Overview
What is National Association Of Minority Contractors Inc?
The National Association of Minority Contractors Inc, situated in Hyattsville, Maryland, serves as a construction trade association. Its primary objective is to aid its member companies in enhancing their capacities by offering access, advocacy, and contractor development. To achieve this, the organization conducts annual conferences featuring educational seminars centered around best business practices, safety, and green building. With a modest workforce of one employee, the National Association of Minority Contractors Inc plays a vital role in supporting and empowering minority-owned businesses in the construction industry.
Official website here: www.namcnational.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75%, Three-Star out of Four Stars
The National Association Of Minority Contractors Inc has earned a Three-Star rating from Charity Navigator, reflecting a solid performance in terms of accountability and finance. The organization scored 75%, indicating a strong adherence to best practices in financial management and transparency. This rating is based solely on their Accountability & Finance metrics, demonstrating a focused commitment to these areas.
One of the significant strengths highlighted in the evaluation includes a perfect score for financial statements, indicating thorough reviews or compilations have been conducted. Additionally, the organization has shown no material diversion of assets, a strong conflict of interest policy, and effective document retention practices. These factors contribute to a trustworthy image and reassure stakeholders about the integrity of the organization.
While the financial health indicators are promising, it is worth noting that the overall score is derived from a single beacon score. This means that potential areas for improvement could lie outside the current evaluation parameters, such as program effectiveness or community impact metrics. Nonetheless, the financial ratios, including a program expense ratio of 71.04%, suggest that a substantial portion of funds is directed toward its mission-related activities.
This AI summary has been generated from information found on Charity Navigator.
Is National Association Of Minority Contractors Inc legitimate?
National Association Of Minority Contractors Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. National Association Of Minority Contractors 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $59,432
For more financial information, click here
Official website here: www.namcnational.org
What is the mission statement of National Association Of Minority Contractors Inc?
The National Association of Minority Contractors Inc. serves as a construction trade association, playing a crucial role in assisting its members by offering access, advocacy, and contractor development. Its mission is centered around helping members build their capacity, aiming to foster growth and success within the industry. Through educational seminars at annual conferences, the association covers best practices, safety measures, and sustainable building techniques, thereby empowering members to stay informed and competitive in the field.
Official website here: www.namcnational.org
What is the revenue of National Association Of Minority Contractors Inc?
National Association Of Minority Contractors Inc's revenue in 2023 was $856,719.
Official website here: www.namcnational.org
Who are the executives of National Association Of Minority Contractors Inc and what are their salaries?
The average compensation at National Association Of Minority Contractors Inc during 2023 was $59,432. There is 1 employee and 30 volunteers at National Association Of Minority Contractors Inc.
Here are 18 key members and their salaries:
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Official website here: www.namcnational.org
Where can I find the form 990 for National Association Of Minority Contractors Inc?
National Association Of Minority Contractors Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.namcnational.org
Learn more at the official website: www.namcnational.org
Mission Statement of National Association Of Minority Contractors Inc
The National Association of Minority Contractors (NAMC) serves as a construction trade association, dedicated to assisting its members in building their capacities. This is achieved through providing them with access to resources, advocacy, and contractor development. NAMC's mission is to empower minority contractors, aiding them in expanding their businesses and overcoming potential barriers in the construction industry.
At its core, NAMC focuses on helping its members increase their operational capabilities, ensuring they can compete effectively in the market. To this end, the organization offers various resources and opportunities, promoting advocacy and contractor development. By doing so, NAMC plays a crucial role in fostering a more inclusive and diverse construction industry, enabling minority contractors to thrive and make significant contributions to the field.
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Impact
July, 2024
National Association of Minority Contractors Inc's impact includes providing access, advocacy, and contractor development opportunities to its members. Through their annual conference, they offer educational seminars on business best practices, safety, and green building. This helps to enhance the capacity and skills of minority contractors in the construction industry. Their efforts contribute to the improvement of the community by supporting the growth and success of minority-owned businesses in the construction sector.
This information is meant to be a general summary of National Association Of Minority Contractors 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 2023.
- Program Service Revenue: $200,398
- Gross Receipts: $856,719
Assets and Liabilities:
- Total Assets: $1,274,720
- Total Liabilities: $118,575
- Net Assets: $1,156,145
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EDUCATION AND TRAINING
Revenue
$398
USDOE PROJECT
Revenue
$200,000
Organization Details
Founding Year
1969
Principal Officer
Wendell Stemley
Website
www.namcnational.orgNTEE Category
Code: S41 - Community improvement
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