Overview
What is Bgm Inc?
Bgm Inc is a nonprofit organization dedicated to the dual mission of fostering education and building communities, while primarily focusing on the development of affordable housing for low-income individuals. By offering low-income housing, Bgm Inc works to improve living conditions and provide a stable environment for those in need, while their educational and community-building initiatives aim to empower and uplift the communities they serve.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 87%, Three-Star out of Four Star rating.
Bgm Inc demonstrates a strong commitment to accountability and financial transparency, achieving an overall score of 87%. This rating reflects the charity's effective governance practices, including an entirely independent board and robust conflict of interest policies. The organization also maintains a solid program expense ratio of 75.59%, indicating that a significant portion of its funds is directed towards its mission-driven activities.
The charity’s strengths are highlighted by its perfect scores in various governance areas, such as having a majority of independent board members and comprehensive whistleblower and document retention policies. These factors contribute to a trustworthy operational framework that aims to protect donor interests and maintain transparency.
However, there are some limitations to note; while the organization scored well on most indicators, its liabilities to assets ratio of 59.13% suggests potential financial risk that could impact future stability. Overall, Bgm Inc is a well-structured organization with strong governance, but stakeholders should be mindful of its financial ratios.
This AI summary has been generated from information found on Charity Navigator.
Is Bgm Inc legitimate?
Bgm Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bgm 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.
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What is the mission statement of Bgm Inc?
BGM Inc's mission revolves around educational and community development, as well as the construction of low-income housing. Their initiatives aim to foster education and community while addressing the housing needs of less fortunate individuals. Specifically, BGM Inc implements programs that offer low-income housing to those in need.
Who is the CEO of Bgm Inc?
Frank Richardson is the Secretary of Bgm Inc.
What is the revenue of Bgm Inc?
Bgm Inc's revenue in 2022 was $215,771.
Who are the executives of Bgm Inc and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Bgm Inc?
Bgm Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Bgm Inc
Bgm Inc, a non-profit organization, is dedicated to the mission of educational and community building, with a focus on low-income housing development. In essence, Bgm Inc strives to enhance communities by providing affordable housing and fostering educational opportunities. Through its programs, Bgm Inc works tirelessly to develop low-income housing, thereby addressing a vital need for marginalized individuals and families. The organization's mission is multifaceted, aiming not only to provide a roof over heads but also to contribute to the betterment of communities and the empowerment of its residents.
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Impact
June, 2024
Bgm Inc's impact is multifaceted and significant. Through their educational and community building initiatives, as well as their development of low-income housing, Bgm Inc has directly improved the lives of individuals in Greenville, SC. By focusing on providing low-income housing, Bgm Inc addresses a crucial need in the community, ensuring that individuals and families have access to safe and affordable housing options. Additionally, their educational programs contribute to empowering individuals and fostering a sense of community within Greenville. Overall, Bgm Inc's work not only improves the physical living conditions of many but also enhances the social fabric of the community, ultimately leading to positive outcomes for all involved.
This information is meant to be a general summary of Bgm 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 2022.
- Program Service Revenue: $182,425
- Gross Receipts: $215,771
Assets and Liabilities:
- Total Assets: $1,128,939
- Total Liabilities: $667,588
- Net Assets: $461,351
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTS
Revenue
$182,425
Organization Details
Founding Year
2006
Phone
(864) 984-2698Principal Officer
Frank Richardson
Main Address
427 BIRNIE ST, GREENVILLE, SC, 29611
NTEE Category
Code: F60 - Mental health
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