National Association Of Minority & Women Owned Law Firms Inc
- Assets
- $1.9m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 03/2002
- Data as of
- 12/2023
- EIN
- 39-2034839
Organization Overview
National Association Of Minority & Women Owned Law Firms Inc is located in Chicago, IL. The organization was established in 2002. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Association Of Minority & Women Owned Law Firms Inc 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 12/2023, National Association Of Minority & Women Owned Law Firms Inc generated $2.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $2.2m during the year ending 12/2023. While expenses have increased by 5.6% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVOCATE FOR THE UTILIZATION OF MINORITY AND WOMEN OWNED LAW FIRMS BY MAJOR BUSINESSES AND ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ANNUAL MEETING PROVIDES THREE DAYS OF CONTINUING EDUCATION AND NETWORKING OPPORTUNITIES TO OUR MEMBERS AND IN-HOUSE COUNSEL. WE PROVIDE VALUABLE OPPORTUNITIES FOR OUR MEMBERS TO CONTINUE THEIR EDUCATION, NETWORK, AND OBTAIN NEW BUSINESS. WE ALSO HAVE OUR EXPO WHERE OUR FIRMS ARE ABLE TO SHOWCASE THEIR PRACTICE.
THE DRIVING DIVERSITY AND LEADERSHIP CONFERENCE, FKA THE BUSINESS MEETING, IS SIMILAR TO THE ANNUAL MEETING BUT ON A SMALLER SCALE. IT IS ALIGNED BY PRACTICE AREA AND ATTEMPTS TO MATCH IN-HOUSE AND OUR FIRMS BY PRACTICE. WE ALSO HAVE A LAW FIRM ONLY AFTERNOON DESIGNED TO HELP OUR LAW FIRMS BE MORE SUCCESSFUL. IN ADDITION, WE HAVE IN-HOUSE ONLY SESSIONS TO HELP IN-HOUSE FIND MORE OPPORTUNITIES TO UTILIZE OUR FIRMS.
THE PRACTICE AREA COMMITTEE INITIATIVES WORK TO CREATE MORE OPPORTUNITIES FOR OUR FIRMS IN SPECIFIC AREAS OF PRACTICE. WE WORK WITH OUR FIRMS TO CREATE SPECIALIZED MARKETING PIECES, WEB PAGES, AND EDUCATION FOR COUNSEL BASED ON THEIR SPECIALIZED EXPERIENCE AND EXPERTISE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jamie Rudman Chair | OfficerTrustee | 1 | $0 |
Steve Baker Vice Chair | OfficerTrustee | 1 | $0 |
Nelson Bellido Vice Chair | OfficerTrustee | 1 | $0 |
Eileen Letts Treasurer | OfficerTrustee | 1 | $0 |
Valerie Matherne Secretary | OfficerTrustee | 1 | $0 |
Amanda Alexander Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,500 |
| Noncash contributions included in lines 1a–1f | $10,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,500 |
| Total Program Service Revenue | $2,036,314 |
| Investment income | $661 |
| Tax Exempt Bond Proceeds | $0 |
| 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 | $2,058,475 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $30,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $474,803 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $451,522 |
| Pension plan accruals and contributions | $12,692 |
| Other employee benefits | $99,632 |
| Payroll taxes | $58,565 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $49,289 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $34,429 |
| Advertising and promotion | $8,323 |
| Office expenses | $58,801 |
| Information technology | $62,309 |
| Royalties | $0 |
| Occupancy | $17,112 |
| Travel | $51,473 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $736,007 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,933 |
| Insurance | $1,588 |
| All other expenses | $0 |
| Total functional expenses | $2,229,890 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,015,584 |
| Savings and temporary cash investments | $711,687 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $75,057 |
| 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 | $33,056 |
| Net Land, buildings, and equipment | $4,824 |
| Investments—publicly traded securities | $103,751 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $350 |
| Total assets | $1,944,309 |
| Accounts payable and accrued expenses | $196,945 |
| Grants payable | $0 |
| Deferred revenue | $292,210 |
| 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 | $489,155 |
| Net assets without donor restrictions | $1,452,404 |
| Net assets with donor restrictions | $2,750 |
| 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 | $1,944,309 |
Grants Awarded
Over the last fiscal year, National Association Of Minority & Women Owned Law Firms Inc has awarded $15,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
INSTITUTE FOR INCLUSION IN THE LEGAL PROFESSION PURPOSE: RESEARCH PROJECT FOR UNDERSTANDING AND ASSESSING THE USE OF MINORITY AND WOMEN OWNED LAW FIRMS BY | $15,000 |