Overview
What is National Minority Supplier Development Council Inc?
The National Minority Supplier Development Council Inc, based in New York City, serves as a facilitator for business growth for certified minority business enterprises (MBEs). They oversee the activities of 23 affiliated regional councils, ensuring uniform standards and effective service delivery. The organization's mission lies in creating opportunities for MBEs by connecting them with corporate members. With a team of 37 employees, they monitor council activities and advocate for the advancement of these businesses.
Official website here: www.nmsdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
The National Minority Supplier Development Council Inc has received a commendable Four-Star rating from Charity Navigator, indicating a high level of transparency and effectiveness in their operations. The organization's impressive accountability and finance score of 96 reflects its strong governance practices, including a fully independent board of directors and rigorous financial oversight, which is crucial for maintaining trust with stakeholders.
Strengths highlighted in the evaluation include the absence of material diversion of assets, as well as well-structured policies on conflict of interest and whistleblower protection. Additionally, the organization demonstrates effective management of resources, with a program expense ratio of 81.54%, indicating that a significant portion of its expenditures directly support its mission.
While the data does not indicate any major limitations, the continued emphasis on maintaining and improving governance structures will be essential for sustaining its high rating and further enhancing its impact in minority supplier development. Overall, the council appears to be a well-managed organization committed to its mission.
This AI summary has been generated from information found on Charity Navigator.
Is National Minority Supplier Development Council Inc legitimate?
National Minority Supplier Development Council Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. National Minority Supplier Development Council Inc 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: $793,096
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,926,719
For more financial information, click here
Official website here: www.nmsdc.org
What is the mission statement of National Minority Supplier Development Council Inc?
The National Minority Supplier Development Council functions to expand business prospects for certified minority business enterprises. They serve as a bridge, linking these enterprises with corporate members. The organization's mission is multifaceted: it advances business opportunities and fosters connections between certified minority businesses and corporate entities.
To ensure effective implementation, the Council oversees the activities of 23 affiliated regional councils. This oversight includes monitoring their operations, delivery of services, and adherence to standardized practices. By doing so, the Council maintains consistency and maximizes the impact of its efforts to promote business growth for minority enterprises.
Official website here: www.nmsdc.org
Who is the CEO of National Minority Supplier Development Council Inc?
Ying Mcguire is the Director of National Minority Supplier Development Council Inc.
Official website here: www.nmsdc.org
What is the revenue of National Minority Supplier Development Council Inc?
National Minority Supplier Development Council Inc's revenue in 2022 was $27,312,876.
Official website here: www.nmsdc.org
Who are the executives of National Minority Supplier Development Council Inc and what are their salaries?
The average compensation at National Minority Supplier Development Council Inc during 2022 was $100,536. There are 37 employees and 250 volunteers at National Minority Supplier Development Council Inc.
Here are 43 key members and their salaries:
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Official website here: www.nmsdc.org
Where can I find the form 990 for National Minority Supplier Development Council Inc?
National Minority Supplier Development Council Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nmsdc.org
Learn more at the official website: www.nmsdc.org
Mission Statement of National Minority Supplier Development Council Inc
The National Minority Supplier Development Council, a renowned nonprofit organization, is dedicated to advancing business opportunities for certified minority business enterprises (MBEs). By connecting these enterprises with corporate members, the Council plays a pivotal role in promoting inclusion and diversity in the business world.
In more detail, the National Minority Supplier Development Council operates as a leading intermediary, bridging the gap between corporate America and minority-owned businesses. Through rigorous certification processes, the Council identifies and verifies the authenticity of minority-owned businesses, ensuring their credibility in the corporate sector. By providing this crucial service, the Council opens doors for minority businesses to engage in lucrative business deals with major corporations.
Furthermore, the Council overses the activities of 23 affiliated regional councils. It monitors their operations and delivers services adhering to uniform standards. This centralized approach ensures consistency and effectiveness in the organization's mission to support minority business enterprises. The Council's commitment to maintaining high standards and offering guidance to regional councils is a testament to its unwavering dedication to the growth and success of minority businesses.
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Impact
October, 2024
The National Minority Supplier Development Council Inc significantly enhances business opportunities for certified minority business enterprises (MBEs) by facilitating connections with corporate members. It oversees the activities of 23 affiliated regional councils, ensuring they meet uniform standards while delivering valuable services. This structured support enables minority-owned businesses to thrive in competitive markets, fostering economic growth and diversity within the supply chain. The Council's initiatives not only promote inclusivity in procurement processes but also empower minority entrepreneurs, contributing to a more equitable business landscape.
This information is meant to be a general summary of National Minority Supplier Development Council Inc. 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: $178,643
- Program Service Revenue: $17,665,476
- Gross Receipts: $28,284,831
Assets and Liabilities:
- Total Assets: $15,892,163
- Total Liabilities: $6,752,850
- Net Assets: $9,139,313
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP DUES
Revenue
$13,188,138
REGISTRATION FEES AND TUITIONS
Revenue
$3,765,574
TRADE SHOW AND MEETING FEES
Revenue
$711,764
Organization Details
Founding Year
1973
Phone
(212) 944-2430Principal Officer
Ying Mcguire
Main Address
1345 6TH AVE 2ND FL STE 2049 2050, NEW YORK, NY, 10105
Website
www.nmsdc.orgNTEE Category
Code: A99Z - Arts
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