Overview
What is Cooperative Fund Of The Northeast Inc?
Cooperative Fund of the Northeast Inc is a nonprofit organization situated in Watertown, Massachusetts. Their primary focus is to provide financial and educational assistance to nonprofit and cooperative organizations, with a special emphasis on aiding those in greatest need. Their mission is to promote community-based, cooperative, and democratically owned or managed enterprises, with a preference towards those serving low-income communities. They currently have a team of 14 individuals dedicated to their cause.
Official website here: www.cooperativefund.org
What are the reviews and ratings of this charity?
81% rating from Charity Navigator indicates that Cooperative Fund Of The Northeast Inc maintains a solid level of accountability and financial management, earning it a Three-Star out of Four Star rating. The score is based entirely on the Accountability & Finance beacon, which provides insight into the organization's transparency and governance practices.
Strengths highlighted include a fully independent board, with all 12 members being independent, and a strong commitment to financial oversight, as demonstrated by their audit and oversight committee. Additionally, the organization has implemented comprehensive policies regarding conflicts of interest, whistleblower protections, and document retention, which further reinforces its accountability.
While the financial health appears stable, with a program expense ratio of 81.41%, details about the salaries of key personnel have been noted. The Executive Director and Deputy Executive Director earn significant salaries, which could raise questions about compensation levels in relation to the charity's overall financial management. Nonetheless, the lack of any material diversion of assets speaks positively to the organization's integrity.
This AI summary has been generated from information found on Charity Navigator.
Is Cooperative Fund Of The Northeast Inc legitimate?
Cooperative Fund Of The Northeast Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cooperative Fund Of The Northeast Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $319,160
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,010,416
For more financial information, click here
Official website here: www.cooperativefund.org
What is the mission statement of Cooperative Fund Of The Northeast Inc?
The Cooperative Fund of the Northeast Inc's mission is centered around supporting community-based, cooperative, and democratically owned or managed enterprises. They particularly show preference towards enterprises that serve low-income communities. To accomplish this, the organization provides both financial and educational assistance to nonprofit and cooperative organizations, primarily focusing on those in need within the Northeast region. Their primary goal is to foster the growth and success of these cooperatives, ultimately contributing to the betterment of their respective communities.
Official website here: www.cooperativefund.org
What is the revenue of Cooperative Fund Of The Northeast Inc?
Cooperative Fund Of The Northeast Inc's revenue in 2023 was $4,114,478.
Official website here: www.cooperativefund.org
Who are the executives of Cooperative Fund Of The Northeast Inc and what are their salaries?
The average compensation at Cooperative Fund Of The Northeast Inc during 2023 was $88,638. There are 15 employees and 12 volunteers at Cooperative Fund Of The Northeast Inc.
Here are 17 key members and their salaries:
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- Compensation: $5,000
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- Compensation: $3,333
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- Compensation: $5,000
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- Compensation: $136,600
- Related: $0
- Other: $9,948
- Compensation: $148,960
- Related: $0
- Other: $10,319
- Compensation: $108,280
- Related: $0
- Other: $9,098
Official website here: www.cooperativefund.org
Where can I find the form 990 for Cooperative Fund Of The Northeast Inc?
Cooperative Fund Of The Northeast Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.cooperativefund.org
Learn more at the official website: www.cooperativefund.org
Mission Statement of Cooperative Fund Of The Northeast Inc
The Cooperative Fund of the Northeast Inc is committed to promoting and supporting community-based, cooperative, and democratically owned or managed enterprises. Their mission is to advocate for these types of enterprises, with a particular focus on those that serve low-income communities. In pursuit of this goal, the Cooperative Fund provides both financial and educational assistance to nonprofit and cooperative organizations, primarily within the Northeast region. The organization strives to extend its aid to those in greatest need.
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Impact
July, 2024
The impact of the Cooperative Fund Of The Northeast Inc is profound in advancing community-based, cooperative, and democratically owned or managed enterprises. By providing financial and educational assistance to cooperative organizations primarily within the Northeast region, they strive to uplift those in greatest need. Their mission is to support enterprises that serve low-income communities, promoting economic empowerment and sustainable solutions. Through their efforts, they are driving positive change and fostering a more inclusive and cooperative economy.
This information is meant to be a general summary of Cooperative Fund Of The Northeast Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $229,574
- Program Service Revenue: $2,242,412
- Gross Receipts: $4,114,478
Assets and Liabilities:
- Total Assets: $47,930,923
- Total Liabilities: $35,160,069
- Net Assets: $12,770,854
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON PROGRAM LO
Revenue
$2,115,546
OTHER PROGRAM LOAN FEE
Revenue
$126,866
Organization Details
Founding Year
1975
Principal Officer
Kimberly R Lyle
Website
www.cooperativefund.orgNTEE Category
Code: T50Z - Philanthropy
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