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Nonprofiteer
← NATIONAL MINORITY SUPPLIER DEVELOPMENT COUNCIL INC

Form 990 for tax year 2023

Filed by NATIONAL MINORITY SUPPLIER DEVELOPMENT COUNCIL INC.

Totals

Total revenue
$31,209,506
Total expenses
$33,120,985
Contributions and grants received
$11,877,419
Grants paid
$172,629
Program service revenue
$18,720,908
Investment income
$153,735
Other revenue
$457,444
Total assets, end of year
$13,223,060
Total liabilities, end of year
$5,919,361
Net assets or fund balances, end of year
$7,303,699
Program services expenses (Part IX)
$27,002,704
Management and general expenses
$5,469,810
Fundraising expenses
$648,471
Program service expenses (Part III)
$27,002,704

Program services were 81.5% 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)

    $1,610,000

  • 1f · All other contributions, gifts and grants

    $10,267,419

  • 2a · Program service revenue: MEMBERSHIP DUES

    total $13,824,010 · related or exempt $13,824,010

  • 2b · Program service revenue: TRADE SHOW AND MEETING FEES

    total $4,868,898 · related or exempt $4,868,898

  • 2c · Program service revenue: GLOBAL LINK

    total $28,000 · related or exempt $28,000

  • 3 · Investment income

    total $153,735 · excluded $153,735

  • 11a · Other revenue: MISC. REV - OPERATIONS/ADMIN

    total $149,055 · related or exempt $149,055

  • 11b · Other revenue: PRIOR YEAR ADJUSTMENT

    total $123,252 · related or exempt $123,252

  • 11c · Other revenue: GROWTH INITIATIVE CERTIFICATION F

    total $74,750 · related or exempt $74,750

  • 11d · All other revenue

    total $110,387 · related or exempt $110,387

  • 11e · Other revenue, total

    $457,444

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $172,629 · program services $172,629

  • 4 · Benefits paid to or for members

    total $63,329 · program services $63,329

  • 5 · Compensation of officers, directors and key employees

    total $1,266,761 · program services $572,748 · management and general $694,013

  • 7 · Other salaries and wages

    total $3,879,291 · program services $1,810,684 · management and general $1,631,233 · fundraising $437,374

  • 8 · Pension plan contributions

    total $148,623 · program services $47,715 · management and general $95,574 · fundraising $5,334

  • 9 · Other employee benefits

    total $458,567 · program services $240,818 · management and general $173,583 · fundraising $44,166

  • 10 · Payroll taxes

    total $339,839 · program services $169,516 · management and general $146,266 · fundraising $24,057

  • 11a · Fees: management

    total $4,113,219 · program services $2,478,486 · management and general $1,527,377 · fundraising $107,356

  • 11b · Fees: legal

    total $134,007 · management and general $134,007

  • 11c · Fees: accounting

    total $72,504 · management and general $72,504

  • 13 · Office expenses

    total $251,953 · program services $128,567 · management and general $122,230 · fundraising $1,156

  • 16 · Occupancy

    total $49,364 · management and general $49,364

  • 17 · Travel

    total $634,903 · program services $479,733 · management and general $130,968 · fundraising $24,202

  • 19 · Conferences, conventions and meetings

    total $9,210,321 · program services $8,963,443 · management and general $246,878

  • 21 · Payments to affiliates

    total $11,507,416 · program services $11,507,416

  • 22 · Depreciation, depletion and amortization

    total $136,899 · program services $107,720 · management and general $28,194 · fundraising $985

  • 23 · Insurance

    total $46,395 · program services $3,080 · management and general $43,315

  • 24a · Other expenses: CREDIT CARD MERCHANT FE

    total $407,334 · program services $163,803 · management and general $243,531 · fundraising $0

  • 24b · Other expenses: SUBSCRIPTIONS

    total $93,690 · program services $46,918 · management and general $43,022 · fundraising $3,750

  • 24c · Other expenses: LICENSING FEES

    total $51,864 · program services $10,239 · management and general $41,625 · fundraising $0

  • 24e · All other expenses

    total $82,077 · program services $35,860 · management and general $46,126 · fundraising $91

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $383,995 · end of year $630,309

