Nonprofit · EIN 58-1828236
GEORGIA BUSINESS COUNCIL INC
Tax-exempt · ATLANTA, GA 30308
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $2,217,917 | $1,554,268 | $663,649 | $4,269,919 | $178,093 | $4,091,826 |
| December 31, 2023 | 990 | $2,179,489 | $1,661,294 | $518,195 | $3,607,659 | $179,482 | $3,428,177 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $571,045
- Membership dues
- $555,545
- Program service revenue
- $1,276,150
- Investment income
- $58,002
- Net income from fundraising events
- $129,148
- Other revenue
- $312,720
Expenses
- Grants and similar amounts paid
- $9,274
- Compensation of officers, directors and key employees
- $303,883
- Other salaries and wages
- $256,670
- Salaries, compensation and benefits (total)
- $678,133
- Professional fundraising fees
- $0
- Legal fees
- $1,391
- Accounting fees
- $47,225
- Occupancy
- $176,489
- Travel
- $32,604
- Depreciation
- $19,898
- Program services (functional)
- $502,140
- Management and general (functional)
- $870,274
- Fundraising (functional)
- $181,854
Balance sheet and other
- Total assets, start of year
- $3,607,659
- Total assets, end of year
- $4,269,919
- Total liabilities, end of year
- $178,093
- Net assets, end of year
- $4,091,826
- Land, buildings and equipment
- $362,838
- Net assets without donor restrictions
- $4,091,826
- Gross receipts
- $2,258,869
- Employees
- 0
- Volunteers
- 25
- Year formed
- 1987
- State of legal domicile
- GA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| STACEY KEY | PRESIDENT & CEO Trustee or director, Officer | 60 | $303,883 | $37,338 |
| DOUGLAS BURRELL | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| TREMESE DAVIS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| NEDRA DICKSON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| RAVEN SMITH | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| DAVID BRAXTON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| VALERIE NESBITT | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| KEN TAUNTON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JACK MCPHERSON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| FERNANDO HERNANDEZ | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| KEITH AMBERSLEY | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| CLOVICE VAUGHN | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| ADAM WALKER | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| VICKI IRWIN-AVERY | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| STACEY KEY | PRESIDENT & CEO Trustee or director, Officer | 60 | $275,836 | $32,427 |
| DOUGLAS BURRELL | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| TREMESE DAVIS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| NEDRA DICKSON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| TRACEY GRACE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CHRISTI JORDAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| RAVEN SMITH | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| DAN MCNALLY | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| DAVID BRAXTON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| VALERIE NESBITT | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| LAUREN COSTLEY | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| KEN TAUNTON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JACK MCPHERSON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| FERNANDO HERNANDEZ | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| KEITH AMBERSLEY | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| CLOVICE VAUGHN | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| WASSEL LEWIS | VICE CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| VICKI IRWIN-AVERY | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 759 W PEACHTREE ST NE STE 107, ATLANTA, GA 30308-1195
- Principal officer (990 for 2024)
- STACEY KEY, 759 W PEACHTREE STREET NE SUITE 107, ATLANTA, GA 30308
- Signed the 990
- STACEY KEY, PRESIDENT AND CEO
- Phone
- (404) 589-4929
- Website
- WWW.GMSDC.ORG
- Return prepared by
- MARTIN HARPS SYPHOE & CO
Mission
TO FOSTER AND EXPAND MUTUALLY BENEFICIAL ECONOMIC OPPORTUNITIES BETWEEN CERTIFIED MINORITY BUSINESS ENTERPRISES (MBEs) CORPORATIONS, AND GOVERNMENT ENTITIES WITHIN THE STATE OF GEORGIA; AND TO HELP BUILD A STRONGER,
Program accomplishments
- BUSINESS OPPORTUNITY EXPO (BOE)- LARGEST TRADE SHOW OF ITS KIND IN THE STATE OF GEORGIA THAT OFFERS CONCENTRATED INTERACTION BETWEEN PROCUREMENT PROFESSIONALS AND ETHNIC MINORITY SUPPLIERS, STATE-OF-THE-ART DEVELOPMENT SESSIONS AND WORKSHOPS, MBE/CORPORATE MATCHING SESSIONS, INTERNATIONALLY KNOWN SPEAKERS AND EXPERTS AND AS BUSINESS MARKETING TRADE SHOW FLOOR OF HUNDREDS OF EXHIBITORS AND PARTICIPANTS.Expenses $106,853 · revenue $94,550
- DEKALB LSBE - PROVIDES BACKEND SUPPORT TO THE CERTIFICATION AND COMPLIANCE ACTIVITIES GMSDC OFFERS TECHNOLOGY TO MOVE FROM PAPER TO ONLINE APPLICATIONS, PROVIDES 24/7 ACCESS TO THE LSBE DATABASE AND REPORTS AND DEVELOPS A COMPLIANCE PROCESS TO ENSURE APPROPRIATE USE OF LSBES ON DEKALB AWARDED CONTRACTS.Expenses $99,442 · revenue $155,833
- GMSDC ACADEMY - THE WORKSHOP, TRAINING AND SKILL DEVELOPMENT SIDE OF THE ORGANIZATION. FOCUSED ON FULFILLING THE DEVELOP PHASE OF THE ORGANIZTIONS MISSION, THE ACADEMY HOUSES ALL OF THE TRAINING AND EDUCATION PROGRAMS OFFERED DURING THE YEAR FOR MINORITY BUSINESS ENTERPRISE FIRMS TO CLOSE ANY SKILL GAPS THAT EXIST AND ENHANCE THEIR CHANCES FOR WINNING CONTRACTS IN CORPORATE SUPPLY CHAINS.Expenses $109,003 · revenue $21,000
- MINORITY BUSINESS SUMMIT, MBEIC, INDUSTRY GROUPExpenses $186,842 · revenue $106,720
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 58-1828236
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1989
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $4,269,919
- Income (IRS master file)
- $2,258,869
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $2,217,917 | $1,554,268 | $4,269,919 | IRS |
| 990 | December 2023 | $2,179,489 | $1,661,294 | $3,607,659 | IRS |
| 990 | December 2022 | $2,064,280 | $1,569,432 | $3,032,497 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 58-1828236).
Questions about GEORGIA BUSINESS COUNCIL INC
- What is the EIN of GEORGIA BUSINESS COUNCIL INC?
- The employer identification number (EIN) of GEORGIA BUSINESS COUNCIL INC is 58-1828236.
- Is GEORGIA BUSINESS COUNCIL INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1989.
- Are donations to GEORGIA BUSINESS COUNCIL INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does GEORGIA BUSINESS COUNCIL INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of GEORGIA BUSINESS COUNCIL INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did GEORGIA BUSINESS COUNCIL INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of GEORGIA BUSINESS COUNCIL INC?
- The 990 for the year ended December 31, 2024 names STACEY KEY.
- Who are the officers and directors of GEORGIA BUSINESS COUNCIL INC?
- The 990 for the year ended December 31, 2024 lists 14 people; 1 received compensation from the organization, the highest $303,883 (STACEY KEY, PRESIDENT & CEO).
- How much revenue does GEORGIA BUSINESS COUNCIL INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $2,217,917, expenses of $1,554,268 and total assets of $4,269,919 at year end.
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