Overview
What is Mid-States Minority Supplies Development Council Inc?
Mid-States Minority Supplies Development Council Inc is a nonprofit organization that champions the economic prosperity and development of certified Minority Business Enterprises (MBEs). By serving as an advocate, Mid-States MSDC creates opportunities for these businesses to thrive. The council also acts as a bridge, directly connecting corporations that are dedicated to sourcing products and services from Mid-States MSDC-certified MBEs. The organization's mission is geared towards fostering growth and economic well-being for certified MBEs, thereby contributing to a diverse and inclusive business landscape.
Official website here: www.midstatesmsdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 50%, One-Star out of Four Star Rating
The Mid-States Minority Supplies Development Council Inc has received a 50% rating from Charity Navigator, which places it in the one-star category. While the organization shows strong governance features, such as having a fully independent board and no reported material diversion of assets, it faces significant challenges in its financial accountability and transparency.
Strengths include a high percentage of independent board members, an extensive independent board size, and well-audited financial statements. However, the organization falls short in critical areas, such as the absence of a whistleblower policy and the lack of a document retention policy, which are essential for ensuring operational integrity and public trust. Additionally, the organization struggles with its program expense ratio, indicating that a smaller portion of its expenses is directed towards its mission-related activities.
The liabilities to assets ratio is also concerning, suggesting potential financial stability issues. Overall, while the council has a solid governance structure in place, improvements are necessary in financial transparency and operational policies to enhance its effectiveness and reliability in serving its mission.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Mid-States Minority Supplies Development Council Inc?
96% of 13 reviewers on Facebook recommend Mid-States Minority Supplies Development Council Inc. Here is a summary of their reviews:
Many users express appreciation for the organization's commitment to supporting businesses during the onboarding process. Reviewers highlight the council's dedicated assistance, emphasizing how it has helped them understand the importance of preparation and business development. The level of support received is often described as instrumental to their success.
Overall, the sentiment reflects a strong endorsement of the council's efforts to empower minority suppliers, with many expressing gratitude for the guidance and resources provided.
This AI summary has been generated from reviews found on Facebook.
Is Mid-States Minority Supplies Development Council Inc legitimate?
Mid-States Minority Supplies Development Council Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mid-States Minority Supplies 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: $118,026
Professional Fundraising Fees: $0
Other Salaries and Wages: $213,203
For more financial information, click here
Official website here: www.midstatesmsdc.org
What is the mission statement of Mid-States Minority Supplies Development Council Inc?
The Mid-States Minority Supplies Development Council Inc serves as an advocate, promoting the economic prosperity and expansion of certified Minority Business Enterprises (MBEs). It also acts as a bridge, connecting corporations that are dedicated to procuring goods and services from Mid-States MSDC-certified MBEs. The organization's primary goal is to foster the growth of these businesses, thereby contributing to a diverse and inclusive marketplace.
Official website here: www.midstatesmsdc.org
Who is the CEO of Mid-States Minority Supplies Development Council Inc?
Demetrius Glover is the CEO of Mid-States Minority Supplies Development Council Inc The CEO's salary of Mid-States Minority Supplies Development Council Inc is $78,125 and their total compensation is $79,438.
Official website here: www.midstatesmsdc.org
What is the revenue of Mid-States Minority Supplies Development Council Inc?
Mid-States Minority Supplies Development Council Inc's revenue in 2023 was $1,036,627.
Official website here: www.midstatesmsdc.org
Who are the executives of Mid-States Minority Supplies Development Council Inc and what are their salaries?
The average compensation at Mid-States Minority Supplies Development Council Inc during 2023 was $82,807. There are 4 employees and 24 volunteers at Mid-States Minority Supplies Development Council Inc.
Here are 26 key members and their salaries (Mid-States Minority Supplies Development Council Inc's CEO's salary is $78,125 and their total compensation is $79,438):
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- Compensation: $78,125
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- Other: $1,313
Official website here: www.midstatesmsdc.org
Where can I find the form 990 for Mid-States Minority Supplies Development Council Inc?
Mid-States Minority Supplies Development Council Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.midstatesmsdc.org
Learn more at the official website: www.midstatesmsdc.org
Mission Statement of Mid-States Minority Supplies Development Council Inc
Mid-States Minority Supplies Development Council Inc plays a pivotal role in advocating for the economic prosperity and expansion of certified Minority Business Enterprises (MBEs). This nonprofit organization serves as a bridge, connecting corporations that are dedicated to procurement of goods and services from Mid-States MSDC-certified MBEs. By doing so, Mid-States MSDC aims to foster the growth and stability of these businesses, thereby contributing to a more diverse and inclusive economic landscape.
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Impact
October, 2024
Mid-States Minority Supplies Development Council Inc plays a crucial role in enhancing the economic landscape for minority-owned businesses (MBEs) in the region. By advocating for the growth and well-being of certified MBEs, the organization empowers these businesses to thrive and compete effectively in the marketplace.
It fosters connections between MBEs and corporations that are eager to engage with diverse suppliers, enabling increased business opportunities and fostering a more inclusive procurement process. This direct link not only helps minority-owned businesses gain access to essential resources and partnerships but also promotes diversity within the supply chains of larger corporations.
The efforts of the Mid-States MSDC contribute to community improvement by driving economic development, creating jobs, and enhancing the overall vitality of the local economy. By focusing on the specific needs and challenges faced by minority-owned enterprises, the organization reinforces the importance of diversity in business, leading to a more equitable economic environment in Indianapolis and beyond.
This information is meant to be a general summary of Mid-States Minority Supplies 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 2023.
- Investment Income: $15,045
- Gross Receipts: $1,159,682
Assets and Liabilities:
- Total Assets: $1,699,795
- Total Liabilities: $1,152,238
- Net Assets: $547,557
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Organization Details
Founding Year
1979
Principal Officer
Demetrius Glover
Website
www.midstatesmsdc.orgNTEE Category
Code: S43 - Community improvement
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