At Pittsburgh Theological Seminary, we believe our suppliers, like our associates, should reflect the communities we serve. By including and supporting diverse businesses in our supply chain, we create opportunity, promote innovation, and stimulate growth that enriches our marketplace as a whole.
In addition to fulfilling tax obligations, the information below will help us connect diverse talent, investors, researchers, and other historically underrepresented groups to the entrepreneurial ecosystem.
Unlike vendor diversity programs of the past (which are typically limited to tracking minority ownership), this new initiative will use this survey to also track the representation of women, racial minorities, and LGBTQ individuals within a vendor’s employee base, leadership team, and board of directors. It will evaluate the vendor’s use of inclusive practices for recruiting, retaining, and advancing members of traditionally marginalized groups as well.
Question and Answer Section
How will my information be used?
The name of your business, tax ID number, business address, and business type fields are necessary for completing federal 1099-MISC tax forms. If we do not have your correct information on file, the IRS can require us to withhold 28% of your payments.
The information on diversity will assist PTS with measuring how much of the money we spend goes to diverse suppliers. In addition, we will use your answers together with our other suppliers to support state-wide and local initiatives that equalize opportunities among underrepresented and underserved groups of people.
Is my business a "Small Business?"
The U.S. Small Business Association (SBA) provides specific qualifications and registration forms. Generally, unless your business involves commercial farming, if you have fewer than 100 employees and your total income plus your cost of goods sold is less than $7.5 million, then you have a Small Business.
Is my business a "Small Disadvantaged Business?"
According to the SBS, Small Disadvantaged Businesses must meet the requirements of a Small Business and also be 51% owned and controlled by one or more disadvantaged persons, which is a designation for those who are socially and economically disadvantaged. For more information and to register, visit the SBA website.
Is my business a "(HUB) Zone Business?"
The SBA defines HUB Zones as areas that have high unemployment, low median household incomes, or both. The SBA maintains maps of HUB Zones. In addition to meeting the SBA Small Business Requirements, the principal offices of HUB Zone Businesses must be located in HUB Zones and 35% of a HUB Zone Business' employees must reside in a HUB Zone. To apply for certification, visit the SBA website.
Why is there an "Other" option for the ownership status and minority group questions?
Diversity and inclusion are ever-evolving fields that demand constant re-evaluation. If you believe that you and your business are not represented by any of the categories listed in this form, we would like to hear about it.
Why does PTS value diversity and inclusion?
PTS believes that diversity and inclusion are essential for not only the strength of our business, but also the vitality of the communities we serve. Research shows that a focus on diverse suppliers has a high return on investment and increases competition, which cultivates the innovation of new and improved products and services.
US Census data from 2012 shows that while women make up over half of the US population, women-owned businesses comprise only 35.8% of all firms in the US. In terms of average revenue, women-owned firms earn 25% less than male-owned firms. When it came to race in 2012, the typical minority-owned business made almost 10 times less in average sales than the typical nonminority-owned firm. PTS's Diversity Supplier Program addresses these staggering disparities by ensuring we choose our suppliers in the most equitable way possible- by being conscious and inclusive of diversity.