Overview
What is Southwest Minority Supplier Development Council?
The Southwest Minority Supplier Development Council is a nonprofit organization situated in Austin, Texas. Its primary focus is to empower and facilitate the growth of Minority Business Enterprises (MBEs). Through a rigorous certification process, MBEs that meet the council's criteria gain access to a vast network of over 400 corporate and more than 543 MBE associates. This extensive network significantly increases the opportunities for these businesses to secure contracts for goods and services. The council actively fosters positive business relationships between these entities, aiming to create a mutually beneficial environment. To achieve this goal, the organization hosts sponsored events that encourage business interaction, ultimately contributing to the growth and success of the MBE community. As of the provided information, the council employs a team of five individuals.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 54% (One-Star out of Four Stars)
The Southwest Minority Supplier Development Council has received a One-Star rating from Charity Navigator, indicating concerns regarding its overall financial health and accountability. While the organization boasts a fully independent board and strong governance practices, it has significant weaknesses in its financial metrics, particularly in its program expense ratio and liabilities to assets ratio.
Strengths of the council include a fully independent board of directors and comprehensive policies on conflict of interest, whistleblowing, and document retention, which contribute positively to its governance framework. Financial statements are also reviewed, ensuring some level of oversight regarding financial practices.
However, the organization faces challenges with its financial ratios, showing a program expense ratio of only 49.85%, suggesting less than half of its expenses are directed towards its mission-related programs. Additionally, the absence of its tax form on the nonprofit's website raises transparency concerns, reflecting potential areas for improvement. Overall, while the council has established governance strengths, its financial performance and transparency need significant enhancement.
This AI summary has been generated from information found on Charity Navigator.
Is Southwest Minority Supplier Development Council legitimate?
Southwest Minority Supplier Development Council is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southwest 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: $233,444
Professional Fundraising Fees: $0
Other Salaries and Wages: $252,556
For more financial information, click here
What is the mission statement of Southwest Minority Supplier Development Council?
The Southwest Minority Supplier Development Council's mission is centered around fostering an environment that encourages the growth of minority-owned businesses. By providing opportunities, the council aims to add value to its corporate members through positive business relationships. This mission is accomplished through the establishment of network connections, allowing certified Minority Business Enterprises (MBEs) to secure contracts for goods and services from both corporate and governmental entities. The council further supports this mission by organizing sponsored events that facilitate business interactions.
Who is the CEO of Southwest Minority Supplier Development Council?
Darlene Owens is the Treasurer of Southwest Minority Supplier Development Council. The CEO's salary of Southwest Minority Supplier Development Council is $233,444 and their total compensation is $233,444.
What is the revenue of Southwest Minority Supplier Development Council?
Southwest Minority Supplier Development Council's revenue in 2022 was $917,168.
Who are the executives of Southwest Minority Supplier Development Council and what are their salaries?
The average compensation at Southwest Minority Supplier Development Council during 2022 was $97,200. There are 5 employees at Southwest Minority Supplier Development Council.
Here are 13 key members and their salaries (Southwest Minority Supplier Development Council's CEO's salary is $233,444 and their total compensation is $233,444):
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- Compensation: $233,444
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Where can I find the form 990 for Southwest Minority Supplier Development Council?
Southwest Minority Supplier Development Council's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Southwest Minority Supplier Development Council
The Southwest Minority Supplier Development Council is dedicated to fostering an environment and creating opportunities for the growth of minority-owned businesses. Its mission is to forge positive business relationships with both corporate members and minority enterprises, thereby enabling these businesses to add significant value to each other. By becoming certified through the council, minority business enterprises (MBEs) are provided with access to a vast network of over 400 corporate members and more than 543 MBEs, thereby increasing their chances of securing corporate and government contracts for goods and services. The council further enhances these opportunities through sponsored events that facilitate business interactions.
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Impact
July, 2024
The Southwest Minority Supplier Development Council creates opportunities and an environment for minority enterprises to grow and actively add value to corporate members through positive business relationships. Certified Minority Business Enterprises (MBEs) associated with the council are able to engage with over 400 corporate members and more than 543 MBEs, leading to the generation of corporate and governmental contracts for goods and services. The council sponsors four events providing business interaction. Its impact includes facilitating business connections, fostering economic growth for minority enterprises, and promoting diversity and inclusion in the corporate world.
This information is meant to be a general summary of Southwest 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 2022.
- Investment Income: $132
- Gross Receipts: $917,168
Assets and Liabilities:
- Total Assets: $1,691,482
- Total Liabilities: $24,744
- Net Assets: $1,666,738
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Organization Details
Founding Year
1999
Phone
(512) 386-8766Principal Officer
Darlene Owens
Main Address
P O Box 151267, Austin, TX, 78715
NTEE Category
Code: T99 - Philanthropy
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