Annual Report - Minnesota Black Chamber of Commerce

An Alliance of
Business Leaders
And Entrepreneurs
Building Community
A new era business association
momentum
2015 Annual Report
Minnesota Black Chamber of Commerce
401 North Robert Street, Suite 150
Saint Paul, MN 55101
651.224.4320 | www.minnesotabcc.org
We Believe....
momentum
MBCC encourages its members to participate in the
organization by supporting and sponsoring its programs
and events, serving as volunteers, and engaging in
commerce with African American owned businesses
as well as those owned by other people of color. In
2014, MBCC contracted with and received competitive pricing, on-time delivery, and outstanding quality
service from the following diverse vendors.
The UPS Store #6440 - Lindy Vincent, Owner
Minuteman Press Uptown - Frank Brown, Owner
David Cottom Catering - David Cottom, Owner
Pinnacle Photography - Barry McDaniel, Owner
Every Little Detail Event Planning - Yvette Griffea-Gray, Owner
Patagonia Visual Solutions - Gustavo Rosso, Owner
momentum
Our Vision
A stable and thriving African heritage business association that promotes and improves the
general welfare, prosperity, and interconnectedness of the community of African heritage.
Our Mission
To serve the economic and entrepreneurial advancement of people of African heritage in the
State of Minnesota.
Our Value Proposition
….to our Corporate Partners:
Provide access to businesses of African Heritage.
Provide industry research, data, and information on services and/or products that target
the black consumer.
…to our Entrepreneurial Constituents:
Provide access to key decision makers.
Promote and facilitate black business commerce.
…to our Community:
Provide the local community access to black businesses.
Promote local business commerce that fosters jobs and economic prosperity.
Our Core Strategic Goals
12 | 2013 Annual Report
•
Grow a strong, vital and united black business community
•
Create jobs in the community that result from the growth of our member businesses
•
Promote business to business commerce with our corporate partners and between our
member businesses; and
•
Influence legislation that affects our businesses and our community.
MBCC – Collaboration | 1
LEADERSHIP
LETTER
On behalf of the Board of Directors, staff, and stakeholders, we would like to extend our gratitude to all
who worked so hard to strengthen and enhance the Minnesota Black Chamber of Commerce (MBCC)
this year. 2014-15 marked another year on the move as MBCC was enthusiastically encouraging,
preparing, and supporting entrepreneurialism.
Highlights of the year included our continued focus on providing access to capital, managing our Small
Business Impact Fund and working with African heritage businesses to strengthen their organizational
and business capacity. We are especially grateful to the Northwest Area Foundation for the grant to
support our High Growth Development Business Project. The Northwest Area Foundation has been a
crucial partner to the Chamber this year.
This past year, we shared resources by providing information on available tax credits and the latest
data on minority businesses in Minnesota. Many Business-to-Business (B2B) opportunities were
presented as we linked members with industry powerhouses, such as the “How to do business with
the U of M seminar,” and promoted MWBE business and engagement opportunities. We greatly
strengthened our offerings by developing our new Chamber Member Software Platform; promoted
the many successes of our Members; and provided information via our MBCConnection e-newsletter.
A special accomplishment, as always, was offering our own—and promoting others’—college scholarship
opportunities. Whether it was providing small business workshops, promoting webinars on bolstering
credit, or advertising bid opportunities for Member Businesses, the Chamber was on the move.
In the midst of working on a new narrative that will guide us in years to come, it was our events and
activities that were arguably some of the most enjoyable, memorable and informative during this past
year. We remember making a cultural connection during our Black History Month gathering “Voices
of the Past, Lessons For Today”; mixing purpose with fun at the Fifth Annual College Scholars Golf
Classic, and profiling the lessons learned with a group of our leading entrepreneurs and sharing the
expert knowledge of the top black legal and financial professionals in the Twin Cities at the incredible
afternoon we spent at Gray Plant Mooty for our “Emerging Business Growth and Succession Summit.”
Because of you, this was a growth year for the Chamber. Because of you, this was a refocus year for the
Chamber. And, because of you, more businesses received access to capital and participated in a host of
information and education sharing opportunities.
We are grateful for all the ways you were on the move this past year, dedicating your time and energies
to encouraging, preparing, and supporting entrepreneurialism. Congratulations on another successful
year. There’s a lot of work left to do, so join us this coming year as we continue to walk and work
together, always on the move.
