Overview
What is Business Outreach Center Network Inc?
Business Outreach Center Network Inc is a nonprofit organization situated in Brooklyn, New York, at 85 South Oxford Street. Their primary mission is to economically empower individuals and create employment opportunities within low-income communities. They achieve this by offering various business services to underprivileged entrepreneurs. These services include assistance with contracts, financing, and capacity-building for organizations. The organization's aim is to enhance the economic prospects of traditionally underserved groups, including low- and moderate-income entrepreneurs, ultimately contributing to improved futures for these communities. With a workforce of 60 individuals, Business Outreach Center Network Inc actively strives to make a positive impact on these communities.
Official website here: www.bocnet.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
The Business Outreach Center Network Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial health. This rating is based entirely on a single beacon score, highlighting their excellent practices in financial management and governance, which are critical for nonprofit organizations in building trust with donors and stakeholders.
One of the standout features of the organization is its independent board structure, with 92% of board members being independent, which is a key indicator of effective governance. Additionally, the organization excels in its financial oversight with a notable program expense ratio of 83.55%, demonstrating that a significant portion of its expenses directly supports its programs and mission.
While the data is overwhelmingly positive, it is essential for potential donors and stakeholders to remain aware that the evaluation is based solely on financial metrics. Further insights into the organization's programmatic impact and community engagement efforts would provide a more comprehensive understanding of its overall effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Business Outreach Center Network Inc legitimate?
Business Outreach Center Network Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Business Outreach Center Network 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: $352,875
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,247,260
For more financial information, click here
Official website here: www.bocnet.org
What is the mission statement of Business Outreach Center Network Inc?
Business Outreach Center Network Inc's mission is centered around improving the economic prospects of traditionally underserved groups, with a strong focus on low- and moderate-income entrepreneurs and their communities. The organization strives to create more promising futures for these groups by providing a range of business services. This includes microenterprise and minority business development programs, which offer entrepreneurial support, access to contracts and financing, and capacity-building services to organizations. The ultimate goal is to economically empower individuals in low-income communities and create job opportunities.
Official website here: www.bocnet.org
Who is the CEO of Business Outreach Center Network Inc?
Nancy Carin is the Executive Dir. of Business Outreach Center Network Inc.
Official website here: www.bocnet.org
What is the revenue of Business Outreach Center Network Inc?
Business Outreach Center Network Inc's revenue in 2022 was $5,405,936.
Official website here: www.bocnet.org
Who are the executives of Business Outreach Center Network Inc and what are their salaries?
The average compensation at Business Outreach Center Network Inc during 2022 was $43,336. There are 60 employees and 15 volunteers at Business Outreach Center Network Inc.
Here are 20 key members and their salaries:
- Compensation: $230,750
- Related: $0
- Other: $31,429
- Compensation: $154,755
- Related: $0
- Other: $34,972
- Compensation: $168,475
- Related: $0
- Other: $19,614
- Compensation: $106,772
- Related: $0
- Other: $19,627
- Compensation: $107,836
- Related: $0
- Other: $15,710
- Compensation: $102,585
- Related: $0
- Other: $16,913
- Compensation: $92,678
- Related: $0
- Other: $15,193
- Compensation: $86,987
- Related: $0
- Other: $20,783
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
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- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.bocnet.org
Where can I find the form 990 for Business Outreach Center Network Inc?
Business Outreach Center Network Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bocnet.org
Learn more at the official website: www.bocnet.org
Mission Statement of Business Outreach Center Network Inc
Business Outreach Center Network, a nonprofit organization, is committed to economically empowering individuals and fostering job creation in low-income communities. Their mission is centered on enhancing the economic prospects of traditionally underserved groups, with a particular focus on low- and moderate-income entrepreneurs and their communities. By doing so, Business Outreach Center Network aims to create more promising futures for these communities.
To achieve this mission, the organization offers a variety of services. Their primary focus is on providing business services to under-served entrepreneurs. This includes offering access to contracts, financing, and capacity-building services to organizations. By offering these resources, Business Outreach Center Network empowers entrepreneurs to launch and grow their businesses, ultimately contributing to the economic development of low-income communities. The organization's mission is a testament to its commitment to uplifting underserved populations and fostering sustainable economic growth.
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Impact
July, 2024
Business Outreach Center Network Inc's impact lies in economically empowering individuals and creating job opportunities in low-income communities. Through its microenterprise and minority business development programs, the organization provides vital business services to underserved entrepreneurs. By offering access to contracts, financing, and capacity-building services to organizations, Business Outreach Center Network Inc plays a crucial role in fostering economic growth and sustainability in these communities. This ultimately leads to improved economic prospects for traditionally underserved groups, particularly low- and moderate-income entrepreneurs, creating genuinely brighter futures and contributing to overall community improvement.
This information is meant to be a general summary of Business Outreach Center Network 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.
- Program Service Revenue: $240,175
- Gross Receipts: $5,405,936
Assets and Liabilities:
- Total Assets: $4,372,318
- Total Liabilities: $1,374,485
- Net Assets: $2,997,833
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Loan Program Interest
Revenue
$1,836
Program Service
Revenue
$238,339
Organization Details
Founding Year
1996
Phone
(718) 624-9115Principal Officer
Nancy Carin
Main Address
85 SOUTH OXFORD STREET, BROOKLYN, NY, 11217
Website
www.bocnet.orgNTEE Category
Code: S41 - Community improvement
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