Overview
What is Memphis Area Minority Contractors?
Memphis Area Minority Contractors is a nonprofit organization committed to supporting small construction contractors in their pursuit of obtaining Tennessee state licenses. Established within a statewide program, they offer various services, including training and guidance. Their operations involve managing several expenses, such as consulting fees, bank charges, membership dues, insurance costs, and travel expenses. Funds are also allocated for program activities, operations, merchant services, repairs, and providing meals and entertainment for their members. Memphis Area Minority Contractors plays an integral role in empowering minority contractors in the construction industry.
Is Memphis Area Minority Contractors legitimate?
Memphis Area Minority Contractors is a legitimate nonprofit organization registered as a 501(c)(3) entity. Memphis Area Minority Contractors submitted a form 990EZ, 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.
What is the mission statement of Memphis Area Minority Contractors?
Memphis Area Minority Contractors serves a crucial role by offering diverse services, primarily focusing on training for small construction contractors aiming to obtain Tennessee state licenses. The organization is affiliated with a broader statewide program and incurs various expenses such as consulting fees, bank charges, dues, and subscription costs, as well as insurance premiums and travel expenses related to meetings. A portion of their funds is allocated towards program activities, operational expenses, merchant services, and necessary repairs. Furthermore, Memphis Area Minority Contractors also sets aside resources for meals and entertainment for their members. Despite not having a clearly stated mission statement, it can be inferred that their primary goal is to support and empower minority contractors in the construction industry through training and various services.
Who is the CEO of Memphis Area Minority Contractors?
Unavailable
What is the revenue of Memphis Area Minority Contractors?
Memphis Area Minority Contractors's revenue in 2022 was $104,669.
Who are the executives of Memphis Area Minority Contractors and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990EZ for Memphis Area Minority Contractors?
Memphis Area Minority Contractors's most recent form 990EZ was submitted in 2022 and can be accessed here.
Mission Statement of Memphis Area Minority Contractors
Memphis Area Minority Contractors, as an organization, is dedicated to providing assistance to small construction contractors aiming to obtain Tennessee state licenses. Its mission is to offer training and support, serving as a partner in a statewide program. The organization incurs various expenses, including consulting fees, bank service charges, dues and subscriptions, insurance costs, and travel/meeting expenses, to ensure the success of its initiatives. Additionally, Memphis Area Minority Contractors allocates funds for program activities, operations, merchant services, and repairs, demonstrating its commitment to providing comprehensive support to its members. Beyond financial investments, the organization also spends on meals and entertainment for its members, fostering a sense of camaraderie and shared purpose within the community.
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Impact
October, 2024
Memphis Area Minority Contractors significantly impacts the local construction industry by empowering small construction contractors, particularly minority-owned businesses, to gain the necessary training for Tennessee state licensing. This training is crucial as it enables these contractors to operate legally and effectively within the state, fostering a more inclusive business environment.
By providing resources such as consulting services, the organization helps contractors navigate the complexities of licensing and compliance, ultimately enhancing their capabilities and competitiveness in the marketplace. Furthermore, their investment in program activities and operational support elevates the quality of services that these contractors can offer, contributing to community improvement and economic growth.
In addition to training, Memphis Area Minority Contractors fosters a sense of community among its members through networking opportunities, meetings, and events that encourage collaboration and knowledge sharing. This strong network not only bolsters individual contractor success but also strengthens the overall construction landscape in Memphis, paving the way for more diverse and resilient economic development in the region.
This information is meant to be a general summary of Memphis Area Minority Contractors. 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: $79,669
- Gross Receipts: $104,669
Assets and Liabilities:
- Total Assets: $23,654
- Total Liabilities: $0
- Net Assets: $23,654
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Organization Details
Main Address
480 DOCTOR MLK JR DR, Memphis, TN, 38126
NTEE Category
Code: S00 - Community improvement
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