2016-08-15T00:00:00-05:00 2015-12-31 132781641 MITCHELL & TITUS LLP ONE BATTERY PARK PLAZA NEW YORK NY 10004 990 2015-01-01 237348220 NATIONAL MINORITY SUPPLIER DEVELOPMENT Council Inc NATI 2129442430 1359 BROADWAY No 1000 New York NY 10018 Joset B Wright PRESIDENT 2129442430 2016-04-26 1 Frederick E Davis Jr P00446023 2127094500 2015 2016-12-15 16:53:06Z JOSET B WRIGHT 1359 Broadway Suite 1000 New York NY 10018 16309743 0 X www.nmsdc.org X 1973 IL THE NATIONAL MINORITY SUPPLIER DEVELOPMENT COUNCIL ADVANCES BUSINESS OPPORTUNITIES FOR CERTIFIED MINORITY BUSINESS ENTERPRISES AND CONNECTS THEM TO CORPORATE MEMBERS. 38 37 35 157 0 0 2164075 2257679 13171267 13594732 193835 206725 -320984 -275937 15208193 15783199 0 0 0 0 3551183 3410006 0 0 238356 12135602 12805760 15686785 16215766 -478592 -432567 11714089 11760273 3937808 4431863 7776281 7328410 THE NATIONAL MINORITY SUPPLIER DEVELOPMENT COUNCIL ADVANCES BUSINESS OPPORTUNITIES FOR CERTIFIED MINORITY BUSINESS ENTERPRISES AND CONNECTS THEM TO CORPORATE MEMBERS. 0 0 7569733 7569733 FIELD OPERATIONS: MANAGES A NETWORK OF REGIONAL MINORITY SUPPLIER DEVELOPMENT COUNCILS, MONITORS THEIR ACTIVITIES, SERVICES AND UNIFORM STANDARD OF WORK. 2830324 2977925 ANNUAL CONFERENCE: EVALUATES ORGANIZATION'S PERFORMANCE, CONDUCTS WORKSHOPS AND SEMINARS FOR MINORITY SUPPLIERS AND CORPORATE MEMBERS. 1252999 1343974 MEMBERS SERVICES: PROVIDES TRAINING, NETWORKING AND REFERRAL OPPORTUNITIES TO MINORITY SUPPLIERS AND OTHER SERVICES TO CORPORATE MEMBERS. 1431809 1717707 1431809 1717707 13084865 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 62 0 1 35 1 0 0 0 0 0 1 1 0 0 0 0 X 38 37 0 0 0 0 1 1 0 1 1 0 1 1 0 1 1 0 1 1 1 1 0 IL NY X Casilda Del Valle 2129442430 1359 Broadway Suite 1000 New York NY 10018 EUGENE AGEE DIRECTOR 1.00 0.00 X 0 0 0 CLIFFORD BAILEY DIRECTOR 3.00 0.00 X 0 0 0 DAVID W BARTECH DIRECTOR 1.00 0.00 X 0 0 0 DANIEL CARRELL DIRECTOR 1.00 0.00 X 0 0 0 ALBERT CHEN DIRECTOR 1.00 0.00 X 0 0 0 BOB CURREY DIRECTOR 1.00 0.00 X 0 0 0 RAY DEMPSEY DIRECTOR 1.00 0.00 X 0 0 0 REGINA EDWARDS DIRECTOR 1.00 0.00 X 0 0 0 TIFFANY EUBANKS-SANDERS DIRECTOR 1.00 0.00 X 0 0 0 CLINT GRIMES DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL HOFFMAN DIRECTOR 1.00 0.00 X 0 0 0 SIDNEY JOHNSON DIRECTOR 1.00 0.00 X 0 0 0 GARY KALLENBACK DIRECTOR 2.00 0.00 X 0 0 0 WILLIAM F KORNEGAY DIRECTOR 2.00 0.00 X 0 0 0 THOMAS E LAKE DIRECTOR 1.00 0.00 X 0 0 0 REGINALD LAYTON DIRECTOR 3.00 0.00 X 0 0 0 MARIA LINDENBERG DIRECTOR 1.00 0.00 X 0 0 0 FARRYN MELTON DIRECTOR 2.00 0.00 X 0 0 0 JOHN MUNSON DIRECTOR 1.00 0.00 X 0 0 0 ROBERT NOEL DIRECTOR 1.00 0.00 X 0 0 0 MARGO POSEY DIRECTOR 3.00 0.00 X 0 0 0 M BRIDGET REIDY DIRECTOR 1.00 0.00 X 0 0 0 QUENTIN ROACH DIRECTOR 1.00 0.00 X 0 0 0 JAMIEL SALIBA DIRECTOR 1.00 0.00 X 0 0 