Overview
What is The Ica Group Inc?
The Ica Group Inc, situated in Northampton, Massachusetts, is a nonprofit organization dedicated to community-based development. Their primary focus is on creating and preserving job opportunities within low-income communities. They achieve this by assisting at-risk businesses to avoid closures, promoting worker ownership as a means to enhance job quality, and helping low-income individuals accumulate wealth. The organization provides support to various not-for-profit corporations in cooperative development and collaborates with groups interested in forming cooperatives. The Ica Group Inc also engages in producing publications, conducting seminars and workshops, and offering in-house education and training for existing and future worker-owned and community-based businesses.
Official website here: www.ica-group.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92%, Four-Star out of Four Stars
The Ica Group Inc has achieved an impressive Four-Star rating from Charity Navigator, indicating strong performance in accountability and finance. The rating reflects a comprehensive assessment, primarily focusing on accountability metrics, which the organization excels in. Notably, 77% of the board members are independent, demonstrating a commitment to transparent governance practices.
The organization's financial health is underscored by a high program expense ratio of 90.81%, indicating that a significant portion of its resources is directed towards its mission-related activities. Additionally, there are no reported material diversions of assets, which reinforces the trustworthiness of its financial management. The presence of robust audit and oversight measures further enhances the organization's credibility.
However, while the organization performs well overall, its liabilities to assets ratio of 55.31% suggests a moderate level of financial leverage, which may warrant attention. Despite this, the comprehensive governance policies in place, including conflict of interest and whistleblower policies, provide additional reassurance of responsible leadership and ethical practices.
This AI summary has been generated from information found on Charity Navigator.
Is The Ica Group Inc legitimate?
The Ica Group Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Ica Group 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: $105,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $900,556
For more financial information, click here
Official website here: www.ica-group.org
What is the mission statement of The Ica Group Inc?
The Ica Group's mission is centered around supporting the growth of employee-owned and community-based businesses. Their primary objective is to create and preserve jobs through these ventures. By engaging in community-based development, they offer services that generate employment opportunities in low-income communities and help stabilize communities, preventing business closures. They also advocate for worker ownership as a means to enhance job quality and aid low-income individuals in building wealth. Additionally, The Ica Group offers assistance to various not-for-profit organizations, aiding in cooperative development, and works with groups interested in establishing cooperatives. They produce relevant publications, conduct seminars and workshops, and provide in-house education and training for existing and future worker-owned and community-based businesses.
Official website here: www.ica-group.org
What is the revenue of The Ica Group Inc?
The Ica Group Inc's revenue in 2023 was $1,973,126.
Official website here: www.ica-group.org
Who are the executives of The Ica Group Inc and what are their salaries?
The average compensation at The Ica Group Inc during 2023 was $55,864. There are 18 employees and 7 volunteers at The Ica Group Inc.
Here are 9 key members and their salaries:
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- Compensation: $57,267
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- Compensation: $102,894
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Official website here: www.ica-group.org
Where can I find the form 990 for The Ica Group Inc?
The Ica Group Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.ica-group.org
Learn more at the official website: www.ica-group.org
Mission Statement of The Ica Group Inc
The Ica Group Inc's mission is centered around supporting the growth of employee-owned and community-based businesses. Their primary objective is to foster job creation and preservation through this developmental process. By focusing on community-based development, The Ica Group provides services that generate employment opportunities in low-income communities and helps stabilize communities to prevent business closures. They advocate for worker ownership as a means to enhance job quality and enable low-income individuals to accumulate wealth.
In addition to this, The Ica Group offers assistance to various not-for-profit organizations, aiding them in cooperative development. They collaborate with groups interested in forming cooperatives and produce informative publications, conduct seminars, and workshops. Furthermore, they provide in-house education and training for existing and future worker-owned and community-based businesses. Their work is instrumental in improving the quality of jobs and empowering low-income individuals to build wealth.
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Impact
October, 2024
The ICA Group Inc significantly impacts low-income communities by facilitating the development of employee-owned and community-based businesses. Through their efforts, they create and preserve jobs, especially in areas facing economic challenges. By stabilizing communities and assisting businesses at risk of closure, they play a crucial role in averting plant closures and promoting sustainable economic growth.
Their focus on worker ownership enhances job quality, allowing individuals to accrue wealth through their meaningful participation in the businesses they help build. The ICA Group also provides vital support to nonprofit organizations involved in cooperative development, fostering a collaborative environment for community-focused initiatives.
Through workshops, seminars, and educational training, they equip existing and aspiring worker-owned businesses with the tools necessary for success, thereby uplifting communities and promoting economic resilience. Their commitment to community improvement is evident in the tangible benefits realized by individuals and families in the regions they serve.
This information is meant to be a general summary of The Ica Group 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: $20,459
- Program Service Revenue: $1,156,628
- Gross Receipts: $1,973,126
Assets and Liabilities:
- Total Assets: $987,983
- Total Liabilities: $591,021
- Net Assets: $396,962
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONSULTING FEES
Revenue
$1,129,008
ALTERNATIVE STAFF FEES
Revenue
$27,620
Organization Details
Founding Year
1978
Principal Officer
David Hammer
Website
www.ica-group.orgNTEE Category
Code: S43 - Community improvement
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