Overview
What is The Ida And Asset Building Collaborative Of North Carolina?
The Ida and Asset Building Collaborative of North Carolina is a collective effort comprising financial institutions, community-based organizations, and local governments. Their mission is to bridge the wealth gap in North Carolina, ensuring that all residents have the opportunity to achieve financial health. They advocate for financially vulnerable communities by collaborating with financial institutions, nonprofits, and local government agencies across the state. Through this collaboration, they educate individuals on building wealth, believing that everyone, regardless of their racial background, physical abilities, or financial circumstances, deserves an equal opportunity to amass wealth. They connect people to safe, affordable, and certified banking accounts and offer resources to empower individuals and families to improve their financial capability, health, and independence. The collaborative involves approximately 35 organizations in this endeavor.
Official website here: www.thecollaborativenc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90%, Four-Star out of Four Stars
The Ida and Asset Building Collaborative of North Carolina has received a strong rating of 90% from Charity Navigator, which reflects its commitment to accountability and finance. The organization achieved a perfect score in a number of areas, including having a majority of independent board members, no material diversion of assets, and well-documented governance policies, indicating robust operational integrity.
Strengths highlighted in the rating include a high program expense ratio of 70.67%, which suggests that a significant portion of its expenditures directly supports its mission. Furthermore, the organization demonstrates transparency by listing its website on tax forms and maintaining accessible board meeting minutes.
However, it is noted that the organization is missing a whistleblower policy, which may be a potential area for improvement. Overall, the Collaborative appears to be effectively managed with a focus on financial responsibility and organizational transparency.
This AI summary has been generated from information found on Charity Navigator.
Is The Ida And Asset Building Collaborative Of North Carolina legitimate?
The Ida And Asset Building Collaborative Of North Carolina is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Ida And Asset Building Collaborative Of North Carolina 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: $94,168
Professional Fundraising Fees: $0
Other Salaries and Wages: $7,688
For more financial information, click here
Official website here: www.thecollaborativenc.org
What is the mission statement of The Ida And Asset Building Collaborative Of North Carolina?
The Ida and Asset Building Collaborative of North Carolina aims to bridge the wealth gap in the state. They accomplish this by advocating for financially vulnerable communities and collaborating with financial institutions, nonprofits, and local government agencies. Their goal is to educate individuals, regardless of their skin color, physical abilities, or financial circumstances, on the importance of wealth building and ensuring everyone has an equal opportunity to accumulate wealth.
Official website here: www.thecollaborativenc.org
Who is the CEO of The Ida And Asset Building Collaborative Of North Carolina?
Marquita Robertson is the Board Chair of The Ida And Asset Building Collaborative Of North Carolina.
Official website here: www.thecollaborativenc.org
What is the revenue of The Ida And Asset Building Collaborative Of North Carolina?
The Ida And Asset Building Collaborative Of North Carolina's revenue in 2022 was $176,505.
Official website here: www.thecollaborativenc.org
Who are the executives of The Ida And Asset Building Collaborative Of North Carolina and what are their salaries?
The average compensation at The Ida And Asset Building Collaborative Of North Carolina during 2022 was $101,856. There is 1 employee and 40 volunteers at The Ida And Asset Building Collaborative Of North Carolina.
Here are 8 key members and their salaries:
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- Compensation: $90,264
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- Other: $3,904
Official website here: www.thecollaborativenc.org
Where can I find the form 990 for The Ida And Asset Building Collaborative Of North Carolina?
The Ida And Asset Building Collaborative Of North Carolina's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.thecollaborativenc.org
Learn more at the official website: www.thecollaborativenc.org
Mission Statement of The Ida And Asset Building Collaborative Of North Carolina
The Ida and Asset Building Collaborative of North Carolina is committed to bridging the wealth gap within the state. This nonprofit organization advocates on behalf of financially vulnerable communities by collaborating with financial institutions, nonprofits, and local government agencies across North Carolina. Their mission is to educate individuals, regardless of their skin color, physical abilities, or financial circumstances, about the importance of wealth building and ensuring they have an equal opportunity to do so. The collaborative believes in the power of collective action and partnerships to drive change and promote financial inclusion, ultimately striving for a more equitable society in North Carolina.
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Impact
October, 2024
The Ida and Asset Building Collaborative of North Carolina significantly impacts the state by actively working to close the wealth gap among its residents. By advocating for financially vulnerable communities, the organization collaborates with financial institutions, community organizations, and local government agencies to provide crucial educational resources on wealth building. This initiative ensures that residents, regardless of their background or financial circumstances, have access to safe and affordable banking options.
Through efforts like Bank On North Carolina, the Collaborative connects individuals and families to certified banking products and empowers them with knowledge and tools to enhance their financial health and independence. Collectively, these initiatives involve around 35 organizations, creating a robust network aimed at fostering financial capability and securing equal opportunities for wealth development across North Carolina. Ultimately, the Collaborative's work not only strengthens individual financial well-being but also contributes to the broader economic stability of communities throughout the state.
This information is meant to be a general summary of The Ida And Asset Building Collaborative Of North Carolina. 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: $236
- Gross Receipts: $176,505
Assets and Liabilities:
- Total Assets: $263,220
- Total Liabilities: $36,031
- Net Assets: $227,189
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Organization Details
Founding Year
2002
Phone
(919) 283-8922Principal Officer
Marquita Robertson
Main Address
PO BOX 27386, RALEIGH, NC, 276117386
Website
www.thecollaborativenc.orgNTEE Category
Code: P11 - Human services
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