Overview
What is Mercado Global Inc?
Mercado Global Inc is a nonprofit organization situated in Brooklyn, New York. Their primary mission is to empower indigenous women in Guatemala by offering them fair wage employment opportunities through their artisan cooperatives. This is achieved by connecting these cooperatives with major U.S. companies, providing education on running community businesses, and setting up sales orders. By doing so, the women can immediately start earning an income. Additionally, Mercado Global Inc offers tools like floor looms and sewing machines through donor-funded microloans and provides technical training sessions. Their ultimate goal is to empower these women, enabling them to become entrepreneurs and contribute to the ethical fashion movement.
Official website here: www.mercadoglobal.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Mercado Global Inc has received a Two-Star out of Four Star rating from Charity Navigator, with an overall score of 66%. This indicates that while the organization demonstrates a commitment to transparency and accountability, there are significant areas for improvement, particularly in financial reporting. The organization has a fully independent board and upholds several important policies, such as whistleblower and conflict of interest policies.
Strengths noted include a high program expense ratio of 88.63%, which suggests that a large portion of its funds is directed towards its programs rather than administrative expenses. The organization also exhibits strong governance practices with 100% independent board members, ensuring that decision-making is free from conflicts of interest. However, the lack of financial statements and a high liabilities to assets ratio of 84.90% raises concerns about its financial health and transparency.
While Mercado Global Inc has many positive aspects, the absence of comprehensive financial documentation limits the ability to fully assess its fiscal responsibility. Continuous efforts to improve transparency in financial reporting and address liabilities could enhance the organization's standing and trust among stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Mercado Global Inc legitimate?
Mercado Global Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mercado Global 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: $669,208
For more financial information, click here
Official website here: www.mercadoglobal.org
What is the mission statement of Mercado Global Inc?
Mercado Global Inc's mission is centered around empowering indigenous women in an ethical fashion movement. They achieve this by providing job training programs and holistic educational workshops, enabling these women to secure steady income through fair wage employment. By connecting local artisan cooperatives with sales opportunities at major U.S. companies, Mercado Global Inc offers these women the chance to become entrepreneurs. The organization also educates the artisans on various aspects of running community businesses, such as fair trade wages and rules, tax filing, cost calculation, and bank account opening. Additionally, Mercado Global Inc sets up sales orders with international retailers for immediate income generation and provides necessary tools, like floor looms and sewing machines, through donor-funded microloans. Technical training sessions are conducted to teach women how to utilize these advanced tools effectively.
Official website here: www.mercadoglobal.org
Who is the CEO of Mercado Global Inc?
Ruth Alvarez-Degolia is the Board Of Directors of Mercado Global Inc.
Official website here: www.mercadoglobal.org
What is the revenue of Mercado Global Inc?
Mercado Global Inc's revenue in 2022 was $1,240,427.
Official website here: www.mercadoglobal.org
Who are the executives of Mercado Global Inc and what are their salaries?
Here are 7 key members and their salaries:
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Official website here: www.mercadoglobal.org
Where can I find the form 990 for Mercado Global Inc?
Mercado Global Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mercadoglobal.org
Learn more at the official website: www.mercadoglobal.org
Mission Statement of Mercado Global Inc
Mercado Global Inc, a nonprofit organization, is committed to empowering indigenous women in a holistic manner. Their mission is to equip these women with job training programs and educational workshops, thereby providing them with steady income opportunities. By connecting local artisan cooperatives in Guatemala with major U.S. companies, Mercado Global Inc offers fair wage employment to over 300 women. Through this initiative, the women are not only gaining financial independence but also becoming entrepreneurs, contributing positively to the ethical fashion movement.
Beyond employment, Mercado Global Inc also focuses on educating these women. They teach them essential business skills such as calculating costs, filing taxes, and opening bank accounts. Furthermore, the nonprofit organization provides donor-funded microloans to procure tools like floor looms and sewing machines. Technical training sessions are conducted to familiarize the women with these advanced tools, equipping them to produce high-quality crafts for the international market. This multi-faceted approach enables Mercado Global Inc to empower indigenous women, providing them with the means to improve their lives and contribute to their communities.
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Impact
August, 2024
Mercado Global Inc's impact lies in its commitment to providing fair wage employment to over 300 indigenous women in Guatemala. By connecting these women with sales opportunities at major U.S. companies, the organization empowers them economically and educates them on running community businesses, fair trade principles, financial management, and more. Additionally, Mercado Global provides tools and technical training sessions to help women enhance their skills and productivity. Through its efforts, Mercado Global not only creates job opportunities but also fosters entrepreneurship among indigenous women, enabling them to be part of the ethical fashion movement.
This information is meant to be a general summary of Mercado Global 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: $1,374
- Program Service Revenue: $400,158
- Gross Receipts: $1,240,427
Assets and Liabilities:
- Total Assets: $699,910
- Total Liabilities: $580,530
- Net Assets: $119,380
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENU
Revenue
$400,158
Organization Details
Founding Year
2004
Phone
(718) 838-9908Principal Officer
Ruth Alvarez-Degolia
Main Address
254 36TH STREET C308, BROOKLYN, NY, 11232
Website
www.mercadoglobal.orgNTEE Category
Code: Q30 - International
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