Overview
What is Ohio Minority Supplier Development Council?
The Ohio Minority Supplier Development Council is a nonprofit organization situated in Columbus, Ohio. Its primary mission is to certify businesses as minority enterprises and encourage corporations within the state to boost their procurement of goods and services from such companies. To achieve this goal, the council offers educational, managerial, and technical assistance to minority-owned businesses. By serving as a bridge between the corporate buying sector and the minority business community, the Ohio Minority Supplier Development Council aims to support the growth and success of minority-owned enterprises in the state. The organization currently employs a team of six dedicated individuals.
Official website here: www.scomsdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement)
The Ohio Minority Supplier Development Council has received a two-star rating from Charity Navigator, indicating that there are areas requiring improvement. With an overall score of 69%, the organization demonstrates strengths in maintaining an independent board, as evidenced by 100% independent members. Additionally, they have implemented essential governance policies such as conflict of interest and whistleblower policies, which reflect a commitment to accountability.
However, the organization is notably lacking in financial transparency, indicated by the absence of financial statements, which contributed to a low score in that category. While the program expense ratio of 60.41% suggests that a significant portion of their budget is directed towards their programs, improvements in financial documentation and reporting would enhance their accountability and overall rating. The liabilities to assets ratio of 36.02% is a positive aspect, indicating a manageable level of debt compared to their assets.
In summary, while the Ohio Minority Supplier Development Council demonstrates solid governance practices, significant improvements in financial transparency and documentation are necessary to boost their rating and effectiveness as a nonprofit. Continued evaluation and enhancements in these areas could help them better serve their mission and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Ohio Minority Supplier Development Council legitimate?
Ohio Minority Supplier Development Council is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ohio 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: $136,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $326,711
For more financial information, click here
Official website here: www.scomsdc.org
What is the mission statement of Ohio Minority Supplier Development Council?
The Ohio Minority Supplier Development Council's mission is centered around facilitating collaboration between corporations and minority-owned businesses. Their primary objective is to boost the purchase of goods and services from these minority companies. Additionally, they offer educational, managerial, and technical assistance to strengthen the capabilities of these minority businesses. In essence, they act as a liaison, linking the corporate buying sector with the minority business community, thereby fostering growth and opportunities for both parties.
Official website here: www.scomsdc.org
Who is the CEO of Ohio Minority Supplier Development Council?
George R Simms is the Presidentceo of Ohio Minority Supplier Development Council. The CEO's salary of Ohio Minority Supplier Development Council is $136,000 and their total compensation is $136,000.
Official website here: www.scomsdc.org
What is the revenue of Ohio Minority Supplier Development Council?
Ohio Minority Supplier Development Council's revenue in 2022 was $1,055,161.
Official website here: www.scomsdc.org
Who are the executives of Ohio Minority Supplier Development Council and what are their salaries?
The average compensation at Ohio Minority Supplier Development Council during 2022 was $77,118. There are 6 employees and 6 volunteers at Ohio Minority Supplier Development Council.
Here are 19 key members and their salaries (Ohio Minority Supplier Development Council's CEO's salary is $136,000 and their total compensation is $136,000):
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Official website here: www.scomsdc.org
Where can I find the form 990 for Ohio Minority Supplier Development Council?
Ohio Minority Supplier Development Council's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.scomsdc.org
Learn more at the official website: www.scomsdc.org
Mission Statement of Ohio Minority Supplier Development Council
The Ohio Minority Supplier Development Council is dedicated to facilitating collaborative efforts among corporations within the State of Ohio. Its primary mission is to boost the number of purchases of goods and services from businesses owned by minorities. Beyond this, the council also offers educational, managerial, and technical assistance to these minority-owned companies. In essence, the Ohio Minority Supplier Development Council serves as a bridge between the corporate buying sector and the minority business community, aiming to foster mutual growth and prosperity.
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Impact
October, 2024
The Ohio Minority Supplier Development Council significantly impacts the economic landscape by facilitating greater collaboration between corporations and minority-owned businesses. By certifying business enterprises as minority-owned, the council enhances their visibility and access to corporate purchasing opportunities. This strategic alignment not only increases the procurement of goods and services from these businesses but also fosters an inclusive economic environment in which diverse suppliers have the support and resources necessary to thrive.
Through its educational, managerial, and technical assistance programs, the council equips minority entrepreneurs with essential skills and knowledge, empowering them to compete effectively in the marketplace. This commitment to development helps strengthen the capacity of minority businesses, driving growth and innovation within the community.
By serving as a vital link between the corporate sector and minority entrepreneurs, the council plays a crucial role in elevating minority businesses, contributing to economic improvement and diversity in Ohio's business ecosystem.
This information is meant to be a general summary of Ohio 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.
- Program Service Revenue: $227,646
- Gross Receipts: $1,055,161
Assets and Liabilities:
- Total Assets: $599,846
- Total Liabilities: $216,086
- Net Assets: $383,760
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MBE Support and Fees
Revenue
$227,646
Organization Details
Founding Year
1972
Principal Officer
George R Simms
Main Address
100 East Broad Street STE 2460, Columbus, OH, 43215
Website
www.scomsdc.orgNTEE Category
Code: S43Z - Community improvement
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