Connecticut Minority Supplier Development Council

EIN: 061025890 501(c)(3) Community Improvement

New Haven, CT

Total Revenue
$2,200,658
Total Expenses
$1,757,836
Total Assets
$2,500,695
Net Assets
$2,251,245
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1985
Legal Domicile
CT
Principal Officer
Peter F Hurst Jr
Phone
2032889744
Tax Period
2023-01-01 to 2023-12-31

Connecticut Minority Supplier Development Council, founded in 1985, is a community nonprofit in the Community Improvement sector that reported $2.2M in total revenue in fiscal year 2023. Revenue surged 20% from the prior year, signaling strong growth momentum. The organization ran a surplus of $443K, a strong 20% operating margin.

Mission

ASSISTING MINORITY OWNED COMPANIES IN ESTABLISHING AND PROMOTING THEIR BUSINESS BY FOSTERING BUSINESS RELATIONSHIPS BETWEEN MINORITY SUPPLIERS AND MAJOR PURCHASERS.

Program Service Accomplishments

Program 1
Expenses: $1,379,047 Revenue: $191,550

Assistance to minorities in establishing and promoting their business. Financial assistance and business counseling was provided to members of the council.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,857,709
Program Service Revenue $191,550
Investment Income $39,914
Other Revenue $111,485
TOTAL REVENUE $2,200,658

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,319,644
Fundraising Expenses $107,202
Program Expenses $1,379,047
Other Expenses $438,192
TOTAL EXPENSES $1,757,836

Year-over-Year Comparison

2023 2022 Change
Revenue $2,200,658 $1,831,252 +0.2%
Expenses $1,757,836 $1,417,207 +0.2%
Net Income $442,822 $414,045 +0.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Governance

Voting Members
18
Independent Members
17
Employees
10
Volunteers
17

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$301,090
Total Directors
18
$301,090
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Peter F Hurst Jr President & CEO 40.0
Officer Director
$255,000 $46,090 $301,090
James Linehan Chairman 1.0
Officer Director
$0 $0 $0
Francisco Vasquez Director 1.0
Director
$0 $0 $0
Marc Hamm Director 1.0
Director
$0 $0 $0
April Cimorelli Director 1.0
Director
$0 $0 $0
Ruth Johnson Vice Chair 1.0
Officer Director
$0 $0 $0
Andreas Arnold Director 1.0
Director
$0 $0 $0
Arvin Chaudhary Director 1.0
Director
$0 $0 $0
Ramesh Wadhwani Director 1.0
Director
$0 $0 $0
Sean Cogdell Treasurer 1.0
Officer Director
$0 $0 $0
Monette Knapik Director 1.0
Director
$0 $0 $0
Inga Lee Puentes Director 1.0
Director
$0 $0 $0
Anthony Samuels Director 1.0
Director
$0 $0 $0
Jo-Ann Schlick Director 1.0
Director
$0 $0 $0
Michael White Director 1.0
Director
$0 $0 $0
Ramon Peralta Director 1.0
Director
$0 $0 $0
Jerry Epps Director 1.0
Director
$0 $0 $0
Saken Khokhar Director 1.0
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $2,200,658 $1,757,836 $2,500,695 $442,822
2022 $1,831,252 $1,417,207 $2,034,113 $414,045
2021 $1,411,834 $986,401 $1,812,694 $425,433
2020 $1,175,638 $812,197 $1,433,918 $363,441
2019 $1,014,635 $851,784 $930,613 $162,851
2018 $1,087,646 $1,054,431 $672,605 $33,215
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