Overview
What is Harlem Business Alliance Inc?
Harlem Business Alliance Inc, located in New York City, is a nonprofit organization dedicated to empowering small growth potential entrepreneurs, particularly Black-owned businesses. Through a collaborative effort with TDX Construction Corporation and the NYC Metropolitan Transportation Authority's Small Business Development Program (SBDP), Harlem Business Alliance offers hands-on assistance, business management support, and intensive technical assistance. Their mission involves facilitating business creation, sustainability, and growth in New York City, utilizing culturally competent methods and innovative business education workshops. The organization has assisted over 50 businesses that have subsequently secured contracts, with a team of 10 dedicated employees.
Official website here: www.hbany.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Harlem Business Alliance Inc has achieved an impressive 96% rating from Charity Navigator, indicating a strong level of accountability and financial health. This rating, which reflects the organization's commitment to transparency and responsible management, is based entirely on its performance in the Accountability & Finance category. A Four-Star rating signifies that the organization is efficient with its resources and adheres to high standards in governance.
The nonprofit demonstrates exceptional strength in several key areas, including having a fully independent board and maintaining a high program expense ratio of 79.23%. This suggests that a significant portion of their funding is directed towards their mission-related activities, which is a positive indicator of their effectiveness. Additionally, the organization has robust financial oversight mechanisms in place, as evidenced by their perfect scores in several accountability metrics.
No significant limitations were noted in the data provided, which reinforces the organization's strong standing. The presence of comprehensive policies and practices, such as a conflict of interest policy and documented board meeting minutes, further highlights their commitment to good governance and ethical operations. Overall, Harlem Business Alliance Inc appears to be a well-managed nonprofit with a clear focus on serving its community effectively.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Harlem Business Alliance Inc?
96% of 16 reviewers on Facebook recommend Harlem Business Alliance Inc. Here is a summary of their reviews:
The overall sentiment is notably positive, with users expressing gratitude and appreciation for the nonprofit's initiatives. One review highlights that the organization is "really making a difference," suggesting that its efforts resonate well within the community.
Supporters mention a strong sense of satisfaction with the services provided, indicating that Harlem Business Alliance Inc. effectively fulfills its mission and addresses the needs of those it serves. This level of endorsement underscores the nonprofit's positive impact within its community.
This AI summary has been generated from reviews found on Facebook.
Is Harlem Business Alliance Inc legitimate?
Harlem Business Alliance Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Harlem Business Alliance 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: $120,628
Professional Fundraising Fees: $0
Other Salaries and Wages: $141,893
For more financial information, click here
Official website here: www.hbany.org
What is the mission statement of Harlem Business Alliance Inc?
The Harlem Business Alliance Inc's mission is centered around supporting the development, stability, and expansion of businesses, with a particular focus on those owned by Black individuals. They accomplish this by offering intensive, culturally sensitive technical assistance, innovative business education workshops, and maintaining a business support center. The organization's objective is to empower these entrepreneurs, providing them with the necessary tools to succeed and grow their businesses. In collaboration with TDX Construction Corporation and the NYC Metropolitan Transportation Authority's Small Business Development Program, HBA provides hands-on assistance to minority and women-owned firms with a strong vision and ambition, ultimately helping over 50 of these businesses secure contracts.
Official website here: www.hbany.org
Who is the CEO of Harlem Business Alliance Inc?
Regina Smith is the Executive Director of Harlem Business Alliance Inc.
Official website here: www.hbany.org
What is the revenue of Harlem Business Alliance Inc?
Harlem Business Alliance Inc's revenue in 2022 was $653,673.
Official website here: www.hbany.org
Who are the executives of Harlem Business Alliance Inc and what are their salaries?
The average compensation at Harlem Business Alliance Inc during 2022 was $26,252. There are 10 employees at Harlem Business Alliance Inc.
Here are 10 key members and their salaries:
- Compensation: $91,100
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- Other: $0
- Compensation: $29,528
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
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- 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
- Compensation: $0
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- Other: $0
Official website here: www.hbany.org
Where can I find the form 990 for Harlem Business Alliance Inc?
Harlem Business Alliance Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hbany.org
Learn more at the official website: www.hbany.org
Mission Statement of Harlem Business Alliance Inc
Harlem Business Alliance Inc, a nonprofit organization, is dedicated to facilitating the creation, sustainability, and growth of businesses, with a particular focus on Black-owned enterprises. They achieve this mission by offering intensive, culturally competent technical assistance and innovative business education workshops. Additionally, Harlem Business Alliance Inc provides a business support center to provide hands-on assistance to small growth potential entrepreneurs. The organization works with minority and women-owned firms that have the ambition to succeed and the need for support, using a training while doing approach. Through their efforts, they have assisted over 50 businesses that have since been awarded contracts.
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Impact
July, 2024
Harlem Business Alliance Inc's impact can be seen in the significant support and resources it provides to Black-owned businesses in New York City. Through its intensive technical assistance programs, innovative business education workshops, and business support center, HBA has empowered over 50 businesses to succeed and secure contracts. By focusing on the creation, sustainability, and growth of NYC businesses, particularly those owned by Black entrepreneurs, HBA is making a tangible difference in the community and contributing to the economic empowerment of underrepresented groups.
This information is meant to be a general summary of Harlem Business Alliance 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.
- Investment Income: $424
- Program Service Revenue: $2,626
- Gross Receipts: $653,673
Assets and Liabilities:
- Total Assets: $757,221
- Total Liabilities: $294,144
- Net Assets: $463,077
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CREATIVE WORKSPACE
Revenue
$2,626
Organization Details
Founding Year
1990
Principal Officer
Regina Smith
Main Address
275 LENOX AVENUE STE 2ND FL, NEW YORK, NY, 10027
Website
www.hbany.orgNTEE Category
Code: S20Z - Community improvement
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