Multi-Cultural Foodservice & Hospitality Alliance
- Assets
- $2.9m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Providence, RI
- Founding
- 05/2000
- Data as of
- 12/2021
- EIN
- 36-4120950
Organization Overview
Multi-Cultural Foodservice & Hospitality Alliance is located in Providence, RI. The organization was established in 2000. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Multi-Cultural Foodservice & Hospitality Alliance is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Multi-Cultural Foodservice & Hospitality Alliance generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 5.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE AND ADVOCATE FOR AND CONNECT ITS MEMBERS WITH OPPORTUNITIES TO BUILD THEIR CULTURAL INTELLIGENCE IN THE FOODSERVICE AND HOSPITALITY INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATE, ADVOCATE AND CONNECT WITH MEMBERSHIP BY PROVIDING PROFESSIONAL DEVELOPMENT AND CULTURAL INTELLIGENCE TRAINING FOR OUR MEMBERS AND THE INDUSTRY. PROMOTING CAREER AND BUSINESS OPPORTUNITIES THAT EXIST WITH MEMBER COMPANIES FOR MINORITY AND MULTICULTURAL COMMUNITIES. CONNECTING INDUSTRY PROFESSIONALS WITH EACH OTHER BY PROVIDING CAREER ENHANCEMENT OPPORTUNITIES, INFORMAL MENTORING AND NETWORKING.
THE PATHWAYS TO BLACK FRANCHISE OWNERSHIP PROGRAM FINANCES AND PREPARES ASPIRING BLACK ENTREPRENEURS TO OPERATE HIGH-PERFORMING RESTAURANTS, WHILE HELPING COMPANIES GROW THEIR BRANDS AND BUILD WEALTH IN THE BLACK COMMUNITY BY EMBRACING A SOCIAL EQUITY OWNERSHIP MODEL. THE PATHWAYS INITIATIVE WILL IDENTIFY, FINANCE AND PREPARE ASPIRING BLACK ENTREPRENEURS TO OPERATE HIGH-PERFORMING RESTAURANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kent Walrack Vice Chair | OfficerTrustee | 5 | $0 |
Marvin Irby CFO Until 10/21, President & CEO | OfficerTrustee | 1 | $0 |
Tom Bene Past President & CEO | OfficerTrustee | 1 | $0 |
Susan Adzick Chair | OfficerTrustee | 5 | $0 |
James Fripp Treasurer | OfficerTrustee | 5 | $0 |
Eric Ellis CFO Beginning 10/2021 | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $485,820 |
| Fundraising events | $0 |
| Related organizations | $148,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $308,700 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $942,520 |
| Total Program Service Revenue | $197,431 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $44,282 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,184,233 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $205,202 |
| Compensation of current officers, directors, key employees. | $51,300 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $157,772 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $89,931 |
| Payroll taxes | $35,899 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $606,560 |
| Advertising and promotion | $1,999 |
| Office expenses | $12,670 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $19,807 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,458 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,738 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,308,333 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,002,103 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,882,141 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,947 |
| Net Land, buildings, and equipment | $3,476 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,892,667 |
| Accounts payable and accrued expenses | $45,783 |
| Grants payable | $0 |
| Deferred revenue | $60,203 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $887,379 |
| Total liabilities | $993,365 |
| Net assets without donor restrictions | -$401,007 |
| Net assets with donor restrictions | $2,300,309 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,892,667 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Multi-Cultural Foodservice & Hospitality Alliance has recieved totaling $148,000.
| Awarding Organization | Amount |
|---|---|
National Restaurant Association Washington, DC PURPOSE: Sponsorship | $148,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |
Connecticut Economic Resource New Haven, CT | $3,997,158 | $4,805,353 |
Greater New Bedford Workforce Investment Board Inc New Bedford, MA | $1,194,439 | $3,887,016 |
Hedco Inc Hartford, CT | $31,561,156 | $3,183,026 |
The Resource Inc For Community And Economic Development North Eastham, MA | $2,064,773 | $3,152,233 |
New England Council Inc Boston, MA | $13,389,867 | $3,995,081 |
Economic Development Corporation Of New Haven New Haven, CT | $1,820,406 | $2,800,912 |
Windham Regional Community Council Inc Willimantic, CT | $1,698,672 | $3,029,839 |
Main South Community Development Corporation Worcester, MA | $15,010,122 | $3,407,145 |
Center For Economic Democracy Boston, MA | $11,558,653 | $3,979,312 |
Waterbury Development Corporation Waterbury, CT | $8,604,069 | $2,421,027 |
Greater Providence-Warwick Convention And Visitors Bureau Providence, RI | $2,565,053 | $3,400,025 |