Form 990 for tax year 2022

Filed by NORTH CENTRAL MINORITY SUPPLIER DEV.

Totals

Total revenue: $944,500
Total expenses: $947,526
Contributions and grants received: $709,500
Grants paid: $0
Program service revenue: $230,261
Investment income: $498
Other revenue: $4,241
Total assets, end of year: $658,383
Total liabilities, end of year: $174,805
Net assets or fund balances, end of year: $483,578
Program services expenses (Part IX): $560,667
Management and general expenses: $374,323
Fundraising expenses: $12,536
Program service expenses (Part III): $560,667

Program services were 59.2% 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

$450,072
1e · Government grants (contributions)

$250,000
1f · All other contributions, gifts and grants

$9,428
2a · Program service revenue: Certification

total $117,883 · related or exempt $117,883
2b · Program service revenue: Annual Meeting

total $37,325 · related or exempt $37,325
2c · Program service revenue: Buisness Oppertunity

total $31,903 · related or exempt $31,903
2d · Program service revenue: Industry Group

total $25,550 · related or exempt $25,550
2e · Program service revenue: Other Event Income

total $17,600 · related or exempt $17,600
3 · Investment income

total $498 · related or exempt $498
11a · Other revenue: E Check Authorization

total $4,241 · related or exempt $4,241
11e · Other revenue, total

$4,241

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $120,000 · program services $91,200 · management and general $25,200 · fundraising $3,600
7 · Other salaries and wages

total $185,449 · program services $140,942 · management and general $38,944 · fundraising $5,563
8 · Pension plan contributions

total $2,385 · management and general $2,385
9 · Other employee benefits

total $36,070 · program services $27,413 · management and general $7,575 · fundraising $1,082
10 · Payroll taxes

total $25,618 · program services $19,469 · management and general $5,380 · fundraising $769
11b · Fees: legal

total $8,482 · management and general $8,482
11c · Fees: accounting

total $39,729 · management and general $39,729
11g · Fees: other

total $146,537 · management and general $146,537
13 · Office expenses

total $1,803 · management and general $1,803
16 · Occupancy

total $50,719 · program services $38,546 · management and general $10,651 · fundraising $1,522
17 · Travel

total $19,539 · management and general $19,539
19 · Conferences, conventions and meetings

total $7,050 · management and general $7,050
22 · Depreciation, depletion and amortization

total $2,262 · management and general $2,262
23 · Insurance

total $2,725 · management and general $2,725
24a · Other expenses: Event Expenses

total $243,097 · program services $243,097
24b · Other expenses: Dues, Licemses, and Sub

total $29,026 · management and general $29,026
24c · Other expenses: Communication

total $14,951 · management and general $14,951
24d · Other expenses: Bank and Credit Card Fe

total $9,419 · management and general $9,419
24e · All other expenses

total $2,665 · management and general $2,665

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $560,025 · end of year $592,639
2 · Savings and temporary cash investments

beginning of year $20,829 · end of year $20,866
4 · Accounts receivable

beginning of year $67,960 · end of year $29,850
9 · Prepaid expenses and deferred charges

beginning of year $12,881 · end of year $14,349
10a · Land, buildings and equipment: cost or other basis

$65,053
10b · Land, buildings and equipment: accumulated depreciation

$61,949
10c · Land, buildings and equipment, net

beginning of year $5,365 · end of year $3,104
15 · Other assets

beginning of year $4,100 · end of year -$2,425
17 · Accounts payable and accrued expenses

beginning of year $49,854 · end of year $44,288
19 · Deferred revenue

beginning of year $107,750 · end of year $83,850
25 · Other liabilities

beginning of year $872 · end of year $46,667
27 · Net assets without donor restrictions

beginning of year $474,684 · end of year $445,578
28 · Net assets with donor restrictions

beginning of year $38,000 · end of year $38,000

Mission and programs · 2022

Mission

To provide Business development services to corporate members and certified minority business enterprises to enhance relationships and maximize buienss opportunties.

Activities or mission (Part I)

To provide Minority businesses with the oppertunity for businesses with corporate partners and to expand there business.

Buisness Oppertunity Exchange - this program proivdes corportate members, goverment entites, and Minority Business Enterprises (MDE's) with workshops, panel dicussions, and networking opportunities.

Expenses $23,897 · Revenue $31,903
Industrial Verticals -

Expenses $24,905 · Revenue $25,550
Annual Meeting and Recption - this program is designed to be informative and provide networking opportunities to stregthen collaborations between corporations and Minority Businesss Enterprises. (2021 meeting numbers)

Expenses $19,887 · Revenue $37,325
OTher Program services include other events to support the business developent of corportae memebers.

Expenses $491,978

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

Listed in Part VII

Heather Olson

President/ CEO

Total calculated

$0

Hours/week

40
Minoo Seifoddini

Director

Total calculated

$0

Hours/week

1
Timothy Wright

Director

Total calculated

$0

Hours/week

1
Jon Segal

Director

Total calculated

$0

Hours/week

1
Alice Robera-Davis

Director

Total calculated

$0

Hours/week

1
Jay Parker

Director

Total calculated

$0

Hours/week

1
James Garness

Director

Total calculated

$0

Hours/week

1
Hector Martinez

Director

Total calculated

$0

Hours/week

1
Dextra Hadnot

Director

Total calculated

$0

Hours/week

1
Robert Kelly

Director

Total calculated

$0

Hours/week

1
Jessica Lorzano Williams

Director

Total calculated

$0

Hours/week

1
Bud Hanley

Director

Total calculated

$0

Hours/week

1
Christopher Boles

Director

Total calculated

$0

Hours/week

1
Darren Harmon

Director

Total calculated

$0

Hours/week

1
Adonica Randall

MBEIC 2nd Vice Chair

Total calculated

$0

Hours/week

1
Perma Patil

MBEIC 2nd Vice Chair

Total calculated

$0

Hours/week

1
Elizabeth Tran

MBEIC 1st Vice Chair

Total calculated

$0

Hours/week

1
Edna Abernathy

MBEIC Chair

Total calculated

$0

Hours/week

1
Open Position

Treasurer

Total calculated

$0

Hours/week

1
Natalie McGrady

Secretary

Total calculated

$0

Hours/week

1
Lorenzo Bell

Second Vice Chair

Total calculated

$0

Hours/week

1
Veronica Johnson

First Vice Chair

Total calculated

$0

Hours/week

1
John Taylor

Chair

Total calculated

$0

Hours/week

1

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2022
Filed: 13 November 2023
IRS schema version: 2022v5.0
Source object: 202343179349308584

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