Overview
What is Chicago Minority Supplier Development Council?
The Chicago Minority Supplier Development Council is a nonprofit organization situated in Chicago, Illinois, specifically at 216 W JACKSON BLVD 600. Their primary mission is to foster opportunities in contracting and financing for Minority Business Enterprises (MBEs), thereby positively impacting their business and ownership prospects. By promoting corporate procurement for the minority business sector, they aim to contribute significantly to this community. With a team of 16 dedicated individuals, the council is committed to its objective, working tirelessly to make a notable difference.
Official website here: www.affiliate.nmsdc.org/chicagomsdc
What are the reviews and ratings of this charity?
Charity Navigator rating: 72%, Two-Star out of Four Star rating.
The Chicago Minority Supplier Development Council has received a Two-Star rating from Charity Navigator, primarily due to its 72% overall score. The organization demonstrates strong accountability and financial practices, notably maintaining a fully independent board and having no material diversion of assets. Their policies on conflicts of interest, whistleblower protections, and document retention are well-documented and available, reflecting a commitment to transparency.
However, the council's program expense ratio is relatively low at 56.95%, which may indicate that a smaller portion of its budget is directed towards its programs compared to its administrative and fundraising expenses. Additionally, while the organization has a solid fundraising efficiency ratio of $0.00, the working capital ratio of 0.24 years raises some concerns about its financial sustainability and ability to cover short-term liabilities.
Overall, while the Chicago Minority Supplier Development Council shows strengths in governance and ethical practices, there are areas for improvement in program expenses and financial health that potential donors may want to consider.
This AI summary has been generated from information found on Charity Navigator.
Is Chicago Minority Supplier Development Council legitimate?
Chicago Minority Supplier Development Council is a legitimate nonprofit organization registered as a 501(c)(3) entity. Chicago 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,326,215
For more financial information, click here
Official website here: www.affiliate.nmsdc.org/chicagomsdc
What is the mission statement of Chicago Minority Supplier Development Council?
The Chicago Minority Supplier Development Council's mission is centered around promoting increased corporate procurement opportunities for businesses owned by minorities. In essence, their goal is to bridge the gap between these minority-owned enterprises and corporate procurement, thereby creating more business opportunities for the former. They provide valuable services, such as identifying potential contracts and financing, which can positively impact the growth and sustainability of minority business enterprises.
Official website here: www.affiliate.nmsdc.org/chicagomsdc
Who is the CEO of Chicago Minority Supplier Development Council?
Thomas Mcleary is the Treasurer of Chicago Minority Supplier Development Council.
Official website here: www.affiliate.nmsdc.org/chicagomsdc
What is the revenue of Chicago Minority Supplier Development Council?
Chicago Minority Supplier Development Council's revenue in 2021 was $3,861,380.
Official website here: www.affiliate.nmsdc.org/chicagomsdc
Who are the executives of Chicago Minority Supplier Development Council and what are their salaries?
The average compensation at Chicago Minority Supplier Development Council during 2021 was $82,888. There are 16 employees at Chicago Minority Supplier Development Council.
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Official website here: www.affiliate.nmsdc.org/chicagomsdc
Where can I find the form 990 for Chicago Minority Supplier Development Council?
Chicago Minority Supplier Development Council's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.affiliate.nmsdc.org/chicagomsdc
Learn more at the official website: www.affiliate.nmsdc.org/chicagomsdc
Mission Statement of Chicago Minority Supplier Development Council
The Chicago Minority Supplier Development Council, as a nonprofit organization, is committed to a mission that aims to boost corporate procurement opportunities for businesses within the minority community. In simpler terms, this council works tirelessly to create and facilitate business prospects and financing opportunities that positively impact the growth of minority-owned enterprises. By providing these opportunities, the council contributes to the empowerment and sustainability of minority businesses, thereby promoting economic diversity and equality.
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Impact
October, 2024
The Chicago Minority Supplier Development Council significantly enhances corporate procurement opportunities for the minority business community in Chicago. By facilitating connections between minority-owned businesses and corporations, the Council fosters an inclusive economic environment that promotes diversity and equity in business.
Its efforts include providing opportunity identification services that help minority business enterprises (MBEs) secure contracts and financing, thereby positively impacting their ownership and operational capabilities. This not only empowers individual businesses but also contributes to broader community improvement by driving economic growth and increasing the representation of minority-owned businesses within the corporate supply chain. The Council's work ultimately helps cultivate a more equitable economic landscape in the region.
This information is meant to be a general summary of Chicago 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 2021.
- Investment Income: $438
- Gross Receipts: $3,861,380
Assets and Liabilities:
- Total Assets: $1,146,742
- Total Liabilities: $210,318
- Net Assets: $936,424
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Organization Details
Founding Year
1968
Phone
(312) 755-8880Principal Officer
Thomas Mcleary
Main Address
216 W JACKSON BLVD 600, CHICAGO, IL, 60606
NTEE Category
Code: S40Z - Community improvement
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