Lea Hargett
President and CEO
2 | 2014 Annual Report
*missing photo’s Murugan Palani and Jennifer Jackson
BOARD OF DIRECTORS
CHAIR ¦
VICE CHAIR ¦
SECRETARY ¦
TREASURER ¦
PRESIDENT/CEO ¦
DIRECTORS ¦
Frederic Estes, Estes Gifts & News . . . . . . . . . . Executive Committee Chair
Alan Reid, EMPO Corporation
Michael Fondungallah, Fondungallah & Kigham . . Advocacy Committee Chair
Jenifer Jackson, Syngenta . . . . . . . . . . . . . . . . Finance Committee Chair
Lea Hargett, JOG Associates
Fredrick Blocton, UpNet Client Solutions Group. . Technology Committee Chair
Gloria Freeman, Olu’s Home . . . . . . . . Business Education Committee Chair
Tim Houston, Houston Publishing & Consulting . . Marketing Committee Chair
Chuck Okitipi, Avenue Staffing
Murugan Palani, Xcel Energy
Shawn Pearson, Essentia Health . . . . . . . . . . Membership Committee Chair
Hillary Swanson,
Blue Cross and Blue Shield of MN . . . . . . College Scholars Committee Chair
Organizational Team
Ashley Blocton – Social Media and Event Coordinator
EveryLittle Detail – Event Management
JOG Associates – Social Media; Operations Management; Chamber Strategy;
Executive Management
OLIcom – Webmaster and IT Support and Project Manager
Beatrice David Associates – Accounting Firm
Todd Barnes – Development; Communications
Frederic Estes
Chairman of the Board
MBCC – Momentum | 11
Thank You 2014 Sponsors and Volunteers
Sponsors
Blue Cross Blue Shield of Minnesota | Gray Plant Mooty | Minnesota Twins Baseball Organization
THOR Construction | THOR Sustainability | EMPO Corporation
Volunteers
Sunny Bakta, Jolene Blocton, Kiara Ellis, Kurtez Ellis, Alvena Farrar, Beatrice Nyirabahizi, Eri O’Diah,
Aida Pinero, Raechell Pullett, Deneane Richburg, Dorothy Richburg, Joe Richburg, Cedric Swanson,
Tamiko Trott-Binns, Monique Toney, Deborah Yungner, Emily Gorski
momentum
2014 Annual Report
Special thanks to: Mr. Tony Oliva, Minnesota Twins, Retired MLB
NEW ERA SPONSORS
As a statewide organization, MBCC is committed to expanding
its capacity to represent the emergent market of entrepreneurs
and small businesses and to help them grow, expand and
flourish in the blended marketplace of ideas, commerce and
community. Along with many other strategies, the MBCC formed
the New Era Sponsor affiliation to help it achieve its goals.
New Era Sponsors belong to an elite group of corporations,
private businesses, and individuals who are committed to
supporting the Minnesota Black Chamber of Commerce capacity
building and program development initiatives. Xcel Energy was the first MBCC New Era Sponsor.
New Era Sponsors acknowledge the importance of supporting the Minnesota Black Chamber in
fulfilling its mission. These generous contributions fund the chambers general operations. New Era
Sponsors have immensely supported the chambers efforts to create a solid sustainable foundation
to better serve its business members and the Minnesota communities which it represents. Thank you
New Era Sponsors!
10 | 2014 Annual Report
TABLE OF CONTENTS
2014 Year in Review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 4
Financial Statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 5
Access to Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 6
Member Benefits & Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 7
Future Leaders – College Scholars Initiative . . . . . . . . . . . . . . . . . . . . page 8
Volunteer-of-the-Year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 9
On the Horizon. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 9
Sponsors – Volunteers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 10
Board of Directors – Organization Team . . . . . . . . . . . . . . . . . . . . . . page 11
MBCC – Momentum | 3
2014 YEAR IN REVIEW
The Minnesota Black Chamber of Commerce thanks everyone who has given of their time, money, energy
and enthusiasm. We recognize that the power of one is LIMITED but the power of many working together
as one is LIMITLESS! Through the years many individuals commitment to the MBCC goes above and
beyond. This year we recognize the extraordinary effort of .....
•
•
•
•
•
•
•
•
•
•
•
Received $100k - two year grant from Northwest Area Foundation to support the MBCC High
Growth Business Development Project initiative
Delivered 100 hours of business consulting to 10 aspiring and micro business owners
Made 4 SBIF loans to businesses located in north Minneapolis 55411 and 55412 areas.
Collaborated with Council on Black Minnesotans around MBCC advocacy platform for black
business participation on public projects
Advocated for increased commitment to providing black business opportunity through
discretionary contract spending
Provided early support to the MinnVest Legislation
Represented Minnesota black business at the National Black Chamber of Commerce Convention
Published 56 issues of MBCConnection e-newsletter as a business and community information
and opportunity resource.
Co-Sponsored “Emerging Business Growth & Succession Summit” with Gray Plant Mooty and
Twins Cities Latino Business Network. 80 plus business attendees. Participating organizations
included: Sunbelt Business Brokers; Myslajek Kemp & Spencer, Ltd; Engelmeier & Umanah,
P.A.; Foster Klima & Company, Inc. Topics included: “Preparing for a Successful Business
Purchase or Expansion”; “Critical Lessons Learned from Leading Entrepreneurs”; Key
Accounting/Tax and Wealth/Risk Management Strategies to Preserve and Enhance Your Legacy.”
Provided planning support to Minnesota Twins Jackie Robinson essay contest; participated in
Jackie Robinson Day game celebration; and participated in the Diversity Networking event.