0 RIC SCHNEIDER DIRECTOR 1.00 0.00 X 0 0 0 GUY SCHWEPPE DIRECTOR 1.00 0.00 X 0 0 0 JAMES SHEEHY DIRECTOR 1.00 0.00 X 0 0 0 DONALD SMITH DIRECTOR 1.00 0.00 X 0 0 0 ARNOLD SOWA DIRECTOR 2.00 0.00 X 0 0 0 HAU THAI-TANG DIRECTOR 1.00 0.00 X 0 0 0 SHEILA TIERNEY DIRECTOR 1.00 0.00 X 0 0 0 ADAM WALKER DIRECTOR 1.00 0.00 X 0 0 0 DAVE WHEELER DIRECTOR 2.00 0.00 X 0 0 0 FRED WHIPPLE DIRECTOR 1.00 0.00 X 0 0 0 SHELLY STEWART JR VICE CHAIRMAN 2.00 0.00 X X 0 0 0 I JAVETTE HINES SECRETARY 2.00 0.00 X X 0 0 0 DENNIS P MILLER TREASURER 2.00 0.00 X X 0 0 0 JOSET B WRIGHT PRESIDENT 35.00 0.00 X X 272109 0 25106 CASILDA DEL VALLE VICE PRESDIENT 35.00 0.00 X 219919 0 35251 DOROTHY KAUFFMAN VICE PRESIDENT 35.00 0.00 X 205480 0 17043 MARQUIS MILLER VICE PRESIDENT 35.00 0.00 X 191150 0 13699 IDA S EADDY VICE PRESIDENT 35.00 0.00 X 181250 0 19450 SHELIA MCCLENDON VICE PRESIDENT 35.00 0.00 X 160685 0 502 MAGDALENA CHAPARRO VICE PRESDIENT 35.00 0.00 X 143195 0 12443 1373788 0 123494 9 0 1 0 CENTERPLATE 111 W Harbor Dr San Diego CA 92101 FOOD SERVICES 422661 21ST CENTURY EXPO GROUP 137 National Plz Suite 350 National Harbor MD 20745 EXHIBIT MANAGEMENT 374191 NEW YORK HILTON & TOWERS 1335 AVENUE OF THE AMERICAS NEW YORK NY 10019 Lodging & food svcs 255468 EXECUTIVE AUDIO VISUAL SERVICE 100 Park Ave 1600 New York NY 10017 AUDIO VISUAL EQUIPMENT/SUPPORT 248921 HILTON SAN DIEGO BAY FRONT 1 Park Blvd San Diego CA 92101 Lodging & food svcs 204884 5 709600 1548079 2257679 MEMBERSHIP DUES 813990 9125910 9125910 TRADE SHOW AND MEETING FEES 561920 3785227 3785227 SBA GRANT 900099 181102 181102 REGISTRATION FEES AND TUITIONS 611430 82370 82370 MBDA CONTRACT 900099 78450 78450 341673 341673 13594732 206725 206725 236000 709600 526544 -290544 -290544 PRIOR PERIOD ADJUSTMENTS 900099 14607 14607 14607 15783199 13609339 0 -83819 549217 549217 2319134 1599637 552692 166805 110681 79471 20520 10690 246116 143628 87266 15222 184858 115662 59309 9887 1284429 1140900 120373 23156 39151 32541 6610 56860 56860 3443 3144 299 715726 612462 101012 2252 43324 27347 15977 929572 117986 811586 436328 350974 81148 4206 1262077 1255059 6840 178 6789373 6789373 678435 384603 292048 1784 33989 1557 32432 Temporary Help 152764 97531 54393 840 Credit Card Merchant Se 89893 89877 16 Security Services 31194 27822 3372 Licensing Fees / Permit 11552 2041 9511 247650 213250 31064 3336 16215766 13084865 2892545 238356 722436 462053 2117854 1723486 837538 861894 324781 119074 5639812 4132259 1881558 1507553 5659946 6916259 169976 169954 11714089 11760273 1671002 1824405 1648620 2015775 618186 591683 3937808 4431863 X 7671281 7223410 5000 5000 100000 100000 7776281 7328410 11714089 11760273 -432567 -15304 0 X 0 1 X 1 0 X 2357375 3785350 2127336 2164075 2257679 12691815 2357375 3785350 2127336 2164075 