Overview
What is Long Island Small Business Assistance Corp?
Long Island Small Business Assistance Corp (LISBAC) is a certified community development institution and entity based in Hauppauge, New York. Their primary mission is to aid small businesses in the Long Island region, particularly those that are unbanked, underbanked, or socially and economically disadvantaged. LISBAC offers financial literacy programs, procurement support, and technical assistance services to help businesses establish credit, grow, and access capital. They also deliver low-cost micro-loans and resources for private and public sector procurement to enhance business capacity. As a Community Development Financial Institution (CDFI), LISBAC serves a vital role in fostering economic growth and opportunity within the Long Island community, employing a single individual.
Official website here: www.lisbac.org
Is Long Island Small Business Assistance Corp legitimate?
Long Island Small Business Assistance Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Long Island Small Business Assistance Corp 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $34,500
For more financial information, click here
Official website here: www.lisbac.org
What is the mission statement of Long Island Small Business Assistance Corp?
The Long Island Small Business Assistance Corp, recognized as a Community Development Institution (CDFI) and a Community Development Entity (CDE), serves the unbanked, underbanked, and socially economically disadvantaged business entities in the Long Island region. Its mission is to provide low-cost micro-loans, small business technical assistance, and private/public sector procurement resources, all aimed at boosting business growth, enhancing capacity, and increasing access to capital for underserved markets. Apart from financing, the corporation delivers innovative financial literacy programs, assists with business registrations and certifications, and offers technical assistance services to the Long Island business market.
Official website here: www.lisbac.org
Who is the CEO of Long Island Small Business Assistance Corp?
Gina Slater Parker is the Ceo/President of Long Island Small Business Assistance Corp. The CEO's salary of Long Island Small Business Assistance Corp is $34,500 and their total compensation is $34,500.
Official website here: www.lisbac.org
What is the revenue of Long Island Small Business Assistance Corp?
Long Island Small Business Assistance Corp's revenue in 2022 was $14,409.
Official website here: www.lisbac.org
Who are the executives of Long Island Small Business Assistance Corp and what are their salaries?
The average compensation at Long Island Small Business Assistance Corp during 2022 was $34,500. There is 1 employee and 16 volunteers at Long Island Small Business Assistance Corp.
Here are 8 key members and their salaries (Long Island Small Business Assistance Corp's CEO's salary is $34,500 and their total compensation is $34,500):
- Compensation: $34,500
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Official website here: www.lisbac.org
Where can I find the form 990 for Long Island Small Business Assistance Corp?
Long Island Small Business Assistance Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lisbac.org
Learn more at the official website: www.lisbac.org
Mission Statement of Long Island Small Business Assistance Corp
Long Island Small Business Assistance Corp, a certified Community Development Institution (CDFI) and Community Development Entity (CDE), is dedicated to identifying and serving the unbanked, underbanked, and socially economically disadvantaged individual (SEDI) business entities in the Long Island region. The organization's mission is multifaceted, encompassing financial literacy, procurement support, business registrations/certifications, and technical assistance services for the local business market.
By providing low-cost micro-loans, Small Business Technical Assistance, and private/public sector procurement resources, LISBAC aims to boost business growth, capacity, and access to capital in underserved markets. One of their notable programs is the Business Credit Improvement Program (BCIP), which assists small businesses in establishing credit and increasing their borrowing potential. This program is a lending initiative that empowers small businesses, enabling them to secure financing and expand their operations. In essence, Long Island Small Business Assistance Corp plays a vital role in fostering business development and financial stability within its service area.
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Impact
August, 2024
Long Island Small Business Assistance Corp's impact is significant in providing low-cost micro-loans, small business technical assistance, and private/public sector procurement resources that aid in increasing business growth, capacity, and access to capital for underserved markets in the Long Island region. The organization's Business Credit Improvement Program (BCIP) helps small businesses establish business credit and increases their borrowing potential, contributing to the overall economic development and empowerment of socially and economically disadvantaged individuals and business entities in the community.
This information is meant to be a general summary of Long Island Small Business Assistance Corp. 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: $11
- Program Service Revenue: $4,398
- Gross Receipts: $14,409
Assets and Liabilities:
- Total Assets: $293,540
- Total Liabilities: $6,885
- Net Assets: $286,655
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST INCOME
Revenue
$2,802
APPLICATION & COMMITME
Revenue
$1,596
Organization Details
Founding Year
1998
Phone
(516) 433-5000Principal Officer
Gina Slater Parker
Main Address
175 ENGINEERS ROAD 200, HAUPPAUGE, NY, 11788
Website
www.lisbac.orgNTEE Category
Code: S40 - Community improvement
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