Overview
What is Rising Tide Capital Inc And Subsidiaries?
Rising Tide Capital Inc. and its subsidiaries are a dedicated nonprofit organization based in Jersey City, New Jersey. Their mission is to empower economically marginalized communities by assisting entrepreneurs in building sustainable businesses. Through their signature programs, the Community Business Academy, Business Acceleration Services, and Credit to Capital, they offer holistic technical assistance, access to capital, and business management education. Their innovative model, which includes courses in English and Spanish tailored to diverse identities and education levels, has resulted in significant growth for entrepreneurs, with an average 75% increase in business revenue and 56% increase in household income within two years of graduation. In 2022, they served 1,718 entrepreneurs nationwide, contributing to the creation of 187 new jobs and strengthening 356 existing businesses. Rising Tide Capital licenses its proven model to partner organizations in various communities, aiming to expand its impact and support resilient entrepreneurs in building a thriving and sustainable economy for all.
Official website here: www.risingtidecapital.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100%, Four-Star out of Four Star rating
Rising Tide Capital Inc And Subsidiaries has achieved an impressive Four-Star rating from Charity Navigator, reflecting the organization's strong performance in accountability, finance, and impact measurement. The charity scored 100% in both its Accountability & Finance and Impact & Measurement categories, demonstrating exemplary practices in governance and financial management.
The organization boasts a high level of independence among its board members, with 88% being independent. This indicates a commitment to transparent and unbiased oversight. Additionally, Rising Tide Capital has shown effective financial health, with low liabilities relative to assets, a high program expense ratio, and efficient fundraising practices, which enhance its capacity to achieve its mission.
While the data highlights significant strengths, the feedback does not mention any specific limitations or challenges faced by Rising Tide Capital. Overall, the charity's strong ratings and demonstrated impact on beneficiaries underscore its effectiveness and credibility in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Rising Tide Capital Inc And Subsidiaries legitimate?
Rising Tide Capital Inc And Subsidiaries is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rising Tide Capital Inc And Subsidiaries 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: $947,038
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,195,925
For more financial information, click here
Official website here: www.risingtidecapital.org
What is the mission statement of Rising Tide Capital Inc And Subsidiaries?
Rising Tide Capital Inc. and its subsidiaries are committed to transforming lives and communities through entrepreneurship. Their mission is to assist entrepreneurs in economically marginalized communities in building sustainable businesses. The organization's vision is to foster inclusive communities of resilient entrepreneurs, contributing to a thriving and sustainable economy for all. They achieve this by providing holistic technical assistance, access to capital through partnerships, and business management education and coaching. Their signature programs, including the Community Business Academy, Business Acceleration Services, and Credit to Capital, cater to diverse identities and educational levels, offering classes in English and Spanish. Rising Tide Capital aims to expand its proven model and programs to serve more individuals and families who find entrepreneurship as a vital opportunity for resilience, growth, stability, and income generation.
Official website here: www.risingtidecapital.org
Who is the CEO of Rising Tide Capital Inc And Subsidiaries?
Alex Forrester is the Chairman of Rising Tide Capital Inc And Subsidiaries. The CEO's salary of Rising Tide Capital Inc And Subsidiaries is $250,000 and their total compensation is $271,400.
Official website here: www.risingtidecapital.org
What is the revenue of Rising Tide Capital Inc And Subsidiaries?
Rising Tide Capital Inc And Subsidiaries's revenue in 2022 was $8,164,515.
Official website here: www.risingtidecapital.org
Who are the executives of Rising Tide Capital Inc And Subsidiaries and what are their salaries?
The average compensation at Rising Tide Capital Inc And Subsidiaries during 2022 was $74,832. There are 42 employees and 97 volunteers at Rising Tide Capital Inc And Subsidiaries.