Expanded and assigned board leadership within committee structure to manage key
organizational responsibility: Membership, Technology, Advocacy, College Scholars,
Marketing/Communications, Organizational Development, Executive, and Finance
MBCC Board Members serve on the following external committees as advisors, strategists, and
governance partners.
•
•
•
•
•
Governor’s Diversity and Inclusion Council – Contracting Practices Committee
Northside Jobs Creation Task Force – Executive and Big Fish Committee
Ramsey County Workforce Committee
St. Paul College President’s Advisory Board
Everybody In MSAE Diversity and Inclusiveness Taskforce
Volunteer-of-the-Year
Kiara Ellis
Kiara Ellis is a Minnesota native currently serving as a Community Health Coordinator
for the University of Minnesota's Masonic Cancer Center. She is currently working
to obtain her Master’s Degree in Social Work with an emphasis on Policy, Leadership,
and Program Development from the University of Minnesota. Through her health
disparities work, Kiara has been able to foster genuine connections and serve as an
advocate for social change and the advancement of persons of color. It is also noteworthy to recognize
that Kiara Ellis is a budding entrepreneur.”
Kiara has been a volunteer with the chamber since 2014 supporting the College Scholars Golf Classic,
Annual Meeting, and Black History Celebration. This year she has taken on an added role of member
engagement and is currently planning the production of a new chamber video promo. MBCC has been
the true benefactor of Kiara’s generous spirit. We thank Kiara for all she gives!
Northwest Area Foundation
Minnesota Black Chamber of Commerce (MBCC) is working to evolve from an all-volunteer organization
(AVO) to a staffed organization. With the support received from the Northwest Area Foundation,
MBCC is one step closer. The grant from the Northwest Area Foundation provided funding support for
program development, marketing/branding, and high growth business consulting. MBCC was able to
continue its work with the Small Impact Loan Fund (SBIF), expand the loan committee, and provide
consulting services to African American entrepreneurs. As the NWAF funding term ends, MBCC will
continue to move to the next level of service, advocacy, and impact. We thank the NWAF for investing
in our organization.
The MBCC strives to expand its organizational capacity to provide greater strategic business planning,
expand existing and roll-out new business programs, and provide services that support the economic
growth of its member businesses.
ON THE HORIZON .....
Bringing capital access to the minority business community can provide real and substantial impact to
communities of color by helping targeted businesses to create jobs and inspire others to become
business owners. MBCC’s predominant goals are:
a. Raise additional funds to expand the Onyx platform;
b. Enhance the focus on supporting member businesses;
c. Raise additional loan capital and administrative dollars to expand the lending footprint within
and beyond its current geographic service area; and
d. Strengthen the MBCC organizational infrastructure.
4 | 2014 Annual Report
MBCC – Momentum | 9
Future Leaders:
College Scholars Initiative
In 2009, the MBCC established its college scholars fund to develop future business leaders and business
owners by addressing the issues faced by African American and other students of color which contribute
to their high-risk of dropping out of college.
The MBCC College Scholar Program vision includes mentoring, internship, tutoring, and financial
assistance, targeting students that are interested in careers in business and entrepreneurship. The
chamber established its first collaborative partnership with the University YMCA, working together
through its Collegiate Achiever Program (Y-CAP) which focuses on college and career readiness and
retention practices. MBCC has also expanded its partnerships to include the Black Data Processing
Associates (BDPA), Twin Cities Chapter. The chamber plans to align its business members and constituents
to offer summer internships, career mentoring, guest speakers, and exposure to business networking
for the college students sponsored by its’ program. Still in the fund development stage, the near
term goal is to hire our first college summer intern, identify and support two new scholars beginning
this Fall, increase the scholars fund, and begin the development of the program.
FUNDRAISING FOR OUR FUTURE LEADERS
Annual College Scholars Golf Classic – Golf fundraising event benefiting the MBCC College Scholar
program. The Golf Classic tournament features 18 holes of golf, luncheon and award recognitions for
team play. Celebrity guest, hole sponsors, college scholar, MBE/WBE and corporate sponsor recognitions,
BBQ Buffet, raffle and prizes. Lots of fun for a good cause! A wonderful networking event!
UMOJA Celebration – The chamber awards three (3) black-owned member businesses for their
demonstrated business excellence and commitment to the community, and honors a business advocate
of the year, for its demonstrated commitment to supporting black owned businesses and economic
development in the community of color. The Umoja Celebration raises funds for the College Scholar
initiative and general operations.
FINANCIAL STATEMENT
December 31, 2014
Unaudited statements of financial position and related statements of activities and changes in net assets,
functional expense and cash flows
STATEMENT OF NET ASSETS
ASSETS:
Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $261,214
Other Current Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $113,927
Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $375,141
LIABILITIES & EQUITY:
Current Liabilities . . . .
Restricted Net Assets . .
Unrestricted ( Net Assets)
Total Assets . . . . . . .
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. . $51,501
. $365,832
. . .$47,843
. $375,141
STATEMENT OF ACTIVITIES SUPPORT:
Contributions . . . . . . . . . . . . . . . .
