NonprofitsNational Institute Of Minority Economic Development

National Institute Of Minority Economic Development

DURHAM, NC

Total revenue

$6.5M

Total expenses

$6.7M

Net assets

$14.3M

Grants received

$2.6M

28 grants

EIN

561579041

Tax year

2024

Mission

To strengthen the asset base of diverse populations through policy, education and economic opportunities.

Programs

3 programs

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.

Expenses: $1.3M

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 to grow.

Expenses: $710K

Other programs include business and market development, public allies, center for professional services, policy & research and small business transportation resource center.

Expenses: $1.5M

Financials

FY 2024

Revenue

Contributions & grants$4.1M
Program service revenue$725K
Investment income$907
Other revenue$1.7M
Total revenue$6.5M

Expenses

Grants paid
Salaries & benefits$3.2M
Fundraising$136K
Other expenses$3.5M
Total expenses$6.7M
Total assets$19.1M
Net assets$14.3M

People

19 listed

NameRoleCompensation

KAYE GANTT

CHIEF OP OFFICER

Board

$126K

40 hrs/wk

KEVIN J PRICE

PRESIDENT/CEO

Board

$92K

40 hrs/wk

TANYA BRANCH

CHIEF FINANCIAL OFFI

Board

$60K

40 hrs/wk

LEWIS H MYERS

CHAIRMAN

Board

1 hrs/wk

MICHAEL SUGGS

VICE CHAIRMAN

Board

1 hrs/wk

NIKITRA BAILEY

DIRECTOR

Board

1 hrs/wk

PATRICIA RUSSELL

DIRECTOR

Board

1 hrs/wk

ANGELIQUE D STALLINGS

DIRECTOR

Board

1 hrs/wk

THURMAN SMITH

DIRECTOR

Board

1 hrs/wk

DR TYRONE R BAINES

SECRETARY

Board

1 hrs/wk

MARTIN EAKES

DIRECTOR

Board

1 hrs/wk

TED EDWARDS

DIRECTOR

Board

1 hrs/wk

DR EDWARD FORT

DIRECTOR

Board

1 hrs/wk

ADAM KLEIN

DIRECTOR

Board

1 hrs/wk

SUE MALONE

TREASURER

Board

1 hrs/wk

LEA HENRY

DIRECTOR

Staff

$132K

40 hrs/wk

ANGELA POOLE

VP OF FINANCE

Staff

$121K

40 hrs/wk

ROBERTA MCCULLOUGH

SENIOR VP OPERATIONS

Staff

$110K

40 hrs/wk

JOHN HAM

DIRECTOR

Staff

$102K

40 hrs/wk

Independent contractors

PINEHURST LLC

EVENT PLANNING

$197K

CRAFTSMAN TECHNOLOGY GROUP LLC

TECHNOLOGY

$142K

DG MCGEE ENTERPRISES LLC

PROFESSIONAL AND BUSINESS DEVELOPMENT

$102K

Grants received

Showing 28 of 28

FromAmountPurposeYear
$60K
GENERAL SUPPORT
2024
$21K
ECONOMIC PROSPERITY
2024
$144K
NCCARE 360 PROGRAM GRANT
2023
$111K
ALLY PROGRAM
2023
$30K
ECONOMIC PROSPERITY
2023
$30K
GENERAL SUPPORT
2023
$30K
PERC TECHNICAL ASSISTANCE
2023
$30K
CHARITABLE DONATION
2023
$8K
Grant to support AARP Foundation's Work for Yourself 50+ workshops
2023
$159K
NCCARE 360 PROGRAM GRANT
2022
$50K
PARNERSHIP FOR EQUITABLE & RESILIENT COMMUNITIES
2022
$25K
VIBRANT ECONOMIES
2022
$10K
COMMUNITY SUPPORT
2022
$7K
Sponsorship of 2022 Women's Business Center of Richmond
2022
$5K
CHARITABLE DONATION
2022
$51K
ALLY PROGRAM
2021
$10K
COMMUNITY SUPPORT
2021
$10K
CHARITABLE DONATION
2021
$146K
ALLY PROGRAM
2020
$222K
ALLY PROGRAM
2019
$171K
ALLY PROGRAM
2018
$108K
ALLY PROGRAM
2017

Funded by

$2.6M from 13 funders · 28 grants · 2017–2024

Public Allies Inc

$809K · 6 grants · 2017–2023

Local Initiatives Support Corporation

$384K · 4 grants · 2020–2024

Foundation For Health Leadership And

$303K · 2 grants · 2022–2023

Community Foundation Of Greater

$90K · 2 grants · 2023–2024

The Melville Charitable Trust Inc

$80K · 2 grants · 2022–2023

The Community Foundation Inc

$51K · 2 grants · 2023–2024

Charities Aid Foundation America

$45K · 3 grants · 2021–2023

Details

EIN561579041
Subsection03
Ruling date1988-06
Formed1986
Employees47
Volunteers0
NATIONAL INSTITUTE OF MINORITY ECONOMIC DEVELOPMENT — Mission, Financials & Grants Received | Grantivo