Houston Business Development Inc
- Assets
- $15.7m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 10
- Location
- Houston, TX
- Founding
- 04/2019
- Data as of
- 12/2020
- EIN
- 76-0216784
Organization Overview
Houston Business Development Inc is located in Houston, TX. The organization was established in 2019. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2020, Houston Business Development Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Houston Business Development Inc 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 12/2020, Houston Business Development Inc generated $3.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.6% each year . All expenses for the organization totaled $2.3m during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATIONS MISSION IS STIMULATE ECONOMIC GROWTH, COMBAT COMMUNITY DETERIORATION, REVITALIZE UNDER-SERVED COMMUNITIES, AND FACILITATE THE BULDING OF SAFE,VIBRANT AND HEALTHY NEIGHBORHOODS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALONG WITH PROVIDING SMALL AND MINORITY BUSINESSES FLEXIBLE AND AFFORDABLE BUSINESS LOANS, MANAGEMENT AND TECHNICAL ASSISTANCE SERVICES AND OFFICE SPACE AT REASONABLE RENTS AT ITS BUSINESS TECHNOLOGY CENTER (BTC OR PALM CENTER), HBDI NOW OFFERS A MORE COMPREHENSIVE APPROACH TO COMMUNITY DEVELOPMENT, INCLUDING CREDIT MANAGEMENT TRAINING, SMALL BUSINESS INCUBATION, THE DEVELOPMENT OF AFFORDABLE SINGLE-FAMILY HOMES AND MULTI-FAMILY RENTAL APARTMENTS, AND THE ADAPTIVE REUSE OF COMMERCIAL PROPERTIES IN UNDERSERVED NEIGHBORHOODS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marlon Mitchell President & CEO | Officer | 40 | $99,689 |
Larry Hawkins Chairman | OfficerTrustee | 1 | $0 |
Ziwadi Bryant Treasurer | OfficerTrustee | 1 | $0 |
Phillip Aitsebaomo Vice Chairman | OfficerTrustee | 1 | $0 |
Benny Rodriguez Secretary | OfficerTrustee | 1 | $0 |
Clark Lord Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Recruiting Source International Llc Contract Service | 12/30/20 | $461,327 |
System Soft Technologies Llc Contract | 12/30/20 | $224,760 |
Robert Half International Inc Contract Service | 12/30/20 | $171,435 |
Tech Therapy Lp It Services | 12/30/20 | $126,227 |
Risma Inc Construction | 12/30/20 | $145,120 |
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 | $2,640,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,640,000 |
| Total Program Service Revenue | $974,866 |
| Investment income | $0 |
| 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 | $3,620,643 |
| 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. | $127,782 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $351,937 |
| Pension plan accruals and contributions | $7,700 |
| Other employee benefits | $117,545 |
| Payroll taxes | $22,711 |
| 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 | $0 |
| Advertising and promotion | $9,534 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $132,161 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $103,530 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $21,954 |
| All other expenses | $1,242,201 |
| Total functional expenses | $2,322,368 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,632,126 |
| Savings and temporary cash investments | $250,264 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,808,704 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $87,942 |
| Net Land, buildings, and equipment | $3,258,040 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,647,755 |
| Total assets | $15,684,831 |
| Accounts payable and accrued expenses | $94,030 |
| Grants payable | $0 |
| Deferred revenue | $39,755 |
| 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 | $2,025,719 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $969,612 |
| Total liabilities | $3,129,116 |
| Net assets without donor restrictions | $9,090,542 |
| Net assets with donor restrictions | $3,465,173 |
| 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 | $15,684,831 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Houston Business Development Inc has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Mufg Union Bank Foundation Ag Phoenix, AZ PURPOSE: CHARITABLE | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dreamspring Albuquerque, NM | $203,163,761 | $25,298,598 |
Peoplefund Austin, TX | $66,108,373 | $14,535,836 |
Houston Business Development Inc Houston, TX | $15,684,831 | $3,620,643 |
Dallas-Fort Worth Minority Supplier Development Council Inc Dallas, TX | $2,296,676 | $2,035,236 |
Community Certified Development Corporation Houston, TX | $1,043,060 | $1,562,471 |
Maestro Leadership Foundation San Antonio, TX | $111,028 | $560,727 |
Louisiana Minority Business Council Inc New Orleans, LA | $480,017 | $745,389 |
Feed The Soul Foundation Houston, TX | $1,697,498 | $2,202,752 |
Ventana Fund Albuquerque, NM | $15,372,019 | $578,725 |
South Central Texas Regional Certification Agency San Antonio, TX | $105,207 | $402,040 |
Small Business Capital Corporation Tulsa, OK | $360,944 | $280,630 |
Cohabitat Foundation Shreveport, LA | $338,988 | $238,718 |