Event Income. . . . . . . . . . . . . . . . .
Membership . . . . . . . . . . . . . . . . .
Other Income . . . . . . . . . . . . . . . .
Total Income . . . . . . . . . . . . . . . .
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. $93,9181
. . $41,971
. . . $5,300
. . . $1,309
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. $142,498
EXPENSES:
Membership and Program
Management and General
Fundraising . . . . . . . . .
Total Expenses . . . . . .
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. . $38,536
. . $38,209
. . $60,102
. $136,847
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NET INCOME . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $5,651
8 | 2014 Annual Report
MBCC – Momentum | 5
ACCESS TO CAPITAL
MEMBER BENEFITS AND SERVICES
BUSINESS LENDING TO BUSINESS
The Small Business Impact Fund (SBIF) provides loans to small businesses in north Minneapolis that 1) cannot
currently obtain credit from conventional sources, and/or 2) need bridge financing. SBIF principal capital is
leveraged with other lending funds to ensure the long-term economic impact of the fund and to grow the fund
and extend its life cycle.
Lending preferences are given to business opportunities that create or retain local employment in north Minneapolis.
Business must be located in the 55411 and 55412 areas. All businesses in the designated area are welcomed to
apply. Special emphasis is placed on lending to African American owned businesses to close the disparity gap.
Loans range from $1,000 to $25,000 for working capital, equipment, and inventory.
Bringing capital access to the minority business community provides real and substantial impact to communities
of color by helping distribute capital to targeted businesses, thereby creating jobs, and inspiring others to become
business owners.
MBCC’s goal is to leverage capital and business support to play its part in building a stronger and sustainable
business community.
IMPACT
4 loans made to date= $72,500
Total lending IMPACT thru leveraged funds= $408,000
SMALL BUSINESS IMPACT PROFILE - MOBILIZE DESIGN &
ARCHITECTURE, LLC
Mobilize Design & Architecture,LLC, (MDA) is a partnership of Jamil Ford and David
Witt. MDA provides architectural design, community engagement and planning services
to diverse communities, and respects the diversity found in the communities it serves.
Founded in 2010 in north Minneapolis, MDA reaches out to non-profit and for-profit
groups working in the northside community and beyond to provide opportunities for
economic growth. MDA’s goal is to establish a business that will leave a positive legacy
for the families who live in the housing MDA designs and the people who work in the
commercial developments it creates.
MDA ACCOMPLISHMENTS:
•
•
•
The company has now been placed on the Hennepin County,
Minneapolis Public Schools, and the University of Minnesota
Preferred Vendor Lists.
Completed out-of-state project - The Fellowship Estates,
Detroit, MI
Other local projects include: The Curve, North High Lighting Minneapolis Public Schools, The Satori (280 Units Housing and
Commercial), Mixed-Use Development, Rise and Shine
Daycare, New Construction (7,500 SF), Adult Education
Facility - Minneapolis School District, Early Childhood
Partnership with University of MN, Expansion into Willard
Elementary – Minneapolis School District
6 | 2014 Annual Report
The MBCC serves as a clearinghouse for business information and opportunity, business advocate,
referral and development resource. While the focus of the organization is on African heritage
communities, our membership is open to all persons regardless of race, creed, origin, or political
affiliation. Value added member benefits include:
•
Business Networking
•
B2B Connections
•
Small Business Loans
•
Business Promotional Opportunities
•
Business Education Sessions
•
Branding Opportunities
The Chamber promotes its member’s products and services, provides business education and
networking to keep you and your business in the public eye. The MBCC offers its members various
programs, tools, and events, such as:
Business Networking – focus is on connecting member businesses with decision makers through
events sponsored by the chamber and its partners.
Member B2B Platform – MBCC encourages its members to engage in business with one another.
Understanding the importance of supporting one another and recycling our dollars builds a strong
community. To this end, the chamber is preparing to launch its new database, ONYX. This is our
next generation tool for chamber members to market, enhance and grow their business. With ONYX,
members have access to multiple tools that can be used to enhance business development and
management. ONYX will give members the ability to connect with other members, customers, social
media, websites and other methods of marketing; it will be an excellent administrative and sales tool
for our members. The dynamic technology of ONYX will help members deliver
a marketing campaign, sales campaign and all things necessary to market and
maintain your business. ONYX will propel the members of the Minnesota Black
Chamber of Commerce to the next generation of doing business in the State
of Minnesota.
Business Education – focuses on providing current information on business operations, marketing,
financial management, technology, and more. Our business education sessions are facilitated by
leading subject matter experts. Attendees network with Minnesota business leaders as they learn
about current business trends and how to sustain and advance their businesses.
After receiving initial business technical
assistance from the Northside Economic
Opportunity (NEON), MDA received joint
loan financing from the Minnesota Black
Chamber of Commerce and Neighborhood Development Center (NDC) for their
work on the ‘Commonsat Penn’ project.
“Emerging Business Growth &
Succession Summit” – Co-Sponsored
by Gray Plant Mooty, MBCC,
and Twins Cities Latino Business
Network.
