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North Central Minority Supplier Dev

Tax-deductible

Minneapolis, MN501(c)(3) EIN 36-3550790Revenue $1.3M in FY2024

On file with the IRSnorthcentralmsdc.org111 3rd Ave S Ste 240, 55401-2579 · Minneapolis, MNTax-exempt since Jan 1974Publicly supported charity — 170(b)(1)(A)(vi)

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To provide Minority businesses with the oppertunity for businesses with corporate partners and to expand there business.

501(c)(3) charity; gifts are tax-deductible.
54¢ of each $1 spent went to programs.
$107K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $54K a year · 5% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
54%
of spending
Worth a look: 54% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$107K
to officers and key staff · 8% of spending
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
13 mo
of spending, in cash
Looks good: 12.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$967K
66% of total assets
Worth a look: liabilities are 66% of assets; over 65%.
Pt X · Ln 26
Independent board members
18
of 18 voting members
Looks good: 18 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.3M
+11% vs prior year
Spent
$1.3M
To programs
54%
Net assets
$489K
By yearFY2020–FY2024
Revenue
$1.3M
FY2024▲ +11%
Tap a bar for its year
Revenue by fiscal year
FY2020$703K
FY2021$854K
FY2022$944K
FY2023$1.2M
FY2024$1.3M
Expenses
$1.3M
FY2024▲ +12%
Tap a bar for its year
Expenses by fiscal year
FY2020$561K
FY2021$727K
FY2022$948K
FY2023$1.2M
FY2024$1.3M
Net assets
$489K
FY2024-0.1%
Tap a bar for its year
Net assets by fiscal year
FY2020$360K
FY2021$513K
FY2022$484K
FY2023$490K
FY2024$489K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1974.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

54 cents of each dollar spent went to programs.

Program services 54% · $708K Management & general 45% · $591K Fundraising 1% · $19K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

19 people listed on the 990; $107K paid to officers and key staff.

Part VII, Section A · reportable compensation
Carolyn Mosby
President
$106,940Pt VII · Sec A
$0Pt VII · Sec A
Shannon Patel
Vice Chair
$0Pt VII · Sec A
Natalie McGrady
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Karen Tobler
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2021FY2020
Heather Olson—$148,741$115,686$115,868
Carolyn Mosby$106,940———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Connects minority businesses with corporate partners to help them grow.

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Provided by the organization

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1 program · $708K · in their own filed words · FY2024
01

Mbda supports and promotes the growth of competitive minority business enterprises.