2257679 12691815 1621516 11070299 169596 161344 134100 193835 206725 865600 5533 13577 31327 25880 14607 90924 13648339 50086446 0.81110 0.80170 X SCHEDULE A, PART II - OTHER INCOME DESCRIPTION 2011 2012 2013 2014 2015 TOTAL Miscellaneous 5,533 13,577 31,327 25,880 14,607 90,924 TOTALS 5,533 13,577 31,327 25,880 14,607 90,924 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1343471 40759 1384230 1303911 39560 1343471 1265933 37978 1303911 1229017 36916 1265933 1193166 35851 1229017 0.92780 0.07220 0.00000 0 0 871831 482005 389826 4212482 3096702 1115780 555499 553552 1947 1507553 Annuities 4468510 F Certificates of Deposit 649500 F Real Estate Investment Trusts 1449342 F Mutual Funds 276267 F Money Market Funds 46718 F Artwork 25922 C 6916259 DEFERRED COMPENSATION 322986 DEFERRED RENT CREDITS 268697 591683 X 16086121 -15304 27682 12378 16073743 -290544 -290544 15783199 16533992 27682 290544 318226 16215766 0 16215766 Part X, Line 2: U.S. GAAP requires management to evaluate uncertain tax positions taken by the Council. The financial statement effects of a tax position are recognized when the position is more-likely-than-not, based on the technical merits, to be sustained upon examination by the Internal Revenue Service. Management analyzed the Council's tax positions, and it concluded that as of December 31, 2015, there are no uncertain positions taken or expected to be taken. The Council is subject to routine audits by taxing jurisdictions; however, there are no audits for any tax periods in progress. Management believes the Council is no longer subject to income tax examinations for years prior to 2012. Part XI, Line 4b - Other Adjustments: SPECIAL EVENT DIRECT EXPENSE Part XII, Line 2d - Other Adjustments: SPECIAL EVENT DIRECT EXPENSE The intended uses of the organization's endowment funds Permanently restricted net assets represent the James H. O'Neal/PepsiCo Foundation/NMSDC Endowed Scholarship Fund. The income earned will be used to support scholarships for minority business owners who participate in the Advanced Management Education Program. LEADERSHIP AWARDS 945600 709600 236000 228413 9027 289104 945600 709600 236000 228413 9027 289104 526544 -290544 X X X 0 0 0 0 0 0 0 0 0 JOSET B WRIGHT PRESIDENT 270525 0 0 0 1584 0 21601 0 3505 0 297215 0 0 0 CASILDA DEL VALLE VICE PRESDIENT 205852 0 12483 0 1584 0 30658 0 4593 0 255170 0 0 0 DOROTHY KAUFFMAN VICE PRESIDENT 192928 0 12000 0 552 0 15190 0 1853 0 222523 0 0 0 MARQUIS MILLER VICE PRESIDENT 178118 0 12000 0 1032 0 13699 0 0 0 204849 0 0 0 IDA S EADDY VICE PRESIDENT 166202 0 12000 0 3048 0 13298 0 6152 0 200700 0 0 0 SHELIA MCCLENDON VICE PRESIDENT 148363 0 12000 0 322 0 0 0 502 0 161187 0 0 0 MAGDALENA CHAPARRO VICE PRESDIENT 130163 0 12000 0 1032 0 8942 0 3501 0 155638 