Overview
What is Houston Minority Business Council?
The Houston Minority Business Council (HMSDC) is a nonprofit organization situated in Houston, Texas. Its primary mission is to foster business growth and opportunities for Minority Business Enterprises (MBEs). HMSDC achieves this goal by verifying minority ownership and management, maintaining a database of certified firms, and their respective capabilities. Regular events such as expos, quarterly luncheons, and business opportunity marketplaces offer valuable information, insights, and guidance to MBEs, helping them navigate the ever-evolving marketplace. These events also provide major corporations with direct contact with MBE leaders, promoting understanding and support, thereby overcoming racial biases and stimulating economic development in impoverished communities. In 2021, over 5,000 individuals participated in these events. HMSDC is committed to driving excellence in supplier diversity and supplier development, with a workforce of 10 individuals.
Official website here: www.hmsdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Stars)
The Houston Minority Business Council has earned an 83% rating from Charity Navigator, indicating a solid performance overall, with particular strengths in Accountability & Finance and a notable Culture & Community score. The organization demonstrates effective financial management, with a program expense ratio of 86.16%, showing that a significant portion of funds is directed towards programs rather than administrative costs.
The Council excels in its feedback mechanisms, scoring a perfect 100 in areas related to feedback collection, usage, and practices. Additionally, it shows a strong commitment to equity strategies, scoring 91 out of 100 for its data, policies, and processes. These factors highlight the organization's dedication to inclusivity and community engagement.
While the Accountability & Finance score is commendable at 81%, the organization could benefit from further improvements in this area to enhance its overall effectiveness. Nonetheless, the Council's high scores in specific metrics reflect its focus on transparency and responsiveness to community needs.
This AI summary has been generated from information found on Charity Navigator.
Is Houston Minority Business Council legitimate?
Houston Minority Business Council is a legitimate nonprofit organization registered as a 501(c)(3) entity. Houston Minority Business 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $595,349
For more financial information, click here
Official website here: www.hmsdc.org
What is the mission statement of Houston Minority Business Council?
The Houston Minority Business Council's mission is centered around actively engaging its members in initiatives to enhance and expand business prospects for Minority Business Enterprises. This organization strives to foster excellence in supplier diversity and supplier development. Through certification, maintaining a database of certified firms, and organizing events such as business opportunity marketplaces and luncheons, HMBC provides Minority Business Owners with valuable information, insights, and guidance to expand their businesses. These events also offer major corporations direct contact with minority business leaders, promoting a better understanding and support, essential in overcoming racial biases and stimulating economic development in underprivileged communities. In 2021, over 5,000 individuals participated in these events.
Official website here: www.hmsdc.org
Who is the CEO of Houston Minority Business Council?
Ingrid Robinson is the President of Houston Minority Business Council.
Official website here: www.hmsdc.org
What is the revenue of Houston Minority Business Council?
Houston Minority Business Council's revenue in 2022 was $1,744,261.
Official website here: www.hmsdc.org
Who are the executives of Houston Minority Business Council and what are their salaries?
The average compensation at Houston Minority Business Council during 2022 was $59,535. There are 10 employees and 125 volunteers at Houston Minority Business Council.
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Official website here: www.hmsdc.org
Where can I find the form 990 for Houston Minority Business Council?
Houston Minority Business Council's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hmsdc.org
Learn more at the official website: www.hmsdc.org
Mission Statement of Houston Minority Business Council
The Houston Minority Business Council (HMBC) is committed to fostering involvement among its members in initiatives aimed at boosting business prospects and expansion for Minority Business Enterprises (MBEs). The organization's primary mission is to promote excellence in supplier diversity and supplier development, thereby amplifying opportunities for MBEs.
In pursuit of this mission, HMBC takes on various responsibilities. One of these is the certification of minority ownership and management, ensuring that legitimate businesses are recognized and supported. Additionally, HMBC maintains an extensive database of certified firms and their capabilities, acting as a reliable resource for corporations seeking to engage with MBEs.
HMBC hosts a series of events aimed at equipping minority business owners with the necessary tools and knowledge to thrive in a dynamic marketplace. These events, such as the Expo 2021 Business Opportunity Marketplace and quarterly luncheons, provide insights and guidance on business growth. Moreover, these events offer major corporations direct contact with MBE leaders, stimulating understanding and support, and helping to overcome racial biases. In 2021, over 5,000 individuals participated in these events, demonstrating the organization's significance in driving economic development in underprivileged communities.
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Impact
July, 2024
The Houston Minority Business Council's impact is significant in driving excellence in supplier diversity and supplier development. By certifying minority ownership and management, maintaining a database of certified firms and their capabilities, and hosting events like Expo 2021 Business Opportunity Marketplace and quarterly luncheons, the council provides minority business owners with valuable information, insight, and guidance on growing their businesses and adapting to a changing marketplace. Additionally, these events facilitate direct contact between major corporations and minority business leaders, helping to increase sensitivity, understanding, and support, which is crucial in overcoming racial biases and stimulating economic development in impoverished communities. Over 5,000 individuals attended these events in 2021, highlighting the council's wide-reaching impact in promoting minority business growth and inclusion.
This information is meant to be a general summary of Houston Minority Business 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: $226
- Program Service Revenue: $348,898
- Gross Receipts: $1,744,261
Assets and Liabilities:
- Total Assets: $1,294,027
- Total Liabilities: $347,878
- Net Assets: $946,149
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MBE CERTIFICATIONS
Revenue
$348,898
Organization Details
Founding Year
1995
Principal Officer
Ingrid Robinson
Main Address
Three Riverway STE 555, Houston, TX, 77056
Website
www.hmsdc.orgNTEE Category
Code: R22 - Civil rights
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