Georgia Business Council Inc

Georgia Minority Supplier Development Council Inc

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 581828236 ✦ Atlanta, GA ✦ Designated as a 501(c)(3)

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Overview

What is Georgia Business Council Inc?

Georgia Business Council Inc, located at 759 W Peachtree Street NE Suite 107, Atlanta, GA 30308, is a nonprofit organization dedicated to fostering and expanding economically beneficial partnerships between Certified Minority Business Enterprises (MBEs), corporations, and government entities within Georgia. Their primary activity is organizing the Business Opportunity Expo (BOE), the largest trade show of its kind in the state, providing a platform for concentrated interaction between procurement professionals and ethnic minority suppliers. The BOE includes state-of-the-art development sessions, workshops, MBE/corporate matching sessions, internationally recognized speakers, and an extensive business marketing trade show floor. By facilitating these connections, Georgia Business Council Inc aims to help build a stronger and more inclusive business environment in Georgia.


Official website here: www.gmsdc.org

What are the reviews and ratings of this charity?

Rating from Charity Navigator: 56% (One-Star out of Four Star rating)

The Georgia Business Council Inc has received a One-Star rating from Charity Navigator, with a score of 56%. This rating indicates significant concerns regarding the organization’s financial health and program efficiency. While the council showcases strong governance practices, including a fully independent board and robust oversight policies, its financial performance—particularly its program expense ratio—is notably low, raising questions about the effectiveness of its resource allocation.

The organization appears to excel in areas of accountability and transparency, as evidenced by its compliance with various internal control policies and the presence of an audit and oversight committee. However, the low program expense ratio of 34.94% suggests that a substantial portion of its funding may not be directed towards its core mission and programs. Additionally, the liabilities to assets ratio of 4.04% indicates potential concerns regarding financial stability that could affect the council's operations and sustainability.

Overall, the Georgia Business Council Inc demonstrates strengths in governance and transparency, yet serious limitations in financial performance and program expenditure may hinder its impact. Prospective donors and stakeholders should consider these factors when evaluating the organization’s overall effectiveness and potential for meaningful contributions to its mission.


This AI summary has been generated from information found on Charity Navigator.

What do the Facebook reviews say about Georgia Business Council Inc?

Though currently there is limited feedback available for Georgia Business Council Inc, one review indicates a positive experience. The reviewer appreciated the event's overall atmosphere, remarking on the quality of the food and the program offered. They expressed a strong recommendation, suggesting that the organization provides enjoyable experiences for its participants.

Overall, the sentiment leans towards satisfaction, highlighting a successful event with a focus on quality and enjoyment. As more reviews come in, a clearer picture of the nonprofit's impact and services may emerge.


This AI summary has been generated from reviews found on Facebook.

Is Georgia Business Council Inc legitimate?

Georgia Business Council Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Georgia Business 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: $229,326
Professional Fundraising Fees: $0
Other Salaries and Wages: $377,684

For more financial information, click here


Official website here: www.gmsdc.org

What is the mission statement of Georgia Business Council Inc?

The Georgia Business Council Inc's mission is to facilitate mutually beneficial economic opportunities between Certified Minority Business Enterprises (MBEs) and corporations, as well as government entities, within the state of Georgia. This organization aims to contribute to building a stronger business community by doing so. One of their significant initiatives is organizing the Business Opportunity Expo (BOE), the largest trade show in Georgia, which offers networking opportunities, development sessions, workshops, and a bustling trade show floor for hundreds of exhibitors and participants. The BOE provides a platform for procurement professionals to connect with ethnic minority suppliers, fostering potential business collaborations.


Official website here: www.gmsdc.org

Who is the CEO of Georgia Business Council Inc?

Stacey Key is the Board Member of Georgia Business Council Inc. The CEO's salary of Georgia Business Council Inc is $229,327 and their total compensation is $259,576.


Official website here: www.gmsdc.org

What is the revenue of Georgia Business Council Inc?

Georgia Business Council Inc's revenue in 2022 was $2,064,280.


