $106,905
-
11c · Other revenue: MISC. REV - OPERATIONS/ADMIN
total $101,033 · related or exempt $101,033
-
11e · Other revenue, total
$368,938
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $265,520 · program services $265,520
-
7 · Other salaries and wages
total $5,355,332 · program services $2,833,222 · management and general $2,516,629 · fundraising $5,481
-
8 · Pension plan contributions
total $189,707 · program services $108,643 · management and general $81,064
-
9 · Other employee benefits
total $589,915 · program services $290,544 · management and general $299,371
-
10 · Payroll taxes
total $399,413 · program services $161,509 · management and general $237,430 · fundraising $474
-
11a · Fees: management
total $4,303,196 · program services $2,619,865 · management and general $1,662,331 · fundraising $21,000
-
11b · Fees: legal
total $109,436 · management and general $109,436
-
11c · Fees: accounting
total $78,393 · management and general $78,393
-
13 · Office expenses
total $213,391 · program services $37,430 · management and general $175,961
-
17 · Travel
total $727,774 · program services $627,185 · management and general $100,589
-
19 · Conferences, conventions and meetings
total $8,051,402 · program services $7,974,438 · management and general $76,964
-
21 · Payments to affiliates
total $9,000,948 · program services $9,000,948
-
22 · Depreciation, depletion and amortization
total $334,864 · program services $74,731 · management and general $259,066 · fundraising $1,067
-
23 · Insurance
total $89,261 · management and general $89,261
-
24a · Other expenses: BAD DEBT EXPENSES
total $988,460 · program services $988,460
-
24b · Other expenses: CREDIT CARD MERCHANT FE
total $226,671 · management and general $226,671
-
24c · Other expenses: SUBSCRIPTIONS
total $160,116 · program services $31,850 · management and general $125,267 · fundraising $2,999
-
24d · Other expenses: LICENSING FEES
total $5,731 · management and general $5,731
-
24e · All other expenses
total $562,136 · program services $217,545 · management and general $344,591
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $630,309 · end of year $566,076
-
2 · Savings and temporary cash investments
beginning of year $4,796,533 · end of year $5,564,963
-
4 · Accounts receivable
beginning of year $3,851,590 · end of year $1,975,901
-
9 · Prepaid expenses and deferred charges
beginning of year $373,624 · end of year $501,426
-
10a · Land, buildings and equipment: cost or other basis
$6,749,370
-
10b · Land, buildings and equipment: accumulated depreciation
$6,719,059
-
10c · Land, buildings and equipment, net
beginning of year $338,386 · end of year $30,311
-
12 · Investments: other securities
beginning of year $3,211,511 · end of year $2,128,965
-
15 · Other assets
beginning of year $21,107 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $4,361,513 · end of year $3,742,063
-
19 · Deferred revenue
beginning of year $1,264,329 · end of year $1,557,227
-
25 · Other liabilities
beginning of year $293,519 · end of year $22,898
-
27 · Net assets without donor restrictions
beginning of year $7,198,699 · end of year $5,340,454
-
28 · Net assets with donor restrictions
beginning of year $105,000 · end of year $105,000
Mission and programs · 2024
Mission
THE NATIONAL MINORITY SUPPLIER DEVELOPMENT COUNCIL ADVANCES BUSINESS OPPORTUNITIES FOR CERTIFIED MINORITY BUSINESS ENTERPRISES AND CONNECTS THEM TO CORPORATE MEMBERS.
-
FIELD SERVICES: OVERSEES THE ACTIVITIES OF NMSDC'S REGIONAL AFFILIATES BY MONITORING THEIR ACTIVITIES, PROGRAMS, EVENTS, AND SERVICE DELIVERY TO ENSURE THE APPLICATION OF UNIFORM STANDARDS OF WORK.
