NATIONAL INSTITUTE OF MINORITY ECO… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1986

Legal Domicile

Principal Officer

KEVIN J PRICE

Phone

9199568889

Tax Period

2023-01-01 to 2023-12-31

NATIONAL INSTITUTE OF MINORITY ECONOMIC DEVELOPMENT, founded in 1986, is a mid-sized nonprofit that reported $12.2M in total revenue in fiscal year 2023. Revenue surged 91% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.4M, a strong 36% operating margin.

Mission

TO STRENGTHEN THE ASSET BASE OF DIVERSE POPULATIONS THROUGH POLICY, EDUCATION AND ECONOMIC OPPORTUNITIES.

Program Service Accomplishments

Program 1

Expenses: $1,196,997

WOMEN'S BUSINESS CENTER - ARE LOCATED IN THE RALEIGH-DURHAM AREA, CHARLOTTE, RICHMOND, AND GREENSBORO AND STRIVE TO PROMOTE ECONOMIC SELF-SUFFICIENCY FOR WOMEN IN NORTH CAROLINA AND VIRGINA, IN BOTH RURAL AND URBAN COMMUNITIES, THROUGH ENTREPRENEURSHIP. THE WBCS ARE PARTIALLY FUNDED BY THE U.S. SMALL BUSINESS ADMINISTRATION AWARDS.

Program 2

Expenses: $1,079,940

INSTITUTE CAPITAL - A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) CERTIFIED BY THE U.S. DEPARTMENT OF THE TREASURY. THIS STATEWIDE PUBLIC PRIVATE PARTNERSHIP PROVIDES LEADERSHIP AND CAPITAL...

INSTITUTE CAPITAL - A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) CERTIFIED BY THE U.S. DEPARTMENT OF THE TREASURY. THIS STATEWIDE PUBLIC PRIVATE PARTNERSHIP PROVIDES LEADERSHIP AND CAPITAL INVESTMENTS TO ENCOURAGE AND STIMULATE COMMUNITY DEVELOPMENT, EXPAND ECONOMICOPPORTUNITIES, AND PROVIDE FINANCING FOR COMMUNITY AND ECONOMIC DEVELOPMENT ACTIVITIES.

Program 3

Expenses: $528,803

SMALL BUSINESS NONPROFIT INCUBATOR - RENTAL SPACE IS PROVIDED TO SMALL BUSINESSES / NONPROFIT ORGANIZATIONS AT BELOW-MARKET RATES IN AN EFFORT TO HELP STRENGTHEN THEIR OPERATING CAPACITY AND ABILITY...

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $9,328,500

Program Service Revenue $1,531,500

Investment Income $700

Other Revenue $1,333,731

TOTAL REVENUE $12,194,431

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,435,164

Fundraising Expenses $148,568

Program Expenses $5,147,144

Other Expenses $4,384,436

TOTAL EXPENSES $7,819,600

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,194,431	$6,397,874	+0.9%
Expenses	$7,819,600	$5,089,182	+0.5%
Net Income	$4,374,831	$1,308,692	+2.3%

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

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

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

$395,378

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NIKITRA BAILEY	DIRECTOR	1.00	Director	$0	$0	$0
DR TYRONE R BAINES	SECRETARY	1.00	Officer Director	$0	$0	$0
MARTIN EAKES	DIRECTOR	1.00	Director	$0	$0	$0
TED EDWARDS	DIRECTOR	1.00	Director	$0	$0	$0
DR EDWARD FORT	DIRECTOR	1.00	Director	$0	$0	$0
KARLA HAYNES	DIRECTOR	1.00	Director	$0	$0	$0
ADAM KLEIN	DIRECTOR	1.00	Director	$0	$0	$0
SUE MALONE	TREASURER	1.00	Officer Director	$0	$0	$0
LEWIS H MYERS	CHAIRMAN	1.00	Officer Director	$0	$0	$0
TROY ROBERTS	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL SUGGS	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
THURMAN SMITH	DIRECTOR	1.00	Director	$0	$0	$0
JEANNE TEDROW	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN J PRICE	PRESIDENT/CEO	40.00	Officer	$181,927	$14,702	$196,629
KAYE GANTT	CHIEF OP OFFICER	40.00	Officer	$126,352	$12,814	$139,166
TANYA BRANCH	CHIEF FINANCIAL OFFI	40.00	Officer	$59,583	$0	$59,583
ROBERTA MCCULLOUGH	SENIOR VP OPERATIONS	40.00	Highest	$115,376	$12,578	$127,954
ANGELA POOLE	VP OF FINANCE	40.00	Highest	$117,184	$12,553	$129,737
LEA HENRY	DIRECTOR	40.00	Highest	$100,904	$0	$100,904

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	$12,194,431	$7,819,600	$18,823,541	$4,374,831
2022	$6,397,874	$5,089,182	$12,740,351	$1,308,692
2021	$4,581,072	$4,429,302	$11,354,840	$151,770
2020	$1,722,745	$1,720,549	$8,985,701	$2,196
2019	$1,379,962	$1,467,006	$2,131,005	$-87,044

NATIONAL INSTITUTE OF MINORITY ECONOMIC DEVELOPMENT