Overview
What is Camba Economic Development Corporation?
Camba Economic Development Corporation, located in Brooklyn, New York, serves as a vital resource for underprivileged businesses and aspiring entrepreneurs in the area. Their primary mission is to offer loans and essential services, aiming to foster economic growth within the community. This nonprofit organization is committed to uplifting local businesses and individuals who may not have access to traditional financing options, thereby contributing to the overall economic development of Brooklyn, NY.
Official website here: www.camba.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82%, Three-Star out of Four Stars
The Camba Economic Development Corporation has received an overall score of 82%, which reflects a solid level of accountability and financial management. The rating is based entirely on the Accountability & Finance beacon, indicating that the organization demonstrates strong transparency and stewardship of its resources. Key strengths include a fully independent board, adherence to conflict of interest policies, and a high program expense ratio of 77.59%, showcasing a commitment to its mission.
The organization has scored full points in areas such as board independence, material diversion of assets, and the availability of essential documents like meeting minutes and policies. This strong governance structure suggests a responsible approach to managing donations and executing programs effectively.
However, while the financial practices are commendable, there is notable compensation for key personnel, with the President/CEO earning $600,604. This figure may raise questions regarding salary equity within the organization and could be a consideration for potential donors. Overall, Camba Economic Development Corporation appears to be a well-managed organization with a focus on its economic development initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Camba Economic Development Corporation legitimate?
Camba Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Camba Economic Development Corporation 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: $0
For more financial information, click here
Official website here: www.camba.org
What is the mission statement of Camba Economic Development Corporation?
The Camba Economic Development Corporation is an organization committed to supporting under-served businesses and potential entrepreneurs. Their mission is to provide them with essential loans and services, thereby fostering growth and development within the business community. By extending financial assistance and necessary resources, the corporation aims to empower these businesses, helping them overcome obstacles and thrive. This organization plays a significant role in fostering economic growth and promoting entrepreneurship, particularly in the under-served sectors.
Official website here: www.camba.org
Who is the CEO of Camba Economic Development Corporation?
Joanne M Oplustil is the President of Camba Economic Development Corporation. The CEO's salary of Camba Economic Development Corporation is $0 and their total compensation is $644,551.
Official website here: www.camba.org
What is the revenue of Camba Economic Development Corporation?
Camba Economic Development Corporation's revenue in 2022 was $135,797.
Official website here: www.camba.org
Who are the executives of Camba Economic Development Corporation and what are their salaries?
Here are 6 key members and their salaries (Camba Economic Development Corporation's CEO's salary is $0 and their total compensation is $644,551):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $552,393
- Other: $92,158
- Compensation: $0
- Related: $395,303
- Other: $80,387
- Compensation: $0
- Related: $410,981
- Other: $70,340
Official website here: www.camba.org
Where can I find the form 990 for Camba Economic Development Corporation?
Camba Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.camba.org
Learn more at the official website: www.camba.org
Mission Statement of Camba Economic Development Corporation
Camba Economic Development Corporation (CAMBA EDC) is an organization that plays a crucial role in supporting underprivileged businesses and potential entrepreneurs in the Brooklyn, NY community. Its mission is geared towards providing essential financial resources and services to these underserved sectors, thereby fostering economic growth and development in the area. By offering loans and various services, CAMBA EDC seeks to empower individuals who may otherwise struggle to gain access to the necessary capital and resources required to launch and sustain successful businesses. Through its activities, CAMBA EDC is committed to uplifting the Brooklyn community, promoting entrepreneurship, and fostering a more vibrant and prosperous local economy.
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Impact
October, 2024
Camba Economic Development Corporation significantly influences the Brooklyn community by providing vital loans and services to under-served businesses and aspiring entrepreneurs. By targeting those with limited access to traditional financing, Camba EDC helps foster economic growth and community improvement. This support enables local businesses to thrive, generate jobs, and stimulate the economy.
Through tailored financial assistance and business resources, Camba EDC empowers individuals to turn their entrepreneurial dreams into reality. The organization not only enhances the economic landscape of Brooklyn but also contributes to the overall prosperity and resilience of the community, creating a ripple effect that benefits residents and businesses alike. By prioritizing service to those in need, Camba EDC plays a crucial role in promoting equitable economic development in the region.
This information is meant to be a general summary of Camba Economic Development Corporation. 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: $1,172
- Gross Receipts: $135,797
Assets and Liabilities:
- Total Assets: $245,829
- Total Liabilities: $176,335
- Net Assets: $69,494
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Organization Details
Founding Year
2000
Phone
(718) 287-2600Principal Officer
Joanne M Oplustil
Main Address
1720 CHURCH AVENUE, BROOKLYN, NY, 11226
Website
www.camba.orgNTEE Category
Code: S30 - Community improvement
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