Official website here: www.gmsdc.org

Who are the executives of Georgia Business Council Inc and what are their salaries?

There 10 volunteers at Georgia Business Council Inc.


Here are 18 key members and their salaries (Georgia Business Council Inc's CEO's salary is $229,327 and their total compensation is $259,576):


Douglas Burrell (Board Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
Tremese Davis (Board Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
Nedra Dickson (Board Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
Tracey Grace (Board Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
Mathieu Bradier (Board Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
Raven Smith (Board Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
Dan Mcnally (Board Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
David Braxton (Board Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
Wassell Lewis (Vice Chairman)
  • Compensation: $0
  • Related: $0
  • Other: $0
Valerie Nesbitt (Board Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
Lauren Costley (Board Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ken Taunton (Board Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
Fernando Hernandez (Board Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
Keith Ambersley (Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Clovice Vaughn (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Wassell Lewis (Vice Chairman)
  • Compensation: $0
  • Related: $0
  • Other: $0
Vicki Irwin-Avery (Chairman)
  • Compensation: $0
  • Related: $0
  • Other: $0
Stacey Key (President & Ceo)
  • Compensation: $229,327
  • Related: $0
  • Other: $30,249


Official website here: www.gmsdc.org

Where can I find the form 990 for Georgia Business Council Inc?

Georgia Business Council Inc's most recent form 990 was submitted in 2022 and can be accessed here.


Official website here: www.gmsdc.org

Learn more at the official website: www.gmsdc.org

Mission Statement of Georgia Business Council Inc

Georgia Business Council Inc, in its mission, works towards fostering and expanding mutually beneficial economic opportunities between Certified Minority Business Enterprises (MBEs) and corporations, as well as government entities, within the state of Georgia. Its goal is to help build a stronger business environment by doing so. One of its significant initiatives is the Business Opportunity Expo (BOE), which is the largest trade show of its kind in Georgia. This event offers concentrated interaction between procurement professionals and ethnic minority suppliers, state-of-the-art development sessions and workshops, MBE/corporate matching sessions, and a business marketing trade show floor with hundreds of exhibitors and participants. By facilitating these connections, Georgia Business Council Inc aims to promote economic growth and equality for minority-owned businesses in the state.

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Impact




July, 2024

Georgia Business Council Inc's impact can be seen in its efforts to foster and expand mutually beneficial economic opportunities between certified minority business enterprises (MBEs), corporations, and government entities within the state of Georgia. Through initiatives like the Business Opportunity Expo (BOE), which is the largest trade show of its kind in the state, the organization facilitates concentrated interaction between procurement professionals and ethnic minority suppliers. The BOE also includes state-of-the-art development sessions and workshops, MBE/corporate matching sessions, internationally known speakers and experts, and a business marketing trade show floor with hundreds of exhibitors and participants.

Overall, Georgia Business Council Inc plays a crucial role in promoting economic growth, fostering collaboration, and advancing opportunities for minority businesses in Georgia.




This information is meant to be a general summary of Georgia Business 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.

Revenue
$2,064,280 (2022)
201120122013201420152016201720182019202020212022$0$550k$1.1M$1.65M$2.2M
Expenses
$1,569,432 (2022)
201120122013201420152016201720182019202020212022$0$400k$800k$1.2M$1.6M
Efficiency
2011201220132014201520162017201820192020202120220%8%16%24%38%

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $1,263
  • Program Service Revenue: $1,077,455
  • Gross Receipts: $2,123,959

Assets and Liabilities:

  • Total Assets: $3,032,497
  • Total Liabilities: $122,515
  • Net Assets: $2,909,982

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

FEES INCOME

Revenue

$486,425

SPECIAL EVENTS-PROGRAMATIC

Revenue

$239,875

SPECIAL EVENTS - OTHER

Revenue

$66,000

CONTRACT SERVICE INCOME

Revenue

$285,155

Organization Details

Founding Year

1987

Principal Officer

Stacey Key

Main Address

759 W PEACHTREE STREET NE SUITE 107, ATLANTA, GA, 30308

NTEE Category

Code: S43 - Community improvement

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