MBCC – Momentum | 7
ACCESS TO CAPITAL
MEMBER BENEFITS AND SERVICES
BUSINESS LENDING TO BUSINESS
The Small Business Impact Fund (SBIF) provides loans to small businesses in north Minneapolis that 1) cannot
currently obtain credit from conventional sources, and/or 2) need bridge financing. SBIF principal capital is
leveraged with other lending funds to ensure the long-term economic impact of the fund and to grow the fund
and extend its life cycle.
Lending preferences are given to business opportunities that create or retain local employment in north Minneapolis.
Business must be located in the 55411 and 55412 areas. All businesses in the designated area are welcomed to
apply. Special emphasis is placed on lending to African American owned businesses to close the disparity gap.
Loans range from $1,000 to $25,000 for working capital, equipment, and inventory.
Bringing capital access to the minority business community provides real and substantial impact to communities
of color by helping distribute capital to targeted businesses, thereby creating jobs, and inspiring others to become
business owners.
MBCC’s goal is to leverage capital and business support to play its part in building a stronger and sustainable
business community.
IMPACT
4 loans made to date= $72,500
Total lending IMPACT thru leveraged funds= $408,000
SMALL BUSINESS IMPACT PROFILE - MOBILIZE DESIGN &
ARCHITECTURE, LLC
Mobilize Design & Architecture,LLC, (MDA) is a partnership of Jamil Ford and David
Witt. MDA provides architectural design, community engagement and planning services
to diverse communities, and respects the diversity found in the communities it serves.
Founded in 2010 in north Minneapolis, MDA reaches out to non-profit and for-profit
groups working in the northside community and beyond to provide opportunities for
economic growth. MDA’s goal is to establish a business that will leave a positive legacy
for the families who live in the housing MDA designs and the people who work in the
commercial developments it creates.
MDA ACCOMPLISHMENTS:
•
•
•
The company has now been placed on the Hennepin County,
Minneapolis Public Schools, and the University of Minnesota
Preferred Vendor Lists.
Completed out-of-state project - The Fellowship Estates,
Detroit, MI
Other local projects include: The Curve, North High Lighting Minneapolis Public Schools, The Satori (280 Units Housing and
Commercial), Mixed-Use Development, Rise and Shine
Daycare, New Construction (7,500 SF), Adult Education
Facility - Minneapolis School District, Early Childhood
Partnership with University of MN, Expansion into Willard
Elementary – Minneapolis School District
6 | 2014 Annual Report
The MBCC serves as a clearinghouse for business information and opportunity, business advocate,
referral and development resource. While the focus of the organization is on African heritage
communities, our membership is open to all persons regardless of race, creed, origin, or political
affiliation. Value added member benefits include:
•
Business Networking
•
B2B Connections
•
Small Business Loans
•
Business Promotional Opportunities
•
Business Education Sessions
•
Branding Opportunities
The Chamber promotes its member’s products and services, provides business education and
networking to keep you and your business in the public eye. The MBCC offers its members various
programs, tools, and events, such as:
Business Networking – focus is on connecting member businesses with decision makers through
events sponsored by the chamber and its partners.
Member B2B Platform – MBCC encourages its members to engage in business with one another.
Understanding the importance of supporting one another and recycling our dollars builds a strong
community. To this end, the chamber is preparing to launch its new database, ONYX. This is our
next generation tool for chamber members to market, enhance and grow their business. With ONYX,
members have access to multiple tools that can be used to enhance business development and
management. ONYX will give members the ability to connect with other members, customers, social
media, websites and other methods of marketing; it will be an excellent administrative and sales tool
for our members. The dynamic technology of ONYX will help members deliver
a marketing campaign, sales campaign and all things necessary to market and
maintain your business. ONYX will propel the members of the Minnesota Black
Chamber of Commerce to the next generation of doing business in the State
of Minnesota.
Business Education – focuses on providing current information on business operations, marketing,
financial management, technology, and more. Our business education sessions are facilitated by
leading subject matter experts. Attendees network with Minnesota business leaders as they learn
about current business trends and how to sustain and advance their businesses.
After receiving initial business technical
assistance from the Northside Economic
Opportunity (NEON), MDA received joint
loan financing from the Minnesota Black
Chamber of Commerce and Neighborhood Development Center (NDC) for their
work on the ‘Commonsat Penn’ project.
“Emerging Business Growth &
Succession Summit” – Co-Sponsored
by Gray Plant Mooty, MBCC,
and Twins Cities Latino Business
Network.
MBCC – Momentum | 7
Future Leaders:
College Scholars Initiative
In 2009, the MBCC established its college scholars fund to develop future business leaders and business
owners by addressing the issues faced by African American and other students of color which contribute
to their high-risk of dropping out of college.