Expenses $10,236,782 · Revenue $14,617,560
-
ANNUAL CONFERENCE & EXCHANGE: CONNECTS NMSDC-CERTIFIED MINORITY BUSINESS ENTERPRISES (MBES) WITH NATIONAL/LOCAL CORPORATE MEMBERS, GOVERNMENT ENTITIES, NONPROFITS, AND OTHER BUYERS TO INCREASE THE INCLUSION OF MBES IN THE U.S. SUPPLY CHAIN. ADDITIONALLY, MBES ARE CONNECTED TO EDUCATION, CAPITAL, CONTRACTS, AND OTHER GROWTH AND DEVELOPMENT ACTIVITIES TO ENSURE MBES ARE POISED AND READY TO ENTER AND EXPAND THEIR PRESENCE IN THE U.S. SUPPLY CHAIN, WHILE NATIONAL/LOCAL CORPORATE MEMBERS ARE CONNECTED TO EDUCATION ON HOW TO EXPAND THEIR SUPPLIER DIVERSITY PROGRAMS.
Expenses $7,187,761 · Revenue $4,725,443
-
"CORPORATE SUCCESS, MBE SERVICES & PROGRAMS:CENTERS OF EXCELLENCE CERTIFICATE PROGRAM: A 12-MONTH INNOVATIVE AND RIGOROUS DIVERSE VENDOR BUSINESS DEVELOPMENT INITIATIVE TO FACILITATE THE DEVELOPMENT AND GROWTH OF NMSDC-CERTIFIED MBES WITH $1 MILLION TO LESS THAN $10 MILLION IN SALES TO BECOME MORE PREPARED TO COMPETE EFFECTIVELY AND WIN LARGER CONTRACTS WITH CORPORATIONS, ANCHOR INSTITUTIONS, AND GOVERNMENT AGENCIES.ACRES: CULTIVATING EQUITY IN BLACK AGRICULTURE: A 12-WEEK PROGRAM DESIGNED TO HELP BLACK MINORITY BUSINESS ENTERPRISES (MBES) IN THE AGRICULTURE INDUSTRY GROW THEIR CAPACITY TO TAKE ON MAJOR NATIONAL CONTRACTS WITH NMSDC CORPORATE MEMBERS.NMSDC CYBERPRO TRAINING NETWORK: AN EXTENSIVE TRAINING CURRICULUM DESIGNED FOR SMALL AND MEDIUM-SIZED BUSINESSES, HELPING THEM ESTABLISH A PRIORITIZED SECURITY PROGRAM FOR RESILIENCE AGAINST CYBER-ATTACKS.EMERGING YOUNG ENTREPRENEURS PROGRAM: A YEAR-LONG PROGRAM CREATED TO SUPPORT GEN Z AND MILLENNIAL MINORITY ENTREPRENEURS BETWEEN THE AGES OF 19-35.MBE CENTER FOR ACCELERATED GROWTH, INNOVATION, AND RESILIENCY: A NEW TRANSFORMATION CENTER, FUNDED IN PART BY THE MINORITY BUSINESS DEVELOPMENT AGENCY (MBDA) CAPITAL READINESS GRANT, TO DELIVER COMPREHENSIVE CONTRACT AND CAPITAL READINESS PROGRAMMING NATIONALLY THROUGH THE NMSDC NETWORK. THE PROGRAM BRINGS TOGETHER NETWORK MEMBERS AS WELL AS LEADING MINORITY BUSINESS NONPROFITS AND GOVERNMENT AGENCIES COMMITTED TO SCALING MBES.CAPITAL MANAGERS PROGRAM: A TRANSFORMATIVE INITIATIVE THAT UNLOCKS A GATEWAY TO THE RESOURCES AND SUPPORT SYSTEM CRITICAL FOR ACHIEVING ENTREPRENEURIAL DREAMS. NMSDC HAS CREATED A COMPREHENSIVE DATABASE OF CAPITAL FIRMS WITH AN ETHNIC MINORITY FOUNDER AND/OR A FOCUS ON THE MINORITY BUSINESS ECOSYSTEM."
Expenses $4,311,327 · Revenue $267,950
-
MINORITY BUSINESS ECONOMIC FORUM: CONNECTS THE MOST INFLUENTIAL POLICYMAKERS, ACADEMICS, BUSINESS, AND COMMUNITY LEADERS IN THE U.S. TO DISCUSS THE SYSTEMIC BARRIERS MBES FACE IN GROWING THEIR BUSINESSES AND CREATING GENERATIONAL WEALTH. THIS EVENT PROVIDES A UNIQUE OPPORTUNITY TO PROPOSE SOLUTIONS TO OVERCOME THOSE BARRIERS AND PROMOTE AN INCLUSIVE ECONOMY THAT WORKS FOR ALL.
