Overview
What is Louisiana Minority Business Council Inc?
Louisiana Minority Business Council Inc, located in New Orleans, Louisiana, serves as a dedicated nonprofit organization. Their primary mission is to aid major corporations in establishing and enhancing minority vendor programs. By doing so, they aim to integrate certified minority businesses into the mainstream of corporate purchasing. This council provides essential business assistance to Louisiana-based minority companies, helping them thrive and grow within the corporate sector. With a team of eight dedicated individuals, they strive to make a significant impact in promoting diversity and inclusivity in the business world.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star Rating
The Louisiana Minority Business Council Inc has achieved an impressive 94% rating from Charity Navigator, reflecting strong accountability and financial health. The organization's high score is solely based on its performance in the Accountability & Finance beacon, where it excels in governance, oversight, and transparency.
The council boasts a majority independent board, with 92% of its members being independent, reinforcing its commitment to effective leadership and oversight. Additionally, the organization has established robust policies, including those for conflict of interest, whistleblowing, and document retention, ensuring sound governance practices are in place.
Financially, the council is in good standing with a low liabilities to assets ratio of 13.89% and a high program expense ratio of 84.49%. This indicates that a significant majority of its budget is directed towards programs and services, which speaks to its mission-driven focus. Overall, the Louisiana Minority Business Council Inc demonstrates strong performance in key areas that are crucial for donor confidence and organizational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Louisiana Minority Business Council Inc legitimate?
Louisiana Minority Business Council Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Louisiana Minority 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: $93,500
Professional Fundraising Fees: $0
Other Salaries and Wages: $200,753
For more financial information, click here
What is the mission statement of Louisiana Minority Business Council Inc?
The Louisiana Minority Business Council Inc's mission is centered around providing assistance to certified minority businesses based in Louisiana. In essence, their role is to aid these companies in navigating the corporate purchasing landscape. Additionally, they work closely with major corporations, helping them establish and enhance their minority vendor programs. The council's ultimate goal is to integrate these minority businesses into the mainstream corporate sector, thereby fostering equal opportunities for growth and development.
Who is the CEO of Louisiana Minority Business Council Inc?
Alvin-O Williams is the President of Louisiana Minority Business Council Inc.
What is the revenue of Louisiana Minority Business Council Inc?
Louisiana Minority Business Council Inc's revenue in 2022 was $1,002,758.
Who are the executives of Louisiana Minority Business Council Inc and what are their salaries?
The average compensation at Louisiana Minority Business Council Inc during 2022 was $36,782. There are 8 employees at Louisiana Minority Business Council Inc.
Here are 13 key members and their salaries:
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Where can I find the form 990 for Louisiana Minority Business Council Inc?
Louisiana Minority Business Council Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Louisiana Minority Business Council Inc
Louisiana Minority Business Council Inc is committed to providing business assistance to certified minority companies based in Louisiana. Their primary mission is to aid these companies in overcoming barriers and integrating them into the mainstream of corporate purchasing. The council works closely with major corporations, assisting them in the development and enhancement of their minority vendor programs. By doing so, Louisiana Minority Business Council Inc plays a significant role in promoting equity and opportunity for minority-owned businesses in the corporate sector.
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Impact
July, 2024
Louisiana Minority Business Council Inc has a significant impact on the business community in Louisiana by providing valuable assistance to certified minority companies. They play a crucial role in helping these businesses thrive and succeed in the corporate world. Additionally, the council works with major corporations to enhance their minority vendor programs, ultimately bringing minority businesses into the mainstream of corporate purchasing. This not only benefits the individual companies involved but also contributes to the overall economic development and diversity of the community.
This information is meant to be a general summary of Louisiana Minority 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.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $42
- Program Service Revenue: $223,255
- Gross Receipts: $1,002,758
Assets and Liabilities:
- Total Assets: $594,792
- Total Liabilities: $82,623
- Net Assets: $512,169
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CERTIFICATION FEES
Revenue
$170,900
PROGRAM EVENTS
Revenue
$48,365
CLIENT FEES
Revenue
$3,990
Organization Details
Founding Year
1973
Phone
(504) 293-0400Principal Officer
Alvin-O Williams
Main Address
400 POYDRAS STREET SUITE 1960, NEW ORLEANS, LA, 70130
NTEE Category
Code: S43Z - Community improvement
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