The MBCC College Scholar Program vision includes mentoring, internship, tutoring, and financial
assistance, targeting students that are interested in careers in business and entrepreneurship. The
chamber established its first collaborative partnership with the University YMCA, working together
through its Collegiate Achiever Program (Y-CAP) which focuses on college and career readiness and
retention practices. MBCC has also expanded its partnerships to include the Black Data Processing
Associates (BDPA), Twin Cities Chapter. The chamber plans to align its business members and constituents
to offer summer internships, career mentoring, guest speakers, and exposure to business networking
for the college students sponsored by its’ program. Still in the fund development stage, the near
term goal is to hire our first college summer intern, identify and support two new scholars beginning
this Fall, increase the scholars fund, and begin the development of the program.
FUNDRAISING FOR OUR FUTURE LEADERS
Annual College Scholars Golf Classic – Golf fundraising event benefiting the MBCC College Scholar
program. The Golf Classic tournament features 18 holes of golf, luncheon and award recognitions for
team play. Celebrity guest, hole sponsors, college scholar, MBE/WBE and corporate sponsor recognitions,
BBQ Buffet, raffle and prizes. Lots of fun for a good cause! A wonderful networking event!
UMOJA Celebration – The chamber awards three (3) black-owned member businesses for their
demonstrated business excellence and commitment to the community, and honors a business advocate
of the year, for its demonstrated commitment to supporting black owned businesses and economic
development in the community of color. The Umoja Celebration raises funds for the College Scholar
initiative and general operations.
FINANCIAL STATEMENT
December 31, 2014
Unaudited statements of financial position and related statements of activities and changes in net assets,
functional expense and cash flows
STATEMENT OF NET ASSETS
ASSETS:
Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $261,214
Other Current Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $113,927
Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $375,141
LIABILITIES & EQUITY:
Current Liabilities . . . .
Restricted Net Assets . .
Unrestricted ( Net Assets)
Total Assets . . . . . . .
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. . $51,501
. $365,832
. . .$47,843
. $375,141
STATEMENT OF ACTIVITIES SUPPORT:
Contributions . . . . . . . . . . . . . . . .
Event Income. . . . . . . . . . . . . . . . .
Membership . . . . . . . . . . . . . . . . .
Other Income . . . . . . . . . . . . . . . .
Total Income . . . . . . . . . . . . . . . .
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. $93,9181
. . $41,971
. . . $5,300
. . . $1,309
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. $142,498
EXPENSES:
Membership and Program
Management and General
Fundraising . . . . . . . . .
Total Expenses . . . . . .
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. . $38,536
. . $38,209
. . $60,102
. $136,847
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NET INCOME . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $5,651
8 | 2014 Annual Report
MBCC – Momentum | 5
2014 YEAR IN REVIEW
The Minnesota Black Chamber of Commerce thanks everyone who has given of their time, money, energy
and enthusiasm. We recognize that the power of one is LIMITED but the power of many working together
as one is LIMITLESS! Through the years many individuals commitment to the MBCC goes above and
beyond. This year we recognize the extraordinary effort of .....
•
•
•
•
•
•
•
•
•
•
•
Received $100k - two year grant from Northwest Area Foundation to support the MBCC High
Growth Business Development Project initiative
Delivered 100 hours of business consulting to 10 aspiring and micro business owners
Made 4 SBIF loans to businesses located in north Minneapolis 55411 and 55412 areas.
Collaborated with Council on Black Minnesotans around MBCC advocacy platform for black
business participation on public projects
Advocated for increased commitment to providing black business opportunity through
discretionary contract spending
Provided early support to the MinnVest Legislation
Represented Minnesota black business at the National Black Chamber of Commerce Convention
Published 56 issues of MBCConnection e-newsletter as a business and community information
and opportunity resource.
Co-Sponsored “Emerging Business Growth & Succession Summit” with Gray Plant Mooty and
Twins Cities Latino Business Network. 80 plus business attendees. Participating organizations
included: Sunbelt Business Brokers; Myslajek Kemp & Spencer, Ltd; Engelmeier & Umanah,
P.A.; Foster Klima & Company, Inc. Topics included: “Preparing for a Successful Business
Purchase or Expansion”; “Critical Lessons Learned from Leading Entrepreneurs”; Key
Accounting/Tax and Wealth/Risk Management Strategies to Preserve and Enhance Your Legacy.”
Provided planning support to Minnesota Twins Jackie Robinson essay contest; participated in
Jackie Robinson Day game celebration; and participated in the Diversity Networking event.
Expanded and assigned board leadership within committee structure to manage key
organizational responsibility: Membership, Technology, Advocacy, College Scholars,
Marketing/Communications, Organizational Development, Executive, and Finance
MBCC Board Members serve on the following external committees as advisors, strategists, and
governance partners.
•
•
•
•
•
Governor’s Diversity and Inclusion Council – Contracting Practices Committee
Northside Jobs Creation Task Force – Executive and Big Fish Committee
Ramsey County Workforce Committee
St. Paul College President’s Advisory Board
Everybody In MSAE Diversity and Inclusiveness Taskforce
Volunteer-of-the-Year
Kiara Ellis
Kiara Ellis is a Minnesota native currently serving as a Community Health Coordinator
for the University of Minnesota's Masonic Cancer Center. She is currently working
to obtain her Master’s Degree in Social Work with an emphasis on Policy, Leadership,
and Program Development from the University of Minnesota. Through her health
disparities work, Kiara has been able to foster genuine connections and serve as an
advocate for social change and the advancement of persons of color. It is also noteworthy to recognize
that Kiara Ellis is a budding entrepreneur.”