0 0 0 FORM 990, PART III, LINE 4D OTHER PROGRAM SERVICES INCLUDE: (1) TRADE SHOW - PROVIDES A FORUM FOR BUSINESS EXCHANGE BETWEEN CORPORATE BUYERS AND MINORITY SUPPLIERS.; (2) LEARNING PROGRAMS - PROVIDES A LEARNING AND EDUCATIONAL PLATFORM FOR CORPORATE MEMBERS, MINORITY SUPPLIERS AND REGIONAL COUNCILS; (3) INTERNATIONAL PROGRAM - BUILDS AN INTERNATIONAL NETWORK OF NMSDC-LIKE ORGANIZATIONS TO ASSIST CORPORATE MEMBERS IN IMPLEMENTING SUPPLIER DIVERSITY PROGRAMS IN OTHER COUNTRIES AND HELP NMSDC-CERTIFIED MINORITY SUPPLIERS TO MAKE INTERNATIONAL CONNECTIONS; (4) CORPORATE PLUS - PROVIDES CORPORATE MEMBERS WITH REFERRALS AND ACCESS TO THE LARGEST MINORITY-OWNED VENDORS IN THE COUNTRY WITH CAPACITY FOR SERVICING NATIONAL CONTRACTS; (5) CENTERS OF EXCELLENCE - PROVIDES A PLATFORM FOR MINORITY SUPPLIERS TO INCREASE BUSINESS CAPACITY AND MINORITY SUPPLIER PROGRAM DEVELOPMENT FOR CORPORATE MEMBERS; (6) PROGRAM DEVELOPMENT - A PLATFORM FOR THE DEVELOPMENT OF NEW PROGRAMS TO ADDRESS GROWING NEEDS OF CONSTITUENT GROUPS; (7) SBA GRANT - DEVELOP AND DELIVER 12 WEBINARS AND ARRANGED FOR A PROGRAM SUMMIT FOR THE PURPOSE OF TRANSITIONING 8(A) FIRMS FROM GOVERNMENT PROCUREMENT TO PRIVATE SECTOR PROCUREMENT; (8) MBDa CONTRACT - COLLABORATE WITH THE MINORITY BUSINESS DEVELOPMENT AGENCY BY INCORPORATING MEDWEEK ACTIVITIES WITHIN THE NMSDC ANNUAL CONFERENCE CONTENT. Form 990, Part VI, Section A, line 6 NMSDC IS A MEMBERSHIP ORGANIZATION. CERTAIN FIRMS THAT DESIRE MEMBERSHIP IN THE ORGANIZATION ARE REQUIRED TO PAY ANNUAL MEMBERSHIP DUES IN AMOUNTS AS DETERMINED BY THE BOARD OF DIRECTORS. MEMBERS RECEIVED CERTIFICATION SERVICES, ELECTRONIC DATABASE ACCESS OF CERTIFIED MINORITY-OWNED COMPANIES, SUPPLIER DIVERSITY TRAINING AND SEMINARS, VENDOR REFERRAL SUPPORT AND MATCHMAKING OPPORTUNITIES AS WELL AS NETWORKING OPPORTUNITIES WITH THEIR CORPORATE PEERS TO EXCHANGE BEST PRACTICES AND PROMOTE ADVOCACY FOR MINORITY SUPPLIER DEVELOPMENT. DUES ARE ASSESSED FOR SERVICES PROVIDED; ACCORDINGLY, THEY ARE NOT TAX DEDUCTIBLE AS CONTRIBUTIONS AND ARE REPORTED AS PROGRAM INCOME ON FORM 990. Form 990, Part VI, Section A, line 7a A MEETING OF MEMBERS IS HELD ANNUALLY BY NMSDC FOR THE PURPOSE OF REVIEWING THE NOMINATION OF MEMBERS TO THE BOARD OF DIRECTORS AND CONDUCTING THE ELECTION OF DIRECTORS. THE BOARD OF DIRECTORS ALSO MEETS ANNUALLY AND ELECTS THE OFFICERS: CHAIRMAN, VICE CHAIRMAN, SECRETARY, TREASURER AND PRESIDENT. Form 990, Part VI, Section B, line 11 VICE PRESIDENT OF FINANCE AND ADMINISTRATION COMPLETES THE QUESTIONNAIRE PROVIDED BY PREPARER (MITCHELL & TITUS) FROM WHICH A DRAFT IS GENERATED. DRAFT IS SUBMITTED TO VICE PRESIDENT OF FINANCE AND ADMINISTRATION FOR REVIEW. ONCE THE REVIEW IS COMPLETED, THE FINAL FORM 990 IS PRESENTED TO THE PRESIDENT FOR HER