Overview
What is North Central Minority Supplier Devlopment Council?
The North Central Minority Supplier Development Council is a nonprofit organization situated in Minneapolis, Minnesota. Its primary mission is to foster business opportunities for Minority Business Enterprises (MDEs) by offering workshops, panel discussions, and networking events in collaboration with corporate members and government entities. Through its Business Opportunity Exchange program, the council aims to help minority businesses expand their operations and build strong partnerships with corporations. The organization's core activity involves providing business development services to both corporate members and certified minority business enterprises, ultimately aiming to enhance relationships and maximize business opportunities.
Official website here: www.northcentraslmsdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 40%, Zero-Star out of Four Star rating.
The North Central Minority Supplier Development Council has received a low score of 40%, indicating significant concerns regarding its accountability and financial practices. Notably, the organization lacks independent board members, which raises questions about governance and oversight. Additionally, critical governance documents like the conflict of interest policy, whistleblower policy, and document retention policy are missing, further contributing to the low rating.
While the organization shows a program expense ratio of 58.41%, which suggests that it allocates a majority of its expenses towards programming, the absence of financial statements and proper documentation limits transparency. The liabilities to assets ratio is at 26.55%, indicating a manageable level of liabilities, but the overall lack of independent oversight and financial reporting casts doubt on the organization's operational integrity.
Overall, the North Central Minority Supplier Development Council has significant room for improvement, especially in enhancing its governance practices and financial disclosure. Stakeholders may want to exercise caution and seek further information before engaging with or supporting the organization.
This AI summary has been generated from information found on Charity Navigator.
Is North Central Minority Supplier Devlopment Council legitimate?
North Central Minority Supplier Devlopment Council is a legitimate nonprofit organization registered as a 501(c)(3) entity. North Central Minority Supplier Devlopment 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: $148,741
Professional Fundraising Fees: $0
Other Salaries and Wages: $201,171
For more financial information, click here
Official website here: www.northcentraslmsdc.org
What is the mission statement of North Central Minority Supplier Devlopment Council?
The North Central Minority Supplier Development Council's mission is centered around facilitating opportunities for minority-owned businesses. Specifically, their objective is to foster business development services for both corporate members and certified minority business enterprises. By doing so, they aim to strengthen relationships and maximize business opportunities for all parties involved. Their approach includes organizing workshops, panel discussions, and networking events through their Business Opportunity Exchange program, offering a platform for corporate members, government entities, and Minority Business Enterprises (MDEs) to connect and collaborate.
Official website here: www.northcentraslmsdc.org
Who is the CEO of North Central Minority Supplier Devlopment Council?
Heather Olson is the CEO of North Central Minority Supplier Devlopment Council The CEO's salary of North Central Minority Supplier Devlopment Council is $148,741 and their total compensation is $166,310.
Official website here: www.northcentraslmsdc.org
What is the revenue of North Central Minority Supplier Devlopment Council?
North Central Minority Supplier Devlopment Council's revenue in 2023 was $2,086,637.
Official website here: www.northcentraslmsdc.org
Who are the executives of North Central Minority Supplier Devlopment Council and what are their salaries?
The average compensation at North Central Minority Supplier Devlopment Council during 2023 was $87,478. There are 4 employees and 30 volunteers at North Central Minority Supplier Devlopment Council.
Here are 22 key members and their salaries (North Central Minority Supplier Devlopment Council's CEO's salary is $148,741 and their total compensation is $166,310):
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Official website here: www.northcentraslmsdc.org
Where can I find the form 990 for North Central Minority Supplier Devlopment Council?
North Central Minority Supplier Devlopment Council's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.northcentraslmsdc.org
Learn more at the official website: www.northcentraslmsdc.org
Mission Statement of North Central Minority Supplier Devlopment Council
The North Central Minority Supplier Development Council, in essence, is an organization committed to providing a platform for the growth and expansion of businesses owned by minorities. Its mission is twofold: firstly, it offers business development services to corporate members, aiming to foster strong relationships and maximize potential business opportunities. Secondly, it caters to certified minority business enterprises (MBEs), providing them with the necessary tools and resources to engage with corporate partners and expand their ventures. This is accomplished through the Business Opportunity Exchange, a program that offers workshops, panel discussions, and networking events, allowing corporate members, government entities, and MBEs to connect and collaborate effectively.
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Impact
October, 2024
The North Central Minority Supplier Development Council (NCMSDC) significantly impacts the growth and success of minority-owned businesses by facilitating valuable connections between these enterprises and corporate partners. By organizing programs like the Business Opportunity Exchange, NCMSDC creates a platform for workshops, panel discussions, and networking opportunities, enabling minority business enterprises (MBEs) to enhance their visibility and access to potential clients.
Through its commitment to providing business development services, NCMSDC strengthens relationships between corporate members and certified MBEs, ensuring that minority suppliers have the tools and resources necessary to compete and thrive in various industries. This proactive approach not only fosters economic growth within minority communities but also contributes to a more diverse and inclusive supply chain, benefiting the broader business landscape. Overall, NCMSDC plays a crucial role in empowering minority businesses, driving innovation, and promoting equitable business practices in the region.
This information is meant to be a general summary of North Central Minority Supplier Devlopment 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 2023.
- Investment Income: $1,438
- Program Service Revenue: $210,240
- Gross Receipts: $2,106,528
Assets and Liabilities:
- Total Assets: $658,383
- Total Liabilities: $174,805
- Net Assets: $483,578
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CERTIFICATOIN
Revenue
$116,500
OTHER EVENT INCOME
Revenue
$85,490
BUSSINESS OPPORTUNITY
Revenue
$8,250
Organization Details
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