Overview
What is Southern California Minority Supplier Development Council Inc?
Southern California Minority Supplier Development Council Inc, based in Los Angeles, California, is a dedicated nonprofit organization that focuses on fostering economic growth and business opportunities for minority-owned businesses. They achieve this by offering various services, such as validating the ownership, management, and control of applicant businesses, preparing diverse suppliers through programs, advocating on their behalf, and connecting them with potential corporate partners whose needs align with their offerings. Their mission extends beyond certification, as they also deliver technical assistance, offering educational and professional development programs, workshops, and seminars to enhance the readiness, caliber, and ability of diverse suppliers to grow and succeed in the business world. Their service area covers thirteen California counties, including Los Angeles and Orange County.
Official website here: www.scmsdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% - Three-Star out of Four Star rating
The Southern California Minority Supplier Development Council Inc has received a Three-Star rating from Charity Navigator, indicating a solid performance in terms of accountability and finance. The charity scored 81% overall, with its score derived solely from its Accountability & Finance metrics. This rating suggests that the organization maintains good financial practices and transparency.
One of the notable strengths of this nonprofit is its governance structure, with 91% of its board members being independent. The organization also exhibits strong financial oversight, evidenced by a perfect score in areas such as audit and oversight, conflict of interest policies, and whistleblower policies. Additionally, it has a favorable liabilities to assets ratio, reflecting sound financial health.
However, there is some room for improvement, particularly in its program expense ratio, which stands at 58.22%. This indicates that a significant portion of its expenses may not be directed towards program services, which can be a concern for potential donors looking to maximize their contributions' impact. Overall, while the organization demonstrates strong accountability, enhancing its program expense efficiency could further bolster its standing.
This AI summary has been generated from information found on Charity Navigator.
Is Southern California Minority Supplier Development Council Inc legitimate?
Southern California Minority Supplier Development Council Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southern California Minority Supplier Development 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: $167,663
Professional Fundraising Fees: $0
Other Salaries and Wages: $395,380
For more financial information, click here
Official website here: www.scmsdc.org
What is the mission statement of Southern California Minority Supplier Development Council Inc?
The Southern California Minority Supplier Development Council's mission is centered around promoting the economic growth and business opportunities for diverse suppliers. This organization, which operates in thirteen California counties, provides various services to achieve this goal. These services include validating the ownership and management of minority-owned businesses, developing their capabilities to do business with major corporations, and advocating for the issues and challenges faced by minority business suppliers. Additionally, SCMSDC connects diverse suppliers with corporate members whose procurement needs align with their products or services, and offers educational and professional development programs to enhance their skills and readiness for growth.
Official website here: www.scmsdc.org
Who is the CEO of Southern California Minority Supplier Development Council Inc?
Virginia Gomez is the President/Ceo of Southern California Minority Supplier Development Council Inc. The CEO's salary of Southern California Minority Supplier Development Council Inc is $159,748 and their total compensation is $167,663.
Official website here: www.scmsdc.org
What is the revenue of Southern California Minority Supplier Development Council Inc?
Southern California Minority Supplier Development Council Inc's revenue in 2022 was $1,998,278.
Official website here: www.scmsdc.org
Who are the executives of Southern California Minority Supplier Development Council Inc and what are their salaries?
The average compensation at Southern California Minority Supplier Development Council Inc during 2022 was $43,311. There are 13 employees and 13 volunteers at Southern California Minority Supplier Development Council Inc.
Here are 15 key members and their salaries (Southern California Minority Supplier Development Council Inc's CEO's salary is $159,748 and their total compensation is $167,663):
- Compensation: $159,748
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- Other: $7,915
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- Compensation: $117,304
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- Other: $12,860
Official website here: www.scmsdc.org
Where can I find the form 990 for Southern California Minority Supplier Development Council Inc?
Southern California Minority Supplier Development Council Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.scmsdc.org
Learn more at the official website: www.scmsdc.org
Mission Statement of Southern California Minority Supplier Development Council Inc
Southern California Minority Supplier Development Council (SCMSDC) is committed to advancing the economic development and business opportunities of diverse suppliers. This nonprofit organization serves a wide range of businesses, focusing on those owned and managed by minorities. SCMSDC operates within a service area that spans thirteen California counties, including notable regions such as Orange County, Los Angeles County, and Fresno County.
The council's mission is multifaceted. Firstly, SCMSDC validates the ownership, management, and control of applicant businesses by minority or groups of minorities. This certification process is essential in opening up opportunities for these businesses to collaborate with majority corporations. Secondly, the organization develops diverse suppliers through programs and services that enhance their capacity to do business with major corporations. These offerings include educational and professional development programs that focus on areas like leadership, communications, business acumen, finance, and strategic planning.
SCMSDC also advocates for issues and challenges faced by minority business suppliers. It connects these suppliers with corporate members whose procurement needs match their products or services. Through delivery of technical assistance based on recommendations from majority companies and the diverse business community, SCMSDC strategically positions diverse suppliers to increase their readiness, caliber, and ability to grow. These efforts not only help diverse businesses thrive but also contribute to a more inclusive and equitable business landscape.
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Impact
July, 2024
The Southern California Minority Supplier Development Council Inc has a significant impact on the economic development and business opportunities of diverse suppliers in its service area. By validating ownership, management, and control of minority businesses, providing developmental programs and services, advocating for minority business issues, and connecting diverse suppliers with corporate members, SCMSDC plays a crucial role in advancing the readiness and capacity of diverse suppliers. Through educational and professional development programs, SCMSDC helps diverse suppliers enhance their skills in areas such as leadership, finance, strategic planning, and procurement knowledge. This ultimately empowers diverse suppliers to grow their businesses and contribute to the overall economic growth and diversity in the community.
This information is meant to be a general summary of Southern California Minority Supplier Development 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: $41,757
- Program Service Revenue: $1,002,849
- Gross Receipts: $1,998,278
Assets and Liabilities:
- Total Assets: $3,634,127
- Total Liabilities: $401,212
- Net Assets: $3,232,915
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MBE Program Revenue
Revenue
$1,002,849
Organization Details
Founding Year
1978
Phone
(213) 686-6960Principal Officer
Virginia Gomez
Main Address
800 West 6th Street 850, Los Angeles, CA, 90017
Website
www.scmsdc.orgNTEE Category
Code: S43Z - Community improvement
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