Ford Minority Dealers Association
- Assets
- $1.0m
- Revenue
- $696.7k
- Investments
- $0.0
- Employees
- 2
- Location
- Lathrup Village, MI
- Founding
- 08/2015
- Data as of
- 12/2021
- EIN
- 37-1656497
Organization Overview
Ford Minority Dealers Association is located in Lathrup Village, MI. The organization was established in 2015. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Ford Minority Dealers Association employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ford Minority Dealers Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Ford Minority Dealers Association generated $696.7k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $827.3k during the year ending 12/2021. 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 IMPROVE THE QUALITY AND QUANTITY OF FORD MOTOR MINORITY OWNED DEALERSHIPS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE MEMBER DEALERSHIPS WITH TECHNICAL ADVICE AND EXPERTISE FOR USE IN IMPROVING THE PERFORMANCE OF THEIR DEALERSHIPS VIA A COHESIVE GROUP OF EXPERIENCED DEALERS. THE ORGANIZATION UTILIZES A WEBSITE AND SERIES OF CONFERENCES TO DISEMINATE THIS INFORMATION TO ITS MEMBERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angelo V Fleming Executive Director | Officer | 40 | $123,256 |
Merlton Brandenberg Secretary | OfficerTrustee | 4 | $0 |
Joe Chastang Past Chairman | OfficerTrustee | 4 | $0 |
Ray Fregia Jr Chairman | OfficerTrustee | 4 | $0 |
Robert Valdes Treasurer | OfficerTrustee | 4 | $0 |
Eddie Hall III Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $551,080 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $65,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $616,580 |
| Total Program Service Revenue | $0 |
| Investment income | $1,728 |
| Tax Exempt Bond Proceeds | $631 |
| Royalties | $0 |
| 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 | $696,745 |
| 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. | $123,256 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $61,108 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $23,629 |
| Payroll taxes | $17,219 |
| Fees for services: Management | $94,748 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,783 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,588 |
| Information technology | $10,133 |
| Royalties | $0 |
| Occupancy | $7,147 |
| Travel | $44,889 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $285,561 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,305 |
| Insurance | $972 |
| All other expenses | $13,513 |
| Total functional expenses | $827,313 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $356,809 |
| Savings and temporary cash investments | $475,344 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $188,040 |
| 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 | $23,725 |
| Net Land, buildings, and equipment | $5,870 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,049,788 |
| Accounts payable and accrued expenses | $8,889 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $8,889 |
| Net assets without donor restrictions | $1,040,899 |
| Net assets with donor restrictions | $0 |
| 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 | $1,049,788 |
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|---|---|---|
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