$708Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.3M
Ln 12
Gifts and grantsLn 1h$1.1M
Fees for servicesLn 2g$207K
Investment incomeLn 3$1K
Money outPt IX
$1.3M
Ln 25
Programscol B$708K
Managementcol C$591K
Fundraisingcol D$19K
Owns and owesPt X
$489K
net assets · Ln 32
Cash and savingsLn 1–2$1.4M
Total assetsLn 16$1.5M
LiabilitiesLn 26$967K
PeoplePt VI, VII
19
listed · VII A
PaidVII A1
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1M
Fees for servicesLn 2g$207K
Investment incomeLn 3$1K
Total revenueLn 12$1.3M
Assets in detailPt X, end of year
CashLn 1$1.4M
SavingsLn 2$21K
Cash and savings togetherLn 1–2$1.4M
Land, buildings, equipmentLn 10c$3K
Other assetsLn 15$2K
Total assetsLn 16$1.5M
LiabilitiesLn 26$967K
Net assetsLn 32$489K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$762K$1.4M
Land, buildings, equipmentLn 10c$842$3K
Total assetsLn 16$934K$1.5M
LiabilitiesLn 26$444K$967K
Net assetsLn 32$490K$489K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$107K$81K$22K$3K
Other salaries and wagesLn 7$468K$356K$99K$13K
Other employee benefitsLn 9$31K$20K$10K$1K
Payroll taxesLn 10$43K$33K$9K$1K
Legal feesLn 11b$6K$6K
Accounting feesLn 11c$87K$87K
Other fees for servicesLn 11g$309K$133K$176K
Advertising and promotionLn 12$24K$6K$18K
Office expensesLn 13$13K$4K$9K
OccupancyLn 16$21K$12K$9K
TravelLn 17$48K$23K$25K
Conferences, conventions and meetingsLn 19$10K$6K$4K
Depreciation, depletion and amortizationLn 22$1K$1K
InsuranceLn 23$3K$250$3K
Other expenses (24a–d)Ln 24$144K$32K$112K
All other expensesLn 24e$2K$2K$229
Total functional expensesLn 25$1.3M$708K$591K$19K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.3M$1.3M−$561$489K 990 PDF
FY2023 $1.2M$1.2M$6K$490K 990 PDF
FY2022 $944K$948K−$3K$484K 990 PDF
FY2021 $854K$727K$127K$513K 990 PDF
FY2020 $703K$561K$142K$360K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,317,371 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $929,585$1,109,303
I-9 Program service revenuePrior year $255,290$206,728
I-10 Investment incomePrior year $1,438$1,340
I-11 Other revenuePrior year −$254$0
I-12 Total revenuePrior year $1,186,059$1,317,371
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $404,784$649,516
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $775,181$668,416
I-18 Total expensesPrior year $1,179,965$1,317,932
I-19 Revenue less expensesPrior year $6,094−$561
Part VI · Governance 18 of 18 board members independent, 1 to look at
VI-1a Voting members of the governing body18
VI-1b Independent voting members18
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,317,371 across 6 lines filed
VIII-1b Membership dues$384,164
VIII-1f All other contributions, gifts and grants$725,139
VIII-1h Total contributions, gifts and grants$1,109,303
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $206,728$206,728
VIII-3 Investment incomeExcluded from tax $1,340$1,340
VIII-12 Total revenueRelated to mission $206,728 · Unrelated business $0 · Excluded from tax $1,340$1,317,371
Part IX · Statement of functional expenses $1,317,932 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $81,333 · Management $22,473 · Fundraising $3,210$107,016
IX-7 Other salaries and wagesPrograms $356,045 · Management $99,088 · Fundraising $13,007$468,140
IX-9 Other employee benefitsPrograms $20,152 · Management $9,854 · Fundraising $1,305$31,311
IX-10 Payroll taxesPrograms $32,761 · Management $9,078 · Fundraising $1,210$43,049
IX-11b Legal feesManagement $6,434$6,434
IX-11c Accounting feesManagement $86,609$86,609
IX-11g Other fees for servicesPrograms $133,163 · Management $176,144$309,307
IX-12 Advertising and promotionPrograms $5,933 · Management $17,864$23,797
IX-13 Office expensesPrograms $3,982 · Management $9,436$13,418
IX-16 OccupancyPrograms $11,600 · Management $9,000$20,600
IX-17 TravelPrograms $23,395 · Management $24,600$47,995
IX-19 Conferences, conventions and meetingsPrograms $6,073 · Management $3,795$9,868
IX-22 Depreciation, depletion and amortizationManagement $1,176$1,176
IX-23 InsurancePrograms $250 · Management $2,992$3,242
IX-24 Other expenses (24a–d)Programs $31,670 · Management $112,452$144,122
IX-24e All other expensesPrograms $1,619 · Management $229$1,848
IX-25 Total functional expensesPrograms $707,976 · Management $591,224 · Fundraising $18,732$1,317,932
Part X · Balance sheet $1,456,175 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $740,689$1,361,769
X-2 Savings and temporary cash investmentsStart of year $21,076$21,278
X-4 Accounts receivableStart of year $162,508$20,800
X-9 Prepaid expenses and deferred chargesStart of year $6,989$47,410
X-10c Land, buildings and equipment, netStart of year $842$3,418
X-15 Other assetsStart of year $1,500$1,500
X-16 Total assetsStart of year $933,604$1,456,175
X-17 Accounts payable and accrued expensesStart of year $86,891$116,082
X-19 Deferred revenueStart of year $357,041$850,982
X-26 Total liabilitiesStart of year $443,932$967,064
X-27 Net assets without donor restrictionsStart of year $489,672$489,111
X-32 Total net assets or fund balancesStart of year $489,672$489,111
X-33 Total liabilities and net assetsStart of year $933,604$1,456,175
Part XI · Reconciliation of net assets $489,111 net assets at year end
XI-1 Total revenue$1,317,371
XI-2 Total expenses$1,317,932
XI-3 Revenue less expenses−$561
XI-4 Net assets at start of year$489,672
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$489,111

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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