Overview
What is Build Commonwealth Inc?
Build Commonwealth Inc is a nonprofit organization dedicated to improving the financial stability and prospects of low-income individuals. By fostering innovation, testing solutions, and promoting scalable initiatives, this organization aims to revolutionize the financial sector and enhance the overall social and economic well-being of families. Build Commonwealth Inc envisions a financial system that fosters sustainable prosperity for all, working tirelessly to develop and implement effective financial products and policies.
Official website here: www.buildcommonwealth.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 4 Stars (97%)
Build Commonwealth Inc has received a commendable Four-Star out of Four Star rating from Charity Navigator, reflecting a robust commitment to accountability and financial health. The charity's overall score is a testament to its strong practices in financial management, with particular emphasis on transparency and governance. The organization showcases a high-level commitment to maintaining an independent board and adheres strictly to financial oversight, which enhances its operational integrity.
The nonprofit excels in various financial metrics, achieving impressive ratios in both program expenses and fundraising efficiency. With nearly 90% of its expenses directed towards its programs, the charity demonstrates its dedication to maximizing the impact of its contributions. Additionally, the organization maintains a strong ratio of liabilities to assets, indicating a sound financial footing and the ability to cover its obligations effectively.
While the data highlights significant strengths, it is essential to keep in mind that the score is solely based on the Accountability & Finance beacon. Therefore, users looking for a more holistic evaluation of program effectiveness or community impact may consider seeking additional insights beyond the financial metrics provided by Charity Navigator.
This AI summary has been generated from information found on Charity Navigator.
Is Build Commonwealth Inc legitimate?
Build Commonwealth Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Build Commonwealth 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: $229,373
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,177,525
For more financial information, click here
Official website here: www.buildcommonwealth.org
What is the mission statement of Build Commonwealth Inc?
Build Commonwealth Inc's mission statement is centered around enhancing the financial security and opportunities of low-income and moderately-income consumers. They achieve this by innovating, testing, and promoting new financial products and policies. The organization envisions a world where the financial system fosters lasting social and economic prosperity for all families. In essence, Commonwealth Inc. works towards strengthening the financial resilience of financially vulnerable individuals by conceiving and implementing innovative solutions, with the aim of scaling these solutions effectively.
Official website here: www.buildcommonwealth.org
Who is the CEO of Build Commonwealth Inc?
Timothy Flacke is the Director of Build Commonwealth Inc.
Official website here: www.buildcommonwealth.org
What is the revenue of Build Commonwealth Inc?
Build Commonwealth Inc's revenue in 2022 was $7,626,258.
Official website here: www.buildcommonwealth.org
Who are the executives of Build Commonwealth Inc and what are their salaries?
The average compensation at Build Commonwealth Inc during 2022 was $72,936. There are 33 employees and 9 volunteers at Build Commonwealth Inc.
Here are 14 key members and their salaries:
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- Compensation: $168,039
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- Other: $19,645
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- Compensation: $164,086
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- Other: $3,524
- Compensation: $134,947
- Related: $0
- Other: $19,085
- Compensation: $173,004
- Related: $0
- Other: $3,524
- Compensation: $105,500
- Related: $0
- Other: $12,296
Official website here: www.buildcommonwealth.org
Where can I find the form 990 for Build Commonwealth Inc?
Build Commonwealth Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.buildcommonwealth.org
Learn more at the official website: www.buildcommonwealth.org
Mission Statement of Build Commonwealth Inc
Build Commonwealth Inc, as a mission-driven organization, strives to enhance the financial prospects and security of low-income and moderate-income individuals. It achieves this by brainstorming innovative financial products and policies, testing these solutions, and scaling them up to reach a wider audience. The ultimate vision of Build Commonwealth Inc is a financial system that promotes enduring social and economic prosperity for all families. In essence, the organization serves to empower financially vulnerable people by identifying potential solutions, experimenting with them, and driving their successful implementation on a larger scale.
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Impact
July, 2024
Build Commonwealth Inc's impact lies in its efforts to strengthen the financial opportunity and security for low- and moderate-income consumers. By innovating, incubating, and stimulating new financial products and policies, Build Commonwealth Inc envisions a world where the financial system promotes lasting social and economic prosperity for every family. Through its work in discovering ideas, piloting solutions, and driving innovations to scale, Build Commonwealth Inc plays a significant role in improving the financial well-being of financially vulnerable individuals and communities.
This information is meant to be a general summary of Build Commonwealth 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: $7,470
- Program Service Revenue: $96,279
- Gross Receipts: $7,626,258
Assets and Liabilities:
- Total Assets: $7,488,336
- Total Liabilities: $177,551
- Net Assets: $7,310,785
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEV FINL SEC INITIATIV
Revenue
$96,279
Organization Details
Founding Year
2000
Phone
(617) 541-9066Principal Officer
Timothy Flacke
Main Address
22 Batterymarch Street 501, Boston, MA, 02109
Website
www.buildcommonwealth.orgNTEE Category
Code: W99 - Public benefit
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