Form 990 for tax year 2024
Filed by CAROLINAS-VIRGINIA MINORITY SUPPLIER DEVELOPOMENT COUNCILS INC.
Totals
- Total revenue
- $1,447,676
- Total expenses
- $1,478,982
- Contributions and grants received
- $536,173
- Grants paid
- $0
- Program service revenue
- $893,429
- Investment income
- $18,074
- Other revenue
- $0
- Total assets, end of year
- $1,708,679
- Total liabilities, end of year
- $151,391
- Net assets or fund balances, end of year
- $1,557,288
- Program services expenses (Part IX)
- $1,166,064
- Management and general expenses
- $146,060
- Fundraising expenses
- $166,858
- Program service expenses (Part III)
- $1,166,064
Program services were 78.8% 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
$107,700
-
1f · All other contributions, gifts and grants
$428,473
-
2f · All other program service revenue
total $893,429 · unrelated business $0 · excluded $0
-
3 · Investment income
total $18,074 · unrelated business $18,074 · excluded $0
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $555,294 · program services $388,705 · management and general $55,530 · fundraising $111,059
-
8 · Pension plan contributions
total $82,115 · program services $57,481 · management and general $8,211 · fundraising $16,423
-
9 · Other employee benefits
total $1,510 · program services $1,057 · management and general $151 · fundraising $302
-
10 · Payroll taxes
total $41,702 · program services $29,192 · management and general $4,170 · fundraising $8,340
-
11b · Fees: legal
total $1,391 · program services $0 · management and general $1,391 · fundraising $0
-
11c · Fees: accounting
total $35,650 · program services $0 · management and general $35,650 · fundraising $0
-
12 · Advertising and promotion
total $12,046 · program services $12,046 · management and general $0 · fundraising $0
-
14 · Information technology
total $45,591 · program services $45,591 · management and general $0 · fundraising $0
-
16 · Occupancy
total $37,440 · program services $26,208 · management and general $3,744 · fundraising $7,488
-
17 · Travel
total $59,745 · program services $56,634 · management and general $3,111 · fundraising $0
-
19 · Conferences, conventions and meetings
total $335,957 · program services $320,204 · management and general $15,753 · fundraising $0
-
20 · Interest
total $361 · program services $253 · management and general $36 · fundraising $72
-
22 · Depreciation, depletion and amortization
total $2,070 · program services $1,449 · management and general $207 · fundraising $414
-
24a · Other expenses: AWARDS,RECOGNITION
total $4,000 · program services $4,000 · management and general $0 · fundraising $0
-
24b · Other expenses: MEMBERSHIP DUES
total $6,787 · program services $6,787 · management and general $0 · fundraising $0
-
24c · Other expenses: PUBLIC RELATIONS & MARKETING
total $134,054 · program services $134,054 · management and general $0 · fundraising $0
-
24e · All other expenses
total $123,269 · program services $82,403 · management and general $18,106 · fundraising $22,760
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $795,500 · end of year $823,329
-
2 · Savings and temporary cash investments
beginning of year $737,873 · end of year $771,842
-
4 · Accounts receivable
beginning of year $101,103 · end of year $94,000
-
9 · Prepaid expenses and deferred charges
beginning of year $15,586 · end of year $15,586
-
10a · Land, buildings and equipment: cost or other basis
$72,716
-
10b · Land, buildings and equipment: accumulated depreciation
$69,794
-
10c · Land, buildings and equipment, net
beginning of year $5,002 · end of year $2,922
-
15 · Other assets
beginning of year $1,000 · end of year $1,000
-
17 · Accounts payable and accrued expenses
beginning of year $13,893 · end of year $110,391
-
19 · Deferred revenue
beginning of year $34,500 · end of year $41,000
-
27 · Net assets without donor restrictions
beginning of year $1,527,671 · end of year $1,477,288
-
28 · Net assets with donor restrictions
beginning of year $80,000 · end of year $80,000
Mission and programs · 2024
Mission
CVMSDC Connects MBEs and Corporations to Drive Economic Growth through: Certification, Development, Connection, and Advocacy
-
Added 12 New Corporate Members Added 150 Newly Certified MBEs Launched Cornerstone Foundation to raise funds to support local work Graduated 30 MBE Students from the Development Program
Expenses $1,166,064 · Revenue $893,429
As filed on the 2024 return.
Listed in Part VII
-
Dominique MiltonDOMINIQUE MILTON
PRESIDENT & CEO
- Total calculated
- $177,911
- From this org
- $177,911
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $177,911
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $177,911
-
Debra WhiteDEBRA WHITE
PAST CHAIR
- Total calculated
- $0
- Hours/week
- 2
Schedule J breakdown matched by us
- Base
- $0
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $0
-
Jonathan WilkinsJONATHAN WILKINS
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Cathy WilliamsCATHY WILLIAMS
1ST VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
S Dallas SimmonsS DALLAS SIMMONS
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Andrea HorneANDREA HORNE
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Alex MooreALEX MOORE
MBEIC CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Tj LewisTJ LEWIS
RING CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Andrea HorneANDREA HORNE
RING IST VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Julie RakesJULIE RAKES
RING TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Ashley CampbellASHLEY CAMPBELL
RING
- Total calculated
- $0
- Hours/week
- 1
-
Mia Lloyd SullivanMIA LLOYD SULLIVAN
RING
- Total calculated
- $0
- Hours/week
- 1
-
J Alex AgyemangJ ALEX AGYEMANG
RING
- Total calculated
- $0
- Hours/week
- 1
-
Andrea JohnsonANDREA JOHNSON
MBEIC
- Total calculated
- $0
- Hours/week
- 1
-
Carlo WhiteCARLO WHITE
MBEIC
- Total calculated
- $0
- Hours/week
- 1
-
Kemah WashingtonKEMAH WASHINGTON
MBEIC
- Total calculated
- $0
- Hours/week
- 1
-
Jasmine BeardJASMINE BEARD
MBEIC
- Total calculated
- $0
- Hours/week
- 1
-
Moses FosterMOSES FOSTER
MBEIC
- Total calculated
- $0
- Hours/week
- 1
-
Derrick DavisDERRICK DAVIS
MBEIC
- Total calculated
- $0
- Hours/week
- 1
-
Rick HowardRICK HOWARD
AT LARGE
- Total calculated
- $0
- Hours/week
- 1
-
Lissa MillerLISSA MILLER
AT LARGE
- Total calculated
- $0
- Hours/week
- 1
-
Wendell BrownWENDELL BROWN
AT LARGE
- Total calculated
- $0
- Hours/week
- 1
-
Shatara WeaverSHATARA WEAVER
AT LARGE
- Total calculated
- $0
- Hours/week
- 1
-
Katina AdamsKATINA ADAMS
AT LARGE
- Total calculated
- $0
- Hours/week
- 1
-
Les LambertLES LAMBERT
AT LARGE
- Total calculated
- $0
- Hours/week
- 1
-
Stephanie VeraSTEPHANIE VERA
AT LARGE
- 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. 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
- 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
- 14 May 2025
- IRS schema version
- 2024v5.2
- Source object
- 202533189349310233
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