Frequently Asked Questions

Who is DiversityBusinessVault.com?
DiversityBusinessVault.com is a service offered by Abator, powered by Lolopop's Business Intelligence tools.  Abator is a women-owned and operated information technology company. We were first WBE (women business enterprise) certified in 1989, when the process was much simpler.  Abator maintains over 10 of these certifications, which requires us to organize, retain and share lots of supporting documents.  DiversityBusinessVault.com is our solution for storing and protecting these critical documents. [Back to top]

What is diverse or diversity?
Diverse or diversity is an easy way to refer to all minorities and women with a single word. Often the term “minority” is used to describe a group that represents a smaller percentage of the total population than another group or groups. In the United States a minority is a person who is an American Indian or Alaskan Native, Asian, Black or African American, Native Hawaiian or Other Pacific Islander, or a person whose ethnicity is Hispanic or Latino. Women are also considered among the minority group because historically, they had  limited access  to educational and professional opportunities.  [Back to top]

What is a Diversity Certificate?
Many state, federal, and third party agencies have programs that are used to certify diverse suppliers. This is referred to as a diversity certification process. Once the business successfully completes the process, it is awarded a certificate to prove it is diversity owned.

These programs help level the playing field for diverse businesses in government and corporate buying processes. Government agencies and most corporate purchasing activities require spending a certain percent of their purchasing dollars with diverse suppliers. In many cases, prime contractors are required to follow the same process to help their customers meet diversity spend goals.  Federal, state and local governments have published these diversity spend goals (which most of corporate America uses). The Government-wide Federal Procurement Contract Award Goals are:

  • 23 percent of prime contracts for small business;
  •  5 percent of prime and subcontracts for small disadvantaged business (minority);
  •  5 percent of prime and subcontracts for woman-owned business;
  •  3 percent of prime contracts for HUBZone small businesses (SBA program);
  •  3 percent of prime and subcontracts for service-disabled veteran-owned businesses.

In 2004 corporations purchased goods and services worth more than $87.4 billion from diversity-owned businesses.

In order to prove that diverse suppliers are participating in and awarded contract dollars, each organization must get copies of the supplier's diversity certificate.  Certifying and tracking dollars spent with diverse business has become a big issue. It is a political hot potato at the federal level, because these goals are not being met. Diversity certification will continue to grow in importance.  [Back to top]

What services are available?
DiversityBusinessVault.com provides secure, organized storage of the documents and paperwork that you must submit with its application. This gives you a remote secure backup location for all sorts of important paperwork, protecting it from damage or loss during catastrophic events like a fire, hurricane or earthquake.

Our sister site, GetDiversityCertified.com offers support for getting certified, filing annual updates and generting the re-certification applications usually required every three years. Maintaining certifications for our clients is a major aspect of GetDiversityCertified.com: notifying you when materials are due to whom; prompting you to upload annual documents; and, alerting you whenever certification rules or processes change.

Additional consulting services are available: review of application materials (technical or legal); or assistance in the application process itself.  [Back to top]

How do I know my information is secure and protected?
We've taken all the industry standard precautions for computer hardware, software and operating systems.  Because we're serious, our security features protect your data in a variety of ways. We do not publish or share the addresses of our server facility locations. The servers are maintained in a physically secure locations with limited access. These facilities are manned 24x7, monitored by video cameras and protected by alarm systems.  And, Lolopop's software makes it virtually impossible to relate data and files to you or your business.  Essentially, your information can't be used by anyone else.  And, here's why:

  • Vaults on DiversityBusinessVault.com and GetDiversityCertified.com can only be opened through Account Security with protected passwords.
  • Only a Vault Owner can invite others to visit a Vault. The Owner can restrict what the visitor can see or do based on the security level chosen by the Owner. An Owner can also cancel a visitor's rights or downgrade their security level.
  • The information transferred from the Owner and visitors to a Vault is protected by encryption software over the internet.
  • Each Vault has two repositories. One is semi-public ... available to the Vault Owner and all approved visitors.  A second, private repository restricted to the Vault Owner and limited, pre-authorized visitors.
  • A Vault  is protected by a GUID, a very large (128 bit alphanumeric character) identification key that can't be duplicated ... and without the key, it is almost impossible to open a Vault.
  • Abator and Lolopop staff members do not have access to your information unless you invite one of us to visit your Vault.  Each staff member has signed confidentiality statements agreeing to protect our clients' information.  Any breach of confidentiality will be prosecuted to the fullest extent of the law.  [Back to top]

What does it cost to use DiversityBusinessVault.com? 
The enrollment fee for DiversityBusinessVault.com covers registration, software to securely invite visitors to your vault and secure document storage gigabytes of documents and/or images.  This service is priced as an insurance policy, in four convenient enrollment types, with pre-payment by credit card.     [Back to top]

How do I pay for this?
Payment is made using the secure website payment processing screen. Most major credit cards are accepted.  [Back to top]

What documents will I need to get certified?
When your business pursues diversity certification, a number of supporting documents are required.  Abator is routinely required to provide 100 to 150 pages of supporting documents (we're a 20+ year old corporation with five owners) when applying for a diversity certification. The following is a partial list of those documents:

  • Last three years of Federal tax returns (returns must show owners/officers’ salaries and dividends (if a corporation), salaries, and distribution of profits to owners and senior management).
  • Copy of Federal tax form 941 filed for the two most recent quarters.
  • Last three years’ W2 and/or 1099 forms for all owners, directors, officers, and senior management.
  • Resumes of all owners, directors, officers, and senior management. Must be up-to-date, chronological and detailed. Should describe experience and/or training in the type of business being conducted.
  • Copies of any relevant licenses, certificates of training, and degrees held by the company or its owners/employees.
  • Copy of the Articles of Incorporation or Copy of Certificate of Organization.
  • Copy of stock certificates (front and back of each certificate) and stock transfer ledger for corporations.
  • Copy of corporation by-laws.
  • Copy of the record/minutes of first corporate organization meeting.
  • Copy of minutes from the stockholder meeting where current board of directors was elected. Some agencies will require copies of original stockholder meeting record/minutes.
  • Copy of operating agreements.
  • Copies of partnership, buy-out rights, and profit-sharing agreements.
  • Copies of all rental or lease agreements and/or management service agreements (e.g., office space, equipment, car rental, etc.). Copy of deed or lease, if the business is home-based.
  • Copies of any signed financial documents relating to loans for the business.
  • Copy of the initial form(s) signed when the company’s bank accounts were opened, showing who is authorized to write checks or transact other banking business. Older businesses may be required to submit current bank signature cards.
  • Explanations and proof of how primary owner(s) financed the establishment or purchase of the business (i.e., how it was capitalized). If ownership was obtained by other means (inheritance, gift, etc.).
  • Copies of three recent contracts or client invoices (invoices given to clients). If the business is a supplier, provide manufacturer’s agreements or invoices for products sold.
  • Copies of several recent checks to demonstrate signatures.
  • Copies of equipment lists (depreciation schedules) and owned vehicle titles.
  • If seeking disadvantaged status, copies of Personal Net Worth Statements for each major owner.
  • Copy of any other diversity certifications that have been awarded.
  • Copy of one of the following proofs of citizenship: certificate of US citizenship, certificate of naturalization, birth certificate, passport, or tribal card.
  • Copy of company’s Fictitious Name Registry (or Doing Business As – DBA).
  • The following documents may also be required: stock options; ownership options; stockholder agreements; buy-out rights; stockholder voting rights; restrictions on selling stock; loan agreements; information about share value; ownership of voting securities; control of trust, etc. [Back to top]