REVIEW AND APPROVAL. A COPY IS FORWARDED TO THE TREASURER FOR HIS REVIEW AND COMMENT. THE E-FILING AUTHORIZATION IS PROVIDED TO MITCHELL AND TITUS TO SUBMIT THE FORM 990 ELECTRONICALLY. FORM 990 IS ALSO PROVIDED TO GUIDESTAR FOR LISTING IN THEIR WEBSITE AND IT IS ALSO AVAILABLE ON REQUEST. Form 990, Part VI, Section B, Question 12 THE ORGANIZATION ASKS MEMBERS OF THE BOARD TO REPORT ON ANY CONFLICT. SINCE NO CONFLICT OF INTEREST HAS BEEN REPORTED AND NO CONFLICT OF INTEREST HAS BEEN IDENTIFIED INDEPENDENTLY, NO ACTION HAS BEEN REQUIRED. Form 990, Part VI, Section B, line 15 THE PRESIDENT'S PERFORMANCE AND COMPENSATION IS REVIEWED ANNUALLY BY A COMPENSATION COMMITTEE HEADED BY THE CHAIRMAN OF THE EXECUTIVE COMMITTEE. THE CHAIRMAN OF THE EXECUTIVE COMMITTEE AUTHORIZES THE TREASURER TO ISSUE WRITTEN NOTICE TO THE VICE PRESIDENT OF FINANCE AND ADMINISTRATION OF SALARY INCREASES AWARDED TO THE PRESIDENT. ANNUAL BONUSES (IF ANY) ARE ALSO AUTHORIZED BY THE CHAIRMAN OF THE EXECUTIVE COMMITTEE WITH INPUT FROM THE CHAIRMAN OF THE BOARD AND THE TREASURER AND CONFIRMED IN WRITING BY THE TREASURER. THE CHAIRMAN OF THE EXECUTIVE COMMITTEE THEN REVIEWS THE AWARD OF BONUSES WITH THE EXECUTIVE COMMITTEE. NMSDC'S PRESIDENT IS RESPONSIBLE FOR THE HIRING, MANAGEMENT AND SUPERVISION OF KEY EMPLOYEES. THE PRESIDENT IS RESPONSIBLE FOR EVALUATING KEY EMPLOYEE'S PERFORMANCE AND AUTHORIZES SALARY INCREASES. SALARY INCREASES GENERALLY FOLLOW ANNUAL INCREASES APPROVED BY THE EXECUTIVE COMMITTEE IN THE APPROVED BUDGET. SALARY INCREASES DUE TO PROMOTIONS FOLLOW GUIDELINES CONTAINED IN THE APPROVED BUDGET FOR SUCH POSITION. EXTERNAL COMPENSATION STUDIES, SUCH AS THOSE ISSUED BY THE AMERICAN SOCIETY OF ASSOCIATION EXECUTIVES, ARE USED TO ESTABLISH SALARY LEVELS. THE AWARD OF ANNUAL BONUSES, IF ANY, FOLLOW THE SAME APPROVAL PROCESS USED TO AWARD BONUSES TO THE PRESIDENT. Form 990, Part VI, Section C, line 19 AUDITED FINANCIAL STATEMENTS ARE INCORPORATED IN THE ORGANIZATION'S PUBLISHED ANNUAL REPORT WHICH IS DISSEMINATED TO MEMBERS, BOARD OF DIRECTORS AND REGIONAL COUNCILS. THROUGH A NETWORK DISTRIBUTION LIST, HUNDREDS OF COPIES OF THE ANNUAL REPORT ARE SENT TO THE REGIONAL COUNCILS FOR LOCAL DISSEMINATION. THE ANNUAL REPORT IS ALSO AVAILABLE ON NMSDC'S WEBSITE. COPIES OF NMSDC'S CERTIFIED FINANCIAL STATEMENTS ARE ALSO AVAILABLE UPON REQUEST. THE CONFLICT OF INTEREST POLICY IS CONTAINED IN NMSDC'S EMPLOYEE HANDBOOK AND THE AFFILIATES OPERATING MANUAL. FORM 990 IS MADE AVAILABLE UPON REQUEST. NMSDC ENSURES THAT FORM 990 IS ALSO AVAILABLE VIA GUIDESTAR WEBSITE. BUSINESS CONSORTIUM FUND INC 305 SEVENTH AVENUE 20TH FLOOR NEW YORK NY 10001 133407599 Loan Fund NY 501(3) Line 7 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 Business Consortium Fund Inc Q 2507 actual