Overview
What is Midlands Latino Community Development Corporation?
The Midlands Latino Community Development Corporation (MLCDC) is a nonprofit organization situated in Omaha, Nebraska. Established in 2006, its primary mission is to empower low-income communities, particularly in the Midlands, by offering financial products, development services, and community development initiatives. This enables these communities to build a sustainable future. MLCDC provides various programs and services, including financial stability training in multiple languages such as Spanish, English, and Arabic. During 2022, they served 180 individuals across the Greater Omaha area, Council Bluffs, and East Nebraska, resulting in 150 hours of follow-up financial coaching. MLCDC also collaborates with the Mexican Consulate in Omaha, Nebraska, offering weekly presentations on personal finances. As a Community Economic Development Institution, MLCDC offers technical assistance and training through its financial stability, entrepreneurship, and lending programs. With a team of 9 employees, MLCDC continues to strive for economic growth and development within the Midlands community.
Official website here: www.midlandslatinocdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92%, Four-Star out of Four Star rating.
The Midlands Latino Community Development Corporation holds an impressive Four-Star rating from Charity Navigator, reflecting its high accountability and finance standards. With an overall score derived entirely from a single beacon score, the organization demonstrates strong fiscal health, evidenced by a low liabilities-to-assets ratio of 15.83% and a program expense ratio of 70.67%. This indicates that a significant portion of its expenditures directly supports its mission-focused programs.
The organization benefits from having a wholly independent board, with all eight members meeting the criteria for independence. Furthermore, its financial statements are audited, and there were no reported material diversions of assets, underscoring a commitment to transparency and good governance. Additionally, the charity adheres to solid practices by listing its website on its tax form and having a documented conflict of interest policy.
However, the charity does face a notable limitation: it lacks a whistleblower policy, which could be essential for ensuring accountability in the organization. While this does not overshadow its strong overall performance, it is an area for potential improvement. Overall, the Midlands Latino Community Development Corporation demonstrates a commitment to effective financial management and governance, making it a trustworthy choice for donors.
This AI summary has been generated from information found on Charity Navigator.
Is Midlands Latino Community Development Corporation legitimate?
Midlands Latino Community Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Midlands Latino Community 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: $96,311
Professional Fundraising Fees: $0
Other Salaries and Wages: $174,658
For more financial information, click here
Official website here: www.midlandslatinocdc.org
What is the mission statement of Midlands Latino Community Development Corporation?
The Midlands Latino Community Development Corporation, a non-profit organization, aims to support low-income communities in generating economic growth. They accomplish this by offering financing products, development services, and community development initiatives. These efforts help these communities develop a sustainable future. Additionally, the corporation provides technical assistance and training through its financial stability, entrepreneurship, and lending programs. As a community economic development institution, the Midlands Latino Community Development Corporation has been serving its community since 2006.
Official website here: www.midlandslatinocdc.org
Who is the CEO of Midlands Latino Community Development Corporation?
Amy Carolus is the Executive Director of Midlands Latino Community Development Corporation.
Official website here: www.midlandslatinocdc.org
What is the revenue of Midlands Latino Community Development Corporation?
Midlands Latino Community Development Corporation's revenue in 2022 was $525,791.
Official website here: www.midlandslatinocdc.org
Who are the executives of Midlands Latino Community Development Corporation and what are their salaries?
The average compensation at Midlands Latino Community Development Corporation during 2022 was $30,108. There are 9 employees and 45 volunteers at Midlands Latino Community Development Corporation.
Here are 8 key members and their salaries:
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Official website here: www.midlandslatinocdc.org
Where can I find the form 990 for Midlands Latino Community Development Corporation?
Midlands Latino Community Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.midlandslatinocdc.org
Learn more at the official website: www.midlandslatinocdc.org
Mission Statement of Midlands Latino Community Development Corporation
The Midlands Latino Community Development Corporation (MLCDC) is a non-profit organization that dedicates its efforts to empowering low-income communities in generating economic growth. Through its financing products, development services, and community development initiatives, MLCDC aims to enhance the capacity of these communities to establish a sustainable future. The corporation provides technical assistance and training programs, leveraging its financial stability, entrepreneurship, and lending programs, to contribute to community economic development. MLCDC has been serving its community since 2006 and operates as a Community Economic Development Institution.
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Impact
July, 2024
Midlands Latino Community Development Corporation has made a significant impact on low-income communities in the Midlands by providing financial education training and services to individuals in multiple languages including Spanish, English, and Arabic. In 2022 alone, they served 180 individuals in the greater Omaha area, Council Bluffs, and East Nebraska, offering classes that resulted in 150 hours of follow-up services through financial coaching. By collaborating with the Mexican Consulate in Omaha, Nebraska, MLCDC also delivered weekly presentations on personal finances, further enhancing their outreach and impact within the community. Through their efforts, MLCDC is helping individuals in low-income communities develop financial stability and create a sustainable future.
This information is meant to be a general summary of Midlands Latino Community 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.
- Program Service Revenue: $16,117
- Gross Receipts: $525,791
Assets and Liabilities:
- Total Assets: $1,341,477
- Total Liabilities: $212,391
- Net Assets: $1,129,086
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM REVENUE
Revenue
$16,117
Organization Details
Founding Year
2006
Phone
(402) 933-4466Principal Officer
Amy Carolus
Main Address
4923 SOUTH 24TH STREET 201, OMAHA, NE, 68107
Website
www.midlandslatinocdc.orgNTEE Category
Code: S31 - Community improvement
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