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Nonprofiteer
← GEORGIA BUSINESS COUNCIL INC

Form 990 for tax year 2022

Filed by GEORGIA BUSINESS COUNCIL INC.

Totals

Total revenue
$2,064,280
Total expenses
$1,569,432
Contributions and grants received
$769,619
Grants paid
$0
Program service revenue
$1,077,455
Investment income
$1,263
Other revenue
$215,943
Total assets, end of year
$3,032,497
Total liabilities, end of year
$122,515
Net assets or fund balances, end of year
$2,909,982
Program services expenses (Part IX)
$549,183
Management and general expenses
$781,587
Fundraising expenses
$238,662
Program service expenses (Part III)
$549,183

Program services were 35.0% 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.

  • 1b · Membership dues

    $494,789

  • 1e · Government grants (contributions)

    $128,669

  • 1f · All other contributions, gifts and grants

    $146,161

  • 1g · Noncash contributions included above

    $31,161

  • 2a · Program service revenue: FEES INCOME

    total $486,425 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: SPECIAL EVENTS-PROGRAMATIC

    total $239,875 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: SPECIAL EVENTS - OTHER

    total $66,000 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: CONTRACT SERVICE INCOME

    total $285,155 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $1,263 · unrelated business $0 · excluded $1,263

  • 8a · Fundraising events: gross income

    $217,542

  • 8b · Fundraising events: direct expenses

    $59,679

  • 8c · Net income from fundraising events

    total $157,863 · unrelated business $0 · excluded $157,863

  • 11a · Other revenue: OTHER INCOME

    total $8,080 · related or exempt $8,080 · unrelated business $0 · excluded $0

  • 11b · Other revenue: TRADE-OUT INCOME

    total $50,000 · related or exempt $50,000 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $58,080

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $229,326 · program services $45,865 · management and general $137,596 · fundraising $45,865

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $377,684 · program services $176,476 · management and general $138,992 · fundraising $62,216

  • 8 · Pension plan contributions

    total $14,977 · program services $3,560 · management and general $8,615 · fundraising $2,802

  • 9 · Other employee benefits

    total $72,470 · program services $20,489 · management and general $38,282 · fundraising $13,699

  • 10 · Payroll taxes

    total $45,497 · program services $17,603 · management and general $18,631 · fundraising $9,263

  • 11a · Fees: management

    total $206,613 · program services $97,596 · management and general $78,059 · fundraising $30,958

  • 11c · Fees: accounting

    total $40,520 · program services $3,162 · management and general $37,358 · fundraising $0

  • 12 · Advertising and promotion

    total $60,320 · program services $10,328 · management and general $40,908 · fundraising $9,084

  • 13 · Office expenses

    total $22,400 · program services $11,155 · management and general $4,585 · fundraising $6,660

  • 14 · Information technology

    total $54,197 · program services $33,909 · management and general $20,288 · fundraising $0

  • 16 · Occupancy

    total $53,608 · program services $14,830 · management and general $29,809 · fundraising $8,969

  • 17 · Travel

    total $19,283 · program services $3,718 · management and general $13,239 · fundraising $2,326

  • 19 · Conferences, conventions and meetings

    total $51,724 · program services $49,544 · management and general $2,180 · fundraising $0

  • 20 · Interest

    total $112 · program services $0 · management and general $112 · fundraising $0

  • 21 · Payments to affiliates

    total $110,000 · program services $0 · management and general $110,000 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $16,191 · program services $4,534 · management and general $8,905 · fundraising $2,752

  • 23 · Insurance

    total $12,789 · program services $2,463 · management and general $8,719 · fundraising $1,607

  • 24a · Other expenses: PROCESSING FEES & CHARGES

    total $34,810 · program services $12,532 · management and general $11,835 · fundraising $10,443

  • 24b · Other expenses: AUDIO VIDEO PRODUCTION

    total $30,134 · program services $24,280 · management and general $2,005 · fundraising $3,849

  • 24c · Other expenses: PRINTING, GRAPHICS, PHOTOGRAPHY

    total $6,946 · program services $1,404 · management and general $1,915 · fundraising $3,627

  • 24d · Other expenses: DUES AND SUBSCRIPTIONS

    total $7,695 · program services $0 · management and general $3,848 · fundraising $3,847

  • 24e · All other expenses

    total $102,136 · program services $15,735 · management and general $65,706 · fundraising $20,695