Kiara has been a volunteer with the chamber since 2014 supporting the College Scholars Golf Classic,
Annual Meeting, and Black History Celebration. This year she has taken on an added role of member
engagement and is currently planning the production of a new chamber video promo. MBCC has been
the true benefactor of Kiara’s generous spirit. We thank Kiara for all she gives!
Northwest Area Foundation
Minnesota Black Chamber of Commerce (MBCC) is working to evolve from an all-volunteer organization
(AVO) to a staffed organization. With the support received from the Northwest Area Foundation,
MBCC is one step closer. The grant from the Northwest Area Foundation provided funding support for
program development, marketing/branding, and high growth business consulting. MBCC was able to
continue its work with the Small Impact Loan Fund (SBIF), expand the loan committee, and provide
consulting services to African American entrepreneurs. As the NWAF funding term ends, MBCC will
continue to move to the next level of service, advocacy, and impact. We thank the NWAF for investing
in our organization.
The MBCC strives to expand its organizational capacity to provide greater strategic business planning,
expand existing and roll-out new business programs, and provide services that support the economic
growth of its member businesses.
ON THE HORIZON .....
Bringing capital access to the minority business community can provide real and substantial impact to
communities of color by helping targeted businesses to create jobs and inspire others to become
business owners. MBCC’s predominant goals are:
a. Raise additional funds to expand the Onyx platform;
b. Enhance the focus on supporting member businesses;
c. Raise additional loan capital and administrative dollars to expand the lending footprint within
and beyond its current geographic service area; and
d. Strengthen the MBCC organizational infrastructure.
4 | 2014 Annual Report
MBCC – Momentum | 9
Thank You 2014 Sponsors and Volunteers
Sponsors
Blue Cross Blue Shield of Minnesota | Gray Plant Mooty | Minnesota Twins Baseball Organization
THOR Construction | THOR Sustainability | EMPO Corporation
Volunteers
Sunny Bakta, Jolene Blocton, Kiara Ellis, Kurtez Ellis, Alvena Farrar, Beatrice Nyirabahizi, Eri O’Diah,
Aida Pinero, Raechell Pullett, Deneane Richburg, Dorothy Richburg, Joe Richburg, Cedric Swanson,
Tamiko Trott-Binns, Monique Toney, Deborah Yungner, Emily Gorski
momentum
2014 Annual Report
Special thanks to: Mr. Tony Oliva, Minnesota Twins, Retired MLB
NEW ERA SPONSORS
As a statewide organization, MBCC is committed to expanding
its capacity to represent the emergent market of entrepreneurs
and small businesses and to help them grow, expand and
flourish in the blended marketplace of ideas, commerce and
community. Along with many other strategies, the MBCC formed
the New Era Sponsor affiliation to help it achieve its goals.
New Era Sponsors belong to an elite group of corporations,
private businesses, and individuals who are committed to
supporting the Minnesota Black Chamber of Commerce capacity
building and program development initiatives. Xcel Energy was the first MBCC New Era Sponsor.
New Era Sponsors acknowledge the importance of supporting the Minnesota Black Chamber in
fulfilling its mission. These generous contributions fund the chambers general operations. New Era
Sponsors have immensely supported the chambers efforts to create a solid sustainable foundation
to better serve its business members and the Minnesota communities which it represents. Thank you
New Era Sponsors!
10 | 2014 Annual Report
TABLE OF CONTENTS
2014 Year in Review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 4
Financial Statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 5
Access to Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 6
Member Benefits & Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 7
Future Leaders – College Scholars Initiative . . . . . . . . . . . . . . . . . . . . page 8
Volunteer-of-the-Year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 9
On the Horizon. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 9
Sponsors – Volunteers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 10
Board of Directors – Organization Team . . . . . . . . . . . . . . . . . . . . . . page 11
MBCC – Momentum | 3
LEADERSHIP
LETTER
On behalf of the Board of Directors, staff, and stakeholders, we would like to extend our gratitude to all
who worked so hard to strengthen and enhance the Minnesota Black Chamber of Commerce (MBCC)
this year. 2014-15 marked another year on the move as MBCC was enthusiastically encouraging,
preparing, and supporting entrepreneurialism.
Highlights of the year included our continued focus on providing access to capital, managing our Small
Business Impact Fund and working with African heritage businesses to strengthen their organizational
and business capacity. We are especially grateful to the Northwest Area Foundation for the grant to
support our High Growth Development Business Project. The Northwest Area Foundation has been a
crucial partner to the Chamber this year.
This past year, we shared resources by providing information on available tax credits and the latest
data on minority businesses in Minnesota. Many Business-to-Business (B2B) opportunities were
presented as we linked members with industry powerhouses, such as the “How to do business with
the U of M seminar,” and promoted MWBE business and engagement opportunities. We greatly
strengthened our offerings by developing our new Chamber Member Software Platform; promoted
the many successes of our Members; and provided information via our MBCConnection e-newsletter.