Here are 18 key members and their salaries (Rising Tide Capital Inc And Subsidiaries's CEO's salary is $250,000 and their total compensation is $271,400):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $250,000
- Related: $0
- Other: $21,400
- 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: $149,927
- Related: $0
- Other: $24,778
- Compensation: $229,352
- Related: $0
- Other: $27,716
- Compensation: $72,433
- Related: $0
- Other: $4,450
- Compensation: $160,586
- Related: $0
- Other: $6,396
- Compensation: $134,352
- Related: $0
- Other: $23,876
- Compensation: $114,272
- Related: $0
- Other: $21,997
- Compensation: $130,517
- Related: $0
- Other: $16,865
- Compensation: $136,879
- Related: $0
- Other: $14,891
- Compensation: $141,972
- Related: $0
- Other: $24,317
Official website here: www.risingtidecapital.org
Where can I find the form 990 for Rising Tide Capital Inc And Subsidiaries?
Rising Tide Capital Inc And Subsidiaries's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.risingtidecapital.org
Learn more at the official website: www.risingtidecapital.org
Mission Statement of Rising Tide Capital Inc And Subsidiaries
Rising Tide Capital Inc. is a non-profit organization with a mission to transform lives and communities by fostering entrepreneurship. They aim to assist entrepreneurs in economically marginalized communities, helping them build sustainable businesses. Their ultimate vision is to create inclusive communities filled with resilient entrepreneurs who contribute to a thriving and sustainable economy for all.
To achieve this mission, Rising Tide Capital offers various programs. The Community Business Academy (CBA) is a college-accredited course that equips entrepreneurs with essential business management skills. Classes are available in English and Spanish, catering to diverse identities and educational levels. Through Business Acceleration Services (BAS), subject matter experts prepare entrepreneurs for growth. The Credit to Capital (C2C) program provides entrepreneurs with access to financing from vetted Community Development Financial Institutions (CDFIs).
Rising Tide Capital's goal is to expand its proven model and programs to serve more economically challenged individuals and families. For them, entrepreneurship represents a significant opportunity for resilience, growth, stability, and income generation. The organization's ultimate aim is to foster strong communities where resilient entrepreneurs work together to create a thriving and sustainable economy for everyone.
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Impact
July, 2024
Rising Tide Capital Inc And Subsidiaries has a significant impact on empowering individuals in economically marginalized communities to build lasting businesses. By providing intensive business development services, technical assistance, access to capital, and business management education, Rising Tide Capital has enabled 28 new business starts, strengthened and stabilized 356 existing businesses, expanded 177 businesses, and created 187 new jobs in 2022. Additionally, their programs have led to an average 75% increase in business revenue and a 56% increase in household income for entrepreneurs within two years of graduating from their Community Business Academy.
Moreover, through their National Program Partnerships (NPP) program, Rising Tide Capital has supported 12 partner organizations in 2022, expanding their impact to serve a total of 1,718 entrepreneurs. By licensing their proven model to organizations nationwide, they are accelerating the development and impact of local entrepreneurship support hubs. Overall, Rising Tide Capital's work is contributing to building inclusive communities of resilient entrepreneurs that are driving a thriving and sustainable economy for all.
This information is meant to be a general summary of Rising Tide Capital Inc And Subsidiaries. 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: $19,431
- Program Service Revenue: $550,483
- Gross Receipts: $8,164,515
Assets and Liabilities:
- Total Assets: $14,713,399
- Total Liabilities: $3,975,433
- Net Assets: $10,737,966
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTRACT SERVICES
Revenue
$366,403
NATIONAL PROGRAM PARTN
Revenue
$72,893
LICENSING FEES
Revenue
$69,500
CBA AND BAS
Revenue
$41,687
Organization Details
Founding Year
2004
Phone
(201) 432-4316Principal Officer
Alex Forrester
Main Address
311 MARTIN LUTHER KING DRIVE, JERSEY CITY, NJ, 07305
Website
www.risingtidecapital.orgNTEE Category
Code: S41 - Community improvement
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