Overview
What is Connecticut Minority Supplier Development Council?
The Connecticut Minority Supplier Development Council, located at 157 Church Street, 19th Floor, New Haven, CT 06510, is a nonprofit organization committed to supporting minority-owned businesses. Their mission involves facilitating business relationships between these suppliers and major purchasers, thereby aiding in the establishment and promotion of minority-owned companies. They offer financial assistance and business counseling to their members, contributing to their overall growth and success. With a team of 13 dedicated individuals, the council plays a significant role in the business community, fostering opportunities for minority-owned enterprises.
Official website here: www.gnemsdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Stars)
The Connecticut Minority Supplier Development Council has achieved a four-star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization scored exceptionally well in various metrics, such as having a fully independent board and a complete set of governance policies, which contributes to transparency and trustworthiness.
One of the key strengths of the organization is its high program expense ratio of 68.50%, indicating that a significant portion of its resources is allocated directly to its programs. Furthermore, it has no material diversions of assets, which underscores its commitment to financial integrity. This is complemented by a strong liability to assets ratio, showcasing sound financial management.
While the organization excels in its accountability measures and financial health, the data does not provide insights into its programmatic impact or community feedback, which could offer a fuller picture of its effectiveness in serving its mission. Overall, the Connecticut Minority Supplier Development Council comes across as a well-managed and responsible nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Connecticut Minority Supplier Development Council?
100% of the five reviewers on Facebook recommend the Connecticut Minority Supplier Development Council. Here is a summary of their reviews:
All the feedback highlights the positive impact of membership within the council. Users express that being part of the organization has provided valuable resources and opportunities for business growth. Notably, members appreciate the supportive network that the council fosters, which helps in navigating various challenges in the business landscape.
Overall, the organization seems to successfully fulfill its mission of supporting minority suppliers, with members feeling empowered and equipped to thrive in their respective industries.
This AI summary has been generated from reviews found on Facebook.
Is Connecticut Minority Supplier Development Council legitimate?
Connecticut Minority Supplier Development Council is a legitimate nonprofit organization registered as a 501(c)(3) entity. Connecticut Minority Supplier Development Council submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $311,416
Professional Fundraising Fees: $0
Other Salaries and Wages: $631,841
For more financial information, click here
Official website here: www.gnemsdc.org
What is the mission statement of Connecticut Minority Supplier Development Council?
The Connecticut Minority Supplier Development Council's mission is to aid minority-owned businesses in their establishment and promotion. This is achieved by facilitating business relationships between these suppliers and major purchasers. Their activities include offering financial assistance and business counseling to its members, thereby assisting minority entrepreneurs in growing their businesses.
Official website here: www.gnemsdc.org
Who is the CEO of Connecticut Minority Supplier Development Council?
Peter F Hurst Jr is the President & Ceo of Connecticut Minority Supplier Development Council. The CEO's salary of Connecticut Minority Supplier Development Council is $265,000 and their total compensation is $311,416.
Official website here: www.gnemsdc.org
What is the revenue of Connecticut Minority Supplier Development Council?
Connecticut Minority Supplier Development Council's revenue in 2022 was $1,831,252.
Official website here: www.gnemsdc.org
Who are the executives of Connecticut Minority Supplier Development Council and what are their salaries?
The average compensation at Connecticut Minority Supplier Development Council during 2022 was $72,558. There are 13 employees and 17 volunteers at Connecticut Minority Supplier Development Council.
Here are 18 key members and their salaries (Connecticut Minority Supplier Development Council's CEO's salary is $265,000 and their total compensation is $311,416):
- Compensation: $265,000
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- Other: $46,416
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Official website here: www.gnemsdc.org
Where can I find the form 990 for Connecticut Minority Supplier Development Council?
Connecticut Minority Supplier Development Council's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.gnemsdc.org
Learn more at the official website: www.gnemsdc.org
Mission Statement of Connecticut Minority Supplier Development Council
The Connecticut Minority Supplier Development Council, in its mission, aims to assist minority-owned businesses in their establishment and promotion. This is accomplished by fostering business relationships between these minority suppliers and major purchasers. The council's objective is to provide support and opportunities for minority-owned companies, contributing to the growth and success of their enterprises. Additionally, the council offers financial assistance and business counseling to its members, further aiding in their business development.
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Impact
July, 2024
Connecticut Minority Supplier Development Council has had a significant impact on the business landscape in Connecticut by assisting minority-owned companies in establishing and promoting their businesses. Through fostering business relationships between minority suppliers and major purchasers, the council has helped increase opportunities for minority entrepreneurs to succeed in various industries. By providing financial assistance and business counseling to its members, the council has played a crucial role in empowering minorities to grow their businesses and contribute to the economic development of their communities.
This information is meant to be a general summary of Connecticut Minority Supplier Development Council. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$5,157
- Program Service Revenue: $148,400
- Gross Receipts: $2,124,636
Assets and Liabilities:
- Total Assets: $2,034,113
- Total Liabilities: $271,610
- Net Assets: $1,762,503
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RECERTIFICATION AND CERTIFICATION FEES
Revenue
$148,400
Organization Details
Founding Year
1985
Phone
(203) 288-9744Principal Officer
Peter F Hurst Jr
Main Address
157 Church Street 19th Floor, New Haven, CT, 06510
Website
www.gnemsdc.orgNTEE Category
Code: S43Z - Community improvement
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