Overview
What is Amplify Equity Inc?
Amplify Equity Inc is a nonprofit organization situated in Elmira, New York. Their primary mission is to provide resources, guidance, and pathways to affordable and non-predatory lending products, primarily focusing on underserved low-wealth and BIPOC communities. They achieve this through small business development, education, and access to affordable capital. In 2022, they processed 1,535 tax returns as part of their VITA tax preparation program in collaboration with the IRS. The organization currently has a team of 5 individuals working towards their goals.
Official website here: www.amplifyequity.com
Is Amplify Equity Inc legitimate?
Amplify Equity Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Amplify Equity 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: $50,538
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Official website here: www.amplifyequity.com
What is the mission statement of Amplify Equity Inc?
Amplify Equity Inc is dedicated to providing resources, guidance, and pathways to affordable and non-predatory lending products. Their mission is to target low-income and underrepresented communities, specifically Black, Indigenous, and People of Color (BIPOC), who have historically been underserved by the mainstream financial industry. They achieve this through small business development, education, and access to affordable capital. By doing so, Amplify Equity Inc aims to bridge the gap in financial services, promoting economic equity and empowerment for these communities.
Official website here: www.amplifyequity.com
Who is the CEO of Amplify Equity Inc?
Richard Furnas is the Treasurer/Secretary of Amplify Equity Inc.
Official website here: www.amplifyequity.com
What is the revenue of Amplify Equity Inc?
Amplify Equity Inc's revenue in 2022 was $324,832.
Official website here: www.amplifyequity.com
Who are the executives of Amplify Equity Inc and what are their salaries?
The average compensation at Amplify Equity Inc during 2022 was $10,108. There are 5 employees and 30 volunteers at Amplify Equity Inc.
Here are 6 key members and their salaries:
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- Compensation: $37,604
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Official website here: www.amplifyequity.com
Where can I find the form 990 for Amplify Equity Inc?
Amplify Equity Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.amplifyequity.com
Learn more at the official website: www.amplifyequity.com
Mission Statement of Amplify Equity Inc
Amplify Equity Inc is dedicated to providing resources, guidance, and pathways to affordable and non-predatory lending products for underserved communities. Specifically, the organization aims to reach low-income and Black, Indigenous, and People of Color (BIPOC) communities who have historically been overlooked by the mainstream financial industry. To achieve this mission, Amplify Equity Inc focuses on small business development, education, and access to affordable capital. By doing so, the nonprofit strives to level the playing field and empower these communities to thrive economically.
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Impact
October, 2024
Amplify Equity Inc effectively bridges the gap for low-wealth and BIPOC communities in accessing essential financial resources. By providing guidance and pathways to affordable, non-predatory lending products, the organization enhances small business development and education. Their impact is evident through initiatives like the VITA tax preparation program, where they processed 1,535 tax returns in 2022, offering vital financial support and services.
The organization focuses on empowering underserved populations that have historically faced challenges within the mainstream financial system. By facilitating access to affordable capital and support, Amplify Equity Inc is fostering economic resilience and growth in Elmira, NY, and beyond. Their work not only aids individual and community financial stability but also contributes to broader community improvement by enabling greater financial equity.
This information is meant to be a general summary of Amplify Equity 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: $2,170
- Gross Receipts: $324,832
Assets and Liabilities:
- Total Assets: $397,154
- Total Liabilities: $301,946
- Net Assets: $95,208
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Organization Details
Founding Year
1999
Phone
(607) 216-8682Principal Officer
Richard Furnas
Main Address
168 N MAIN STREET, ELMIRA, NY, 14901
Website
www.amplifyequity.comNTEE Category
Code: S30 - Community improvement
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