  • 2 · Savings and temporary cash investments

    beginning of year $8,998,703 · end of year $4,796,533

  • 4 · Accounts receivable

    beginning of year $2,661,567 · end of year $3,851,590

  • 9 · Prepaid expenses and deferred charges

    beginning of year $245,667 · end of year $373,624

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

    $6,722,581

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

    $6,384,195

  • 10c · Land, buildings and equipment, net

    beginning of year $335,623 · end of year $338,386

  • 12 · Investments: other securities

    beginning of year $3,073,286 · end of year $3,211,511

  • 15 · Other assets

    beginning of year $193,322 · end of year $21,107

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,807,318 · end of year $4,361,513

  • 19 · Deferred revenue

    beginning of year $2,970,385 · end of year $1,264,329

  • 25 · Other liabilities

    beginning of year $1,975,147 · end of year $293,519

  • 27 · Net assets without donor restrictions

    beginning of year $9,034,313 · end of year $7,198,699

  • 28 · Net assets with donor restrictions

    beginning of year $105,000 · end of year $105,000

Mission and programs · 2023

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 $12,613,996 · Grants $38,493 · Revenue $13,188,138

  • 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 $8,096,630 · Revenue $4,477,338

  • STRATEGIC ALLIANCES & 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 $4,967,137 · Grants $134,136 · Revenue $1,512,876

  • 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 $1,324,941

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • SUE BHATIA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KENDRA BURRIS-AUSTIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • HARVEY BUTLER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DEREK B CANTEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GABRIEL CASTRO

    SECRETARY

    Total calculated
    $0
    Hours/week
    3

  • BRIAN DOWNER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JACKIE DYESS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • STEPHEN FREEMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KALA GIBSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CLINT W GRIMES

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • HEATHER HERNDON WRIGHT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • STEPHEN L HIGHTOWER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • VICKIE IRWIN-AVERY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM KAPFER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • STACEY KEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHRIS LAYDEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARIA LEPORE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SHASHI MANDAPATY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • NANCY MCGUIRE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DAVID MCMURRAY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BONNIE NIJST

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TANYA NIXON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CARLTON L ONEAL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LEON RICHARSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GEORGE RICHTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • REGENIA R SANDERS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GUY SCHWEPPE

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    3

  • STAN SENA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOSE TURKIENICZ

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    3

  • SUSANNA WEBBER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • YING MCGUIRE

    PRESIDENT

    Total calculated
    $527,932
    From this org
    $499,569
    From related orgs
    $0
    Other
    $28,363
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $437,769
    Bonus
    $61,800
    Other
    $0
    Deferred
    $16,500
    Nontaxable benefits
    $11,863
    Filer's total
    $527,932

  • JOHNATHAN JENNINGS

    DIRECTOR UNTIL EARLY 2023

    Total calculated
    $0
    Hours/week
    1

  • FARRYN MELTON

    DIRECTOR UNTIL MARCH 16, 2023

    Total calculated
    $0
    Hours/week
    1

  • MIGUEL GONZALEZ

    DIRECTOR UNTIL MAY 15, 2023

    Total calculated
    $0
    Hours/week
    1

  • PAULINE GEBON

    VICE PRESIDENT

    Total calculated
    $238,650
    From this org
    $215,847
    From related orgs
    $0
    Other
    $22,803
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $215,847
    Bonus
    $0
    Other
    $0
    Deferred
    $10,940
    Nontaxable benefits
    $11,863
    Filer's total
    $238,650

  • STEFAN BRADHAM

    VICE PRESIDENT

    Total calculated
    $191,169
    From this org
    $172,010
    From related orgs
    $0
    Other
    $19,159
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,010
    Bonus
    $0
    Other
    $0
    Deferred
    $7,296
    Nontaxable benefits
    $11,863
    Filer's total
    $191,169

  • LISA MORRIS

    VICE PRESIDENT

    Total calculated
    $210,800
    From this org
    $177,321
    From related orgs
    $0
    Other
    $33,479
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $177,321
    Bonus
    $0
    Other
    $0
    Deferred
    $9,122
    Nontaxable benefits
    $24,357
    Filer's total
    $210,800

  • LEAHANNE THOMAS

    COO

    Total calculated
    $264,252
    From this org
    $246,949
    From related orgs
    $0
    Other
    $17,303
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $246,949
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $17,303
    Filer's total
    $264,252

  • FERNANDO MARTINEZ

    VICE PRESIDENT

    Total calculated
    $249,873
    From this org
    $240,935
    From related orgs
    $0
    Other
    $8,938
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $215,935
    Bonus
    $25,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $8,938
    Filer's total
    $249,873

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

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202413199349307466

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