A special accomplishment, as always, was offering our own—and promoting others’—college scholarship
opportunities. Whether it was providing small business workshops, promoting webinars on bolstering
credit, or advertising bid opportunities for Member Businesses, the Chamber was on the move.
In the midst of working on a new narrative that will guide us in years to come, it was our events and
activities that were arguably some of the most enjoyable, memorable and informative during this past
year. We remember making a cultural connection during our Black History Month gathering “Voices
of the Past, Lessons For Today”; mixing purpose with fun at the Fifth Annual College Scholars Golf
Classic, and profiling the lessons learned with a group of our leading entrepreneurs and sharing the
expert knowledge of the top black legal and financial professionals in the Twin Cities at the incredible
afternoon we spent at Gray Plant Mooty for our “Emerging Business Growth and Succession Summit.”
Because of you, this was a growth year for the Chamber. Because of you, this was a refocus year for the
Chamber. And, because of you, more businesses received access to capital and participated in a host of
information and education sharing opportunities.
We are grateful for all the ways you were on the move this past year, dedicating your time and energies
to encouraging, preparing, and supporting entrepreneurialism. Congratulations on another successful
year. There’s a lot of work left to do, so join us this coming year as we continue to walk and work
together, always on the move.
Lea Hargett
President and CEO
2 | 2014 Annual Report
*missing photo’s Murugan Palani and Jennifer Jackson
BOARD OF DIRECTORS
CHAIR ¦
VICE CHAIR ¦
SECRETARY ¦
TREASURER ¦
PRESIDENT/CEO ¦
DIRECTORS ¦
Frederic Estes, Estes Gifts & News . . . . . . . . . . Executive Committee Chair
Alan Reid, EMPO Corporation
Michael Fondungallah, Fondungallah & Kigham . . Advocacy Committee Chair
Jenifer Jackson, Syngenta . . . . . . . . . . . . . . . . Finance Committee Chair
Lea Hargett, JOG Associates
Fredrick Blocton, UpNet Client Solutions Group. . Technology Committee Chair
Gloria Freeman, Olu’s Home . . . . . . . . Business Education Committee Chair
Tim Houston, Houston Publishing & Consulting . . Marketing Committee Chair
Chuck Okitipi, Avenue Staffing
Murugan Palani, Xcel Energy
Shawn Pearson, Essentia Health . . . . . . . . . . Membership Committee Chair
Hillary Swanson,
Blue Cross and Blue Shield of MN . . . . . . College Scholars Committee Chair
Organizational Team
Ashley Blocton – Social Media and Event Coordinator
EveryLittle Detail – Event Management
JOG Associates – Social Media; Operations Management; Chamber Strategy;
Executive Management
OLIcom – Webmaster and IT Support and Project Manager
Beatrice David Associates – Accounting Firm
Todd Barnes – Development; Communications
Frederic Estes
Chairman of the Board
MBCC – Momentum | 11
momentum
Our Vision
A stable and thriving African heritage business association that promotes and improves the
general welfare, prosperity, and interconnectedness of the community of African heritage.
Our Mission
To serve the economic and entrepreneurial advancement of people of African heritage in the
State of Minnesota.
Our Value Proposition
….to our Corporate Partners:
Provide access to businesses of African Heritage.
Provide industry research, data, and information on services and/or products that target
the black consumer.
…to our Entrepreneurial Constituents:
Provide access to key decision makers.
Promote and facilitate black business commerce.
…to our Community:
Provide the local community access to black businesses.
Promote local business commerce that fosters jobs and economic prosperity.
Our Core Strategic Goals
12 | 2013 Annual Report
•
Grow a strong, vital and united black business community
•
Create jobs in the community that result from the growth of our member businesses
•
Promote business to business commerce with our corporate partners and between our
member businesses; and
•
Influence legislation that affects our businesses and our community.
MBCC – Collaboration | 1
We Believe....
momentum
MBCC encourages its members to participate in the
organization by supporting and sponsoring its programs
and events, serving as volunteers, and engaging in
commerce with African American owned businesses
as well as those owned by other people of color. In
2014, MBCC contracted with and received competitive pricing, on-time delivery, and outstanding quality
service from the following diverse vendors.
The UPS Store #6440 - Lindy Vincent, Owner
Minuteman Press Uptown - Frank Brown, Owner
David Cottom Catering - David Cottom, Owner
Pinnacle Photography - Barry McDaniel, Owner
Every Little Detail Event Planning - Yvette Griffea-Gray, Owner
Patagonia Visual Solutions - Gustavo Rosso, Owner
An Alliance of
Business Leaders
And Entrepreneurs
Building Community
A new era business association
momentum
2015 Annual Report
Minnesota Black Chamber of Commerce
401 North Robert Street, Suite 150
Saint Paul, MN 55101
651.224.4320 | www.minnesotabcc.org