Expenses $3,496,020 · Grants $265,520 · Revenue $637,157
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Kendra Burris-AustinKENDRA BURRIS-AUSTIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Terrence ClarkTERRENCE CLARK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Maurice CoffeyMAURICE COFFEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Brian DownerBRIAN DOWNER
TREASURER
- Total calculated
- $0
- Hours/week
- 3
-
Jacqueline DyessJACQUELINE DYESS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tiffany Eubanks-SaundersTIFFANY EUBANKS-SAUNDERS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kala GibsonKALA GIBSON
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 3
-
Paula GlickenhausPAULA GLICKENHAUS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kindle GoodsonKINDLE GOODSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jennifer GuoJENNIFER GUO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
I Javette HinesI JAVETTE HINES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
William KapferWILLIAM KAPFER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Barbara KubickiBARBARA KUBICKI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tarbinlam LafonTARBINLAM LAFON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Firoz LaljiFIROZ LALJI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mike LaphamMIKE LAPHAM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Chris LaydenCHRIS LAYDEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tricia MillerTRICIA MILLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Bonnie NijstBONNIE NIJST
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kennedy OatesKENNEDY OATES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Carlton L OnealCARLTON L ONEAL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jorge PlasenciaJORGE PLASENCIA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Anjali RamakumaranANJALI RAMAKUMARAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
George RichterGEORGE RICHTER
SECRETARY
- Total calculated
- $0
- Hours/week
- 3
-
Regenia R SandersREGENIA R SANDERS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Anu SaxenaANU SAXENA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Phil SeidlerPHIL SEIDLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jennifer ShomentaJENNIFER SHOMENTA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Marvin WashingtonMARVIN WASHINGTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Susanna WebberSUSANNA WEBBER
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 3
-
Gerald YoungbloodGERALD YOUNGBLOOD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ying McGuireYING MCGUIRE
PRESIDENT
- Total calculated
- $556,922
- From this org
- $532,831
- From related orgs
- $0
- Other
- $24,091
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $532,831
- Bonus
- $0
- Other
- $0
- Deferred
- $17,250
- Nontaxable benefits
- $6,841
- Filer's total
- $556,922
-
Pauline GebonPAULINE GEBON
VICE PRESIDENT
- Total calculated
- $272,389
- From this org
- $254,546
- From related orgs
- $0
- Other
- $17,843
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $254,546
- Bonus
- $0
- Other
- $0
- Deferred
- $12,971
- Nontaxable benefits
- $4,872
- Filer's total
- $272,389
-
Stefan BradhamSTEFAN BRADHAM
VICE PRESIDENT
- Total calculated
- $225,028
- From this org
- $211,382
- From related orgs
- $0
- Other
- $13,646
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $211,382
- Bonus
- $0
- Other
- $0
- Deferred
- $10,716
- Nontaxable benefits
- $2,930
- Filer's total
- $225,028
-
Lisa MorrisLISA MORRIS
VICE PRESIDENT
- Total calculated
- $217,670
- From this org
- $201,676
- From related orgs
- $0
- Other
- $15,994
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $201,676
- Bonus
- $0
- Other
- $0
- Deferred
- $10,365
- Nontaxable benefits
- $5,629
- Filer's total
- $217,670
-
Leahanne ThomasLEAHANNE THOMAS
COO
- Total calculated
- $298,208
- From this org
- $280,724
- From related orgs
- $0
- Other
- $17,484
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $280,724
- Bonus
- $0
- Other
- $0
- Deferred
- $13,208
- Nontaxable benefits
- $4,276
- Filer's total
- $298,208
-
Jetheda HernandezJETHEDA HERNANDEZ
SENIOR DIRECTOR
- Total calculated
- $193,687
- From this org
- $179,261
- From related orgs
- $0
- Other
- $14,426
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $179,261
- Bonus
- $0
- Other
- $0
- Deferred
- $9,223
- Nontaxable benefits
- $5,203
- Filer's total
- $193,687
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 13 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202523179349310257
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