Overview
What is Small Business Majority Foundation Inc?
Small Business Majority Foundation Inc is a nonprofit organization, known as Small Business Majority, based in Washington D.C., with additional offices in several states. Their primary mission is to support and advocate for the 28 million small businesses in the U.S. through public policy and practical resources. They focus on serving underrepresented small business owners, including women, people of color, immigrants, and those in rural areas. Their activities include conducting outreach, providing educational programs, and resources on topics like responsible capital access, healthcare, and leveling the playing field. Small Business Majority also offers opportunities for small business owners to engage in policy changes that benefit entrepreneurship. With a network of 85,000 small business owners and over 1,500 business organizations, they strive to ensure a thriving, inclusive economy. Their operations are guided by small business councils at both the national and state levels.
Official website here: www.smallbusinessmajority.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Stars)
The Small Business Majority Foundation Inc has received a Three-Star rating from Charity Navigator, indicating a good level of accountability and finance management with an overall score of 80%. This score reflects that the organization places a strong emphasis on maintaining financial integrity and transparency, which is critical for building trust with donors and stakeholders.
One of the notable strengths of the organization includes having a fully independent board, scoring the maximum points in that area, along with strong performance in audit oversight and conflict of interest policies. Furthermore, the foundation excels in managing program and fundraising expenses, ensuring that a significant portion of its funding is directed towards its mission.
However, the organization did receive a score of zero in the independent board size category, suggesting potential areas for improvement in governance structure. While the accountability measures are robust, expanding the board may further enhance the organization's oversight capabilities and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Small Business Majority Foundation Inc legitimate?
Small Business Majority Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Small Business Majority Foundation 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: $482,013
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,697,841
For more financial information, click here
Official website here: www.smallbusinessmajority.org
What is the mission statement of Small Business Majority Foundation Inc?
Small Business Majority Foundation Inc's mission is centered around supporting the nation's 28 million small businesses. They achieve this through advocacy for favorable public policies and providing practical resources. Established by small business owners, the organization aims to ensure that small enterprises are integral to a prosperous, inclusive economy. They actively engage small business owners nationwide, particularly those facing systemic barriers, to shape policy and provide resources. Their educational programs and resources equip entrepreneurs to start and grow their businesses, focusing on topics like access to capital, healthcare, and a level playing field. Small Business Majority Foundation Inc also offers opportunities for small business owners to advocate for policy changes that foster entrepreneurship. With a network of 85,000 small business owners and over 1,500 business organizations, their work is guided by small business councils.
Official website here: www.smallbusinessmajority.org
Who is the CEO of Small Business Majority Foundation Inc?
John Arensmeyer is the Founder & Ceo of Small Business Majority Foundation Inc. The CEO's salary of Small Business Majority Foundation Inc is $309,714 and their total compensation is $323,469.
Official website here: www.smallbusinessmajority.org
What is the revenue of Small Business Majority Foundation Inc?
Small Business Majority Foundation Inc's revenue in 2022 was $4,849,945.
Official website here: www.smallbusinessmajority.org
Who are the executives of Small Business Majority Foundation Inc and what are their salaries?
The average compensation at Small Business Majority Foundation Inc during 2022 was $88,329. There are 36 employees and 4 volunteers at Small Business Majority Foundation Inc.
Here are 11 key members and their salaries (Small Business Majority Foundation Inc's CEO's salary is $309,714 and their total compensation is $323,469):
- Compensation: $309,714
- Related: $0
- Other: $13,755
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $151,317
- Related: $0
- Other: $6,823
- Compensation: $188,530
- Related: $0
- Other: $31,820
- Compensation: $174,398
- Related: $0
- Other: $8,411
- Compensation: $141,498
- Related: $0
- Other: $29,814
- Compensation: $122,243
- Related: $0
- Other: $16,723
- Compensation: $142,780
- Related: $0
- Other: $24,720
Official website here: www.smallbusinessmajority.org
Where can I find the form 990 for Small Business Majority Foundation Inc?
Small Business Majority Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.smallbusinessmajority.org
Learn more at the official website: www.smallbusinessmajority.org
Mission Statement of Small Business Majority Foundation Inc
Small Business Majority Foundation, a national advocacy organization, was established by small business owners with a vision to ensure that these enterprises are at the forefront of a prosperous, inclusive economy. This nonprofit actively engages small business owners across the nation to influence policy decisions that favor entrepreneurs and provide them with the necessary resources to flourish.
The organization's mission is multifaceted. It conducts outreach from various offices located in Washington D.C., California, Colorado, Georgia, Illinois, and New Mexico, with a focus on serving underrepresented small business owners. These groups often face systemic barriers, including women, people of color, immigrants, and those operating in rural areas. Small Business Majority Foundation offers a range of educational programs and resources to empower these entrepreneurs, helping them to start, grow, and maximize their economic prosperity. Topics covered include access to responsible capital, healthcare, and other essential benefits, as well as creating a level playing field.
In addition to offering educational resources, Small Business Majority Foundation provides its network of 85,000 small business owners and over 1,500 business organizations with opportunities to advocate for policy changes that support entrepreneurship. The organization's work is guided by a national and state small business councils, comprised of active small business owners, who contribute their perspectives and experiences to shape the organization's advocacy efforts.
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Impact
July, 2024
Small Business Majority Foundation Inc is making a significant impact by supporting America's 28 million small businesses through public policy advocacy and practical resources. Their outreach, education, and advocacy efforts are focused on serving the needs of small business owners who face systemic barriers, including women, people of color, immigrants, and those operating in rural areas. By providing educational programs and resources, they empower entrepreneurs to start and grow their enterprises, maximize economic prosperity, and access responsible capital, healthcare, and other essential benefits. Additionally, they offer small business owners opportunities to advocate for public policy changes that advance entrepreneurship.
With a network of 85,000 small business owners and over 1,500 business organizations, Small Business Majority Foundation Inc's work is guided by national and state small business councils comprised of active small business owners. By actively engaging small business owners across America, they drive smart public policy and ensure that entrepreneurs have the resources they need to thrive. Their mission is to ensure that small businesses are at the heart of a thriving, inclusive economy, ultimately contributing to community improvement.
This information is meant to be a general summary of Small Business Majority Foundation 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.
- Investment Income: $669
- Gross Receipts: $4,850,425
Assets and Liabilities:
- Total Assets: $7,051,488
- Total Liabilities: $4,961,916
- Net Assets: $2,089,572
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Organization Details
Founding Year
2005
Phone
(202) 828-8357Principal Officer
John Arensmeyer
Main Address
1015 15th Street NW 450, Washington, DC, 20005
NTEE Category
Code: S43 - Community improvement
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