Overview
What is Inclusiv Inc?
Inclusiv Inc, based in New York City, is a dedicated nonprofit organization that supports financial independence for low- and moderate-income individuals and communities through credit unions. Their mission involves providing capital to member Credit Development Credit Unions (CDCUs) through uninsured subordinated debt loans and insured non-member deposits. With a team of 34 employees, Inclusiv aims to strengthen the financial capabilities of those they serve.
Official website here: www.inclusiv.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 82%, Three-Star out of Four Star rating.
Inclusiv Inc has received an overall score of 82%, indicating a solid level of accountability and financial management. The rating reflects a strong performance in various aspects, notably with 100% of its board members being independent, which enhances the organization’s governance structure. Additionally, the charity maintains high standards in financial oversight, with a complete absence of material asset diversion and a well-documented approach to policies relating to conflict of interest and whistleblowing.
The organization demonstrates efficiency in its operations, with a program expense ratio of 88.45%, suggesting that a significant portion of its funds is directed towards its mission rather than administrative costs. The working capital ratio of 3.92 years shows that Inclusiv Inc has a healthy financial cushion, allowing it to sustain operations and programs over the long term.
While the financial management appears robust, there is no mention of feedback from beneficiaries or the effectiveness of specific programs, which could provide a more comprehensive understanding of its impact. Overall, Inclusiv Inc showcases strong governance and financial health, making it a reliable option for potential donors looking to support nonprofit initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Inclusiv Inc legitimate?
Inclusiv Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Inclusiv 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: $904,570
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,240,610
For more financial information, click here
Official website here: www.inclusiv.org
What is the mission statement of Inclusiv Inc?
Inclusiv Inc is an organization dedicated to assisting low- and moderate-income individuals and communities in their journey toward financial independence. This is accomplished through the medium of credit unions. The mission of Inclusiv is to provide essential capital to member Community Development Credit Unions (CDCUs) via uninsured subordinated debt loans and insured non-member deposits. By doing so, Inclusiv empowers these credit unions to expand their reach and services, ultimately enabling more people to gain access to financial resources and opportunities. Through the provision of capital, Inclusiv contributes to the economic wellbeing and upward mobility of underserved communities.
Official website here: www.inclusiv.org
Who is the CEO of Inclusiv Inc?
Cathleen Mahon is the CEO of Inclusiv Inc The CEO's salary of Inclusiv Inc is $285,060 and their total compensation is $306,610.
Official website here: www.inclusiv.org
What is the revenue of Inclusiv Inc?
Inclusiv Inc's revenue in 2023 was $11,935,667.
Official website here: www.inclusiv.org
Who are the executives of Inclusiv Inc and what are their salaries?
The average compensation at Inclusiv Inc during 2023 was $106,287. There are 39 employees and 15 volunteers at Inclusiv Inc.
Here are 23 key members and their salaries (Inclusiv Inc's CEO's salary is $285,060 and their total compensation is $306,610):
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- Compensation: $285,060
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- Other: $21,550
- Compensation: $238,314
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- Compensation: $171,436
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- Compensation: $152,410
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- Compensation: $128,280
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- Other: $30,078
- Compensation: $143,837
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- Other: $28,131
- Compensation: $212,952
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- Other: $21,561
- Compensation: $178,502
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- Other: $2,376
Official website here: www.inclusiv.org
Where can I find the form 990 for Inclusiv Inc?
Inclusiv Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.inclusiv.org
Learn more at the official website: www.inclusiv.org
Mission Statement of Inclusiv Inc
Inclusiv Inc, a mission-driven organization, strives to help low- and moderate-income individuals and communities attain financial independence through the power of credit unions. This not-for-profit entity believes that credit unions can be a catalyst for positive change, enabling people to take control of their financial lives and build a better future.
Inclusiv's primary focus is on providing capital to member credit unions through uninsured subordinated debt loans and insured non-member deposits. This strategic approach empowers credit unions to expand their reach and services, particularly in underserved communities, ensuring that more people have access to essential financial products and services. By partnering with credit unions, Inclusiv is able to amplify its impact and make a real difference in the lives of those it aims to serve.
Inclusiv's work is crucial in bridging the financial gap for millions of people who may otherwise be left behind. By offering capital solutions to credit unions, Inclusiv enables them to offer loans, savings accounts, and other financial services to those who may not have had access to them before. This, in turn, helps individuals and families build a stronger financial foundation, ultimately leading to increased stability and independence.
In summary, Inclusiv Inc is a pioneering organization that is dedicated to empowering low- and moderate-income people and communities to achieve financial independence through credit unions. By providing capital to credit unions, Inclusiv is able to expand their reach and services, making essential financial products and services more accessible to those who need them most.
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Impact
October, 2024
Inclusiv Inc plays a pivotal role in fostering financial independence for low- and moderate-income individuals and communities through the empowerment of credit unions. By providing capital through uninsured subordinated debt loans and insured non-member deposits to member Community Development Credit Unions (CDCUs), Inclusiv enables these institutions to enhance their services and support their members more effectively. The organization's commitment to ensuring that underserved communities have access to essential financial resources helps break cycles of poverty and creates pathways to economic stability. This impact is particularly significant in urban and rural areas where traditional banking services may be limited, allowing credit unions to serve as vital financial lifelines.
This information is meant to be a general summary of Inclusiv 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: $14,597
- Program Service Revenue: $4,871,236
- Gross Receipts: $11,935,667
Assets and Liabilities:
- Total Assets: $97,622,121
- Total Liabilities: $67,675,316
- Net Assets: $29,946,805
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$2,898,339
MEMBERSHIP DUES AND SERVICES
Revenue
$892,472
MEETING AND CONFERENCE
Revenue
$812,354
CONTRACT SERVICESAND OTHER FEES
Revenue
$84,464
SIMPLICD DEPOSITS COMMISSION
Revenue
$36,107
Organization Details
Founding Year
1974
Principal Officer
Eben Sheaffer
Website
www.inclusiv.orgNTEE Category
Code: W020 - Public benefit
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