Overview
What is Suazo Business Center?
Suazo Business Center is a 501(c)(3) nonprofit organization, situated in Salt Lake City, Utah, dedicated to the economic empowerment of minority communities through entrepreneurship. Their mission is to break the cycle of poverty, eliminate generational wealth gaps, and foster self-reliance by supporting small business ownership. During the COVID-19 pandemic, they launched an online broadcast platform, "Up-to-Date with Suazo," to discuss pandemic-related topics and provide options for affected small businesses to thrive. They also established new partnerships with regional municipalities and strengthened existing relationships with partners. The Suazo Business Center serves as a small business and workforce development education resource, committed to the development and empowerment of underrepresented communities, such as the Latino/Hispanic community. With a workforce of 18 individuals, they aid existing and new minority entrepreneurs and small business owners in becoming self-reliant and building wealth.
Official website here: www.suazocenter.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Stars)
The Suazo Business Center has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. With a notable program expense ratio of 84.47%, the organization effectively allocates resources toward its mission-driven activities, demonstrating a commitment to transparency and efficiency. The board of directors is entirely independent, which enhances governance and oversight.
However, while the organization excels in several key areas, it does have some limitations. Notably, it lacks a whistleblower policy and has not posted its tax form on its website, which could be potential areas for improvement in transparency practices. Despite these shortcomings, the overall financial health and management of the organization are robust, underscoring its reliability as a nonprofit.
In summary, the Suazo Business Center stands out for its strong governance and responsible financial management, making it a trustworthy organization for potential donors and stakeholders. Enhancing its transparency through the addition of missing policies and documentation could further strengthen its reputation.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Suazo Business Center?
96% of 30 reviewers on Facebook recommend Suazo Business Center. Here is a summary of their reviews:
Many reviewers highlight the center’s dedication and professionalism in their teaching methods, noting that this passion truly sets them apart. The personal touch and commitment from the staff resonate positively with participants, contributing to a supportive learning environment.
Overall, the sentiment is overwhelmingly positive, with users appreciating the impactful services provided. Suazo Business Center appears to fulfill its mission effectively, helping individuals enhance their business skills and succeed.
This AI summary has been generated from reviews found on Facebook.
Is Suazo Business Center legitimate?
Suazo Business Center is a legitimate nonprofit organization registered as a 501(c)(3) entity. Suazo Business Center 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: $170,213
Professional Fundraising Fees: $59,000
Other Salaries and Wages: $411,059
For more financial information, click here
Official website here: www.suazocenter.org/
What is the mission statement of Suazo Business Center?
The Suazo Business Center, a 501(c)(3) nonprofit organization, is committed to the economic empowerment of the minority community. Their mission is to break the cycle of poverty and eliminate generational wealth gaps by promoting entrepreneurship. They aim to build self-reliance among minority entrepreneurs and small business owners, ultimately helping them accumulate wealth. As a small business and workforce development education resource, the Suazo Business Center is dedicated to fostering the growth and empowerment of underserved communities, including the Latino/Hispanic community. They provide support to both existing and new entrepreneurs, guiding them towards becoming self-sufficient business owners.
Official website here: www.suazocenter.org/
Who is the CEO of Suazo Business Center?
Silvia Castro is the Executive Di of Suazo Business Center.
Official website here: www.suazocenter.org/
What is the revenue of Suazo Business Center?
Suazo Business Center's revenue in 2022 was $1,289,713.
Official website here: www.suazocenter.org/
Who are the executives of Suazo Business Center and what are their salaries?
The average compensation at Suazo Business Center during 2022 was $32,293. There are 18 employees and 25 volunteers at Suazo Business Center.
Here are 20 key members and their salaries:
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Official website here: www.suazocenter.org/
Where can I find the form 990 for Suazo Business Center?
Suazo Business Center's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.suazocenter.org/
Learn more at the official website: www.suazocenter.org/
Mission Statement of Suazo Business Center
The Suazo Business Center is a 501(c)(3) nonprofit organization with a mission to focus on the economic empowerment of the minority community through entrepreneurship. Their primary goal is to break cycles of poverty, eliminate generational wealth gaps, and foster self-reliance by supporting existing and new minority entrepreneurs and small business owners in building wealth. As a small business and workforce development education resource, the Suazo Business Center is committed to the development and empowerment of the Latino/Hispanic, and other underserved, communities. They strive to assist these individuals in becoming self-sufficient and financially secure.
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Impact
July, 2024
Suazo Business Center's impact is significant in the community, particularly in the realm of economic empowerment for minority entrepreneurs. Through their dedicated efforts, they have been instrumental in breaking cycles of poverty, reducing generational wealth gaps, and fostering self-reliance among the Latino/Hispanic and other underserved communities. By providing small business and workforce development education resources, Suazo Business Center has enabled existing and new minority entrepreneurs to achieve self-reliance and build wealth. Their initiatives, such as the "Up-to-Date with Suazo" online broadcast platform, have been crucial in helping minority-owned small businesses not only survive but thrive, especially in the face of challenges like the COVID-19 pandemic. Through partnerships with regional municipalities and a shift to digital platforms, Suazo Business Center has demonstrated resilience and adaptability in supporting their clients to succeed in their entrepreneurial endeavors.
This information is meant to be a general summary of Suazo Business Center. 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: $30
- Program Service Revenue: $60,953
- Gross Receipts: $1,289,713
Assets and Liabilities:
- Total Assets: $1,347,138
- Total Liabilities: $73,249
- Net Assets: $1,273,889
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SEMINARS & WORKSHOPS
Revenue
$58,955
MICRO LOAN INTEREST AND FEES
Revenue
$1,998
Organization Details
Founding Year
2002
Phone
(801) 521-1709Principal Officer
Silvia Castro
Main Address
960 WEST 1700 SOUTH, SALT LAKE CITY, UT, 841042200
Website
www.suazocenter.org/NTEE Category
Code: P842 - Human services
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