Upstate Minority Economic Alliance Inc
- Assets
- $134.3k
- Revenue
- $198.9k
- Investments
- $0.0
- Employees
- 4
- Location
- Syracuse, NY
- Founding
- 11/2017
- Data as of
- 12/2023
- EIN
- 81-1046358
Organization Overview
Upstate Minority Economic Alliance Inc is located in Syracuse, NY. The organization was established in 2017. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Upstate Minority Economic Alliance Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Upstate Minority Economic Alliance 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, Upstate Minority Economic Alliance Inc generated $198.9k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 18.3% each year . All expenses for the organization totaled $203.8k during the year ending 12/2023. 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
OUR MISSION IS TO ESTABLISH A SMALL, COOPERATIVE COMMUNITY IN UPSTATE & CENTRAL NEW YORK WHERE THE MOST DRIVEN INDIVIDUALS CAN NETWORK, ACQUIRE AND SHARE PRICELESS TALENTS, AND DEVELOP BOTH PERSONALLY AND PROFESSIONALLY. AS A RESULT, WE AIM TO CONTRIBUTE TO THE ENORMOUS UNREALIZED POTENTIAL OF OUR REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE UPSTATE MINORITY ECONOMIC ALLIANCE, INC. IS A NOT-FOR-PROFIT ORGANIZATION WHOSE PRIMARY PURPOSE IS TO PROMOTE THE GENERAL WELFARE AND PROSPERITY OF UPSTATE NEW YORK THROUGH ENHANCED MINORITY ECONOMIC OPPORTUNITY; ADVANCE THE CIVIC, COMMERCIAL, ECONOMIC, INDUSTRIAL AND AGRICULTURAL INTERESTS OF THE MINORITY BUSINESS COMMUNITY IN UPSTATE NEW YORK; FOSTER TRADE, COMMERCE AND ECONOMIC ACTIVITY IN CENTRAL UPSTATE NEW YORK; PROMOTE; MAINTAIN AND SUSTAIN ECONOMIC PROGRESS FOR MINORITY BUSINESS ENTERPRISES IN UPSTATE NEW YORK; AND SUSTAIN ECONOMIC PROGRESS FOR MINORITY BUSINESS ENTERPRISES IN UPSTATE NEW YORK; AND SUPPORT ENTREPRENEURSHIP WITH PROGRAMMING AND INTERNSHIPS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jalyn Clifford Director/secretary | OfficerTrustee | 1 | $0 |
Bishop Ronald Dewberry Director | Trustee | 1 | $0 |
Sheena Solomon President | OfficerTrustee | 1 | $0 |
Hasan Stephens Director | Trustee | 1 | $0 |
Natasha M Newbury Director/treasurer | OfficerTrustee | 1 | $0 |
Laura Cueva 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 | $151,649 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $151,649 |
| Total Program Service Revenue | $51,525 |
| 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 | -$4,250 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $198,924 |
| 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. | $90,585 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,389 |
| Pension plan accruals and contributions | $255 |
| Other employee benefits | $2,026 |
| Payroll taxes | $9,302 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,160 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21,307 |
| Advertising and promotion | $0 |
| Office expenses | $5,046 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,679 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $199 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $486 |
| Insurance | $5,992 |
| All other expenses | $7,244 |
| Total functional expenses | $203,796 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $97,926 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $26,085 |
| Accounts receivable, net | $0 |
| 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 | $10,067 |
| Net Land, buildings, and equipment | $243 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $134,321 |
| Accounts payable and accrued expenses | $8,644 |
| Grants payable | $0 |
| Deferred revenue | $15,102 |
| 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 | $10,884 |
| Total liabilities | $34,630 |
| Net assets without donor restrictions | $0 |
| 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 | $99,691 |
| Total liabilities and net assets/fund balances | $134,321 |