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $819,632 · end of year $836,309

  • 2 · Savings and temporary cash investments

    beginning of year $1,453,465 · end of year $1,721,249

  • 4 · Accounts receivable

    beginning of year $83,316 · end of year $67,526

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,319 · end of year $3,923

  • 10a · Land, buildings and equipment: cost or other basis

    $660,736

  • 10b · Land, buildings and equipment: accumulated depreciation

    $258,006

  • 10c · Land, buildings and equipment, net

    beginning of year $385,665 · end of year $402,730

  • 15 · Other assets

    beginning of year $760 · end of year $760

  • 17 · Accounts payable and accrued expenses

    beginning of year $138,354 · end of year $52,515

  • 19 · Deferred revenue

    beginning of year $65,000 · end of year $70,000

  • 23 · Secured mortgages and notes payable

    beginning of year $128,669 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $2,415,134 · end of year $2,909,982

Mission and programs · 2022

Mission

TO FOSTER AND EXPAND MUTUALLY BENEFICIAL ECONOMIC OPPORTUNITIES BETWEEN CERTIFIED MINORITY BUSINESS ENTERPRISES (MBEs) CORPORATIONS, AND GOVERNMENT ENTITIES WITHIN THE STATE OF GEORGIA; AND TO HELP BUILD A STRONGER,

  • BUSINESS OPPORTUNITY EXPO (BOE)- LARGEST TRADE SHOW OF ITS KIND IN THE STATE OF GEORGIA THAT OFFERS CONCENTRATED INTERACTION BETWEEN PROCUREMENT PROFESSIONALS AND ETHNIC MINORITY SUPPLIERS, STATE-OF-THE-ART DEVELOPMENT SESSIONS AND WORKSHOPS, MBE/CORPORATE MATCHING SESSIONS, INTERNATIONALLY KNOWN SPEAKERS AND EXPERTS AND AS BUSINESS MARKETING TRADE SHOW FLOOR OF HUNDREDS OF EXHIBITORS AND PARTICIPANTS.

    Expenses $172,422 · Revenue $135,275

  • DEKALB LSBE - PROVIDES BACKEND SUPPORT TO THE CERTIFICATION AND COMPLIANCE ACTIVITIES GMSDC OFFERS TECHNOLOGY TO MOVE FROM PAPER TO ONLINE APPLICATIONS, PROVIDES 24/7 ACCESS TO THE LSBE DATABASE AND REPORTS AND DEVELOPS A COMPLIANCE PROCESS TO ENSURE APPROPRIATE USE OF LSBE'S ON DEKALB AWARDED CONTRACTS.

    Expenses $204,744 · Revenue $285,155

  • GMSDC ACADEMY - THE WORKSHOP, TRAINING AND SKILL DEVELOPMENT SIDE OF THE ORGANIZATION. FOCUSED ON FULFILLING THE 'DEVELOP' PHASE OF THE ORGANIZTION'S MISSION, THE ACADEMY HOUSES ALL OF THE TRAINING AND EDUCATION PROGRAMS OFFERED DURING THE YEAR FOR MINORITY BUSINESS ENTERPRISE FIRMS TO CLOSE ANY SKILL GAPS THAT EXIST AND ENHANCE THEIR CHANCES FOR WINNING CONTRACTS IN CORPORATE SUPPLY CHAINS.

    Expenses $114,007 · Revenue $10,000

  • MINORITY BUSINESS SUMMIT, MBEIC, INDUSTRY GROUP

    Expenses $58,010 · Revenue $71,000

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Douglas Burrell

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tremese Davis

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Nedra Dickson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tracey Grace

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mathieu Bradier

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Raven Smith

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dan McNally

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • David Braxton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Wassell Lewis

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Valerie Nesbitt

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lauren Costley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ken Taunton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Fernando Hernandez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Keith Ambersley

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Clovice Vaughn

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Wassell Lewis

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Vicki Irwin-Avery

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Stacey Key

    PRESIDENT & CEO

    Total calculated
    $259,576
    From this org
    $229,327
    From related orgs
    $0
    Other
    $30,249
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $180,069
    Bonus
    $49,258
    Other
    $0
    Deferred
    $9,241
    Nontaxable benefits
    $21,008
    Filer's total
    $259,576

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

None.

Answered no

  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202333189349309173

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