Overview
What is Business Resource And Investment Service Center Inc?
Business Resource and Investment Service Center Inc, situated in New York City, is a nonprofit organization that aims to assist eligible businesses situated within the Upper Manhattan Empowerment Zone. Their primary mission is to offer financial aid to these businesses in the form of loans and business advisory services. This assistance is designed to support and strengthen the growth of these businesses within the specified area.
Official website here: www.umez.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
Business Resource And Investment Service Center Inc has received an impressive Four-Star rating from Charity Navigator, reflecting strong accountability and financial health. The organization's score of 96% indicates excellent management practices and financial oversight, showcasing its commitment to transparency and effective use of resources.
One of the organization's notable strengths includes a fully independent board, with 100% of its members meeting governance standards. Additionally, it excels in audit and oversight practices, evidenced by a complete score in its audit committee evaluation. With a program expense ratio of 92.13%, the center demonstrates a robust focus on its mission, ensuring that the vast majority of its funds are directed towards programming rather than administrative costs.
While the overview does not indicate any specific limitations or areas of concern, the high scores across various accountability metrics suggest that the organization is well-positioned to continue its operations effectively. Overall, the ratings point to a nonprofit that is both reliable and committed to its goals, making it a trustworthy choice for potential supporters and donors.
This AI summary has been generated from information found on Charity Navigator.
Is Business Resource And Investment Service Center Inc legitimate?
Business Resource And Investment Service Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Business Resource And Investment Service Center 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.umez.org
What is the mission statement of Business Resource And Investment Service Center Inc?
The Business Resource and Investment Service Center Inc's mission is to extend financial aid to eligible businesses. Specifically, they provide loans and business advisory services to eligible businesses situated in an empowerment zone, located in Upper Manhattan. Their goal is to empower these businesses by offering them the necessary financial support to grow and thrive. The center aims to contribute to the economic development of the community by fostering business growth and success. They may also offer additional resources or guidance to help these businesses navigate the challenges they face.
Official website here: www.umez.org
What is the revenue of Business Resource And Investment Service Center Inc?
Business Resource And Investment Service Center Inc's revenue in 2024 was $50,081.
Official website here: www.umez.org
Who are the executives of Business Resource And Investment Service Center Inc and what are their salaries?
There 9 volunteers at Business Resource And Investment Service Center Inc.
Here are 14 key members and their salaries:
- Compensation: $0
- Related: $302,639
- Other: $134,848
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- Related: $185,510
- Other: $14,871
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- Other: $0
- Compensation: $0
- Related: $152,677
- Other: $37,496
Official website here: www.umez.org
Where can I find the form 990 for Business Resource And Investment Service Center Inc?
Business Resource And Investment Service Center Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.umez.org
Learn more at the official website: www.umez.org
Mission Statement of Business Resource And Investment Service Center Inc
Business Resource and Investment Service Center Inc is dedicated to providing financial aid to eligible businesses situated in Upper Manhattan. Their primary mission is to extend financial assistance to these businesses in the form of loans and business advisory services. This nonprofit organization aims to empower these businesses by offering them the necessary financial support, thereby contributing to the economic growth and development of the business community in Upper Manhattan.
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Impact
October, 2024
Business Resource and Investment Service Center Inc significantly contributes to the economic development of Upper Manhattan by providing essential financial assistance to eligible businesses in the area. Through its targeted support in the form of loans and business advisory services, the center empowers local entrepreneurs, enabling them to grow and sustain their operations. This vital assistance fosters job creation, stimulates economic activity, and enhances community improvement within the Upper Manhattan Empowerment Zone. By focusing on businesses in this underserved area, the organization plays a crucial role in revitalizing the local economy and promoting economic equity.
This information is meant to be a general summary of Business Resource And Investment Service Center 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 2024.
- Investment Income: $8,178
- Program Service Revenue: $35,801
- Gross Receipts: $50,081
Assets and Liabilities:
- Total Assets: $4,946,287
- Total Liabilities: $2,334,157
- Net Assets: $2,612,130
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$35,801
Organization Details
Founding Year
1995
Principal Officer
Blair M Duncan
Website
www.umez.orgNTEE Category
Code: S20Z - Community improvement
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