Carolinas-Virginia Minority Supplier Developoment Councils Inc

Analysis

Carolinas-Virginia Minority Supplier Developoment Councils Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in April 1983, 43 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Carolinas-Virginia Minority Supplier Developoment Councils Inc reported income of $1.4m and spending of $1.3m, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.4m (+26%), an average of +5.9% a year. The sharpest change came in the year to December 2020, when income rose by 25%. Over the whole period it spent 80% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Carolinas-Virginia Minority Supplier Developoment Councils Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within NC. Charities of a similar size with the same main cause include College Park City-University Partnership Inc ($1.4m), Stafford County Economic Development Inc ($1.4m) and Centro Por LA Justicia ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 51% of the total. Other salaries and wages came to $515k. At year end it held assets of $1.7m against liabilities of $48k, net assets of $1.6m. It reported 7 employees.