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National Minority Supplier Development Council Business Conso

National Minority Supplier Development Council Business Conso

New York, NY 10022
Tax ID13-3407599

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About this organization

Revenue

$434,021

Expenses

$801,734

Website

bcfcapital.com

Mission

To provide access to capital to NMSDC council certified minority business entrepreneurs unable to secure financing on reasonable terms through traditional lending channels.

About

A loan fund that provides affordable funds to certified minority vendors to finance transactions with member corporations of the National Minority Supplier Development Council, Inc and its affiliated regional minority purchasing councils.

Interesting data from their 2020 990 filing

The non-profit's mission, as documented in the filing, is “The business consortium fund (bcf) provides access to capital to national minority supplier development council (nmsdc) certified minority business entrepreneurs (mbe) unable to secure financing on reasonable terms through traditional lending channels. a number of financing programs are available through the bcf, including: contract, accounts receivable and equipment financing, working capital loans, term loans and equity based funding.”.

When explaining its purpose, the activities were described as: “To provide access to capital to nmsdc council certified minority business entrpreneurs unable to secure financing on reasonable terms through traditional lending channels.”.

  • The non-profit is legally allowed to operate in the state of NY, as reported.
  • The filing provides the non-profit's address in 2020 as 575 LEXINGTON AVENUE 4TH FLOOR20TH, NEW YORK, NY, 10022.
  • The non-profit has a total of 5 employees, as reported on their form for 2020.
  • Does not operate a hospital.
  • Does not operate a school.
  • Does not collect art.
  • Does not provide credit counseling.
  • Does not have foreign activities.
  • Is not a donor-advised fund.
  • Is not a private foundation.
  • Expenses are between $500,000 and $1,000,000+.
  • Revenue is between $250,000 and $500,000.
  • Revenue less expenses is -$367,713.
  • The CEO compensation strategy within the organization is determined through a review and approval process by a neutral party.
  • The organization elects its board members.
  • The organization has a written policy that describes how long it will retain documents.
  • The organization has 19 independent voting members.
  • The organization was formed in 1987.
  • The organization has a written policy that addresses conflicts of interest.
  • The organization is required to file Schedule B.
  • The organization is required to file Schedule J.
  • The organization is required to file Schedule O.
  • The organization pays $545,083 in salary, compensation, and benefits to its employees.
  • The organization pays $0 in fundraising expenses.
  • The organization has minutes of its meetings.
  • The organization has a written whistleblower policy.
  • The organization has a business related organization transaction.
  • The organization's financial statements were reviewed by an accountant.

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